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Originally Posted by Ima saver
Well, if you are saving 23%, you are doing pretty well. I forgot that you have to pay for child care. I would suggest that you write down everything you buy in a little notebook for a month. Look at see where that $600 is going??
also, it is more important to save for your retirement now than a child's education. i know you don't want to hear that, but it is true.
You can borrow for schooling, but you can't borrow to retire.
I think it is very important that you both open roth IRA's and contribute the full $4000 each. That is $333 a month for each of you.
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Very, very interesting point, I will keep it in mind, thank you.
Both my Dh and I have accounts with some retirement money from previous employers, but we can no longer contribute in those specific accounts from what I understand. I am still not very versed in the financial world - all I know is "behave yourself and do not buy with money you don't already have".
Should we open new IRA-s and roll over that money and make regular contributions?
Thank you so much again