I had a pretty lazy weekend this weekend. Well, as lazy as one can be when starting the weekend with a ten mile race. But with Saturday’s race, my spring racing season has come to an end, and now I have time to really work on my house again.
And one thing I got done this weekend wasn’t a house-related thing. I finally set up my Roth IRA contributions for the year! Yes, I realize that the year is almost half over. The whole house buying thing sort of threw me off track and I didn’t set anything up. But I am okay with that. As I have mentioned, I use Vanguard, and they have $3000 minimums for some of their funds. I’m happy with the funds I’m currently using, but after a bit of research, I found another fund I wanted to add. Which meant a $3000 minimum. I always contribute the maximum ($5000), and was ready for this $3000, so all is good. Now let’s hope my research was solid.
Of course, I’m not going to need this money for somewhere between 30 and 35 years, so there’s plenty of time!
Megan is a 30-something government employee in the Washington, DC area. She got interested in Personal Finance when she got out of college and realized that her paycheck wasn’t going to go as far as she had hoped. Since starting this blog, she has managed to buy a house and make a solid start on her retirement goals, and hopes to help others do the same. Here is her story:
In 2007, I was a gainfully employed 20-something with no debt but not a lot of knowledge about personal finance. It was a co-worker’s comment about Roth IRAs that sent me to the internet, searching for information. It was then that I realized that I really didn’t know a whole lot about personal finance and that my current financial situation was due a lot to inherent frugal tendencies, generous family members, a fear of debt, and good luck. While that was working for me, clearly I needed a better plan.
While I had no debt, I was also pretty much living paycheck to paycheck and not worrying about going over budget (I say this as if I had a real budget) because I had an emergency fund set aside to cover any overages.
Except that’s not what an emergency fund is for.
So I did a lot of research, read a lot of blogs, and decided that I needed a plan. I needed to budget. I needed to know what I was spending my money on. I needed to prepare for the future.
I decided to create a blog not only to make myself accountable to others but also to share the knowledge that I gained along the way. I’ve learned so much from my fellow bloggers, and I hope that my readers can find something useful in what I have to share as well.