So I was reading this great article in Money Under 30 and felt a little sick to my stomach after I was done. According to blogger David Weliver (and others in the PF world), you should have anywhere from 1-2 years salary in your 401K or other retirement account by the time you reach 30. Uh, what? I mean, I thought I was doing okay in my retirement savings, but 1-2 years salary?
After my husband was laid off in 2009, we were completely focused on building up our emergency fund to last 6 months. When we found out we were pregnant, we started building a healthy savings account for medical and baby expenses. So instead of upping my retirement contributions (like I intended to do a year ago), my money was saved in other places. Did I make the right choice?
I'd love to hear from you all out there - does anyone have (or did you have if you're over 30) a year or two's worth of your salary in your retirement accounts? How did you do it?