19 October 2007

IRAs and mutual funds

according to my insurance company, i'm going to be living in a box on the street corner when i turn sixty-two if i don't start investing in something immediately.

problem: thinking about iras and mutual funds gives me a headache.

especially since i already have one account, a 457(k), which is a lot like a 401(k) except it's for teachers, which means that i can't actually add any more money to the account, but i don't want to get rid of it in case i ever go back into teaching (not that what i want to do with it is of any consequence, because i can't get in touch with the company or my broker about changing it to an ira - or about changing my address, for that matter) so i've got this mysterious $800 floating around somewhere and i have no idea when, or if, i'll ever see it again. i'm hoping that it will have magically turned into about $500,000 by the time i'm ready to retire and i'll get this wonderful letter in the mail when i'm sixty-five telling me about all this money that i have. but probably not.


gaahh. i don't want to deal with this.

No comments: