Today I heard about a teacher who had been investing in her IRA for the past 12 years.
She was having $300 sent to her account each month.
During this time she had contributed approximately $43,000.
While this is great, she didn’t actually have her money invested in anything.
Since she hadn’t specified an actual investment her money was in what is called a money market, basically making pennies throughout her investment period.
Now this is bad enough, but this time period also happened to be one of the best periods of time for investments.
If she had invested in an S and P 500 index fund over that same period she would have had $88,685!
That is more than double the money by just making sure you are invested. *past results never guarantee what will happen in the future*
There are investment vehicles like IRAs, 403b, 457, 401k, brokerage accounts, and HSAs.
These accounts do not automatically invest until you pick an investment within the vehicle!
Today take a few minutes and check your accounts to make sure that you are in an actual investment.
Have a bada$$ budgeting day.
David - The Budget Teacher
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