I had heard of the term Roth IRA before, but I really did not know anything about it other than it was about saving for retirement. When my ex divorced me though, I knew that it was time that I started taking care of myself. I had relied upon him to handle all financial matters, and I knew that I never wanted to be that dependent on anyone again. I am still young, so there is plenty of time to figure this out, but I wanted to get started sooner rather than later.
Most of my friends had been saving for their retirement for several years at that point, so they were able to advise me of a few things. One told me to go to the same website she had used to get information when she wanted to start saving for retirement, and that turned out to be the best advice that I could have. I learned all about individual retirement accounts and the different kinds there are. I was able to read about the 401K plan and the traditional IRA plan, and that allowed me to make the most informed decision on which would be best for me.
After reading about the different plans, I knew that the 401K was going to be the best one for me. With this one, I would be more flexible when it comes to how much I can contribute to it, and I can always change my plan if things get a bit rough financially for me. I learned through my divorce that a stable situation can change overnight, and I wanted to be prepared for that as much as I could be. I also liked that my employer would be able to contribute as well, which would help me in the long run. Being educated on these matters is the only way to go, and this website led me down the right financial path.