Total Bull

One critically important part of the future is often and foolishly overlooked by the youth of America. While there is no doubt in my mind that the future is important, the severity of the subject has only just begun to settle with my young mind. On the subject the fiscal aspect of the future is insanely important. Being then the financial part of my future is the foolishly important aspect of my critically important future. Herein lies the subject of this essay, the importance of money.

Savings have been revealed to me as the path of enlightenment. As interest is paid, the amount of money in said account increases, transversely increasing the amount of interest paid. Giving me, the saver, further incentive to climb the graduated interest ladder. This fiscal system, in theory works well toward my retirement. A subject many young minds fail to grasp but probably should.

However, this alone is not enough. Savings by its lonesome may not grant financial freedom in the twilight of my life. As I begin to understand this, I further myself as a human being. With what many would say is a doomed Social Security system, it may become more then necessary to have personal preparations in place for the rising generation, myself included, to retire on.

This knowledge revealed to me the importance of investments. In addition to 401K’s, IRAs and bonds, which are all good ideas, when saving over an elongated period of time. Like savings accounts, all of these items help to further my financial stability later on in life. My understanding goes beyond the surface of savings. Considering taxation and bank penalties, it can become a guess and check for the untrained mind. I understand that taxation is graduated, or based on the amount of money. So ROTH IRA’s are more favorable to traditional IRA’s, because taxes paid on the money paid in will seemingly amount to far less then the taxes paid on all the money withdrawn. These are just my thoughts of course.

I, even in my youth, understand the importance of retirement. The need to begin saving for it now and the better future it will bring for my future spouse and myself. I feel myself steps ahead and far better prepared for the future because I understand the necessity of the subject and have already take steps toward it. With rising prescription drug costs, taxes, and general living expenses, couple with what some say is a doomed Social Security system, the next generation may find it important to begin saving now.

I comprehend the problem and have thus already begun, in the teen aged years of my life, to prepare for retirement and my future in general. As understanding is the key to enlightenment, I feel all that much more enlightened about how to be successful in the maturity of my life. Leaving me with only smooth sailing far ahead of the pack, who sadly enough may begin to experience the rough waters ahead.