Why I Finally Opened a Roth IRA (Even With Student Loans)
By Beelinger Staff
Estimated read time: 5 minutes
For years, I thought investing was something you did after paying off every dollar of debt. So I waited.
But one afternoon, while doom-scrolling finance TikTok, I stumbled on a creator who said: “Future You doesn’t care if your student loans were at 5%. She cares if you let compound interest pass you by.”
That hit me. So I opened a Roth IRA—even with my student loans—and here’s why I haven’t looked back.
Roth IRA 101 (aka Why It’s So Good)
- It’s tax-free growth. You pay taxes now, and never again on the gains.
- You can withdraw contributions any time. No penalties. No stress.
- It grows while you live your life. Even $50/month can turn into thousands over time.
I started with $100. Not $1,000. Not $10,000. Just enough to prove to myself I could start investing while still paying off debt.
Where I Opened Mine
I went with Fidelity because it’s free to open, has no minimums, and the interface doesn’t make me feel like I need a finance degree.
Other great options include:
How I Made It Work With My Loans
I didn’t stop paying my loans. I just added a small investing line to my budget—after covering essentials, but before spending on extras.
It’s not about choosing debt OR investing. It’s about believing you deserve a future where you’re not just surviving.
📈 Quick Math: If you invest $100/month starting at age 25, you could have $197,000 by retirement—even if you stop at 35. (Assuming 8% return)
My Advice? Don’t Wait for Perfect
If you’ve been waiting to “get everything together” before investing, this is your sign: you can start messy. You can start small. You just have to start.
Open the account. Automate the transfer. Then go live your life.
What’s stopping you from opening a Roth IRA? Or if you already did—what finally convinced you? Drop your thoughts in the comments!
Let’s Talk 💬
We’d love to hear your thoughts. Have you tried this? Got tips of your own? Drop a comment below!