Paying Myself - A Five Minute Freewrite

in #freewritelast year (edited)


I didn't know anything about stocks or bonds or 401K until I started at my current job as phone customer service. I was offered a 401k savings account when I worked at my previous job, but I made so little money as a supervisor for 6 years I just couldn't spare to skim any of my wages to invest in my future.

When I began working at my current company seven years ago I filled out the application because I was automatically eligible for a 401k and was vested upon hire. That means automatically I earned a percentage of the dividends that the money earns. What's more, the company matches the first 3% of your investment by 100%, so dollar for dollar who would not be smart enough to invest? I have the option of raising my investment every year incrementally automatically. However, the next 2% that I invest, the company only matches 50% of every dollar. So, every dollar is matched at fifty cents. Since I was vested from hire date, that's just become money in my pocket that I take with me even if I quit.

I started my current job making $4.00 more an hour than I made working as a supervisor for six years. I could afford to invest.
It is 7 years now and I'm slowly building up a nice little fund to take away once I retire or quit this job and move on. It's an awesome feeling knowing that I can accomplish this.

I have not invested more than the 5% that work matches some of. Due to my age, I could invest a substantial amount more. I still don't make enough money to feel comfortable bumping that up over and above what the company matches. Maybe someday I will!

Times Up!

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Most of us have been working for money in order to have enough for life. We really need to find a way to let some money work for us too! Investment is one of it (not sure if there are any other ways)... Knowing that some of the money will grow by itself is really exciting... 😁

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Thank you so much! It is a hard thing when you are living and the mouth. But I feel like I'm finally starting to make a little bit of progress. I'm also paying off college loans on a credit card that I took out in college but baby steps!

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Awesome! 💪💪💪 And before I forgot, this can be a good entry for MakeMeSmile too... As I feel that this is making you 😊. Just drop this post link at my announcement post here and you stand a chance to win 1 SBI and/or 1000 Partiko Points. 😉

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Thank you! I will do this.

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I am so glad that you are finding a way out of living hand to mouth. I only know too well what that feels like!!

giving you your 100% upvote for the poetry digest suggestion here :)

Thank you so much for the vote! Yes, it is comforting to know that I have a little bit packed away for the future. Things are always tight, but you learn how to spend your money wisely.

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Once Steem takes off, you can invest more. 💕

Today's prompt brought to you by Bruni 😻
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https://steemit.com/freewrite/@mariannewest/day-461-5-minute-freewrite-thursday-prompt-in-the-limelight

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I'm a little late in thanking you, but I do appreciate your faithful link drops.

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You're welcome. 💕

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It takes awhile to have the foresight to plan for the future.. everyone at their own time. Just hold back feelings of regret not starting sooner, it's not worth the mental energy.

I started with drinking less come every day and putting the money that would've gone towards that in a box I cashed out every $100 or so into other investments. It worked great for years!!

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