UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev | Next
Author: jerrtiff Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76237  
Subject: Do I need to invest for retirement? Date: 10/21/2001 12:57 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Ok, here's my story: I'm 25 y.o. male, married, with an 11 month old son. I'm in medical school and will graduate in May. My residency after school will last from 3-5 years, in which I will be making 30-40 K per year. After residency, I will be making anywhere from 150-250 K per year.

My questions are: Do I need to start investing for retirement (IRA) now? I will be able to open a Roth IRA for my wife and I this year, but do I really need to? Or would I be better off waiting until my residency if over? Is is silly to cough up 4 K now when I will be making very good money starting 3-5 years from now? I know the earlier I start, the more my interest will grow (hopefully), but with my future income, does it matter?

I thank you for any suggestions and comments.

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev | Next


The Retire Early Home Page
Discussion on accelerating retirement day.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Value Hounds

Considerable Headwinds for Profire Energy?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.