Goal: Your Third Number

Alright, I’ve posted about your First Number and your Second Number. These numbers are a path to financial stability and success.

Here’s your Third Number:
You need $6,000 each year for your IRA – traditional or Roth. Be aware that this number may change depending on your circumstances and Acts of our various Congresscritters.

  • That’s enough to put $400 – $500 into your IRA each month.
  • That’s more money than many IRAs will accept before you run into penalties. Know what those limits are, then stick the leftover in a high-interest bearing account and use it for next year. Or use it to buy more stocks. Or use it to replenish your Emergency Fund.
  • That’s a little extra money to outright buy shares of stock from companies you like.
  • What doesn’t go into your IRA can go into one of the other numbers.
  • You can start out doing this with a Traditional IRA, for the tax benefit – and feed those tax benefits back into your numbers. But at some point you will want to roll this over into a Roth IRA for long-term tax advantages.

That’s your GOAL for your Third Number.

Next, I’ll talk about your Fourth Number.

3 Responses to “Goal: Your Third Number”

  1. Stellar work there everyone. I’ll keep on reading.

  2. Isa says:

    Wonderful blog! Do you have got any ideas and hints for aspiring wtirers? I am planning to start out my own site quickly but I’m somewhat misplaced on everything. Would you intend starting with a free platform like WordPress or go for a paid choice? There are such a lot of choices on the market that I am utterly overwhelmed .. Any suggestions? Appreciate it!

  3. PookahBoss says:

    I have updated the Legal Notice page (upper right side of main page). You should go read it. Especially if you are reading this. Because by reading this, you agree to abide by the Legal Notice.

    Pookah commands; I obey.

    — Pookahboss

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