Make the Commitment to Setup an Investing Account Today
Hopefully the series of recent stock market investing posts I’ve been creating here at MoneyAhoy has helped you realize that everyone should be saving for their retirement. Now comes that hard part – you need to make the commitment to setup an investing account today! By investing some amount of your annual income in the stock market, you open more financial options for yourself. If you do not develop the habit of investing periodically at a young age, you will be missing out on hundreds of thousands (or perhaps millions) of dollars to provide for a secure retirement.
It Is Never too Late to Start Investing!
If you have not started saving for your retirement yet through investing, do not panic. It is never too late to get started! As the famous Chinese philosopher Laozi once said: “a journey of a thousand miles begins with a single step.” Make the commitment to yourself to enroll in your company’s 401(k), set up an IRA, or sign-up for your own personal investment account today.
Investing and Debt – Don’t Worry
Even if you are tens of thousands of dollars in debt, you should still be investing for your retirement! That’s right – company matching and tax incentives will far outweigh the interest you will pay on just about any type of consumer debt. The previous post on 401(k)s illustrated how you will be better off in the long run if your first priority is saving for your retirement through a 401(k) versus paying off consumer debt. Unless you have a bounty on your head from a loan shark, or some other sketchy character, investing for retirement should be your top financial priority.
The different types of investments accounts available to you can be a little confusing at first glance. The recent article I published in IRAs illustrated the differences and similarities between a: 401(k), traditional IRA, Roth IRA, and personal investment account. Make a mental note of which type or types of investment accounts seems best for you.
Make the Commitment to Setup an Investing Account Today – Final Thoughts
Now that you are convinced that everyone should be investing in the stock market, we are ready to start funding our investment accounts, right? You bet!
You can start funding your investment account through signing up for your company’s 401(k) or setting up an IRA account with any of the major brokers. That’s step #1 – just making the commitment to yourself that you’re ready to get started. Once your account in funded, you can start to learn a little more about stock marketing investing.
Remember – it’s never too late, or early, to get started investing in the Stock Market. If you are ready to learn more about stock market investing, check out my free 150+ page eBook – Stock Market Investing for Newbies. If you don’t have an IRA currently, please consider signing up for one today!
