It is so easy to push off making long-term investments. This is especially true if you feel like you don’t have what you need right now.
The irony in this is that you will likely always feel like you don’t have enough…and if you keep pushing off essential long-term investments, a time will come when you actually don’t have enough.
This is because we’re all wired to think a certain way about money and that rarely changes. You’re either content or you’re not. You save, or you don’t. You feel like you have enough…or you feel like you don’t.
So, in many cases, you just need to force yourself to make the investments. Luckily, that is really easy now-a-days because you can set up an automatic investment plan that will pull money straight from your checking account or even your paycheck. All you really need to do is set up the account. The rest will happen behind the scenes and you can completely forget about it. Then, when you need it most, it will be there.
So what are the critical long-term investments you should start making now? Here they are:
I am obsessed with saving for retirement. I’m also obsessed with collecting things. So it’s probably not surprisingly that I love finding different types of retirement accounts, different ways to save for retirement, and OBVIOUSLY any way to get “free” retirement money.
So I think it’s time to share! Not only do I know you all love posts like this, but I also can’t wait to hear your suggestions and ideas for MORE ways that we can hoard away money for our golden years. So don’t hold back! Hopefully my suggestions can help you as much as yours will help us. 🙂
Even for a person with a horrendous memory (me), I have vivid recollections of my pregnancy and the subsequent birth of my son. Ironically, one of the memories that still sticks with me the most was the total shock of realizing how much it costs just to be pregnant – and that’s with good health insurance (and a healthy pregnancy). Ultrasounds were considered elective, blood tests were extra, and of course there’s the deductible right off the bat. By the time we got to the hospital for delivery we had “luckily” reached our deductible and would only have to pay 10% of any additional costs…but as every other delivering parent knows, 10% of a whole lot is still a whole lot.
Luckily we were able to stomach the costs but it totally shifted how we managed our money and led to one of the best investments we’ve ever made – our Health Savings Account (HSA).
Every stay-at-home mom knows that being on the outside of the traditional workforce does not exempt you from planning and managing your long-term financial future. In fact, it usually means you have to work even harder and know even more because you don’t have essential investments managed for you on behalf of your employer.
Even if you have a partner that regularly contributes to their own employer-sponsored investment opportunities, you may not be doing enough. You still need to take additional steps to ensure that you are financially secure now and in the future.
Here are the investments that every SAHM should have: (more…)