Thoughts for the younger investors

[72Zorad]

Getting to that all important 15% contribution amount;
I've been reading around the posts and haven't seen anything outlining a strategy for younger investors to get to that 15% contribution amount we all know is so important. I think some of us, who are older, might forget how strapped we were when we are younger so here's what I tell all my new employees.
First, you absolutely MUST invest 5%. Consider this a pay raise of several thousand a year. This is where you just have to suck it up and cut back on those Monster energy drinks if necessary.
The second part, getting from 5% to 15% is a little easier if you have a plan. Every time you get a pay raise (cost of living, step, promotion....) figure out what 3/4's of it is. If you invest a dollar amount just add that amount to your contributions. If you invest a percentage you can multiply the dollar amount by 26 (pay periods a year) then divide that by you salary. Add that percentage to your current percentage and you now have the new percentage you can contribute. This makes it so you get part of your raise and also increase your contributions without 'feeling it' in your pocket book. Pretty soon you'll be at 15% and you didn't feel a thing. Obviously, if you really want to be aggressive do 100% of your raises to get there quicker.

 

[peterson82]

I am 30+ years from retirement, but I know how important early investment is for the end result of you TSP amount. Compounding uses rate and time in the exponent. The rate I can improve on as I get better at managing my funds, but it also has a luck/timing factor. Time is similar to height in basketball, you cannot teach it, you just have it. With that said, I started out with 5% contributions, and moved it up a year later to 7%. In July I will be moving it up to 10% with the raise I will (hopefully!) get. Depending on how my debt is, I will try and move it up 1% point every year after that until I reach 15%. This will give me 25 years at 15%, and hopefully a nice rate to go along with that.

Bottom line is, these early contributions will be compounded the most, and hence, are the most important for a solid TSP at the end of your working career.

 

[Show-me]

Well said and thank you for emphasizing it. I gave a similar speech to a newer employee a week ago. Make sure you talk to your newbies as they probably have not gotten any info. from their agency about investing in TSP.

 

[brooksmd]

Working with USPS the last 22 years I have always been amazed at the number of young employees who aren't getting all the matching. Stock answer "I will later but now I need all the money." Granted I was 40 when I started with USPS, but I was a newly wed again, with 3 kids, my wife was in school, but I still put in as much as I could and increased it every chance I had. Dec 31st, after 22 years, I will retire with almost $350K. If I did that in only 22 years, just imagine another 20 years. But the me, me, now, now, generation doesn't see that. I'm trying to get my 21 yr old to start putting at least $50/mo in a Roth, but he says he can't afford it. My answer, you can't afford not to. Just quit smoking. Oh well.

 

[Steadygain]

Working with USPS the last 22 years I have always been amazed at the number of young employees who aren't getting all the matching. Stock answer "I will later but now I need all the money." Granted I was 40 when I started with USPS, but I was a newly wed again, with 3 kids, my wife was in school, but I still put in as much as I could and increased it every chance I had. Dec 31st, after 22 years, I will retire with almost $350K. If I did that in only 22 years, just imagine another 20 years. But the me, me, now, now, generation doesn't see that. I'm trying to get my 21 yr old to start putting at least $50/mo in a Roth, but he says he can't afford it. My answer, you can't afford not to. Just quit smoking. Oh well.

The difference between you and the overwhelming majority is that you were honestly able to project years into the future.

The typical 'American Lifestyle' is totally the opposite. Most commercials address 'The Majority'; 7 out of 10 have over $10,000 in 'credit card debt' - almost everything is geared towards 'how to avoid the hassels of others demanding Your Money'. In truth it's NOT their money and that's the worst part - these people have every right to demand it and expect it.

Most 'Live for the Day' - buying what they can't afford and as long as they are 'Living Great' they are all the more totally 'confident' the future will take care of itself. This 'Belief' all the more forces them to spend what they have and prevents them from saving what they need.

Your 21 year old is at the hardest place... at least it was for me and almost everyone else I've known. You start out with NOTHING and there were times I barely had $5 dollars before my next check. This forced me to live for only the neccessities and SAVE all I could. Became the pattern that largely dominated my existence.

Now I've got more than enough -- but it took many years and there were a lot of hard bumps along the way.

21% (with matching) goes to TSP

 

[brooksmd]

Your 21 year old is at the hardest place... at least it was for me and almost everyone else I've known. You start out with NOTHING and there were times I barely had $5 dollars before my next check. This forced me to live for only the neccessities and SAVE all I could. Became the pattern that largely dominated my existence.

