One of the FEW New Years resolutions i accomplished in 2006,,,,
I’d forgotten to note, that after getting that first paycheck, i went ahead and opened a Roth IRA account thru my credit union. When i found out it only required $5 to open one, i was All In….! (Somehow i’d laboured under the misunderstanding that it required a $500 or $1000 minimum.)
So yeah, with a whole $5.oo to start, i started my first retirement IRA in November 2006. I also set it up for an automatic deposit of $17.oo/month to go into the account. Some of my friend teased me about ”$17??” (implied that ‘what kind of savings can you really build with only $17 a month?’). But hey…gotta start somewhere, and gotta pay yourself first, right? And $17.oo is a consistant amount that i know i wont miss. (which is another trick i’ve learned over the years—make savings as unconsciously unnoticed as possible :)
i was proud to add my xmas $$ from relatives to the account in December as well (usually it winds up going toward bills)(not that i didnt have Bills it could have gone to!)And now, a mere 4 months after i opened the account, I’m proud to say the balance is over $140. Not bad,,,,not bad at’tall.
hopefully, i be able to add another big chunk with my minimal tax return. Chip, chip, chip….feels good to building some bit of security again….
:D6 years ago