Comments on: The Power of Knowing When to START Investing

By: Money Saving Success Stories- 4 People Retired Millionaires with Average Income

Money Saving Success Stories- 4 People Retired Millionaires with Average Income — Tue, 04 Apr 2017 07:21:12 +0000

[…] Related: The Power of Knowing When to START Investing […]

By: Nick Arko

Nick Arko — Sun, 01 May 2016 07:49:52 +0000

Very informative post and sound advice on building an emergency fund FIRST. I began building my own emergency fund right after college, and began by deciding how much I needed to survive somewhat comfortably and then saved the rest of each paycheck. In addition to saving, I committed myself to contributing a minimum of 10% of my monthly net income to towards my IRA (I automated my account to auto-deduct my target amount for easier management). I have since saved up enough $ in my emergency fund to start working on a personal investment fund (outside of my savings and IRA). This way I have money put away to invest in new skills or anything else I want that will generate an ROI.

By: Peach

Peach — Mon, 18 Apr 2016 12:50:05 +0000

In reply to Kalie @ Pretend to Be Poor.

Thanks for your comment Kalie!

Opportunity Cost is often forgot about or neglected because we don’t really see it or initially feel it. It’s similar to a really bad sun burn….you don’t realize it until much much later 🙂

This is why I added in the calculation so you can actually SEE it. And, seeing is often believing.

Thanks for reading!

By: Kalie @ Pretend to Be Poor

Kalie @ Pretend to Be Poor — Mon, 18 Apr 2016 12:41:41 +0000

Very informative and I love the exercise of calculating the opportunity cost of debt. We did invest to get the employer’s match (which was particularly good at the time) before paying off our student loans, but were able to pay those off long before they were due.

By: Peach

Peach — Wed, 13 Apr 2016 19:26:31 +0000

In reply to Kayla. Hi Kayla, You're being proactive with your retirement which is exactly what wealthy people do! However, I don't want you to think of your ROTH IRA as a payment, but rather an investment in yourself. Your future self will thank you for it...I promise! Also, did you know you can also do a Spousal ROTH IRA? Something to think about :) Nice job Kayla!

By: Kayla

Kayla — Wed, 13 Apr 2016 13:30:45 +0000

Glad you mentioned the pension issue. My husband is in law enforcement so we contribute 3.5% for a state pension but considering they have altered it twice in the 4 years he’s been on we are not feeling secure with it. So we started a Roth IRA last year. At only 24 years old we are definitely in the minority, in fact we don’t know any one else on the force doing a separate contribution. It’s a hard payment to make but we don’t look at it as voluntary. We have big retirement dreams!