Another Step Towards 2016 Goals

24 Mar 2016 23:23
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My goals this year are pretty lofty and the only way to get their is to climb one step at a time.

Of my six goals there was one I had yet to start and as of this week I can change its status to working! I finally opened a Roth IRA with a $100 contribution. It is a pretty small step but important to get where I want to be.

My long term saving goal for the last 20 years has prioritized saving & investing in a taxable account first to account for any curveballs life may throw at me in pre-retirement and to save in a tax deferred account as my second priority.

Currently I am 48 years old and my strategy was to maintain this saving & investing approach until 50. With just two years to go until 50 I'm starting to prepare the next change in my strategy to make tax free & tax deferred my number 1 priority and investing in my taxable account my number 2 priority. With a Roth IRA & 401K in place I am now in position to make the flip at age 50.

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