I blogged about this earlier here and had decided that I should get a 403b started even with a small minimum amount.

But now I'm not so sure, after reading this discussion over at NCN. Specifically, should you have a 401k (or in my case, a 403b) if your employer is not matching funds and you need to pay down debt?

Part of me feels like if I can squeeze it out of my budget somewhere, even a small amount in my 403b would be smart to get going while I work my butt off to pay down the rest of my debt.

But then the other part worries that I'll need that money each month.

I left a comment over there looking for NCN's thoughts. I'll wait to see what they say and then make the decision. I'm leaning towards getting it, signing up for the minimum and then just figuring out some more ways to bring more money in to make up that difference. It makes more sense to me to have a nestegg of something, no matter how small, when I get rid of all of my debt, than nothing at all, you know?

403b

On my major to-do list has been figuring out what a 401k is, if I need one and how I can get one.

Everything I read says you need one if you're going to be financially smart and savvy for retirement. And that you need to start one as soon as possible.

I kept reading about them, all the different vocabulary words out there and it was just gobbley-gook to me.

Additionally, the Human Resource ladies at my job often seem more confused by my questions than helpful.

So I decided to ask my boss, as she's been quite knowledgeable about other aspects of my employment, despite our differing career paths and designations within our place of employment (I'm union, she's non-union).

And man, did I stike gold with that decision. Turns out she has a special love for her Tax-Sheltered Annuities and really believes that women need to take care of their money and educate themselves in these areas as much as possible.

So I learned that I actually want a 403b, not a 401k, because I work at a public institution. And she showed me how I could start one, where she would start out investing her money in what funds and how to start learning more. This rookie is very thankful for this conversation today.

I also learned a bit about what a Roth IRA is, how over time I can better "diversify" where my investments are and helpful websites where I can keep learning. I'll post those in my resource area on the sidebar.

So there is my new goal. To start my 403b, no matter how small I have to start it, as I pay off my debt.

I just wish I would've asked these questions years ago. However, it's never too late. Right? Right!