How comfortable are you that you are saving enough for your retirement?
When I ask this question during my training workshops, most family child care providers answer that they are not at all comfortable.
You know that you probably aren’t saving enough for your retirement. There are many reasons why. You don’t earn enough. You are spending too much today. You don’t know how to save for retirement. And so on.
There’s usually always a good excuse why people don’t save more money. But, the main reason is because people make saving money their lowest financial priority. And this is a choice.
In other words, people could choose to make saving money a much higher priority, but they don’t. People could spend less if they wanted to on eating out or going to the movies, or buying shoes, or buying any item that is not a necessity.
When you are saving money for your retirement, you should be taking advantage of the significant tax benefits offered through IRAs.
This is the beginning of my latest podcast, “The Importance of an Individual Retirement Account.”
In this podcast I discuss the tax benefits of investing in an IRA and describe the unique differences of a Roth IRA.
Here’s a transcript for this podcast.
This is the fourth in a series of podcasts I am doing on the business side of child care.
Tom Copeland – www.tomcopelandblog.com