I realized that all of my major financial triumphs in 2010 were made in the last three months. Admittedly, Quarter 4 had a lot of foundational planning behind it -- but that only points out that I can do much more in 2011 if I start early!
To that end, I opened a Roth IRA this morning at Charles Schwab.
I got an email nudge from Mint.com with a list of potential investment companies, including Schwab. I was attracted to it because of the zero-minimum starting balance (as long as you set up a recurring deposit, which I'd intended to do anyway) and that I could apply online! I don't want to go into a bank and talk to a human about my inexperience in financial matters. So I filled out a form online and elected to transfer funds in later (after my paycheck tomorrow is the plan). Easy!
I still don't know how much I'll be socking away each month. I think my educational fund will be taking the focus in 2011 and 2012. Although I know the sooner I get started with the IRA, the more I'll end up with, I think adding small amounts for the first couple of years is okay. Assuming the advanced degree gives me more earning power, I can maximize my contributions when I'm employed at a higher salary.
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