I don't know why but one of the things I was thinking about this morning when I woke up (or should that read "arose from my drug-induced state?") was my finances and the very good chance that I am never ever going to be able to retire. I'm pretty sure those thoughts were brought on by the fact that due to my back issues and the flu that I managed to catch at the same time, I just missed three days of unpaid time at work and that's really going to hurt next paycheck.
The thing is, it's not only really going to hurt next paycheck but it's going to hurt overall because the amount of money I'm able to contribute to my retirement plan at work is so very minimal to begin with, that missing time at work makes it even less. Things like this make me start to wonder whether or not I should consider looking at online trading or even stock trading in general.
I was looking at FirstTrade.com, which is an online broker, and they have a section on retirement planning that I was reading over that basically talks about no-fee IRAs and how easy it is to save for retirement. Of course, the example they give is for a 20-year old depositing just $500 a month into an IRA and being able to retire at age 62 with close to $300,000 in the bank and I'm afraid I'm way past age 20 so I'm not really sure what sort of options there are for me out there. They talk about compounding and about how important it is to start early. But what if you're starting late, what then?
Like everyone else, my retirement account has taken quite a hit with the current economic crisis and I doubt that there are any easy answers when it comes to the question of any sort of secure financial future but maybe I should seriously consider looking into some other options at this point or else I'll still be dispatching ambulances when I'm 75 ... provided my back hasn't totally given out by then.