KiHack

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Part of being an entrepreneur is to take every angle of money and welcome it into your life. It is not always about making money, but about investing it too.

In the course of doing my taxes, I was writing down what TaxAct said was tax deductible, so that I can be sure to do it next year for a greater tax advantage.

This doing of my taxes, in conjunction with realizing how little my parents will get from social security, has scared me into the realization that my efforts in entrepreneurship are not just for the consumption that I do today, but for all the tomorrows.

Since a Roth IRA carries many tax advantages, and grows interest tax-free, it is a highly important thing to look into.

My reason for not doing it before was that I was at the bottom rung of the wage earners, and that the deposit was too high for me to be able to afford to do it. However, I would like the abundance that I am beginning to have to carry into retirement. The money earned online will go to pay for the deposit to start one. I’d like to think I am not alone in that it is hard to start a retirement account, but I also want to encourage whoever is out there reading this, that it is better to start today than never. Make your entrepreneurial efforts now count for something when you are older. It has been said you won’t be able to retire on the money you make, but on the money you make on the money you earn.

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