Is now a good time to start saving to retirement? I have about

It's always a good time to start saving for retirement...

>>1806788
>it seems like the economy is at kind of a high water mark right now and I don't want to lose a bunch of money.

I mean, unless you're going to retire in the next 5 years, you have time on your side and worst case is the economy will rebound and you won't lose any money. Just put it in an IRA and forget about it until you retire. And for the love of god, don't pull it out when the economy tanks thinking you're "saving" your money unless you're about to retire.

>>1806796
So I already have about 3k in the IRA for retirement. Would it be a better idea to hold onto the 7k in cash to make a house downpayment in 5-ish years or is 3k in the IRA enough already?

>>1806788
>Is now a good time to start saving to retirement?
No, retard. Wait 20 years from now and then start saving.

>>1806809
Look into the Retirement Saver's Credit and rules for early withdrawal of Roth IRA contributions.

If the $5,500 yearly space is going to waste, you can reserve it with your emergency fund. Money market + investment grade bond funds are basically savings accounts anyway.

>>1806788
>Is now a good time to start saving to retirement? I have about 7k cash I can put into an IRA but it seems like the economy is at kind of a high water mark right now and I don't want to lose a bunch of money.

When you are old as fuck and cashing out on your retirement investments, a crash in 2017 will be fucking tiny compared to the stock market mountain of 2056. But missing out on a tax sheltered 5,500 contribution 39 years earlier will be a big hit. $77,000 fucking dollars at a growth rate of 7%.

The younger you are, the longer money has to grow with compounding interest, the more it matters. Put away as much as possible when you are young. It's up to you to decide how much is possible.