Group Blog Post: Retirement Saving | Bloggers Lair | Yakezie Forums

Not to repeat myself too much, but in my opinion, the best way to save is to have your target amount automatically squirreled away.  Automation reduces the chance that you will "accidentally" spend the money before saving it.  It also makes savings significantly less stressful since you aren't personally moving it into an account every month.  Whether investing in a 401(k), an IRA, or straight stocks, I love automation!

Crystal runs <a href="http://www.budgetinginthefunstuff.com/">Budgeting in the Fun Stuff</a> and covers spending, savings, and the fun stuff along the way.

Off course, the most important thing is to have a plan. In my opinion a plan can be made by first answering three simple questions: How much income you need, when will you retire and for how long do you expect to be retired? Once those are answered, the best way to save for retirement is using the "pay yourself first" principle. For those new with it, start small by setting money aside before you get it spent elsewhere. Ask your financial institution to generate an automatic transfer to your savings account, which would preferably be a high interest one. Set up a small amount weekly or each time you receive your pay check. Once comfortable with it, use the savings to contribute to your retirement plan.

VeRo participates in <a href="http://www.donotwait.com">DoNotWait!</a>, a blog particularly active for saving, retiring and debt reducing advices. 

The only way to approach retirement planning in 2011 is to attack it from all possible angle. You need to do all of these to maximize your chance to retire – spend less than you earn, get rid of consumer debt, max out 401k, max out Roth IRA, set aside an emergency saving fund, grow your income, grow your side income, build equity with a home that can be converted to an income property, invest in stocks, bond, and most important of all keep learning about personal finance. It is not too late to start saving for the freedom to do what you want!

Joe is blogging about his journey to early retirement at <a href="http://retireby40.org/">Retire By 40.</a>

Develop a side business that you can enjoy working at well into your retirement years.  One with passive income streams is ideal.  One with recurring income streams, like a membership site, is also very good.  Ownership in a business that produces side income is as much a part of your portfolio as is shares in a mutual fund, bonds, or cash.  The trick is to start now if you haven't already.  The sooner you begin, the more likely that you'll have a business that's self-sustaining when your sixties, and then your seventies, arrive.

John, aka mbhunter, has blogged at <a href="http://www.mightybargainhunter.com">Mighty Bargain Hunter</a> since 2005.

I believe that building up a side stream of income is essential, as well as reducing one's expenses. Savings might be suffering due to an expensive home or car, or they might be suffering due to death by a thousand papercuts. Increasing the income/expense gap is crucial to building up capital for the future.

Kevin writes at <a href="http://www.investitwisely.com/" target="_blank">Invest It Wisely</a> about maximizing your life EV.