How do you plan for retirement?? mine is investing in stocks and internet marketing witch i am in love with
Hmm well when i will be 50 years old probably i will own my own company so no need for retirement ...
403(b), as well as a Roth IRA and saving for it...I unlike the majority of americans my age do not expect to win the lottery to pay for my retirement, even thought that would really be nice...
At the moment my (admitedly simple) plan is to save what money I can in my bank. Since I may need access to most of it, it would be unwise to invest it in stocks since I might have to sell some stock to pay the bills when the stock is in the middle of a down cycle. I'd also rather avoid other accounts with withdrawl penalties for the moment. My company doesn't provide a 401K, but if it did I would pay the maximum for matching into it each pay check.
At age 63 I am comfortably retired. My wife and I did this via: • 403(b)(7) — similar to a 401(k) • IRAs (Roth and Traditional) • Aggressive savings when we could • Most importantly, good real estate investments over the long haul. That's what put us into the "comfortable" retirement category. • We kept our spending at a modest level. We still do.
Planning for retirement is a serious business. In the UK a lot of good people paid into schemes all their working lives, only to find the schemes had been mis-managed. A lot ended up with nothing. How can you plan for something like that? It's criminal and the government doesn't seem inclined to help. http://news.bbc.co.uk/1/hi/business/6334585.stm
I plan for retirement by saving between 30 to 50% of my annual income and putting it in nest eggs. The governments of both the U.K and U.S are corrupt, and the sooner people figure that out, the better off they'll be. Anyone relying on the government, or a corporation for their retirement might just find themselves retiring in a card board box.
Yeah, saving is most important. You can't invest until you save. And when I say "save" I'm not talking about 100 bucks a month. No, you have to save at least $800 to $1000 per month. Once you start saving, put your money in long term investments that earn compound interest. Screw 401Ks and mutual funds. They suck, and you will end up with nothing. Get something that earns you 10% to 20% interest. Me, I save $1000 per month, so that is $12,000 per year. I will be 25 years old in April so hypothetically, if I can save $1,000 per month for 20 years, that would be $240,000 by the time I'm 45 years old, not including interest I will earn. Also, as my online business earns more, I save more. If I make $10,000 a month, I save $4,000. You are guaranteed to become a millionaire by retirement if you save a lot. A lot of you here in DP will never become wealthy because you spend too much, and you waste too much money on short term, get rich quick online investments that will fail. Saving 30 to 50% of your income is tough, but here is the sacrifices you will have to make: 1. Don't Get Married Supporting a family is hard, and once you're married, you will find it hard to save, especially if your spouse doesn't do it. I know first hand, since I talked to many married people who can't even save $1,000 per month. 2. Don't Have Kids Sorry guys. Statistics show that raising a child from birth to 18 years of age will cost an average of $300,000. Would you rather spend that raising a child, or would you rather have it in the bank for yourself? Someone of you here at DP want kids, so you will have to think about it. 3. Avoid all debt. period. This means no car payments, student loans, or any of that BS. You won't have any money for retirement if you're having to pay off loans. 4. Get rid of all your unnecessary billls. You can't have your cake and eat it to. Saving for retirement may mean living in a cheap apartment, not having a car, or buying cheap clothes/food. Make your choice. Those who try to have the best of all often end up bankrupt. 5. Become Self Employed Many of you here at DP have already done this, in part or in full. When you work for yourself, there is not limit to how much you can make, and you can't be "fired." working for yourself is much more secure than working for someone else, and you will be able to save a lot. 6. Take Care of Your Health It is no secret that the United States has the highest healthcare costs in the world. This means getting sick or injured can lead to bankruptcy. This means avoid doing stupid things to risk your health, and take vitamins and exercise regularly. Try to find low cost health insurance if you can. 7. Live in Places With a Low Cost of Living It is kinda hard to save for retirement if you're living in New York City, San Francisco, or any or major city. Do your homework and look for places that have low costs of living. If the cost of living is low, more money can be put towards retirement. These are the basics on how to save. One more thing. Because of inflation, saving money is not enough. You have to put your money in long term safe investments that earn compound interest. This can help you beat inflation. Also, there is nothing wrong with investing in online business venture, but only reserve 5% of your savings, so you don't lose your shirt if it doesn't fall through. All ways protect your core savings. A lot of you here at DP may make more money than me per year, but because I'am a master a saving money, I will beat many of your over the long term. Remember the story of the tortoise and the hare. Be the tortoise, forget about the hare
I like internet..my planning for retirement is..internet base home business..i like it a lot..for more info please read the book from Robert Kiyosaki (rich dad poor dad)
Well that might work out well for those who actually MAKE that much per month. I'm not even making a subsistence wage at this point.
good night!!! sounds like some kind of loving fulfilling life (1 & 2 @ least, though there is some truth to it)!!! Here's my strategy: Marry A Chemical Engineer who is hell bent on retiring early; save, invest, repeat.