Savings Plan

Hi, I'm not dead...well, not yet fortunately! hehe. Just haven't been able to get the internet connection at my new place up and running. Been so busy with (yeah you guessed it), work! Of all the things!

Anyway, I shouldn't rant here. I'll set up another blog just for that. lol.

So, here I am, at my friend's place. Finally online after weeks of being 'unconnected'. The first thing I came across with was this Yahoo! Finance page, which flashed something that got my attention. After clicking on it, I came to a page that says 'the get-started savings plan'. And so I read on. A reader had posted a question which I find very interesting coz it sounds a bit like what I'm 'going thru' (ok well, just the part about being more confused than ever, rofl). Here it is:-

Question: I'm a 24-year-old woman looking to start a saving plan. I've cleared all my debt and have started an emergency fund, but I'm unsure how to proceed from there. I've read so many books and articles that I'm more confused than when I started. I tried talking to a financial adviser, but she told me to come back when I have $10,000. I'm so worried about doing it all wrong that I'm tempted to just open an IRA at my bank and leave the rest of my money in CDs. Can you point me in the right direction? -- Ruth, Post Mills, Vermont

The answer was straight-forward. Mr. Updegrave tried his best not to bombard the reader with too many links which will lead to further information-overload. Basically he urged the reader to sign up for a retirement savings plan at work, and to invest in target funds or asset-allocation funds.

I think his advice at the beginning of the article is quite useful. It acts as a reminder for me..not to be afraid of making mistakes. And not to put too much pressure on myself. Yeah, I've been kinda overwhelmed lately.. when I shouldn't be. I should be relieved that I've begun to save and at least, I have some sort of a head start (compared to some people who are unaware of their financial situation and don't even have a savings plan). Yup, I should relax... After all, it isn't rocket science.

The article can be found at http://finance.yahoo.com/banking-budgeting/article/102620/The-Get-Started-Savings-Plan