Powerful Suggestion

 

This post is written in response to today’s Daily Post about the one piece of advice I wish I had received years ago.

I wish someone had convinced 16 year old me to start saving at least $50 USD per month towards retirement. At the time I was more interested in paying for fees related to sports, going shopping, going out to eat with friends, and saving for a trip to Europe upon graduation.  I’m still proud that I paid my own way, however, now I am almost 29 and I am thinking more about retirement.  I didn’t start saving for retirement until I was 25 or 26!

As I have posted before, here and here, most international teachers do not have a retirement fund or social security to fall back on so we need to create our own retirement funds.  I’m sure if I had more time (or a more mathematically inclined brain) I could figure out what the balance would be if I had invested $50 every month into my Vanguard retirement account since the age of 16. I missed out on a lot of compound interest I’m sure. If you are so inclined, go ahead and do the math and post it in the comments section…but I’m already pretty sad thinking about all that lost money as it is! 😦

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4 responses to “Powerful Suggestion

  1. $50 a month since you were 16? Based on the S&P 500, maybe about $4,500 earned on a total investment of $7,800.

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    • Ah, Brie to the rescue! I knew there were people who would solve that problem for me! So $12,300 total? Yep, sadly, this is more than I have saved in that account now. Sigh. Love you Brie!

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  2. Pingback: Powerful Suggestion: Worrying (Daily Prompt) | Understanding and Embracing Diversity·

  3. I will never retire. I will work till the end. Maybe a fun work for community or still will be blogging. But thanks. At the moment dont have plan for kids, lets see where life takes me. Take care 🙂

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