The weather is awesome, it was a great day, I knocked many things off of my task list, but the thing that is fresh in my brain comes from opening a letter from my 401(k) provider. Sitting on the countertop was my quarterly earnings statement and it contained a lot of good news.
Over the years my investment in the 401 has been helpful in many ways. Before Becky and I were married I wouldn’t have trusted myself to put cash away for the long term. One of my business deals happened only because I was able to pull a loan from my own 401 to use to make the downpayment and I then paid it back over the next five years. There’s a sense of long term stability I have when I see what my potential monthly income is when (if) I finally retire at 65-ish. Everything in that statement makes me smile (at least this month!).
The part that makes me chuckle is thinking back to when my parents told me how much to put in as soon as I was able. They said I wouldn’t notice it when I started contributing, and it was better to start early, so I did. Had it not been for their advice I’d probably have used it for extra beer money or fantasy football wagering back in my early to mid twenties.
Needless to say, I’ll be focused on teaching my boys the same concept… Put as much cash in your 401(k) as soon as you can. Who knows what the future will hold, but for now I can sleep a little easier thinking of the future and all the life that Becky and I want to live when we’re old farts!