Save money? retirement plan?
Hi, im a 23 year old army soldier whos serving in iraq. I have been very bad with my money but thats gonna have to change because im getting married when i go on leave. Im thinking about putting money away, like a retirement plan or something. Can anyone name programs that i can do to start saving up now? Thanks
Public Comments
- Roth IRA's are good
- Start saving at least 10% of your income right now. Open an IRA or similar account and start an automatic savings plan. Learn to live without this money and let it grow in investments. I recommend growth funds at your age. Call up Fidelity or Vanguard to get yourself started. Get financially intimate with your fiance right now. Lay everything out and start developing a plan for retirement, house, family, and your life goals. Her habits may be worse than yours. A significant portion of divorces in our nation are attributed to arguments over money. That is not to scare you, but just to give you a heads up. Learn to talk about these things openly with your wife to be. If you want to get a full financial 101 lesson, I recommend picking up Personal Finance for Dummies. If you want to find out what you may need for retirement specifically, there is a 40 year investment calculator at the link below. Plug in your age, investments, and it will tell you what you could have at any given time within the next 40 years. Good luck and God bless soldier!
- Open a brokerage account at TD Ameritrade and then drop me a line. I will help you for FREE. Top 4 Answerer.
