10 Ways to Pay for Retirement

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I am 41 years old. I teach in the state of Colorado; therefore, I will not be getting social security - this might be the best thing since it may not be around in 30 years. I currently put in extra money into IRAs, only have a car loan and make sure that I do not take on debts.
My retirement plan: work until I am able to collect my PERA benefits without age or years penalty, continue to contribute to my IRAs, stay out of debt (currently paying off a car that has 0% interest rate) and live slightly below my means.
Although I would like to continue to work after retiring part-time many older people struggle to find and kept jobs in this economy. In addition, many people are not healthy enough to continue to work. I sincerely hope that the future gets better in the US.

Debra of CO 8:33PM June 15, 2012

Many Seniors spent part of their life in a survival mode and did not consider retirement planning a part of that process. I am 84 1/2 and never expected to be faced with another survival set of conditions. Simply by continuing to live.
i am now in one of the common roles of 'ranch hand' at my daughters/son-in-laws home - helping with the animals, property, and contributing to what
ever makes us happy.
They are working harder than I did to acquire more than I did and are working on that retirement component. The question is - Did I set an example by doing or not doing ?

Charles A Coshow Sr of CA 11:30AM May 26, 2012

One source surely is not sufficient to take care of one's retirement. The pension is the first. Social Security follows, while for healthy senior citizens, part-time employments come in very handy to remove boredom on the one hand and to add to one's purse on the other. One's savings before retirement is good to fall upon.

Benjamin MOROHUNFOLA of TX 7:37PM May 25, 2012

I believe people don't worry about it till it is too late. We used to have the social security at age 65 but now most of us will never see that., and definitely not our children. I don't have any idea what I will do when I can't take care of myself with no children and no husband who will help me. God will. I pray every day for our leaders to open their eyes and see where there help comes from.

Lisa Marie Campbell of AL 6:38PM May 25, 2012

On relaying on Social Security, from that will be subtracted the cost of Medicare AND if you have other income that puts you over $32,000 per year, expect a percentage of your SS benefits, up to 85%, to be taxed as ordinary income, netting you even less.

Rich Ermolovioch of CA 5:49PM May 25, 2012

I recently was deemed disabled by SSI, I also have military retirement as a retired E-7, I also am a 60% disabled veteran recieving disability, by wife is also disabled by ssi and she recieves a divorce entitlement from her military retired ex-husband. All in all, we are bringing in between $6000 to $7000 a month for our retirement years. Hopefully, this will be enough.

Jesse Lopez of TX 7:28AM May 25, 2012

This is a Very Important Piece of Lifetime Important
Advice for Each and every Human being. After certain age say age 65 year ,Majority people retire
because of Health reason or Inability to Work.on the other hand very few Unlucky retire little Earlier
too as Mentioned Above,what is the Truth. But very few people continue to have a Part Time job as a safety net ,Rather depent on SO,SI ,401K ,Some saving ,Apt/House Rent .Very few lucky one use money in Wall Street/Stock ,Equity or others Rather very few get some Interest from Saving Account what is very Low.All depend on How much anybody have in Saving and So,Si,401 K,or other source.At any rate this is very very Important Piece of Advice for
Everybody,specially people 50+ and who will soon
will retire .In between or anytime Any WORST thing
can happen to any Human.For That LIFE INSURANCE policy is the Best Advice what everybody need have one either Big or Small .

Syed M Karim of AL 8:55PM May 24, 2012

I worked most of my life. However,due to Life circumstances, I am unemployed and now I am on disability. What a great loss, All my savings was drained during my umployment. I was SSI, then now I am permanently disabled. Dead End for me.

Glenda V. Campbell of MA 5:25PM May 24, 2012

I have retired, and receive a small pension, along with Social Security. Though with the increase of things that help me to survive, taking on a part-time job still does not help. Social Security administration makes adjustments in the amount of what they pay me. So, this is why I developed this attitude.

Arnold Kahiwa of HI 4:57PM May 24, 2012

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columbusjones238 of CA 12:25PM May 24, 2012