I choose to participate in the deferred compensation plan because I feel like it is important to have a secondary form of savings in addition to the pension that is supplied by the state. I feel like having that extra security and the money invested from the time that I began my employment is really important.
When we talk about money and our future and I'm young, I'm married, but I don't have kids. My husband and I are looking at buying a house. I mean, so many aspects of your life depend on your financial status, and I think as long as you monitor it and are aware of it you're going to be in a better position.
I had money in my 401K from my previous employer. And, I talked through several options, putting it into a Roth IRA or a standard IRA or rolling it into deferred compensation. Just kind of weighed my options, and I felt like this is the best option for me. I tell most people my age to start saving as soon as you can.
The longer that you have the money in place to grow whether it's through stocks, bonds, other options, the more secure I think you'd feel in the future. I really value that kind of security, so I want to have it in there for the long run. I don't want to depend solely on one form of pension. I feel like having extra money in deferred compensation would be icing on the cake.
I choose to participate in the deferred compensation plan because I feel like it is important to have a secondary form of savings in addition to the pension that is supplied by the state.