You're right. When I went into the AF at 18, after being a Navy brat all my life, I fully intended to make it a career being aware of the benefits. In 1967 E-1 pay wasn't much. I worked part-time jobs until Reagan became President and helped out the military. But after I retired I realized that SS and my AF retirement check were not going to be enough when I retired a second time. Fortunately I tested well enough to be hired off the street to fill an electronic tech job with USPS, which is the highest paid craft position, that allowed me to build a nice nest egg to supplement SS and my retirement checks. Like you, having been in that position, I want my youngest son to realize the sooner he starts the easier it is and the better off he'll be.

 

[Steadygain]

Like you, having been in that position, I want my youngest son to realize the sooner he starts the easier it is and the better off he'll be.

Well, I'm enjoying this. I'm not sure if you're familar with 'Birth Order' but there is a huge amount of 'undiniable data' supporting it. The youngest (the last) has a harder time seeing beyond the present. It's not really in his nature to be 'as disciplined' as say the 'First'.

Since we're spilling our guts - however - I'll tell ya about my kids.

First - Valvictorian in High School and I'm pretty sure straight A's through college.

Worked summer jobs making little to nothing - but wanted to help with groups that came on a weekly basis to help restore and build on many of the homes in a 'desperately run down area'. So - MONEY - and all the more building for 'retirement' is the last thing she thinks about.

She gives what she has - and gives generously - to others who she feels needs it more. So her life it totally grounded in Serving the Lord and trusting Him in everything. But she has ZERO bad habits and lives the best life that can probably be demonstated. She has worked in S. Korea for the past few years - (maybe a dollar or two a day) - and is on her way back today.

SECOND girl - Graduated from HS with tons of ribbons around her neck for outstanding achievement. Has been working for the same Mission Camp in Harlan, KY the first one did. Was hoping to get a job as a teacher in that area for about $10,000 a year (no benefits).

Third girl - Money is not her thing.

All my kids are bound and determined to NEVER let the quest for money and 'the traps of possessions' interfere with how they live.

So I've got these 'Mother Terresas' showing me how their lives can be full and overflowing without 'extavigance'.

So now when I see the house we have and all we have accumulated ~ it's weird man. In all honestly I am NOW wanting to live far more 'humbly' and be more like them.

Well, I enjoyed the vist. Have a great night and hope all goes well.

Steady

 

[brooksmd]

Steady you should be very proud of your girls. Sounds like you and your wife did an excellent job raising them.

 

[Steadygain]

Steady you should be very proud of your girls. Sounds like you and your wife did an excellent job raising them.

More 'proud' than I could ever express. I can seriously only give the overwhelming credit to God. In all things, and in everything, He alone provided the opportunities we'd had; allowed us to use the abilities we were blessed with; and somehow instilled in their hearts and lives all they became. I can say this and that about my wife (who undoubtedly deserves 99% of the credit) - but deep down all things point to Him.

Thank you though my friend.

I've got a lot of stuff to do ~ so will be gone the rest of the week.

It's been nice !! -- real nice

 

[Afishegg]

I work for DHS and I see alot of young guys ( in their 20's , I'm 32) shrug their shoulders when we pull up our tsp accounts. They actually laugh, and just look back down at their ipads/ipods/iphones etc etc. I just think "Sheesh, these guys are SO stupid, how did they even get in here in the 1st place?" One kid about a week ago, after 3 of us tried to talk him to just start (after7 years) to invest at LEAST %5 of his check and enroll in the SAMBA fund, he said "WHY? what will it matter at that point, I'll just be dead anyway!?!?!!?" We all just about rolled outta our chairs laughing. But I sat there and though about it all day and here is what I concluded. The younger ones today don't care anymore (Their ipads/ipods/iphones shield them from having to think about the future and the bad SH*T thats coming their way soon), They have given up all hope, and to be honest I don't blame them. Our leaders in washington have squandered these young folks futures! All they hear all the time is, "Social security won't be there, The stock market is about to crash again, the housing market will eventually burst again, the dollar will be worthless one day, etc etc etc" And then add on top of that the extremely corrupt leaders in wa, who not only flaunt their corruption openly but then dare the american people to "DO SOMETHING about it" Did you guys see the video of Charles rangel, in the senate daring the ethics commitee to "kick him out, IF they can?" Bottom line is this, the future of this country, the youths, are fed up and simply don't care anymore, they are just jaded to socioeconomical problems by the time they are like 10 yrs old. Our corrupt government has abandoned them and us and how this will play out in the future, I don't know, but it cannot be good. I know it probably will not take long (maybe 2 or 3 more generations) before we start seeing severe hardships in this country, I mean third world conditions, we'll be like guatemala in 20 or 30 more years from now I believe, and it all starts at the top. I also came to another conclusion, Most americans don't vote anymore and I also understand why, but to those who still do, you deserve alot of blame also, because you continue voting for the SAME incumbents, how irresponsible. Alas I throw my hands up in the air. God help us all, were gonna need it!

