$100 is better than $50
As you know I invest the grand total of $50 a month to my 403-B. That may not seem like a lot but the way I see it those $50 are better off working hard earning something for the future than sitting at home being lazy. In the end though, that is only $600 plus whatever it ends up earning during the year that is being invested and that brings me to this question. Should I increase the amount being invested?, the answers of course is yes. The more you put away and the earliest you put it away to work for you the better you will be at the end. The next logical questions then becomes, how much more?, I think that doubling the amount to $100 makes a lot of sense and since that money is automatically deducted from my paycheck I won’t miss it. One of my goals is to invest 10% of my earnings toward retirement but at some point in time more than 10% will be required just to make up for time lost not investing. A small step in the right direction don’t you think. To conclude, remember that it is never too early or too late to start saving for retirement.
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