I am getting 401k envy reading this thread. Have not contributed a dime since I left my corporate job last July. Will get back on track soon!!
Yes. Do not time the market just stock away everything that you can. You will eventually want to time it. DO NOT I REPEAT DO NOT. on another note, i'd give my 401K back to be 28 again lol.
Yes, and if the market crashes and never ever rebounds then most probably you will be out of a JOB and have other issues to tend to. Good luck.
From someone who's been there done that, here are your most important edges: 1. Time, to add to your holding and to compound. 2. The wonderful law of compounding after 30-40 years. Forget about timing the market the most important is in the market all the time with regular contributions. This will make you very well off by the time you are ready to quit your day job. Oh, and if I were you, I go Roth so everything will be tax free when you withdraw.
I have an IRA....just have not had a steady income since last July when I began working on my startup full time. That will all change soon.
Well yes in hindsight it would have been good to be investing in 2007 since look at where we are now in US markets. . But what if that had been in Japan in 1990 instead..... Anything can always happen in the market.