 

[Steadygain]

The younger ones today don't care anymore (Their ipads/ipods/iphones shield them from having to think about the future and the bad SH*T thats coming their way

:laugh: Thanks man, I very much enjoyed this part :embarrest: you sound like me.


Well good night all -- coming in for one last view.

 

[Buster]

I work for DHS and I see alot of young guys ( in their 20's , I'm 32) shrug their shoulders when we pull up our tsp accounts. They actually laugh, and just look back down at their ipads/ipods/iphones etc etc. I just think "Sheesh, these guys are SO stupid, how did they even get in here in the 1st place?" One kid about a week ago, after 3 of us tried to talk him to just start (after7 years) to invest at LEAST %5 of his check and enroll in the SAMBA fund, he said "WHY? what will it matter at that point, I'll just be dead anyway!?!?!!?" We all just about rolled outta our chairs laughing. But I sat there and though about it all day and here is what I concluded. The younger ones today don't care anymore (Their ipads/ipods/iphones shield them from having to think about the future and the bad SH*T thats coming their way soon), They have given up all hope, and to be honest I don't blame them. Our leaders in washington have squandered these young folks futures! All they hear all the time is, "Social security won't be there, The stock market is about to crash again, the housing market will eventually burst again, the dollar will be worthless one day, etc etc etc" And then add on top of that the extremely corrupt leaders in wa, who not only flaunt their corruption openly but then dare the american people to "DO SOMETHING about it" Did you guys see the video of Charles rangel, in the senate daring the ethics commitee to "kick him out, IF they can?" Bottom line is this, the future of this country, the youths, are fed up and simply don't care anymore, they are just jaded to socioeconomical problems by the time they are like 10 yrs old. Our corrupt government has abandoned them and us and how this will play out in the future, I don't know, but it cannot be good. I know it probably will not take long (maybe 2 or 3 more generations) before we start seeing severe hardships in this country, I mean third world conditions, we'll be like guatemala in 20 or 30 more years from now I believe, and it all starts at the top. I also came to another conclusion, Most americans don't vote anymore and I also understand why, but to those who still do, you deserve alot of blame also, because you continue voting for the SAME incumbents, how irresponsible. Alas I throw my hands up in the air. God help us all, were gonna need it!

Very well put..I thank you for seeing the realness of our society..Maybe before it's too late, people like you can still make a difference and turn things around..hang in there, remember, it ain't over till the fat lady sings.

 

[Birchtree]

brooksmd,

Congratulations - you have achieved the first golden rule of finance - it takes money to make money. Now I would devine that if you play your cards right and seek capital appreciation by tackling risk you may actually double your $350K over the next several years. The time to be invested is now when you think you are alone because that's what the bull demands - let'em eat bonds until they puke. This bull market will follow a wall of worry all the way back tio Dow 14,154 this year and who knows how high next year. Have courage and remain true and you will double your money. Snort. Don't worry about the young folks they'll wake up sooner than later when the Dow approaches 20,000.

Dennis - permabull #1

 

[Afishegg]

brooksmd,

Congratulations - you have achieved the first golden rule of finance - it takes money to make money. Now I would devine that if you play your cards right and seek capital appreciation by tackling risk you may actually double your $350K over the next several years. The time to be invested is now when you think you are alone because that's what the bull demands - let'em eat bonds until they puke. This bull market will follow a wall of worry all the way back tio Dow 14,154 this year and who knows how high next year. Have courage and remain true and you will double your money. Snort. Don't worry about the young folks they'll wake up sooner than later when the Dow approaches 20,000.

