Looking back into the last five years, there are several things I could have done sooner and been slightly better off financially. The first is buying my house sooner. If I would have bought the house in 2003 instead of 2005, it’s value would have gained 40% in the two years, my mortgage would have been lower and I would be saving more now.
The other simpler thing I could have done is started contributing to my 403 (equivalent of 401) earlier. I started one year after I started working, thanks to procrastination. However being a university employee, I didn’t miss too much because the university still contributed to the state pension plan and their match for the 403 is dismal anyway.
I opened a Roth IRA before I started contributing the 403, however I could have opened it sooner.
If you are reading this blog and haven’t started contributing to your 401, start now. Don’t miss out on free money.