Have you ever had anybody give you the advice that you should start a Roth IRA? That very same advice has come to me a fair number of times. The topic seems to come up at every business mixer I go to. All for the good, but it took me a long time to get in gear and get my Roth IRA started.
I thought about starting a Roth IRA occasionally over a long time before I did something about it. I think many people just think about it briefly – like I did – then dismiss the idea or something else gets in the way that keeps them from taking action. For me, it’s like anything else, when something seems like it will take a lot to get started I don’t do it. Other times I get hung up on the unknowns and decide that it is not worth my time.
But wait a moment. Let’s slow down a bit, and consider this: 2 reasons why you should start a Roth IRA.
Before I go any further, allow me to offer that a Roth IRA is simple to get started. Sure, I realize your embarrassment about calling your financial planner after all these years and asking for help. What you say is true, I agree, but still it is worth the time to pick up the phone to make the call to get the paperwork for your IRA rolling.
The first reason for starting your IRA is that the future ramifications of starting an individual retirement account are huge. In the case that you are serious about making contributions on a annual basis you can save a lot of money by the time you reach retirement.
Second, there are tax free and penalty free instances where you can access your IRA to pull money out. One instance is the case where you are buying a home as a first time buyer. A second instance is in the event that you need some financial help in the event of a serious medical setback.
Think this through seriously for just a moment: adding to your financial security in retirement and access to extra cash in certain instances without penalty. Perhaps you actually should talk to your financial planner first instead of listening to me. I finally did and I started my Roth IRA shortly after.
