I just contributed the maximum $5,500 to my Roth IRA for the second year in a row, and I can only begin to explain how much of an effect this has, not only on my future, but on my peace of mind in the present. Along with working/saving steadily and budgeting meticulously (which is actually substantially easier, more fun, and less time-consuming than it seems like it would be), paying my future self gives me permission to truly enjoy my youth more and worry less about nagging issues like future medical expenses, potential business start-up capital, or rainy day travel funds with my wife-to-be.
The IRA is with my credit union bank, which offers relatively crummy returns compared to Vanguard, for example. I'm going to move it over into Vanguard tomorrow, since I just sent my taxes in today. I'm pretty green with investing, and not a big earner by any stretch, but I'm still able to put away between 50 and 60% of my income. It seems to me that <$460/month + x% of accumulated interest for my future self to live on is worth so much more than most other non-essential things that I could buy each month for the same money. Wish I had started putting money away sooner, but glad I'm finally on track!
Submitted March 21, 2018 at 10:36AM by elevengallonhat http://ift.tt/2HQLZPs
