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Started Really Late

July 3rd, 2006 at 12:12 pm

I am so upset that I started so late in life to really take a good look at my finances. I am 32 and just really started contributing this year to my IRA account on regular basis, I only have about 686.00 in that account Frown Now I am on my part-time job which offers a 401K plan. Mow I am unsure how much I can contribute( I have so much cc debt)I was thinking about 4% which is only about $10.00 ( I do not make much here) or even 8% which will be about $20.00. Right now I contribute $40.00 to my IRA account after taxes on a monthly basis atleast my part-time job will match. If I had did this let's say at the age of 16 when I started working I would have so much money right now Frown

Posted in Miscellaneous | 4 Comments »

4 Responses to “Started Really Late”

  1. kashi Says:
    July 3rd, 2006 at 01:55 pm 1151934915
    1151934915

    Don't beat yourself up too much about it. There's nothing you can do to change the past, and you should be proud of yourself for starting to contribute to an IRA now! There are plenty of people much older than you who haven't saved a dime for retirement.

    Definitely put as much as you can into the retirement accounts you have...at least as much as your employer will match, if you can manage.

  2. Thrifty Ray Says:
    July 3rd, 2006 at 02:10 pm 1151935803
    1151935803

    I was another one who waited until I was past 30 to do this....but I did it anyways, whatever we could afford...and now I have a nice sized account that will continue to grow another 20 years.

    I think for you, 32 is the PERFECT age to start Wink (ie, today!!)

  3. ima saver Says:
    July 3rd, 2006 at 02:37 pm 1151937464
    1151937464

    I didn't open an IRA until about age 40 and didn't really learn about mutual funds until about age 44. I have done pretty well since then and you will too. Contribute all you can!!

  4. veronak Says:
    July 3rd, 2006 at 06:18 pm 1151950694
    1151950694

    Thanks guys a bunch, I needed that Wink

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