- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: saving at the beginning of your career.
Posted on 11/12/13 at 7:32 pm to dlmast87
Posted on 11/12/13 at 7:32 pm to dlmast87
quote:
That's if you average 12% growth per year......I wouldn't count on it. Plus how far will a million bucks go in 40 yrs?? Not near as far as you think.
Yeah, that is a high target rate of growth year after year. Told ya
But still, a million bucks to have in ones nest egg when they retire is nothing to sneeze at.
1
Posted on 11/12/13 at 8:51 pm to Reubaltaich
Some good stuff so far in this thread. A couple of things I'd add:
-Whoever mentioned about not investing anything you want to use in the next 2-3 years is spot-on. The market is at record highs, and it won't stay that way for long. Even if it continues, like someone mentioned, 2 years even at an incredible 20-30% return isn't going to change your life as far as what you're saving, but if you lose that much it could seriously derail your plans. Whatever you're planning on using to buy/build this house, keep it liquid.
-Having said that, you still want to contribute to a long-term investment/retirement portfolio as soon as you can due to the compound interest benefits mentioned already. This is more important at this age (IMO) than getting a starter home as fast as you can.
-It's smart to start investing young, but you don't need to turn into a 40 year-old overnight with a mortgage and all your money in investments. There's nothing wrong with getting an apartment, meeting people, having some fun, and only putting a little towards your retirement for the first couple of years.
-Whoever mentioned about not investing anything you want to use in the next 2-3 years is spot-on. The market is at record highs, and it won't stay that way for long. Even if it continues, like someone mentioned, 2 years even at an incredible 20-30% return isn't going to change your life as far as what you're saving, but if you lose that much it could seriously derail your plans. Whatever you're planning on using to buy/build this house, keep it liquid.
-Having said that, you still want to contribute to a long-term investment/retirement portfolio as soon as you can due to the compound interest benefits mentioned already. This is more important at this age (IMO) than getting a starter home as fast as you can.
-It's smart to start investing young, but you don't need to turn into a 40 year-old overnight with a mortgage and all your money in investments. There's nothing wrong with getting an apartment, meeting people, having some fun, and only putting a little towards your retirement for the first couple of years.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News