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Started By
Message
re: Beginner's Tactics for Investing - Young and Self-Employed
Posted on 6/24/14 at 1:59 pm to kennypowers816
Posted on 6/24/14 at 1:59 pm to kennypowers816
quote:
What does this have to do with your expectation of what you will need to retire?
I suppose it has nothing to do with the expectation of my retirement? As for the OP with his ambition to invest for retirement, I believe he will be much better suited by setting a target age to retire at, and a dollar amount needed for retirement to determine his best investing options. Seeing polls for average amount of retirement saved up by Americans, might give the OP a good basis to pick a target retirement amount out of the air. Determining his current expenses could also play a role in him determining how much he costs a year, and how many years of retirement he plans to live out.
For all I know, OP might be considering retirement at the age of 45, and an IRA/401(k) would then end up penalizing him if all of his money was locked away in either of the two.
quote:
Are you expecting the government to bail everyone out and give them free money to retire? Or are you expecting all of those people to have to work until they are 80 to retire?
I honestly do not have an answer, nor do I wish to sidebar this thread any further than I have.
2
Posted on 6/24/14 at 2:38 pm to RickAstley
quote:
I honestly do not have an answer, nor do I wish to sidebar this thread any further than I have.
fair enough. 
Posted on 6/25/14 at 9:49 am to GaryMyMan
Make enough money to pay someone to invest for you Mr. Big Shot
Posted on 6/25/14 at 9:56 am to RickAstley
quote:
I have a hard time believing that the majority of Americans will have $500k or more saved up at the age of 60
I'd be terrified if I didn't have twice that when I turned 60.
I may make some stupid decisions regarding money every now and then and I may not always max out my Roth contributions, but I never miss contributing at least 16% every month to my retirement savings one way or another.
Posted on 6/25/14 at 11:16 am to NOLAbaby
quote:
Make enough money to pay someone to invest for you Mr. Big Shot
I feel like an idiot for not thinking of that first. Thank you.
Posted on 6/25/14 at 1:40 pm to GaryMyMan
Where do I go to setup a Roth IRA?
Please give me a link and explicit directions. TIA!
Please give me a link and explicit directions. TIA!
Posted on 6/25/14 at 1:45 pm to TheCaterpillar
Go to vanguard under the personal investments
Read the guides concerning IRAs. That is a good source of info
Read the guides concerning IRAs. That is a good source of info
Posted on 6/25/14 at 2:22 pm to TheCaterpillar
quote:I provided a link on page one.
Please give me a link and explicit directions. TIA!
Its the third post in this thread.
Posted on 6/25/14 at 2:35 pm to RickAstley
The majority of Americans don't retire with 100K in savings much less 500K.
Posted on 6/25/14 at 11:52 pm to iknowmorethanyou
quote:
Make enough money to pay someone to invest for you Mr. Big Shot
While I get the point/joke, try taking the sentence "well you know what you are doing" out of your vocabulary. Just because someone has a job or title at a company there is no guarantee they know what they are doing. Try to learn all you can, especially about what someone is doing with your money.
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