Retirement Contributions Here I Come!
Personal finance is a journey. It’s a way of life. Each road has many different choices. On this journey, it’s just you on the road. Each turn you make brings new experiences.
You can either choose to spend it on a nice juice box:
Or a lean, mean piggy!
Well, he doesn’t look that mean or big…
Last week, I set my retirement contributions at 10% of my annual pay. My company will be matching 7%. 10 + 7 equals 17%! Yesterday, I received all the funds’ prospectus (AKA financial information). Looks like I have some bed time reading for the next week or so.
I decided not to max out my 401K because we need to build our savings, pay for tuition, and we are still primarily depending on my income for living expenses. I still haven’t opened up a ROTH IRA. One step at a time peeps
It’s a little crazy to think I won’t be touching this money until about 3 decades from now. Hmm…talk about postponing pleasure. At least, I am not getting taxed now on the income. It will grow for years and years to become a fat little piggy.
Where in turn I can use to buy lots of crispy bacon! A girl’s gotta dream!!!
Have you started contributing to your 401K? How much do you have?
By the way thanks so much for reading my post yesterday: The Exciting and Not So Exciting Parts of Growing Up!