There is something to be said to have nice stuff when you are young and healthy. What good is that car going to do you when you are old and can't see shit and your cock doesn't work. Like everything it is a balance between enjoying where you are at but also saving some for later just in case you love long. [Reply]
Originally Posted by Demonpenz:
There is something to be said to have nice stuff when you are young and healthy. What good is that car going to do you when you are old and can't see shit and your cock doesn't work. Like everything it is a balance between enjoying where you are at but also saving some for later just in case you love long.
Oh absolutely. But the motto to pay yourself first should always ring true. I shouldn't put my retirement savings on hold so I can purchase a new car, like many people do. I should cut expenses somewhere else or find ways to generate extra income to pay for that car. I find my wife and I do a fairly good job balancing investing, saving and being frugal while still doing and having nice things. It took us about 4 years to get to this point, where we both feel we have a good balance of both. [Reply]
Originally Posted by Cornstock:
Unfortunately, far too many in their 20s and 30s don't recognize the need to start saving early. They put themselves in a position that makes it difficult to save by blowing their "disposable" (read "indispensable ") income on going out, tv's, cars they can't afford etc. Even those in their 40s and 50s are saving inadequately. It just seems so far away for them. But at least those who are older will have the luxury of relying on social security to burden the cost of retirement.
News flash for you 20 and 30 somethings. Social security won't be around when you retire. At least not in it's current form.
Millenials are so concerned with the concept of sustainability when it comes to the environment. I wish they would apply the same logic to government spending in the form of entitlement programs. The math just doesn't work. There will be nothing left.
Saving is conscious choice. It is a choice between having toys in the present vs living in poverty in retirement. And in the famous words of Geddy Lee of Rush, "If you choose not to decide, you still have made a choice."
I didn't really have much of a retirement when I was in my 20's, but I was fortunate to start doing it on my early 30's. I am putting in 17% of my pay into my retirement as one way to make up for some of those lost years in my 20's. Plus the company matches up to 5%, and there is also an option when I turn 50, I will be allowed to participate in a "catch-up contribution", which I plan on doing, assuming if everything checks out okay financially-wise.
Also whenever I get raises, I calculate how much more I can put into it, while still staying on the same take-home pay after taxes. At the moment, I am a little aggressive on my retirement stocks than I should be at my age group, but my reasoning is to kind of make up for the years that I didn't have an retirement. Once I am comfortable enough that I am where I should be, then I'll back off to the normal structure of aggressiveness, but I may slightly be aggressive than I should be.
Basically put, I am trying to operate on making sure that me and my wife can live off in a very good shape with no help from Social Security, because I cannot assume that Social Security will be around whenever I retire. [Reply]
I always try and save/invest extra mi they. If I have a good month at the office, I put it in my portfolio. I go back and forth on whether I should try and double my student loan payments each month and get out from under it quicker but it's tough to write that check.
Max the IRas every year for the wife and I and keep some cash in hand etc.
Ultimately I really don't want to or plan to retire at 65, as of right now. My goal by then is to own 4 or 5 dental practices, employ other dentist and work a day or two a week. We'll see how it goes but that's my pie in the sky [Reply]
Originally Posted by O.city:
I always try and save/invest extra mi they. If I have a good month at the office, I put it in my portfolio. I go back and forth on whether I should try and double my student loan payments each month and get out from under it quicker but it's tough to write that check.
Max the IRas every year for the wife and I and keep some cash in hand etc.
Ultimately I really don't want to or plan to retire at 65, as of right now. My goal by then is to own 4 or 5 dental practices, employ other dentist and work a day or two a week. We'll see how it goes but that's my pie in the sky
If your retirement yields more than your interest rate on student loans, minimum payment that bitch. [Reply]
You have 5 funds to choose from. Your investment percentage is 100%. How would you divide it up to?
The 5 funds are below. Your estimated age is 35.
G Fund - Government Securities
F Fund - Fixed Income Index
C Fund - Common Stock Index
S Fund - Small Cap Stock Index
I Fund - International Stock Index [Reply]
Originally Posted by Coach:
Okay, here's a question for the guru's.
You have 5 funds to choose from. Your investment percentage is 100%. How would you divide it up to?
The 5 funds are below. Your estimated age is 35.
G Fund - Government Securities
F Fund - Fixed Income Index
C Fund - Common Stock Index
S Fund - Small Cap Stock Index
I Fund - International Stock Index
0
5 (just so you can put into the market on a downturn)
55
30
10
I'll point out that I'm aggressive on investing, but I think everyone should be. [Reply]
Originally Posted by Rain Man:
0
5 (just so you can put into the market on a downturn)
55
30
10
I'll point out that I'm aggressive on investing, but I think everyone should be.
I was thinking very similar to Rainman here.
0
10
50
20
20
I like going near 20% for foreign stock as that sector has lagged the US market for a better part of a decade. Cheaper buying options with hopefully a higher ceiling for gains. I too am more aggressive and sit 95/5 stocks to bonds in my portfolio. [Reply]