I'll be 32 in three months, graduated from college when I was 29. I'm looking to start investing wisely for my retirement. I have a mutual fund with Vanguard (Windsor II), a decent savings account for how long I have been out of school, a 401K with a few thousand in it, and the beginning of a pension which I will lose when I quit my job later this year (long story). Anyway, 1) how do I allocate my assets to maximize what I have so far, 2) does the rule of saving 10% of your gross work, and 3) what would you advise me to do, overall, to maximize my retirement planning? THANKS!!!!!!!
Max out your 401-K which in 2004 is 13k which if you get paid every 2 weeks is 500 a paycheck.
My 401-k is maxed as well as my roth.
I usually get some type of merit raise every year and get a C.O.L.A of at least 2.5 % every year, however I have brought home the same amount of money for the last 7 years. Whenever I get any type of raise, the extra amount i receive gets directly deposited into a savings account that i never see.