Dennis - permabull #1

[Shaking my head in complete disbelief] Man......I sure hope your getting your info from a real life crystal ball cuz from where I'm standing, the cliff has a sharp edge and it's a long way down. Don't get me wrong, I think you are right about the investing part, thats just common sense, figure the least amount you need to live off of invest the rest over a long long time, start young blah blah blah = get rich, but what in the WORLD makes you think were gonna see 14k stock market this year?! Hell goldman sacks downgraded their estimates for the end of year s&p score yesterday, our own government says the economy is slowing down (these, the ones who where jumping up and down with pom poms made of hundred dollar bills in their hands yesterday and the day before, hoorah'in the "economic "stimulus") and we are STILL "losing" jobs!? It aint gettin any better man, not now nor in the near future I'm afraid. Oh yes, one more thing, this all assumes we don't have another war break out or a major terrorist attack some time soon and if brooksmd IS silly enough to "Seek capital appreciation by "tackling risk" ( just go for broke brooks) He more than likely will not double his money but will instead halve it or de-triple it, I saw that 2nd hand (my money was in G fund) in 2007, so many older guys at work just sat in their chairs all day with this deep grim look on their faces, cuz ...well....the Risk Tackled them, er their portfolios I should say...hehe

 

[Steadygain]

shrug their shoulders when
They actually laugh,
I just think "Sheesh, these guys are SO stupid,
how did they even get in here in the 1st place?"
younger ones today don't care anymore

My friend, I want you to know that I love you - I really do - and I appreciate you being so 'open' and 'honest'.

I respect that - but I would have to think your view of these younger individuals is perhaps a bit too Negative.

It would be impossible to NOT project Negative feelings about them if they are rubbing you the wrong way.

NONE of US can HELP IT. Our views of others will always be hugely dominated by 'our subjective feelings and attitudes' and the beliefs we have.

(Their ipads/ipods/iphones shield them from having to think about the future and the bad SH*T thats coming their way soon), They have given up all hope, and to be honest I don't blame them. Our leaders in washington have squandered these young folks futures!

Perhaps the expressions here are more 'Reflective' of your fear of a hard and uncertain future.

Again if a 'NEGATIVE VIEW' dominates your existence then you can't help but reflect this when sharing your heartfelt 'convictions'.

'Our leaders' dear friend are 'Politicians' - they live for Politics and that is how it has been over and over. The 'players' may change but the 'sqandering' has been ongoing throughout our lives.

All they hear all the time is, "Social security won't be there, The stock market is about to crash again, the housing market will eventually burst again, the dollar will be worthless one day, etc etc etc"

I will tell you something. I feel for you and I would so much want that ONE you spoke of to fill you with a Peace that transcends all understanding. If you look over the centuries - at every civilization ever known - you'll find these 'hardships' and 'corruption' are inevitable.

We can either let them 'sink us in the pits' - or rise above them; but that is totally up to us and how we decide to live.

And then add on top of that the extremely corrupt leaders in wa, who not only flaunt their corruption openly but then dare the american people to "DO SOMETHING about it"

'Our leaders' dear friend are 'Politicians' - they live for Politics and that is how it has been over and over. It's like the movie Ground Hog Day - the same scene plays over and over - but the actors may change.

Did you guys see the video of Charles rangel, in the senate daring the ethics commitee to "kick him out, IF they can?"

I honestly don't know any of the details -- seriously don't. I do know that he is a human being with an extensively 'flawed nature' and 'Power and Wealth' make corruption almost impossible to avoid.

The 'kick him out if you can' reminds me of our 'First Black President' when he essentially made the same challenge.

Bottom line is this...

The 'Bottom Line is this' - we make out of LIFE the LIFE we choose to live. We can choose to get lost in the endless garbage that always exists in thousands of ways and lose sight of all HOPE and fail to know the ONE that is above everything that could ever be known.

Or we can choose to LIVE in HOPE and be the HOPE for others - by allowing them to see that FAITH and LOVE and the Spirit of Power and Purity most certainly overcomes everything else.

[Shaking my head in complete disbelief]

Again my friend, in the Spirt of LOVE - I come to you.

My big brother has done better than most because he does Stand Strong and he is unwavering in his decisions - to invest with 'Soundness' and not be distracted by 'The Waves of Pessimissim' that often make others FLEE when they should have stayed.

Man......I sure hope your getting your info from a real life crystal ball cuz from where I'm standing, the cliff has a sharp edge and it's a long way down.

Perhaps his view is 'too positive' - and yours 'too negative'

Maybe we can learn from each other to find the right balance.

Don't get me wrong, I think you are right about the investing part, thats just common sense, figure the least amount you need to live off of invest the rest over a long long time,

To me the 'Common Sense' is recognizing GOD First. So surely at a bare minimum the 'First 10%' should go to Him before anything else.

start young blah blah blah = get rich, but what in the WORLD makes you think were gonna see 14k stock market this year?! Hell goldman sacks downgraded their estimates for the end of year s&p score yesterday, our own government says the economy is slowing down (these, the ones who where jumping up and down with pom poms made of hundred dollar bills in their hands yesterday and the day before, hoorah'in the "economic "stimulus") and we are STILL "losing" jobs!?

