Recently I started wodering about my retirement and my options. I know I am far away from retiring, but I was wondering if someone could help me out.
I am 26, working in IT field. I'v been working at the same place since I graduated from college. I am constantly being told that I need put aside more for my retirement. I am only contributing 7% and my employer is contributing 9%. I am constantly told that's not enough. I do not know anything about investing money, I don't understand most of the things you guys are talking about when it comes to retirement.
My problem is that if I contribute more to my retirement through my employer I can't have that money until I am in early 60s or so. Well, what about if I need it sooner? What is I am not intending to work until I am in my 60s. At that age there are many things you can't do any more. I would like to enjoy my life before that. I have so many interests that I would like to explore that waiting until I am in 60s just doesn't make sense. There is no way I can retire early since I know I won't have enough income. What can one do? Should I invest in something else, like mututal funds instead?
Please help, I am perplexed.
I am 26, working in IT field. I'v been working at the same place since I graduated from college. I am constantly being told that I need put aside more for my retirement. I am only contributing 7% and my employer is contributing 9%. I am constantly told that's not enough. I do not know anything about investing money, I don't understand most of the things you guys are talking about when it comes to retirement.
My problem is that if I contribute more to my retirement through my employer I can't have that money until I am in early 60s or so. Well, what about if I need it sooner? What is I am not intending to work until I am in my 60s. At that age there are many things you can't do any more. I would like to enjoy my life before that. I have so many interests that I would like to explore that waiting until I am in 60s just doesn't make sense. There is no way I can retire early since I know I won't have enough income. What can one do? Should I invest in something else, like mututal funds instead?
Please help, I am perplexed.