Q: I’m single, in my 20s, with a good job but without many financial responsibilities (no mortgage, no kids). If I’ve already managed to max out my Roth IRA, do I need to put more away for retirement or can I prioritize having fun while I’m young?
A: Have fun! That should be a priority at all stages of life. But it needs to be mixed with a healthy dose of responsibility and planning for the future. Thankfully, that is exactly what you’re doing by maxing out your Roth IRA (for 2014, that’s $5,500 for those under age 50).