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Since I have a traditional 401K and a rollover IRA, I think a Roth might be a good hedge against taxes later.]]>
Way back in the day a professor told me about IRA’s. Two thousand a year was the limit back then (around 1985). Great idea I thought. I left the class, went out with a buddy, drank beer, forgot about the Roth. Twenty three years later I wish I headed to a broker rather than my friends house.
Don’t get me wrong, my wife and I are on our way to a comfortable retirement…but boy-oh-boy if I had heeded my professors advise, I would be retiring in 8 years at the ripe old age of 50 instead of at 60.
Kids, DON’T DO WHAT I DID! Take it from an old man at the ripe of age of 42 . Save for retirement as soon as you leave college!
Sure, you have the whole world ahead of you. Time is your friend in all things financial. But don’t procrastinate. Time is not your friend when it comes to retirement. It’ll be here before you know it.]]>
We’re going to try to start funding one for him later this year as things settle down.]]>