2014 Spokester Search: Ashley B

Ashley is a 23-year-old from Rochester Hills

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Ashley's Situation

My name is Ashley Bond, I'm 23 years old and I'm a Oakland University alumni and youtube beauty guru. I was a public relations intern at the Arthritis Foundation of Michigan in charge of social media, event growth and material production. I enjoy spending my time filming and editing videos to share with the world. I truly believe you can be anything you put your mind to. I am extremely creative, fun loving and energetic. I'm looking for a new creative adventure to embark on in the financial industry.

Ashley's Blog Post

We all want to live out the American dream; 2.5 kids, a white picket fence, a two car garage, and a happy golden retriever to greet us when we get home. When we first start looking into college and full time employment it can be hard to see that American dream in the near future. What if I told you that you could make that dream a reality, but sooner than later. Let me tell you about IRA’s. An IRA is an Individual Retirement Account that acquires untaxed interest the longer you let it sit. Think of it as a time capsule you put money in. You can’t touch the money but it grows and grows and you don’t pay taxes on it while it’s growing. Sounds great right? The earlier you start the more money you have down the road to do things like buy your first home, send your kids to college or retire early! It is extremely beneficial to start investing in the future while you are young.

Now if you are skeptical about having your money on lock down for years then don’t worry! A Roth IRA is the way to go. With a Roth IRA you pay taxes on your money before you put it into an IRA, this way if you need to ever withdraw money from your account it will be tax and penalty free as long as you follow certain guidelines. With a regular IRA you would not pay taxes on the money before you put it in an IRA. You would be charged a penalty and taxed on the money if you withdraw before you are 59.5. Either way opening an IRA while you are young is a smart decision, I mean what is better than your money making money?

They say that Warren Buffet bought his first stock at 11 years old, yeah that’s right 11 and now Warren Buffet is worth over 64 BILLION dollars. I think his parents were on to something pushing him to invest young. Now, if you didn't start investing at 11, there is still hope for you. There is no time like the present. With tax season almost over take a chunk of your tax return and stick it in an IRA. It could be anything from $50-$1,000 but start now. If you are thinking, well I don’t have the money right now to put away, well let me put things into perspective. If you drink a Starbucks drink at least 3 times a week every week then you are spending over $500 a year just on caffeine. Cut down on your caffeine and you have $500 to invest in your future. If you put only $250 annually into a Roth IRA you could have around $100,000 to retire on tax free! However you look at it, being smart with your money while you are young is a decision that will benefit your financial future and make your American dream easier to achieve.