Saturday, November 6, 2010
I've said it before but it's totally worth repeating: Start a Roth IRA as soon as possible. Even if you can only invest $50 a month when you start, it will help you in the long run. Tonight I made a new friend while at a bar with some other friends. She is a stage manager on a Broadway show. She started a Roth IRA at the age of 22 when she graduated from college. Since she started her Roth at such a young age, she only has to invest $200 a month until retirement to get around 1.6 million dollars! But if she were to wait till the age of 32, she'd have to invest $500 a month to get the same amount by retirement. So, start ASAP. The sooner you start investing, the sooner that money turns into more money. Awesome, right?