Comments on: Don’t Be a Loser and Wait Too Long http://moneyning.com/better-yourself/dont-be-a-loser-and-wait-too-long/ A personal finance blog where we share insights on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom! Sun, 21 Mar 2010 19:25:36 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: Sandra http://moneyning.com/better-yourself/dont-be-a-loser-and-wait-too-long/comment-page-1/#comment-16238 Sandra Fri, 29 May 2009 07:15:34 +0000 http://moneyning.com/?p=2987#comment-16238 Great Blog! Would you be interested in mentioning a movie about Stock Market Manipulation that is coming out on June 10, 2009? Please check out the site and movie trailer at stockshockmovie.com It has been a really fun project and will hopefully help thousands of people to protect their investments! Movie is called: Stock Shock! All the best, S Great Blog! Would you be interested in mentioning a movie about Stock Market Manipulation that is coming out on June 10, 2009?

Please check out the site and movie trailer at stockshockmovie.com

It has been a really fun project and will hopefully help thousands of people to protect their investments!

Movie is called: Stock Shock!

All the best, S

]]> By: TStrump http://moneyning.com/better-yourself/dont-be-a-loser-and-wait-too-long/comment-page-1/#comment-16237 TStrump Fri, 29 May 2009 05:08:15 +0000 http://moneyning.com/?p=2987#comment-16237 I recently just opened up my discount brokerage account, but I was planning on doing it in Jan/Feb. Had I done it then, I would have been able to buy stocks when the market hit bottom. Oh well. I guess everyone has 20/20 hindsight. I recently just opened up my discount brokerage account, but I was planning on doing it in Jan/Feb.
Had I done it then, I would have been able to buy stocks when the market hit bottom.
Oh well. I guess everyone has 20/20 hindsight.

]]> By: MoneyNing http://moneyning.com/better-yourself/dont-be-a-loser-and-wait-too-long/comment-page-1/#comment-16234 MoneyNing Fri, 29 May 2009 00:40:26 +0000 http://moneyning.com/?p=2987#comment-16234 Why wait till the end of this month? Do it now, because later is always too late. Why wait till the end of this month? Do it now, because later is always too late.

]]> By: marci http://moneyning.com/better-yourself/dont-be-a-loser-and-wait-too-long/comment-page-1/#comment-16229 marci Thu, 28 May 2009 22:24:44 +0000 http://moneyning.com/?p=2987#comment-16229 Ok - so we are all guilty of this somewhere along the way - and hopefully one learns from one's mistakes. Now - one of my favorite sayings.... "Mitigate the damages." Minimize the future losses in some way. While you cannot make up the contribution to the IRA, you can still do something to make up for that lost investment. You could invest in something of an equal amount of money - such as tax free bonds, or munis, or something that you are comfortable with that has minimal taxes involved... While this will not ever make up for the IRA contribution that you missed, it WILL (hopefully) grow in value as an investment and you will have it available for retirement later - OR you could use it as a part of your down payment later, which would also be a way to invest in your future. It's a way of making up - in part - for the mistake. A way of gaining something monetary from the lost opportunity. A way of lessening the loss in future earnings and investment growth. It's the closest you can come to having made the IRA in time. That, plus make sure you get it right this year :) Good post! Great reminder. Ok – so we are all guilty of this somewhere along the way – and hopefully one learns from one’s mistakes.

Now – one of my favorite sayings…. “Mitigate the damages.” Minimize the future losses in some way. While you cannot make up the contribution to the IRA, you can still do something to make up for that lost investment. You could invest in something of an equal amount of money – such as tax free bonds, or munis, or something that you are comfortable with that has minimal taxes involved… While this will not ever make up for the IRA contribution that you missed, it WILL (hopefully) grow in value as an investment and you will have it available for retirement later – OR you could use it as a part of your down payment later, which would also be a way to invest in your future.

It’s a way of making up – in part – for the mistake. A way of gaining something monetary from the lost opportunity. A way of lessening the loss in future earnings and investment growth. It’s the closest you can come to having made the IRA in time.

That, plus make sure you get it right this year :)
Good post! Great reminder.

]]> By: Car Insurance Guy http://moneyning.com/better-yourself/dont-be-a-loser-and-wait-too-long/comment-page-1/#comment-16226 Car Insurance Guy Thu, 28 May 2009 18:56:57 +0000 http://moneyning.com/?p=2987#comment-16226 I should have started investing earlier. I'm 25 now, so I suppose it's not too late. I like you, have often come up with excuses but will now open one up by the end of this month. I always used to forget to pay my student loan bill until I switched to automatic payments. The reason I never did this in the first place is because I used to not have enough money to cover my automatic payments sometimes, and that habit has stayed with me. I should have started investing earlier. I’m 25 now, so I suppose it’s not too late. I like you, have often come up with excuses but will now open one up by the end of this month.

