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November 26th, 2001, 12:31 AM
#1
Any investors?
Over the last year I've started investing 10% plus my company match of 5%, out of my salary. 10% into 401(k) and 5% into a savings account.
I was just wonder if anyone out there is getting to the age of retirement or is retired? Did investing at an early age really pay off? The reason for asking is; would I have more fun spending the money now while I'm young or waiting until I retire?
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November 26th, 2001, 05:49 AM
#2
CAD Guru - PC Specialist
Dude, the earlier you start the better!! I don't know how old you are now, but I started my 401K when I was 19, luckily I was employed at this age by someone who offered 401K benefit. Think of it this way, you put $$ in now, it will sit in the fund, and grow, and grow, and grow....for many yrs, 40+ in my case. And also, if we have a span where the economy isn't so hot, I have many years to make that up, as opposed to someone who starts when their 45. Start now, it will be worth it when you retire, cuz you can't count on SS!
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November 26th, 2001, 06:02 AM
#3
Registered User
Tough question.
If anyone knows the answer, please share it with me!
The wandering Odysseus of the web.
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November 26th, 2001, 08:41 AM
#4
Registered User
I would think the 5% matched by your company would make long term investing worth it. Now that a "recession" has been officially declared, take every penny you can get.
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November 26th, 2001, 10:37 AM
#5
Registered User
Well If you invist $2000 into a Roth IRA and if it does around 10% growth each year then you would be a a millionaire in about 30 years just of the IRA. Now that is just a VERY rough figure but it shows what a little time invested in you future could do for you.
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November 26th, 2001, 11:00 AM
#6
I went to a Financial Planner here at my company. He told me that with the percentage that I'm putting in, I should have around 2.2 million in 35 years. But if you figure 10% inflation for 35 years. 2.2 million may not be as much as it seems now. Who knows what the inflation will be. That is my main concern... How much will 2.2 million be in 35 years? No one knows! <img src="confused.gif" border="0">
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November 26th, 2001, 11:00 AM
#7
Registered User
I'm currently investing in a retirement fund at work also through the union. I haven't calculated the returns on it, but it's never enough, is it
Personally, I'd rather invest privately than in a government program any day. The way things are going, it's obvious that governement funds will no longer be available when I retire.
Human beings, who are almost unique in having the ability to learn from the experience of others, are also remarkable for their apparent disinclination to do so. -Douglas Adams
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November 26th, 2001, 11:19 AM
#8
[quote]Originally posted by opiate:
<strong>I went to a Financial Planner here at my company. He told me that with the percentage that I'm putting in, I should have around 2.2 million in 35 years. But if you figure 10% inflation for 35 years. 2.2 million may not be as much as it seems now. Who knows what the inflation will be. That is my main concern... How much will 2.2 million be in 35 years? No one knows! </strong><hr></blockquote>
2.2 Million 35 years ago was a lot of money and it still is today. If the world got so bad that 2.2mil was an irrelevant amount then chances are that global-thermonuclear war we had in 2028 vaporized you anyway.....
"Badges? We don't need no stinking badges."
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November 26th, 2001, 01:17 PM
#9
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November 26th, 2001, 03:11 PM
#10
Adm¡nistrator
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November 26th, 2001, 03:25 PM
#11
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November 26th, 2001, 03:47 PM
#12
Opiate,
I know you are around my age and its very good that you are planning ahead. From what I've seen and heard by the time we retire you will need 2 million just to live comfortably.
I know I don't want to be eating catfood out of the can when I'm 65.
"Beer is proof that God loves us and wants us to be happy" -Benjamin Franklin
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November 26th, 2001, 03:59 PM
#13
[quote]Originally posted by iamtheman:
<strong>Opiate,
I know you are around my age and its very good that you are planning ahead. From what I've seen and heard by the time we retire you will need 2 million just to live comfortably.
I know I don't want to be eating catfood out of the can when I'm 65.</strong><hr></blockquote>
hell no!
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November 26th, 2001, 06:13 PM
#14
I pay $200 a paycheck so thats $400 a month to stocks, I also hve a retirment plan which is $50 a month, I also buy more stocks $100 a month through <a href="http://www.sharebuilder.com" target="_blank">www.sharebuilder.com</a>
I guess im doing ok for only being 20
Im going to invest more by buying a $150,000 house next year
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If you answered yes to any of these then you are not qualified to own a new AMD ATHLON XP.
If someone ask you if you are running the all-new fastest AMD ATHLON XP, just turn around and reply "WHY YES, AND ITS CERTIFIED"
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