Any investors?

[opiate]

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?

[Fierce]

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!

[AlienDyne]

Tough question.

If anyone knows the answer, please share it with me!

[MacGyver]

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.

[ßracius]

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.

[opiate]

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">

[Stalemate]

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.

[Sowulo]

[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.....

[opiate]

[quote]Originally posted by Sowulo:
<strong>

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..... </strong><hr></blockquote>

Cool...global-thermonuclear war

It would really suck to have invested for 34 years and then die on the 35th year. Which will hopfully not happen to me!

[JungleMan1]

Just started 2 years ago. Lotta tech stocks so needless to say...

[opiate]

[quote]Originally posted by JungleMan:
<strong>Just started 2 years ago. Lotta tech stocks so needless to say... </strong><hr></blockquote>

I feel sorry for you! Allot of money was lost in tech stocks.

[iamtheman]

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.

[opiate]

[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!

[Daemon]

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