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monica
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| Posted: July 28 2009 at 7:44pm | IP Logged
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not sure if this is the right place to post this, but my husband and i are trying to get responsible for our finances. we are trying to work more and save $$ instead of living in a financial cloud. i was wondering what moms who stay at home do for retirement. we arent putting any $$ into social security and we dont have a company who invests in a 401K for us.
we are in our 30s, so time is on our side, if we save now, we can not worry too much about our 70's. but how are you all planning for retirement?
monica
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Martha
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| Posted: July 28 2009 at 8:29pm | IP Logged
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 our kids are the only "retirement" plan we have or are likely to ever have. 
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Martha
mama to 7 boys & 4 girls
Yes, they're all ours!
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teachingmyown
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We have a 401K that we put money into each month. Honestly, I can't remember how much we put in.  When you never see it, you forget about it. We also have an ING investment account that my dh manages. He enjoys all that stock and funds stuff. It's been a scary year, but we are recovering.
There are some good Catholic funds that are pretty secure.
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In Christ,
Molly
wife to Court & mom to ds '91, dd '96, ds '97, dds '99, '01, '03, '06, and dss '07 and 01/20/11
Remembering Today
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PDyer
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I have an IRA account that began when I was a single working woman. It sits (what's left of it) and my husband and I contribute whatever the maximum contribution is to each of our IRA accounts annually.
My husband is a partner in a small accounting practice. That practice IS our retirement savings, right now.
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Patty
Mom of ds (7/96) and dd (9/01) and two angels (8/95 and 6/08)
Life at Home
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Carole N.
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| Posted: July 29 2009 at 2:53am | IP Logged
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My dh also manages our retirement account. We have a friend who is an investment person, and before we moved, all the different retirement funds were joined together in one account. I really don't understand all of that financial stuff, but I do know that we were hit hard by the downturn in the economy. It is slowly recovering and even though we are older, we are not retiring tomorrow! 
My dh is still saving through his job and also adding little bits and pieces when he receives a bonus. I don't think he will let the economy affect retirement plans although I don't think he will retire early anymore.
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 Carole ... in Wales
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mariB
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Retirement...we are self employed with NO retirement. I'd like to put away something...seems so impossible right now. I will be looking at this thread and gleaning whatever I can from this!
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marib-Mother to 22ds,21ds,18ds,15dd,11dd and wife to an amazing man for 23 years
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juststartn
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| Posted: July 29 2009 at 3:55pm | IP Logged
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HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAAA!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!!!!
Wheee...whoooo...for a minute there, I thought you were asking how we are handling planning for my retirement someday....
Oh. Wait. You did.
We aren't. I will be working (in one way or another) til I am dead. We have DH's army retirement and his VA, and we have some small contributions to a civilian job 401K type "thing" he has. Nothing huge. But the thing VA pays for the house and the insurance on the car. The retirement pays for some of the rest of the bills, and his civilian job pays for the groceries as well as the rest of the bills.
So we are just hoping for the Second Coming. Or a powerball win. Or one of our dc to provide for us.
Rachel
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Married DH 4/1/95
Lily 3/11/00
Helena(Layna) 5/23/02
Sophia 4/19/04
John 5/7/07
David 5/7/07
Ava Maria, in the arms of Jesus, 9/5/08
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amyable
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We put money away through dh's 401K, as much as he is allowed. This may change though as we try to decide which is more important - a house that fits us all comfortably *now*, or retirement and college savings. We can't seem to do both.
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Amy
mom of 5, ages 6-16, and happy wife of 
The Highly Sensitive Homeschooler
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Kristie 4
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I will ditto MariB!! Self employed with no prospects in retirement!!!
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Kristie in Canada
Mom to 3 boys and one spunky princess!!
A Walk in the Woods
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sewcrazy
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Self employed here also.
We can make far more money returning "extra" money to the business than any account would bring.
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LeeAnn
Wife of David, mom to Ben, Dennis, Alex, Laura, Philip and our little souls in heaven we have yet to meet
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guitarnan
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| Posted: July 29 2009 at 9:49pm | IP Logged
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DH has the federal version of a 401K. After the recent crisis, though, I'm not inclined to consider that "savings." My dad has good advice - take your money out of stocks/stock funds a couple of years before you need it and put it into a CD or money market account.
What with military life and all, my ability to add to our retirement savings is minimal. I try instead to maximize the use we get from our money now...would you like to see my 80-degree thermostat setting?...so we can make every dollar count.
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Nancy in MD. Mom of ds (24) & dd (18); 31-year Navy wife, move coordinator and keeper of home fires. Writer and dance mom.
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chrisv664
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We have a joke around here... With six kids, odds are, one of them will like us when we're old!
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Chris
Loving Wife of Dan and Mom to Kate, Jessica, Ben,
Rebecca, Thomas and Hannah
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LucyP
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I have no idea how we could ever save in a pension. That just is not in our budget at all. I hope that one day when the children are adults, I may have some time to work and we could save my income, but really I can't see a way through it all. DS has said that we will live in his castle when he is older, or if he becomes a priest that we can live with him and be his altar servers and that he will feed us! So I suppose I needn't worry
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Barbara C.
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We are lucky. DH's job automatically takes 15% out of each paycheck to put towards retirement. His job does not pay into social security. Current employees pay dues to cover the health insurance of retired employees. We would like to start adding the minimum amount in a 403b (401k for non-profits) in the next few years and start building up more.
I have about half the credits I need to collect social security on myself from my previous work history. I figure at some point when the kids are grown I'll probably get some kind of job and get the rest of the credits I need...if social security still exists at that point.
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Barbara
Mom to "spirited" dd(9), "spunky" dd (6), "sincere" dd (3), "sweet" dd (2), and baby girl #5 born 8/1/12!!
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monica
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| Posted: July 30 2009 at 10:42pm | IP Logged
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it is good to hear all this. we havent really started saving for retirement and i recently read a suzie orman article telling how important it is to save for retirement in your 30's. im 33 and have just a little bit put away. i see myself staying home for a long time, so dh will be working and have some kind of retirement plan with work, but we will have to figure out something else for me at least right now.
thanks for sharing, ladies. it is really helpful
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SusanMc
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| Posted: July 31 2009 at 7:32am | IP Logged
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We put 12% of DH's income into our 401K-type retirement plan each month. We just never see that money so we don't miss it at all. It is a non-negotiable expense for us. I have IRAs from when I was working prior to marriage. We put a little aside in a Roth IRA when a windfall comes our way. If we need the contributions later for the kids college, we can take it out penalty free (but not the earnings) otherwise it will be retirement money as well. Once the kids are grown, I may go back to work again to boost my SSA as well. By our calculations we'd need about $1million in savings to be self sufficient in retirement. I don't know if we'll get there but we are trying. If we actually get Social Security that would be a bonus but we just aren't counting on it.
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4Real Forums : Mothering and Family Life
Topic: how much do you save for your retirement?
