Finance Series: Introductory Post

I’m 41 years old, and I have been saving money for retirement for roughly half of those years. I thank my dad for that. He would talk to me about saving and investing so often that it was a normal topic of conversation for me. Thanks to him, I took two key pieces of action when I was in college: I opened an IRA and I started investing in a mutual fund.

I have had both of those accounts ever since, and over time, I have taken other steps to save for retirement, and while I am on track to meet my retirement goals, it is not uncommon for me to meet others in their 30s and 40s who have not started saving for retirement, and who aren’t sure how to start.

I am not a financial planner and have no credentials that qualify me to dispense investment advice. What I do have is personal experience and a low tolerance for being unprepared. I’m also a big fan of money and like finding ways to balance saving as much as possible while living my best life. In a series of upcoming blog posts, I will share some of my personal decisions and the information I have learned along the way.

My upcoming topics include:

  • Open an IRA: I’ll talk about what an IRA is and why (and how) you should start one
  • Invest in a mutual fund: I’ll talk about what that is and how it can be a great way to save a little extra money that you won’t miss and then watch it grow
  • Avoid debt like the plague, except when you shouldn’t: I’ll talk about the difference between good debt and bad debt.
  • Your FICO score: what it is and why it’s important, as well as how to build and maintain your credit history
  • When to co-sign a loan. (Hint: you should never co-sign a loan)
  • Car-buying: How to choose wisely
  • How much to save for retirement: are you wondering how to save for retirement when you can barely make ends meet? It’s possible. If I could save money when earning $9/hour without benefits, so can you.
  • Change your mindset, change your future: How to maximize the retirement benefits from your employer. There is no such thing as not being able to afford to get the full match from your employer.
  • When to hire others to help manage your money. Why have an accountant and/or financial planner, and how to afford them.
  • First steps: I’ll share the first, second, and third steps you should take toward saving for retirement, regardless of income.

What other topics would you like to see in this space?

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