Every time the market goes down my inbox explodes, my phone buzzes, and my ears tingle with the sense that people are fretting about their IRAs, 401ks, and investments.
One of the largest and most tracked indexes in the entire world just smashed a major, life-altering, massive, tremendous huge milestone: the Dow passed 20,000 for the first time ever!
Recently, the New York Times published an article ominously titled: Think Your Retirement Plan Is Bad? Talk to a Teacher.
Recently, Forbes was looking for an answer to an incredibly important question that millions of millennials/young adults are asking as well.
Since the overall market was Dow(n) again today, we felt this post a fitting follow up.
Yesterday's post impressed upon the importance of remaining calm, patient, and rational during a stock market dip. Our tragicomic Chicken Little showed us that we shouldn't rush to act without complete information, nor should we blow things out of proportion lest bad things happen.
My, oh my, the sky is falling!
I was writing an article for recent college graduates about "dipping your toes in investing" and reminded me that, while the steps are conquerable, investing your first $1,000 takes some impetus and some knowledge. Hopefully, the break down below gives you just enough of both.
On the third day of Christmas, my true love gave to me...three savings goals. Is this serious? You are giving me savings goals? What am I, a child who gets a quarter every time I do a chore? I’m not motivated by these petty things any more! I need substance.
On the Second Day of Christmas, my true love gave to me, two retirement accounts! Eww..really? These don’t come gift wrapped with a neat bow on top or shiny wrapping paper, but you sure can wrap up a lot of your income into these accounts and present them to your future self. I’m pretty sure that down the line when you start drawing on your retirement funds you will be thrilled with your younger self for this prescient action. Then you'll reach up and pat yourself on the back and say, “Awe shucks, thanks self for lending a hand, that sure was kind.”