I read on-line that Jim Cramer, yes the guy who talks about stocks, lived in his car for six months. His apartment had been burglarized. The point of the article wasn't about his history and how he rose to his fortune, but rather that he saved, even when he was at his lowest point. Granted, it wasn't much during those six months, but he didn't put it off.
Every pay period a percentage goes into the 401k account. For a lot of people, though, it isn't enough for them to retire as they expect. I checked mine (have you?) and it seems to be in good shape. The problem is that no one knows what the future will bring. Today I am going to save a little something extra and put it aside.
This week I am going to have my kids open a bank account. Even if it is just with the "bank of mom"*.
Did you know that if you saved a $30 every month for 20 years you would have $11,003 (at 4% interest rate...who can get that? For another post...). Nothing to sneeze at...
*There are a few banks out there that have bank accounts for kids (ie no fees for low balances). When I find one I like, I will post it. Right now, I haven't been too impressed.
