My Generation Not Investing in Retirement Makes Me Sick


The idea of not investing in my retirement makes me sick. Why? Because I have an awesome husband and four amazing kids, and one day I’d like to retire so that I can spend time traveling with my love and undoubtedly heading all over the world to visit my successful children and their little families. And I don’t want to worry about how I’m going to make that happen. Investing in retirement is one of the most financially savvy things anyone can do, and we have advice from 401K millionaires that will hopefully help you out (Let us mention each of these people has been investing for decades and makes less than $150,000 per year so you can see they’re pretty regular people).

Start Early

Want to know what else makes me sick in terms of investing? People who wait too long to start investing; it’s a bad idea. Just because you are 22 and fresh out of college working your first job doesn’t mean “you have time”. In fact, it’s just the opposite. For example, if you’re 22 and you have no other bills, taking money out of your check pre-tax to invest in your retirement is going to make a great habit. You’ll never miss that money because you never have it. And you’ll have that much more time to make your money grow.

Invest the Max

If your employer allows you to invest 12% of your income and they match even just a portion of that, invest the maximum amount allowed. You can easily accumulate millions in your retirement account by doing this; it’s not that difficult. Invest the max and earn that free money your employer is handing over to you. The more you contribute, the more free money your employer contributes.

Never Cash Out

It’s so tempting to look at the amount in your retirement account and make the decision to cash out when you change jobs, but don’t do it. You’ll pay taxes on that money. Then you’ll lose it. Even if all you have is $10,000 in your account, you have to save it. Keep it in there. It doesn’t seem like much, but it is a lot; and it does add up in the long run.

Photo by Spencer Platt/Getty Images


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