Advertisement -- Learn more about ads on this site.

    TRIANGLE-WOMAN   37,007
30,000-39,999 SparkPoints

'Tis the Season...

Thursday, January 31, 2013

To digress from weight loss for just one brief moment and ask you to...

...think about funding your IRA contribution for 2012 (if you have NOT already done so!)

And then if it is at all financially possible....

You have until April 15 to fund 2012 (YES 2012!!) contributions up to $5,000.

You don't have to contribute the maximum! Any little bit will grow tax deferred and if it is in a Roth IRA, will not be taxed when you withdraw it.

Next year the limit goes up to $5,500 and you can start funding your 2013 contribution anytime after you finish funding the 2012 limit.

For a little light reading on the topic go to:

Now my husband is a complete freak of nature and had me putting aside IRA money when we were first married 24 years ago. How many people in their early 20's think about retirement? I was in college, he was in medical school. We still managed to get something put aside nearly every year.

I thought he was nuts, but saw the wisdom of it and went along with it. We have had some rocky investing years, but the power of compound interest does wonders over 25 years, ups or downs be damned!

For a really fun video blog on the subject of compound interest check out:

It is called: "How to Turn Your Dumb Summer Job Into $162,000"

Yes, I promise it is really quite fun and informative.

My CHILDREN are the ones who showed this to me so if it can hold a teenage girl's interest, it can hold yours! BE sure to show it your kids too!

Spark on!!


Member Comments About This Blog Post:
MCJULIEO 2/1/2013 4:16PM


Report Inappropriate Comment
OKBACK2ME 1/31/2013 8:57PM


Report Inappropriate Comment
ANNESYLVIA 1/31/2013 8:05PM


Report Inappropriate Comment
TATTER3 1/31/2013 6:38PM

    I have a friend in her 30's who recently got out of debt for house and home by using her investments that she started when she was 18. I'm playing catch up and it's a bear!! but retirement is looming and I've got to make a dent. Oh...I wish I'd started when you did!

Report Inappropriate Comment
SOUTH_FORK 1/31/2013 2:08PM

    Thanks for this! Its amazing how my meager contributions have grown over the years...

Report Inappropriate Comment
BELLAMEMAW 1/31/2013 12:20PM


Report Inappropriate Comment
GOOSIEMOON 1/31/2013 12:11PM


Report Inappropriate Comment
MANDELOVICH 1/31/2013 12:06PM

    Love this! My daughter will love it too!

Report Inappropriate Comment
NAYPOOIE 1/31/2013 11:40AM

    Excellent advice. I wish I'd started earlier.

Report Inappropriate Comment
ALICIALYNNE 1/31/2013 10:35AM

    I don't make enough to fully fund, but that money goes in every week! I go up to the full employer match for my company. Free money, honey!

Report Inappropriate Comment

Add Your Comment to the Blog Post

Log in to post a comment.

Disclaimer: Weight loss results will vary from person to person. No individual result should be seen as a typical result of following the SparkPeople program.

Other Entries by TRIANGLE-WOMAN