PF in the Singular Form: Beginning Retirement Savings

This post is the latest in a sometimes series about personal finance and how it applies to single people. I plan to put them all in a category, but don’t hold your breath waiting for me. As with all financial advice, don’t trust a stranger on the Internet to know what’s best for you and your financial situation. Educate yourself.

Retirement. It’s going to be at least 30 years until I get to think about it.

So I think about it a lot.

Not so much in a “Maaaaan, I want OUT of this cubicle!” kind of way, but more in a “Maaaan, what do all these letters and numbers mean?” I’m trying to learn, but there’s a LOT of them.

Some people would say I started late to the retirement savings game.

I’d say I win, because I’ve started. I take the full match from my employer, and as of a few months ago, I contribute an additional percentage on top of that to a Roth IRA.

Okay, to be fair, I contribute an additional miniscule percentage on top of that to a Roth IRA. But I’m counting on two things:
1) that compound interest is awesomely sexy, and
2) Roth IRA contributions come out after the (ridiculously and historically low) taxes on my current paycheck, instead of being taxed upon withdrawal in a future time with robot eyes and higher tax brackets.

A lot of people out there in the Intertubes seem to be asking, “How much is enough to save for retirement?” I’m thinking that at the stage of the game I’m at, that shouldn’t be my first concern. My first concern should be saving ANYTHING for retirement.

In a dozen years or so, I’ll reevaluate. Right now, I’m sending my nickels and dimes on a time travel adventure! INTO THE FUTURE! WOOOOOOOoooooOOOOOOOoooooOOOOOOOO


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