In hard times, it may seem so difficult to save and put away for retirement, but if you do not think about these things you can hurt your family financially. Even as a stay-at-home mom, it is suggested that you have a Roth IRA. This is an individual retirement account allowing a person to set aside after-tax income up to a specified amount each year. Earnings on the account and withdrawals after 59 1/2 are tax-free.
Investing is hard when you really don’t have the funds or the knowledge, but there are a few places to look to help you get started and begin investing like a pro. One is Bankrate and the other is Dave Ramsey’s Endorsed Local Provider program. These two sources can help you get started with finding the best interest rates from your savings account and help you figure out your retirement options.
If you have a 401(k) from your previous employer, roll that over into another account that will earn you money and that you can contribute to. If it is hard to contribute to your retirement account just start with $5 every paycheck. Every penny counts. So start investing in your retirement for a promising financial future.