Consumers Map Best Retirement Planning Moves

I was 53 when the economy collapsed, and watched daily while at work as my 401K shed value. I had to suck it up and take the hit. The profuse bleeding was horrendous for me. I had just the year before reached a milestone in my savings. That was something I had never thought to achieve being a divorced mother, homeowner and living in expensive NYC. Then I watched a lot of my gains disappear. I stopped the bleeding by moving everything to fixed income for a while. Once there was movement I ratcheted up my savings to 20% and plunged into more aggressive investments. I haven't recovered totally, I am still far off from where I would have been had the market not crashed, but have recently reached another milestone. To supplement this new boldness in myself I made a decision that when my mortgage is paid off ( 6 months), I will continue to save that same amount each month. Once my mortgage statement reaches zero, I plan to send the same amount to a savings plan each month. I just figured I have lived okay without it for all these years, perhaps the last 5 0r 6 years I can shore up my emergency funds. I have a good job, with a defined benefit pension, am hoping to retire when I am 66. My student loans are all paid off ( goodness, why do they last so long ). I started a small savings account with a credit union 35 years ago, forgot it existed, and the proceeds allow me to travel and vacation. I sometimes work overtime on a few holidays through the year which is a bonus, but I don't spend it. During the growing seasons here in NYC, I grow my food. Every dollar counts, make coffee at work and have been giving my slow cooker a workout on the weekends with lunches/ dinners for the week, really getting into the cooking videos. Just trying to live simply, no 1000 pair of shoes, clothes that are versatile, but i do spend money on walking shoes. My son suggested an herb garden in the house and that was doable. Now looking to turn my garage into a greenhouse for year round growing of foodstuff. In NYC i am fortunate to have a functioning and liveable commuter alternative to driving. Ii isn't the best, but I am making it work. I get to smell the ROSES, all of them and that is a real blessing . My asparagus planted two years ago is ready to eat and succulent. When that happens it is difficult to concentrate on other things.

athene of NY 6:56PM July 12, 2011