Investing Associate
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Did you find yourself "retired" before you got around to saving up a nest egg? I sure did! Fell off the marketable list before I hit the big salary that was supposed to carry me into my golden years. Had to get busy finding out what was going on in my IRA, which I had neglected while I had salary incoming on a regular basis. Cried over some spilt milk, losses I'd taken by not tending to biz as holdings rose and fell, then tumbled farther without my cutting my losses. In at least one case, I bought more shares as a big holding of mine dropped lower and lower. I did not believe it could tank. It no longer exists. Insiders gutted the company. Employees filed an action, but the payment was a scant percentage of what was promised. Lawyers got the cream, left the watery remains to be divided among the chumps.
Took a decade for me to realize that I was not earning toward retirement and had better spend serious time 'growing' what remained in my IRA. I'm pleased to see my net worth growing yearly, as I skimp and save what I can toward conservative investment through monthly U.S. savings bonds. The i-bond earns 4.80% (at least up 'til November, when the rate changes) and I am struggling to keep on investing what I can each month. These are lean times, but I suspect there are leaner days ahead for me.
How are YOU coping, if you found yourself "retired" before you had set aside a nest egg of adequate size to ensure yourself a comfy retirement?
I suspect I am not the only one who wishes I'd started saving in my 20s, who did not have enough "left over" in my 30s, who got more interested in my 40s as I learned about 403(b) TSA and other instruments that I wish I'd known about when I was picking employers and changing jobs like mad.
Hindsight? Oh, it's 20/20. Today I invest in myself, taking money up front instead of waiting to see what's "left over" to save toward a nest egg.
What is your strategy for making up for lost time? I'd like to hear it! -Zer |
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