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Are You Still Contributing to Retirement Savings?

It's not surprising that some people are tempted to pull the plug on retirement contributions when things are tight, but it's important to continue on the path to saving enough for the golden years. Have you kept up with your contributions as the economic crisis has worsened?


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ilanac13 ilanac13 8 years
yes i am STILL contributing, and it's the same amount as before. i still just have the same portion of my paycheck taken out each week/month so that i have some type of safety/nest egg when it comes time to retire.
notoriuskitty notoriuskitty 8 years
I would LOVE to be saving for retirement, and I know it's not a good excuse, but I don't make enough money to do it! I only make about $9/hour and I also receive paid vacation and sick days... however, I still live at home and the last thing I want to do is rent. So I am saving for my own home. But even living at home, it's hard to even get all my bills paid. I do however, put money into my savings account!
rtofctr rtofctr 8 years
It is a good idea to pour as much money as you can into 401K, ROTH, and growth stock mutual funds. The market will rebound soon. 100% of 10 year periods have been growth periods for the stock market, and 97% of 5 year periods have been growth periods. There is a huge sale going on in the market right now, and only a fool would miss it!
hyzenthlay20 hyzenthlay20 8 years
My CalSTRS is automatic, so I haven't stopped that . . . and I just started my autodeposit into a 403(b) today! I'm feeling proud of myself, even though the 403(b) will not get much money, at least for a while, it will be growing monthly :)
Renees3 Renees3 8 years
I stopped because when I took money out for the down payment for our home you have to stop for 6 months. As soon as I can I'm going back to putting money in.
Spectra Spectra 8 years
I've upped my contribution as well. Since I'm pretty far away from retirement, I'm trying to buy in as much as possible so I can reap the rewards when the economy comes back.
meechie meechie 8 years
Yes my $600 turned into $800 not bad for no effort plus it is a tax break.
Taadie Taadie 8 years
I upped my contribution. I dont plan on working forever and the more I get used to saving it now the more money I will have for my future so I can relax and retire and not be a burden.
starangel82 starangel82 8 years
I'm still contributing the same amount. Direct from my check so I don't even miss it.
mlen mlen 8 years
yes all of mine currently is in roth savings- i am counting on having a higher tax bracket when i retire. i want to retire rich! and i'm certainly not rich now lol
bengalspice bengalspice 8 years
I actually increased my contributions.
lizs lizs 8 years
But of course! I've considered reallocating from my current mix (about 18% of my gross pay pre-tax, some of which is mandatory, no employer match) to a Roth IRA. I'd be buying the same funds, so I just have to get off the fence about whether or not I think I'll be in a higher tax bracket when I retire.
gooniette gooniette 8 years
I'm contributing 10% to my 401K now, but may reduce the amount to just what the company will match. Then I can take the other amount and put it in my Roth IRA where I can choose the invesments. So far their investment choices aren't so hot.
blackdove5 blackdove5 8 years
I'm still contributing, the stock is at a discount now. Plus, my company still matches, that's free money in itself.
SDTransplant SDTransplant 8 years
I'm still contributing to my retirement plan. Like other people have said, I don't count that money since it's deducted from my paycheck and I never see it to begin with. And I want to make sure I'll be okay in old age as I'm certainly not relying on the government to help.
shannonsimpson shannonsimpson 8 years
absolutely, there's no way I'm missing out when this market bounces back
snarkypants snarkypants 8 years
nope, never have. i make so little that every cent goes to rent and bills. i'd rather pay those on time. i'll be screwed when i'm old, so hopefully my plan to marry a rich guy will pan out. ;)
pwningbeauty pwningbeauty 8 years
I actually upped the amount that I'm putting in my 401K, from 6% to 8% of my total salary. I'm just cutting back more on going out, etc.
colormesticky colormesticky 8 years
Yes. I have money taken out of my paycheck, and Edward Jones nicks some money out of my checking account every month on the 15th. It hurts sometimes, but I figure if I can squeeze by now I'll at least be comfortable when I retire.
acf222 acf222 8 years
You should always be contributing to your retirement savings, no matter how little! Take advantage of your 401(k) if you have one....what you contribute is taken out of your pre-tax income....and this can certainly help come tax time. Keeping your savings in a highly liquid or easily accessible account is dangerous!
shiningeyes shiningeyes 8 years
I kept the money that was already in my 401K in there... (but diverted it to lower-risk options). But I just don't see the point of putting more money in there, just to watch it trickle down to 0.
lickety-split lickety-split 8 years
no. we are keeping everything very liquid, very easy access. if we need the cash i want to be able to get to it NOW.
CaterpillarGirl CaterpillarGirl 8 years
I do deferred Comp and it comes out of my paycheck.
soveryfabulous soveryfabulous 8 years
I'm still contributing the same amount consistently to my retirement savings. I've still got a long way to retirement, so I'm not too worried.
Deidre Deidre 8 years
Yes, I kept the same % set up for my 401(k) as before the economical slump. I completely agree with Lovely -- since the amount comes directly out of my paycheck, I don't even consider it my money just yet. Who knows what the financial situation will be in the future? I'd rather tighten my belt a wee bit now and be prepared for the future.
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