The First Thing You Should Do in 2009

Now that 2008 is behind us, you should focus on how to improve your investing results for 2009 and beyond. In order to get off on the right foot, you’ve got to make sure you have as much in the game as possible.

One way to jump-start your investing is to avoid the procrastination to which many investors fall victim. Especially with long-term goals like retirement, it’s tempting to let saving slide when times are tough. But if you make an effort to catch up on your retirement saving now, the dividends it’ll pay over time will be enormous.

Don’t wait for deadlines
Waiting until the last possible moment to contribute to a retirement account is obviously better than never contributing at all. So if you haven’t had a chance to make a contribution for 2008 yet, knowing that you have until mid-April to find money that’ll qualify for the previous year and open an IRA or make a deposit to an existing account can make you feel more confident that you’ll get it done.

But ideally, you should think instead about your first opportunity to make a contribution. Today, for instance, is the first day you can make contributions for 2009. By getting your money in quickly, you can enjoy the benefits of tax-deferred growth that much sooner.