I think I have confidence in leaving my money in my investments and just letting it grow and not touching it until you’re ready—I think that’s taught me a lot.
“My name is Mitch. I’ve worked remotely since 2014 and in a corporate office since 2017... I’ve had 4 different 401(k)s that I have rolled into Roth 401(k)s as I’ve gone through different positions.
“What makes me concerned about my current 401(k) is I’m not able to control it. Individuals that are with Vanguard and other 401(k) plans have full control over where that money lies and I don’t have that control over it. With my knowledge of stock portfolios, it makes me a little concerned about what is happening with not only growth and dividends, but where [my money] is going.
“[The hardest thing about saving for retirement is] not knowing what retirement really entails, like the dollar amount. Nobody has an idea. People will tell you that if you have 1 to 2 million dollars you’re straight but in reality, no one really has a clue. You need to have an overall idea of how much you will be paying in property taxes, rent—you know, what can you live off of.
“I think I have confidence in leaving my money in my investments and just letting it grow and not touching it until you’re ready—I think that’s taught me a lot... It’s not so much about where you are going to be now in your 20’s and 30’s, but in your 60’s, when you actually start needing to take that money out.”
Photograph & interview by Carolyn Buoso
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Mitch
