Recently I have been doing a lot of research on managing finances smartly. I’ve learned a ton!
I think I may post some things that are interesting here for you all to read… But, I also want to say that I’m available to give advice on a one to one basis if you’d like.
First tip, PAY YOURSELF FIRST!
Okay, so I really dread this time of year because I never seem to have all my stuff together for tax time. I’m always looking all over the office or at various websites trying to pull together the data that I need. Now, I don’t really want to share my most intimate financial details on the internet (what!? why not!?) but I will say that every year I get a pretty nice present from Uncle Sam due to my investments in property, etc.
Anyway, on to what this post was about… Money. So I’m looking at my investments that I have and I’m remembering what my tax man said last year… “invest in your IRA more than your ROTH IRA, you’ll get money from the government for doing this.” Well, do you think I did that at all this year? NOPE. All of it went into the Roth. Now, there’s nothing “wrong” with that since I’m actually saving for retirement which is way more than some people these days. But, now that I’ve revisited the idea, I think I’m going to try and do that more this year vs. my Roth. I’ll still shove some cash that way when I can but I’m going to focus on my $5000 limit into my IRA. Now that I have a fee free account (thanks to my company’s recent IPO) at a new brokerage house, I’m going to see about rolling my IRA from where it currently is into this account and start saving that money!
I may do some updates on the progress of this over the next few months. Would any of you find this interesting? My good times and bad times in the crazy financial world?
So, update #1… I know, that was quick…
My initial investment in my company’s IPO has netted me a 31% overall return. Not too shabby!