Comments on: Are You Saving Money Just to Save, Or Saving With Purpose? http://frugaldad.com/2010/01/13/saving-money-just-to-save-or-saving-with-purpose/ Promotional Codes, Coupons & Deals + Money Saving Insights Fri, 25 May 2012 18:18:27 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Chase http://frugaldad.com/2010/01/13/saving-money-just-to-save-or-saving-with-purpose/#comment-37249 Chase Tue, 02 Feb 2010 02:41:15 +0000 http://frugaldad.com/?p=4544#comment-37249 You definitely need a plan for that sort of money if you are going to pinch in order to save that much. It makes it a heck of a lot easier if you actually know where that money is going to - say, for instance, a retirement home. You definitely need a plan for that sort of money if you are going to pinch in order to save that much. It makes it a heck of a lot easier if you actually know where that money is going to – say, for instance, a retirement home.

]]> By: –› Finding the Budget Busters from Last Year http://frugaldad.com/2010/01/13/saving-money-just-to-save-or-saving-with-purpose/#comment-36661 –› Finding the Budget Busters from Last Year Thu, 21 Jan 2010 13:30:42 +0000 http://frugaldad.com/?p=4544#comment-36661 [...] Are You Saving Money Just to Save, Or Saving With Purpose? [...] [...] Are You Saving Money Just to Save, Or Saving With Purpose? [...]

]]> By: Forest http://frugaldad.com/2010/01/13/saving-money-just-to-save-or-saving-with-purpose/#comment-36406 Forest Fri, 15 Jan 2010 09:03:33 +0000 http://frugaldad.com/?p=4544#comment-36406 Personally I think you are a fantastic writer and clearly a fantastic blogger overall. I have NO savings but as I have just started a debt management plan I am in a position to start getting some! I can't wait to keep reading.... IRA's and all this stuff is kind of garbage to me so I gotta learn!!!! Personally I think you are a fantastic writer and clearly a fantastic blogger overall.

I have NO savings but as I have just started a debt management plan I am in a position to start getting some! I can’t wait to keep reading…. IRA’s and all this stuff is kind of garbage to me so I gotta learn!!!!

]]> By: Jen http://frugaldad.com/2010/01/13/saving-money-just-to-save-or-saving-with-purpose/#comment-36379 Jen Thu, 14 Jan 2010 04:59:03 +0000 http://frugaldad.com/?p=4544#comment-36379 Looking forward to your series next week. We have spent the last 2.5 years paying off debt and have less than 12 months left (if we stay on plan). With the end finally in sight I have let my mind wander to what/how/where we go with that "snowball" of money each month. Should we paydown the mortage first? just pay more to it- if so then how much more each month? how much goes to retirement? kids college? home repairs? ect.. a well deserved family vacation. I think your articles next week may inspire to really crunch some numbers and talk seriously wiht my hubby about your future goals. Thank! Looking forward to your series next week. We have spent the last 2.5 years paying off debt and have less than 12 months left (if we stay on plan). With the end finally in sight I have let my mind wander to what/how/where we go with that “snowball” of money each month. Should we paydown the mortage first? just pay more to it- if so then how much more each month? how much goes to retirement? kids college? home repairs? ect.. a well deserved family vacation.
I think your articles next week may inspire to really crunch some numbers and talk seriously wiht my hubby about your future goals. Thank!

