It was relatively easy to set up the Roth IRA online, and I decided to invest in a target-date fund as I knew very little about investing at the time and wanted a "set it and forget" strategy for my Roth IRA.
While I didn't initially see the importance of starting to invest so aggressively so early, I started to see the bigger picture when I learnedAfter graduate school, I took a job as a high school business education teacher. I decided to invest 10% of my salary into myHe told me it was always easier to save and adjust the amount you live on than to try to squeeze saving in later when you're already living a certain lifestyle.
There are many benefits to starting to invest early. For one, I saved enough money in my Roth IRA by the time I wanted to purchase a home to take out 10% without paying additional taxes or any fees. Also, once I left the workforce to stay home with our two children, I felt good about the amount of money I had already saved and didn't worry about missing a few years of not investing in an employer-sponsored retirement plan.
Both of my parents imparted a lot of valuable information about investing and personal finance over the years. They had their own financial struggles to overcome, but I am grateful for the opportunities and wisdom they gave me. It's my mission to be able to impart the financial wisdom they gave me as well as the knowledge my husband and I have gained along the way to our own children.
While I agree starting to invest as early and as often as you can is important, I think it's even more important to figure out how you can make investing work for you. If you're looking to retire earlier than the standard retirement age of 66, then you will very likely need to invest more than 10% of your salary into your employer-sponsored retirement plan.
wow
Misleading; the dad retired at 54 due to a terminal illness, so it’s not like he needed millions to live for many years
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