Comments on: Regrets of the Retired: Didn’t Save Enough! http://www.investingintelligently.com/2006/02/18/regrets-of-the-retired-didnt-save-enough/ Not just another (Canadian) financial blog Sat, 16 Oct 2010 15:22:19 -0700 http://wordpress.org/?v= hourly 1 By: Dave http://www.investingintelligently.com/2006/02/18/regrets-of-the-retired-didnt-save-enough/comment-page-1/#comment-178 Dave Sun, 26 Feb 2006 23:30:29 +0000 http://www.investingintelligently.com/2006/02/18/regrets-of-the-retired-didnt-save-enough/#comment-178 I am going to tell my kids to start contributing to their RRSPs as soon as they have the room. They will not be able to benefit from deducting the amounts from ther income until they are older but I think investing that 18% of their income every year into their RRSPs is a great idea. I am going to tell my kids to start contributing to their RRSPs as soon as they have the room. They will not be able to benefit from deducting the amounts from ther income until they are older but I think investing that 18% of their income every year into their RRSPs is a great idea.

]]> By: Loi Tran http://www.investingintelligently.com/2006/02/18/regrets-of-the-retired-didnt-save-enough/comment-page-1/#comment-177 Loi Tran Sun, 26 Feb 2006 23:08:35 +0000 http://www.investingintelligently.com/2006/02/18/regrets-of-the-retired-didnt-save-enough/#comment-177 I'm trying to save as much as possible too. I regret not putting money into my retirement account at an earlier age. I should of started when I was 16, that's 8 wasted years of compounding. I’m trying to save as much as possible too. I regret not putting money into my retirement account at an earlier age. I should of started when I was 16, that’s 8 wasted years of compounding.

]]> By: Dave http://www.investingintelligently.com/2006/02/18/regrets-of-the-retired-didnt-save-enough/comment-page-1/#comment-159 Dave Sun, 19 Feb 2006 00:56:04 +0000 http://www.investingintelligently.com/2006/02/18/regrets-of-the-retired-didnt-save-enough/#comment-159 True, but life actually doesn't have to be dull even if you make saving up for retirement a maximum retirement. Paying yourself first is a great philosophy. You put the money away and don't think about it. Then you make the most with what you have and usually you don't miss the money you put away. Also I don't think of it as JUST saving up for retirement when I am 65. I am saving up for my 30s, my 40s, and my 50s. During those years I expect to not have to put as much of my salary into retirement savings because I will already be on track to retire with enough money without having having to increase my contributions from what they are today. Finally, even if my life is a little bit duller today than it could be, I think it's ok. I understand the benefits it will have later and I am willing to make some sacrifice now (at least on some things, like a new TV!) True, but life actually doesn’t have to be dull even if you make saving up for retirement a maximum retirement. Paying yourself first is a great philosophy. You put the money away and don’t think about it. Then you make the most with what you have and usually you don’t miss the money you put away.

Also I don’t think of it as JUST saving up for retirement when I am 65. I am saving up for my 30s, my 40s, and my 50s. During those years I expect to not have to put as much of my salary into retirement savings because I will already be on track to retire with enough money without having having to increase my contributions from what they are today.

Finally, even if my life is a little bit duller today than it could be, I think it’s ok. I understand the benefits it will have later and I am willing to make some sacrifice now (at least on some things, like a new TV!)

]]> By: Joe http://www.investingintelligently.com/2006/02/18/regrets-of-the-retired-didnt-save-enough/comment-page-1/#comment-158 Joe Sun, 19 Feb 2006 00:36:39 +0000 http://www.investingintelligently.com/2006/02/18/regrets-of-the-retired-didnt-save-enough/#comment-158 Dave, this is pretty standard - everybody wishes they had done more earlier - because the things they enjoyed earlier are long gone. You also have to live your life today. Not much fun to die with a dull life and a million in the bank. Dave, this is pretty standard – everybody wishes they had done more earlier – because the things they enjoyed earlier are long gone. You also have to live your life today. Not much fun to die with a dull life and a million in the bank.

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