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Don't waste time, energy, sweat and tears thinking about what you should've done. That ship has sailed. Truth is, most likely you made decisions on retirement contributions at a time when your earnings were lower and your expenses higher -- starting a family, buying a house, raising children, etc. The next phase includes paying for kids' colleges and other mid-life expenses. In short, you did what you did because that's what you had to do to make ends meet and to meet all of your non-work responsibilities. To the younger Fishbowl members, contribute as much as you can to your retirement fund, prioritize health benefits and life insurance benefits, and take advantage of any tuition-assistance, professional development and certification benefits your company may offer. The most important thing is to take care of yourself and your loved ones NOW. Now is all we have. Yesterday is gone and tomorrow may never arrive.
Great words of encouragement!
Bare minimum getting whatever the company matches for 401k. When I think back of all the money I basically lost out on because I just didn’t consider it! I look at company benefits now as part of my pay and make use of them to the fullest. Would have been nice to always do that, I know a lot better now!
Honestly, I wish I had a better understanding of how retirement packages worked and how important it was to max out my contributions, especially when my employer was matching my contribution. I was always more focused on getting a larger paycheck and now I don’t have a retirement to speak of
I tried to max out an independent Roth IRA when my company didn’t offer one. So glad I did before my salary grew to the point that I couldn’t. Now my company offers a Roth option which I’m trying to slowly move more of my contribution into as I get raises.