How to Begin Retirement Savings

[Chett]

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As I wrote on Tuesday if you haven't began retirement savings yet, you need to make plans to start in the near future. This is my second attempt at writing this post. My first attempt ended up almost 1 1/2 pages long and I was only on the first topic of three topics I was trying to cover. If you are like me, you never would have wasted that much of your life reading about retirement savings. So, I decided to find a video that would help summarize the points I want to make and a few links to some good websites that keep the points simple and to the points.

For me, I invest money outside of my teacher pension, in an IRA (Individual Retirement Account) and put the money in an index fund. For me, it is the simplest, safest way to save money for the future. I know the risks of the stock market are scary and the potential for my money to shrink in the stock market is real possibility. But an even scarier more realistic fact is, if I don't save now I will be broke in the future, depending on a hand out from social security that will provide less than 1/3 of the money I'll need to live a dignified retirement. I'll take my chances with my IRA.


What is a Mutual Fund
What is a 401k
What is a Roth IRA (If this page asks you for an email address just click "back" on your browser then click back on the link again and it should let you read the article)