Maybe your 'view' of the world is much more accurate because you do recognize so many aspects that have largely been hidden from the US population over the years. Maybe you are just now honestly beginning to realize how much the 'Companies' control everything.

Yet still GOD is over them and for the 'External Garbage' - Internal Strength and Power can be found in 'Perfect Love' - a Love that allows us to 'forgive' - that FREES us in every imaginable way to live life fully.

It aint gettin any better man, not now nor in the near future I'm afraid.

It has gotten better for me. I had NO annimosity with my brother; nothing but deeply genuine 'Positive Feelings' - was unbelievable.

Oh yes, one more thing, this all assumes we don't have another war break out or a major terrorist attack some time soon and if brooksmd IS silly enough to "Seek capital appreciation by "tackling risk" ( just go for broke brooks) He more than likely will not double his money but will instead halve it or de-triple it, I saw that 2nd hand (my money was in G fund) in 2007, so many older guys at work just sat in their chairs all day with this deep grim look on their faces, cuz ...well....the Risk Tackled them, er their portfolios I should say...hehe

The 'World' will continue to go through changes today and in the years to come. No one is capable to preventing that from happening and a look over the past shows many very huge changes.

Yet the people live on and we simply have to adjust and do the best we can.

Look beyond the 'static' on the TV and everything around you and find something BETTER - Hold to that and let that deliver you and take you where 'Deeply Wonderful Aspects' drown out everything else.

 

[Birchtree]

Afishegg reminds me of a drive by shooter that was around when the market was bottoming in March 2009 but I don't remember the name. I took criticism because I had loaded up the truck realizing we were not headed into depression. This time period is no different - you have to be a contrarian to make serious money. We recently had a 16% correction because that is what the market demanded to erase bullish sentiment - there was nothing on the fundamental basis to indicate global weakness. Europe seems to be doing just fine. The Fed will continue to encourage the markets and bonds will not make you money in the long term - they are just too negatively oriented. I'll stand firm with equities and take my lumps.

 

[Afishegg]

Thanx guys I stand corrected, I just have to spew once in awhile (Can't keep it pent up ) Not directing it at anyone, just sayin.. ya know? As far as the "bigger" picture goes your right steady and I do believe god is "ultimately" in charge and will act in due time, "Then there will be a great tribulation the likes has never occured until our time, no nor will occure again" Matt 24:21 and eventually will reign true peace on earth "And with that I heard a loud voice from the throne say, Look! The tent of god is with mankind, and he will reside with them and they will be his peoples and god will be with them, and he will wipe away every tear from their eyes and death will be no more neither will mourning nor outcry nor pain be anymore for the former things have passed away" Rev 21:3,4. Just sometimes in this current "system of things" you have to look and criticize out of a true sense of justice, ultimately I believe this is what we all long for, to live as brothers in a world where true justice and true love prevails. I believe alot of us men know what the "right" thing to do is in most situations, and when we look around this world and see our fellow man being bogged down by corruption and injustice and misery, our sense of humanity kicks in and makes us mad as H*LL we can't really do anything about it. Soon though as you mention steady we WILL see "Change" we can all believe in.....

 

[Steadygain]

Thanx guys I stand corrected, I just have to spew once in awhile (Can't keep it pent up )

You're cool man - seriously and I'm glad you're real.

That's how we should all be and that's what I love about this site so much.

As far as the "bigger" picture goes your right steady and I do believe god is "ultimately" in charge and will act in due time,

There is no doubt about that - and if anyone remotely bothered 'looking' and checking the FACTS - it's impossible to miss.

"Then there will be a great tribulation the likes has never occured until our time, no nor will occure again" Matt 24:21

Well now I feel a little BAD about making this known --- but I absolutely swear from the depths of my being that 'I voted for the Snake' because I'd never seen anyone that more 'fit the picture'.

I'm like 'Wow - look at this guy' - comes out of nowhere and woos everyone and I had never seen anything 'smoother' - I mean NOTHING like him.

