last night i had an adult moment. my friends and i were talking about retirement plans and how to invest in our retirement, and i realized how much i don’t know anything. this is so random and i often feel like a noob for not knowing a lot of this but i know nothing about retirement plans - except for basic words like 401k but i don’t know much about how they function.
when i was working at warner bros, i enrolled in their 401k plan and they had a great matching program and i blindly signed a bunch of documents, pretending i knew what I was doing. they told me if i put in the maximum amount, they’ll match it plus 1%. it was such a strange concept to me that i was going to get a chunk out of my paycheck and putting my money in this invisible “account” and warner bros was going to put more money in it. i didn’t know what/who to trust but i still did it because i knew it was “something adults did”. so i upped my investment to 6% and warner bros will put in 7% to match it. i didn’t even know that was a beautiful matching program until i mentioned it to other people. over the next few months i was flooded with a bunch of mail from fidelity investments and i took multiple attempts to read over everything but i quickly gave up.
yesterday was the first time i heard anything about mutual funds, and i can’t stop researching more about it. i went into my fidelity investments account and saw my overall 401k amount from wb. and boy was i shocked at how well wb has taken care of me. they really did match that and more and now i’m slowly seeing the importance of a retirement funds. before, it was this magical concept, but it’s becoming more real to me. after looking at the trends, i saw that there was a slight decrease after i stopped working there. so it seems like it’s smarter for me to rollover my ira and invest that amount on a mutual fund.
my goal for this june is study more about my options and what is the best mutual fund i should be investing in. let me tell you this - i have no idea what i’m doing, but i hope to learn more. it’s kind of really exciting and fun. maybe because it’s in my blood? my dad was super into this stuff and was a financial-investment-stock-consultant-something and i watched to look at graphs of stock market all day. i don’t want to go too crazy over this but i realized how important this aspect of adulting is as well and hope to be smarter about my decisions.
so today is 6/1/2019 and i’m starting a very blank slate. i pray that i will be wise with what i’m researching for. i’ll check back in with my progress of what i’ve been learning and my options.