If you have no retirement savings, you can set some up at an easy to use online brokerage: Your early twenties is a great time to start, managing your retirement account doesn’t really have to take a large amount of time, and 50 dollars a day should cover initial expenditures.
Also, at 29, I personally enjoy fiddling around with my retirement account… although it took me a while to figure out the right settings for myself and I did have some initial panics when it was smaller, I wasn’t as familiar with the pros and cons of various investment types, and one of my stocks had gone down quite a bit. Now that it is bigger and much more well diversified, it’s more fun.
Yeah, this is a priority for me. My plan is to stick my money in a few mutual funds and forget about it for 40 years. Hopefully the economy will grow in that time :)
Don’t forget to put some of it in a reserve fund that’s invested conservatively and easily accessible, and ensure that you’re covered in case of disability. Also, diversify between market sectors—an index fund is good and all, but the usual index fund is 100% US, and you want some international exposure.
How are your savings for retirement?
If you have no retirement savings, you can set some up at an easy to use online brokerage: Your early twenties is a great time to start, managing your retirement account doesn’t really have to take a large amount of time, and 50 dollars a day should cover initial expenditures.
Also, at 29, I personally enjoy fiddling around with my retirement account… although it took me a while to figure out the right settings for myself and I did have some initial panics when it was smaller, I wasn’t as familiar with the pros and cons of various investment types, and one of my stocks had gone down quite a bit. Now that it is bigger and much more well diversified, it’s more fun.
Yeah, this is a priority for me. My plan is to stick my money in a few mutual funds and forget about it for 40 years. Hopefully the economy will grow in that time :)
Don’t forget to put some of it in a reserve fund that’s invested conservatively and easily accessible, and ensure that you’re covered in case of disability. Also, diversify between market sectors—an index fund is good and all, but the usual index fund is 100% US, and you want some international exposure.