Currently, we are in the midst of graduation season, and you may be invited to a graduation party or ceremony where the attendees are much younger than you. Recently, I have had several encounters with young people who are young enough to be my grandchildren. One encounter resulted in a young lady asking me if I could be a mentor to her. I was surprised and flattered. I look forward to sharing what I’ve learned along the way in terms of fashion and now running a small business. The other day, I was in my eye doctor’s office, and somehow we got on the subject of retirement accounts, and I took the opportunity to share some information with him about money and saving for retirement. He seemed to appreciate what I had to say. It feels good to share something with someone that is helpful to them. Not long ago, I explained to a good friend information about Social Security benefits that they were not aware of. Now that I think about it, I have shared this same information with several people, and they were so grateful for the information and acted on the advice I gave them right away. The information I shared in these cases was public information and was not hidden anywhere, but sometimes it takes someone who has experienced the issue and received a good outcome for others to believe it is true. One thing I would like to share with you now is that if you have the opportunity to save money for your retirement with a company that you are working for and you can choose between a 401K and a Roth IRA, if I had the opportunity to do it over again, I would select the Roth. Pay the taxes up front instead of years down the road. Share those nuggets of wisdom that you have learned, and let’s make it easier for the younger generation.
Email the columnist at debbienorrell@aol.com
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