So - in the deepest sincereity --- I'm anxious to bring it on -- cause I'm totally fed up with how everyone lives and regards one another. And I know where I stand -- kill me or do whatever you want cause it's just a body and nothing more.

and eventually will reign true peace on earth "And with that I heard a loud voice from the throne say, Look! The tent of god is with mankind, and he will reside with them and they will be his peoples and god will be with them, and he will wipe away every tear from their eyes and death will be no more neither will mourning nor outcry nor pain be anymore for the former things have passed away" Rev 21:3,4.

That's pretty much ALL - I live for - and if 'we' need to bring the massive and endless PAIN first -- then bring it on -- long as I know 'This is IT'.

Just sometimes in this current "system of things" you have to look and criticize out of a true sense of justice,

The 'system of things' in most other places is even worse - but still the system is grossly flawed everywhere.

I see what you're saying -- and I guess I said the same thing in this message so far.

But I'd have to 'respectfully disagree' and I seriously mean 'respectfully'. I believe to the 'largest degree' the criticizims displayed by essentially every person far more reflects their 'biased subjective view' and reveals a distortion that far more conveys their 'ignorance' 'prejudisms' and the such.

If I would openly attack all Dems; all Reps; all Yankees; all Japs or whatever... I'm really saying 'I'm so narrow minded in my belief that if anyone says anything different then screw them'.

In the end, I've found it better not to 'critize' and accept the way things truly are. Here all the more may I live my life in such a manner that I can all the more know 'justice will be done'.

ultimately I believe this is what we all long for, to live as brothers in a world where true justice and true love prevails.

You have a 'beautiful heart' but I don't see that at all. I believe most live for power and wealth and the more they have -- is all the more they want. I believe most would put their 'interests' over the 'interests' of everyone else. I believe most would mainly let go of 'what covers the essentials for people at large' - so they do the work and keep the wealth and power flowing.

I most certainly do NOT see 'true justice' and 'true love' as the grounds by which interactions are based.

I believe alot of us men know what the "right" thing to do is in most situations,

I almost 'tearfully' would have to say 'I do NOT see that'. I believe every man is largely 'biased' by the Nation they were born in and it is impossible to NOT have some overwhelming sense of 'loyality' and 'dedication'. That we totally 'believe' we are right and everything we do is right.

I believe it is 'impossible' to not be filled with 'religious and cultural views' that totally shape our beliefs and the way we regard one another. That any person could with the 'deepest and truest sense of Sacred Conviction' reduce a woman or child to nothing and force them to live in the most horrible and restricted manner. That all of us are largely the result of what has been fed to us from day one - home - society. That if all we heard from the 'first moment' is that 'Chipmunks' are GOD - and this belief was all the more reinforced throughout the HOME -- and especially 'society at large' -- that any person grounded and living that life would have to believe it's true.

and when we look around this world and see our fellow man being bogged down by corruption and injustice and misery, our sense of humanity kicks in and makes us mad as H*LL we can't really do anything about it.

Well I voted for what I thought had to be 'The Antichrist' because I'd never seen anyone else more 'fit the picture'. So time will tell.

Soon though as you mention steady we WILL see "Change" we can all believe in.....

The 'Change' has to be 'Within' - so that nothing outside of us can possibly touch us - other than make us 'Stronger for Him'. That has to be what drives us to one another and is the true grounding to all we do. Then we will grow stronger and we will find 'Fulfillment' and 'Overwhelming Abundance'. Others will see a PEACE and HOPE in us that makes us different - and in the end that's all that really matters.

 

[brooksmd]

Boy I've missed alot the past 24 hrs. Birchtree, I'm past the risk taking. I've been 100% G the last couple of years. And with retirement just 4 months 19 days away (gonna be a heck of a Happy New Year) , I am more into keeping what I have rather than trying to double it. I do hope I'll see the day when this whole mess is straightened out. But I believe it will take years and I pray the future for my sons will be brighter than it looks now.

 

[Afishegg]

I was reading an article in the Dallas morning news today, and it was saying that for a young person, 30 yrs old who makes 50k a year and invests 6% a year when they get ready to retire would have (assuming 7% annual return) 1,300,000....I almost jumped outta my seat, then I started thinking with my ol noggin and just couldn't believe that number was right. ...ok!.....

6% of 50k is only 3k a year.... right? so 30 yrs old and I'm retiring @60 I don't care how "much more of ss I'll get @ 67 (assuming you can still retire early @ 60 then)

SO.. 3k a year for 30 yrs = 30k ! ...simple right? now assume 7% return a year for 30 yrs, I still don't get 1.5 million dollars almost , hell I don't get close to a million! I think a reasonable amount with market swings should be around ..."realistically" 300 - 400k. ....Am I missing something?