Retirement, the thing you look forward to all your life. This is something I am pretty passionate about. My place of employment contributes 4% of my wages automatically. If I put 3% of my wages in, they will match that 3%. For the first two years of my career, I didn’t put the 3% in. My thought behind this was I would use the money to pay down debt. Looking back now, I realize that was one of the dumbest things I have ever done financially. I was basically turning away free money.
I have since changed my ways, and have been contributing to my retirement for the last 2 years. Also starting two years ago, I started self managing it. The first year had its ups and downs as I was learning about the stock market. It is a lot more complex than I ever thought it would be. This year has been a lot better. Currently I am up 12.6% in my 401 for the year. I have a goal of reaching at least 50%. A lot of people might think that is unrealistic, but I am not one of those people. I probably should clarify I am not currently a long-term investor. I am more of a swing-trader/day-trader. I would like to actually invest longer term but not when the market is this high.
For now, my only retirement account that is funded is my 401. I also have a Roth IRA but have not yet contributed anything to it. Although it is in my plans to fund it, it will not be until after my debt is gone (other than my mortgage). I plan on being able to fully fund it next year.