Well I really feel like it’s important to save for your future, regardless of what amount you can put in it.
I think it takes quite a bit to live and survive now and I think people sometimes look at their budget and are dealing with more immediate issues and they don’t look to the future.
It’s hard to see a long term benefit way down the road when your washer breaks down or this and that and life just happens.
If people can look at their budget and see what they can afford out of it they can cut some things that might not be as important to them in the day, like a $2 or $3 dollar coffee a day. That adds up. If you can take that money and set it aside, you really don’t even notice it’s gone because it’s taken out of your paycheck before you get it. You can utilize the plan and start seeing a benefit and as things compound it's going to be a large benefit to you in the future.
I took a pretty aggressive approach and I use the self-directed brokerage window so I can make stock purchases on my own. It’s nice to have the control. I realize that not everybody does that. Some folks just want to sign up for the plan and let it work for them and I think that’s a good option for those folks as well. I’ve enjoyed being able to use the self-directed account.
Deborah Taylor has come down to our office and conducted some training here. We get really good attendance when she comes down. Everybody’s very interested to hear what she has to say and she takes even complicated information and puts it on a level where normal people that don’t deal with finances everyday can understand.
It’s never too late to start if you haven’t already. Of course we have a pension and a lot of folks are crossing their fingers that we’ll have social security but I think it’s to everyone’s benefit to plan on not having that and to be as aggressive as you can about saving now, even taking into consideration the economy and life and how things happen. Just taking a look at your budget and seeing what you can do and putting that away so it becomes something larger in the future to rely upon.