Thursday, October 18, 2012

is it time to open a retirement fund? planning.


i mean, i'm pretty good at keeping coin jars.
but really, it's time for me to be a grown-up about this.
dun dun dun, retirement fund!

check out this juicy fact:
if you're 25 (hey, that's me!) and can contribute $5,000 per year (about $400 a month) until retirement (around age 60) and your IRA has an 8% return-on-investment, then you'll have...
$1.4 million

say what in the what what?!

someone remind me where the hooverbiebs this useful life information was in high school.
thanks for that, high school.

in any case, i asked the googles for some advice.
and i decided on a Roth IRA instead of a Traditional IRA.

now i will sell some furniture and dig up my coin jars to get it going.
you might think i'm kidding but i'm not.

but you tell me, if you have an IRA,
what's a good place to get one?
fidelity? vanguard? charles schwab?

do tell.


Annie Citrine said...

Oo Oo Oo! I actually just met with a financial planner yesterday. He gave me a lot of really good information and he will help you plan for free. I think next week I'll be signing up for a Roth with American... Something. I wrote it down, but I don't have it with me. Anyway, they were the first socially responsible investment company in America. Meaning they don't invest in sex, drugs, or alcohol. I can give you the guys info of you're interested. :)

Chantel said...

I use Vanguard :)

Emily said...

Good timing! My husband has been researching this a lot recently (bless him, as retirement research isn't exactly thrilling) and now we're planning to start a Roth IRA as well (and yes, savin dem pennies). He's been thinking Vanguard, so we'll see. Keep us updated on what you choose!

Benjamin Skinner said...

Planning for your financial future is an excellent idea!