]]> By: Foxie@CarsxGirl http://frugaldad.com/2010/01/13/saving-money-just-to-save-or-saving-with-purpose/#comment-36378 Foxie@CarsxGirl Thu, 14 Jan 2010 04:44:41 +0000 http://frugaldad.com/?p=4544#comment-36378 Part of this is why I want to get into a savings habit early... Then I don't ever have to max out a 401(k) to have enough for the ever-ambiguous retirement. I also don't want to feel stuck to a particular income level. As long as my husband is fine in his job, I'm happy to not have to be faced with the hard choices between what I'd rather do and the money I have to make. My earnings can be low and we'll still be alright, because we live a fairly good life on not a whole lot of money. Of course, I have my fingers crossed for a military retirement, that would pretty much take care of everything for us and my own retirement savings would be gravy. :) That's at least 14 years off, when my hubby would be the ripe old age of 38! I'd love to be able to live a nice life with THAT kind of early retirement.... Lol. (And, quite possibly, we can be financially savvy enough to pull it off, granted we stick to our no-kids attitude. Chances are pretty good of that, I assure you.) Part of this is why I want to get into a savings habit early… Then I don’t ever have to max out a 401(k) to have enough for the ever-ambiguous retirement.

I also don’t want to feel stuck to a particular income level. As long as my husband is fine in his job, I’m happy to not have to be faced with the hard choices between what I’d rather do and the money I have to make. My earnings can be low and we’ll still be alright, because we live a fairly good life on not a whole lot of money.

Of course, I have my fingers crossed for a military retirement, that would pretty much take care of everything for us and my own retirement savings would be gravy. :) That’s at least 14 years off, when my hubby would be the ripe old age of 38! I’d love to be able to live a nice life with THAT kind of early retirement…. Lol. (And, quite possibly, we can be financially savvy enough to pull it off, granted we stick to our no-kids attitude. Chances are pretty good of that, I assure you.)

]]> By: Jan http://frugaldad.com/2010/01/13/saving-money-just-to-save-or-saving-with-purpose/#comment-36377 Jan Thu, 14 Jan 2010 04:11:15 +0000 http://frugaldad.com/?p=4544#comment-36377 52- short term- continue saving 30-40% of combined income of jobs we love. No house or car payments Medium term- car, Harley and new bathroom in the next five years when full retirement hits. We have saved enough to simply spend out of savings for the first five years. This money is never counted in our portfolio (neither is our house). Saving this money in a seperate account and not included in our savings rate - it is another 15% of our incomes. Yes, that means we live on less than one salary. Medium long term- sell the house and move into a condo (rent or buy will be the question then) near our kids so we can enjoy the grandbabies. Put that money to work for us. Long term- continue to live within means.We have no plans to take money from principle for at least ten years when hubby reaches that magical 701/2. Then it will only be the traditional IRA (which does not have tons in it). We will live off pensions and interest and later pensions,interest and Social Security. So far the plan looks well on its way to be in place. No health care costs since my husband was smart enough to do 20 years in the military! Both of us are covered. 52- short term- continue saving 30-40% of combined income of jobs we love. No house or car payments
Medium term- car, Harley and new bathroom in the next five years when full retirement hits. We have saved enough to simply spend out of savings for the first five years. This money is never counted in our portfolio (neither is our house). Saving this money in a seperate account and not included in our savings rate – it is another 15% of our incomes.
Yes, that means we live on less than one salary.
Medium long term- sell the house and move into a condo (rent or buy will be the question then) near our kids so we can enjoy the grandbabies. Put that money to work for us.
Long term- continue to live within means.We have no plans to take money from principle for at least ten years when hubby reaches that magical 701/2. Then it will only be the traditional IRA (which does not have tons in it). We will live off pensions and interest and later pensions,interest and Social Security.
So far the plan looks well on its way to be in place. No health care costs since my husband was smart enough to do 20 years in the military! Both of us are covered.

]]> By: PT http://frugaldad.com/2010/01/13/saving-money-just-to-save-or-saving-with-purpose/#comment-36369 PT Wed, 13 Jan 2010 23:34:04 +0000 http://frugaldad.com/?p=4544#comment-36369 Love it, Jason. I love talking about intentionality and purposeful action. Our lazy brains want it the other way around, but it's the intentional people that make things happen. Looking forward to the series. Not to knock the concept, but I think there's definite value in maximizing. That's a ton of taxes you won't be paying NOW. And on the concept as a whole, I think it's fine if people save without intention. People just need to start saving. They aren't doing it. Love it, Jason. I love talking about intentionality and purposeful action. Our lazy brains want it the other way around, but it’s the intentional people that make things happen. Looking forward to the series.

