I am a single parent. Both kids have moved out for the time being. I have some credit card debt that I am quickly reducing to zero. Probably will have it all paid off next spring.
I own my home. My car is paid off in 9 months.
Currently my contribution is 10%. Should I go up?
2007-10-14 08:27:41 · 3 answers · asked by happydawg 6 in Business & Finance ➔ Investing
contribute what you can,%10 is good its not how much you contribute how often.Consistency is key with investing I think.I don't care if its just $20 every week as there as you do on a regular basis.Kudos for investing its a smart move.
2007-10-14 08:33:34 · answer #1 · answered by jonathan c 1 · 0⤊ 0⤋
Contribute at least up to what your employer will match. If its a variable annuity or B share mutual funds or something else with high fees, you may be better off in an IRA or something else after you reach the match. If its a mutual fund contribute as much as you can up to the maximum.
2007-10-14 09:16:49 · answer #2 · answered by jeff410 7 · 0⤊ 0⤋
In my opinion, you should contribute the maximum amount you can (that ceiling depends on your age). If you can set aside more into retirement investments, start a Roth IRA. Thats what I'm doing.
2007-10-14 08:34:55 · answer #3 · answered by npk 7 · 0⤊ 0⤋