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    TRIANGLE-WOMAN   31,309
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'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:

www.irs.gov/Retirement-P
lans/Plan-Participant%2c-E
mployee/Retirement-Topics-
IRA-Contribution-Limits


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:

www.youtube.com/watch?v=
gStH5oFDQDw


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!!



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  Member Comments About This Blog Post:

MCJULIEO 2/1/2013 4:16PM

    Neat!

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OKBACK2ME 1/31/2013 8:57PM

    :)

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ANNESYLVIA 1/31/2013 8:05PM

    emoticon

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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!

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SOUTH_FORK 1/31/2013 2:08PM

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

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SWEETYOUNGTHING 1/31/2013 12:20PM

    emoticon

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GOOSIEMOON 1/31/2013 12:11PM

    emoticon

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MANDELOVICH 1/31/2013 12:06PM

    Love this! My daughter will love it too!

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NAYPOOIE 1/31/2013 11:40AM

    Excellent advice. I wish I'd started earlier.

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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!

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