By Chloe DiVita
Investing, it’s a huge topic currently. What are the best choices? What type of investing has the best return? The best tax savings? There are endless questions to ask, and many different answers to give.
The best investment usually comes down to your specific situation. Are you single? Married? What’s your income level? Your age? If you find a good Investment Advisor he/she will get to know you and your situation before advising you on a plan. My advisor has given us some good advice, and helped us start up on a plan that will maximize our savings. Thomas Ritzdorf. I recommend him if you are looking.
The earlier you start the better. At 25 if you invest $100 you can retire a millionaire at 65. Waiting until 30 would require double the monthly investment to reach the same end goal. In other words, if you haven’t started, what are you waiting for?
Be sure to use the internet as a tool of education. You can educate yourself about what types of investments there are. Are you thinking Roth IRA? Traditional IRA? SEP? The more you know beforehand, the better questions you can ask
I like the Roth IRA. It suits my abilities to invest, and the idea of getting money tax free when I’m ready to retire is quite attractive. However, like most plans, there are limits on how much you can invest each year. If you want to invest more you will have to pick more than just the Roth.
I encourage everyone to start thinking seriously about their future. If you are investing, is it enough? Do you know where it will leave you when you are 65? I know I don’t plan on going anywhere, and I’d like to live comfortably in my old age, so I research and I invest. I hope you do the same.
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