One of my concerns as a traveler is retirement; I will leave my permanent position this month to start travel in June and will most likely rollover my 403b to an Roth IRA. Some companies have a matching program but you have to be with the company so many years to be vested. How are travelers handling there retirement? Thanks for the input!
Excellent question! I am looking forward to some answers to this as well. I'm in the same boat as you. Except I don't even have a retirement fund yet! Yikes.
My bet is that every one of us is looking for the answer to this one. I watched all my investments tank in 2008, I was cash poor so did not buy up and benefit but instead have watched my meager savings shrink more and more. I think we are on our own, work hard, save big. Be glad we are in the business we are in and stay healthy. I plan on working until I am in my 70's.....at least 20 more years. As I am treating people in their 90's it doesnt seem unrealistic.
By my calculation, it is better to earn more and save more than to earn less and get a company match, at least for the options I have had this year.
Diane
I have noticed some trends with this one. First of all, most companies (that I have seen at least) only match a very small percent of your contribution....or no percent at all. Therefore, it offers only a very small benefit. You can MORE than overcome this small benefit by choosing to eat out only 2X/week rather than 3X/week over the next year. Live below your means and you will be fine.
I opened my own Individual IRA and Roth IRA and contribute to it regulary and automatically. That is the only way to make sure that I save for my retirement. If a company will match my contribution, then I will sign up for their plan. If a company does NOT match, then I simply continue contributing to my personal account.
The key is to make it automatic and regular. By the way, if you contribute to your OWN IRA, it's still a tax deductable investment. Right Joseph?
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