I always used to forget to pay my student loan bill until I switched to automatic payments. The reason I never did this in the first place is because I used to not have enough money to cover my automatic payments sometimes, and that habit has stayed with me.

]]> By: No Debt Plan http://moneyning.com/better-yourself/dont-be-a-loser-and-wait-too-long/comment-page-1/#comment-16225 No Debt Plan Thu, 28 May 2009 18:26:10 +0000 http://moneyning.com/?p=2987#comment-16225 I did this with my student loans for my MBA program. My last term is this summer and I misread an email about needing to re-apply. I thought I didn't need to, turns out I needed to and the date it was due was May 8th. Payment was due yesterday, and I missed that too (because I didn't know my loan didn't fund). Since I've been reimbursed by my employer for my other classes, I just decided to pay for it out of pocket... but waiting almost caused me a bunch of headache because if I was too far they would drop me from the class. Oops. :) I did this with my student loans for my MBA program. My last term is this summer and I misread an email about needing to re-apply. I thought I didn’t need to, turns out I needed to and the date it was due was May 8th.

Payment was due yesterday, and I missed that too (because I didn’t know my loan didn’t fund).

Since I’ve been reimbursed by my employer for my other classes, I just decided to pay for it out of pocket… but waiting almost caused me a bunch of headache because if I was too far they would drop me from the class. Oops. :)

]]> By: MoneyNing http://moneyning.com/better-yourself/dont-be-a-loser-and-wait-too-long/comment-page-1/#comment-16223 MoneyNing Thu, 28 May 2009 16:43:08 +0000 http://moneyning.com/?p=2987#comment-16223 I think what you mentioned is very common, and hopefully what I wrote today will get people to take action. There was a colleague of mine that spent 6 years at the company I was working for without investing. He just kept putting it off so he really missed out on a ton of company matches, which must be in the low 5 digits I'm guessing. I think what you mentioned is very common, and hopefully what I wrote today will get people to take action. There was a colleague of mine that spent 6 years at the company I was working for without investing. He just kept putting it off so he really missed out on a ton of company matches, which must be in the low 5 digits I’m guessing.

]]> By: MoneyNing http://moneyning.com/better-yourself/dont-be-a-loser-and-wait-too-long/comment-page-1/#comment-16222 MoneyNing Thu, 28 May 2009 16:41:03 +0000 http://moneyning.com/?p=2987#comment-16222 My wife and I have separate retirement accounts (actually, I tried to combine them before but I was told that it needs to be separated by law). I do manage her retirement accounts but they are much more passive than my own. The $500 that I'm talking about is for my SEP IRA, which is my own. My wife is still contributing to her 401k through her work. My wife and I have separate retirement accounts (actually, I tried to combine them before but I was told that it needs to be separated by law). I do manage her retirement accounts but they are much more passive than my own.

The $500 that I’m talking about is for my SEP IRA, which is my own. My wife is still contributing to her 401k through her work.

]]> By: Craig http://moneyning.com/better-yourself/dont-be-a-loser-and-wait-too-long/comment-page-1/#comment-16221 Craig Thu, 28 May 2009 16:34:01 +0000 http://moneyning.com/?p=2987#comment-16221 I was the same way and intimidated by the sense of a retirement account and the lingo and terms that go with it and all the options. I learned the minimum basics and took action, but missed out on a few months. Being young figure I am still in a better position than most and a few months over 40+ years won't hurt. I was the same way and intimidated by the sense of a retirement account and the lingo and terms that go with it and all the options. I learned the minimum basics and took action, but missed out on a few months. Being young figure I am still in a better position than most and a few months over 40+ years won’t hurt.

]]> By: Aaron http://moneyning.com/better-yourself/dont-be-a-loser-and-wait-too-long/comment-page-1/#comment-16220 Aaron Thu, 28 May 2009 16:31:40 +0000 http://moneyning.com/?p=2987#comment-16220 Are you and your wife managing separate retirement accounts, or is that $500 a month going towards both your retirements? I'm wondering how actively you want to manage your spouse's finances, but I suppose that's a case-by-case issue. Are you and your wife managing separate retirement accounts, or is that $500 a month going towards both your retirements? I’m wondering how actively you want to manage your spouse’s finances, but I suppose that’s a case-by-case issue.

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