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Originally Posted by Crompsin
Exactimundo. In my opinion, IRAs are what will save my generation (kids from the 80s) from Uncle Sam's broken system of limp-dick dollars. I think young people should invest in them (IRAs) starting as early as possible (college years or immediately after), even if their parents have to help get them the initial boost to max out the first 3 to 5 years. If you start an IRA at 18 you can essentially stop putting money in it at 35, or so I was told by a few financial gurus when setting up my own account.
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Not everyone in that age group has the option. I'd love to max out my RRSP contributions, but as I do enjoy eating, I find the actual execution difficult.
Unfortunately I don't have the option of running to mummy, either.
It's not always bad planning. Sometimes it's just bad circumstances.
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I wake up in the morning more tired than before I slept
I get through cryin' and I'm sadder than before I wept
I get through thinkin' now, and the thoughts have left my head
I get through speakin' and I can't remember, not a word that I said
- Ben Harper, Show Me A Little Shame
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