Not to knock the concept, but I think there’s definite value in maximizing. That’s a ton of taxes you won’t be paying NOW. And on the concept as a whole, I think it’s fine if people save without intention. People just need to start saving. They aren’t doing it.

]]> By: jj-momscashblog http://frugaldad.com/2010/01/13/saving-money-just-to-save-or-saving-with-purpose/#comment-36368 jj-momscashblog Wed, 13 Jan 2010 22:47:29 +0000 http://frugaldad.com/?p=4544#comment-36368 I thought this post hit home even when I read just the title i knew what I was in for, it spoke to me and my decisions that I've made in the past. I had started to save money to help with my retirement and I had wanted to have a nice little nest to have ready when I did decide to retire.It seemed every time I would look at my statement and saw that little bundle growing, something in my head would say "that's not enough...so you might as well get the house painted sooner than later".Eventually that bundle dwindle away and I had to start all over again. I'm thinking one really does have to save with a real "goal" in mind too. Great post and excellent tips and I look forward to reading your new series. jj I thought this post hit home even when I read just the title i knew what I was in for, it spoke to me and my decisions that I’ve made in the past. I had started to save money to help with my retirement and I had wanted to have a nice little nest to have ready when I did decide to retire.It seemed every time I would look at my statement and saw that little bundle growing, something in my head would say “that’s not enough…so you might as well get the house painted sooner than later”.Eventually that bundle dwindle away and I had to start all over again. I’m thinking one really does have to save with a real “goal” in mind too. Great post and excellent tips and I look forward to reading your new series. jj

]]> By: Susanne http://frugaldad.com/2010/01/13/saving-money-just-to-save-or-saving-with-purpose/#comment-36366 Susanne Wed, 13 Jan 2010 21:18:44 +0000 http://frugaldad.com/?p=4544#comment-36366 We put about 15% of our money into retirement via automatic draft. I'm glad we have that option; we're notoriously lazy savers, so for us, automated savings = good for us! I am 31, and I don't have any defined plans for retirement. I just know that I want to be modestly comfortable and not have to rely on my kid for support. Ultimately, that's why we're saving. In terms of short-term saving, that's difficult right now... We have a small emergency fund, but we're kind of strapped, financially. I feel like we're always just saving up for the next engine problem or broken plumbing. :-P We put about 15% of our money into retirement via automatic draft. I’m glad we have that option; we’re notoriously lazy savers, so for us, automated savings = good for us!

I am 31, and I don’t have any defined plans for retirement. I just know that I want to be modestly comfortable and not have to rely on my kid for support. Ultimately, that’s why we’re saving.

In terms of short-term saving, that’s difficult right now… We have a small emergency fund, but we’re kind of strapped, financially. I feel like we’re always just saving up for the next engine problem or broken plumbing. :-P

]]> By: Sheila http://frugaldad.com/2010/01/13/saving-money-just-to-save-or-saving-with-purpose/#comment-36365 Sheila Wed, 13 Jan 2010 19:59:00 +0000 http://frugaldad.com/?p=4544#comment-36365 I think as you get closer to retirement, saving becomes more important. On the negative side, we save like heck for retirement because it's less than 10 years away, and I'm afraid we won't have enough money. On the positive side, we save for retirement because I want to be able to enjoy a comfortable lifestyle. Similar goals, I suppose, but they elicit different emotional reponses. I think as you get closer to retirement, saving becomes more important. On the negative side, we save like heck for retirement because it’s less than 10 years away, and I’m afraid we won’t have enough money. On the positive side, we save for retirement because I want to be able to enjoy a comfortable lifestyle. Similar goals, I suppose, but they elicit different emotional reponses.

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