When would you start to save for retirement and where would you put your money?
In the current economic climate and with the banks stealing your money at every turn - it is better to forget retirement and keep working
Even the UK government retirement funds have been so badly mismanaged (stolen) that our retirement age has been pushed up and the benefits reduced to poverty levels.
The retirement funds are sponsored by the government? Do these funds invest in stocks or are they like social security in America?
I am no expert - but even I know that they ran out of funds, after I have paid in for a lifetime. It occurred just after Maggie Snatcher destroyed most small businesses and ensured that the big companies and banks got everything not nailed down.
YOU MUST BE OLD.... you remember Maggie, well so do I????????????????????
I am ancient ! but everything still works and my hair is growing back
I can still beat you at squash or badminton whoever you are and I can lift heavy things, which is why 'she' calls me donkey - she says
oh yeah you can beat me at anything.... i surrender. She sounds wonderful, you have found everything you need, are you a bit like the donkey in Shrek...
only more loveable and far less irritating - maybe.
i believe you.... I was married at 17. We were both 17 i am one day older than him. We have been married 36 years, and we have never had a row. Well not today yet.....
So that gives me your age - young'un ! I have known my far better half four years now, we have been an 'item' for two years last month. I am at least five years older than you and 'she' is 24. I have no idea why or how but we seem to happier than I remember anyone ever being and I am the only one of us who appears to be even aware of the age difference. Being a 'baby' in China helps I think, it automatically gives her the superiority in so many things and she has to do things for me that I can't do myself - like banking, shopping, oficial stuff
tieing your shoe lace. It is wonderful you have found happiness. My son is a history teacher in Florida.... He is 35 and i miss him a lot. He married a girl 8 years his senior, age is a strange thing..... Just watch your heart, does everyone say that???????????? I hope you get your child, do you already have children.
I have two - but they are old enough not to be considered children I think I miss them at times, but I worked away from home most of their later growing up and so got used to not being 'with' them at all times. I am hoping they will visit me here soon, my brother has already been, my sis is coming next month and it would be nice if they were next.
Forex trading is the best option, however there are so many option but forex trading is a type of investment and if you trade smartly in the market then you can make huge amount of money, save money for your retirement.there is no limitation of making money.
gettin back to the subject- the government never actually invests any of the money that we pay in but spends it, so the national insurance i have paid this month pays the pension of someone else ( they will be a bit sad cos i didnt earn enough this month to pay anything)
but yes in the uk we have to face the fact that we will be on our zimmer frames in the office and there will be allarms installed in chairs to stop us sleeping cos we will never retire!- my pension age is now 66, i am 50 ( ok a young 50) but i estimate by the time i get to retire the pension age will be 70
Plan to retire as early as possible. I've calculated the return on SS and it doesn't amount to a big difference if I retire early or if I wait until full retirement age.
If I knew when I was ten what I know now, I would have started then by putting $100. a year into the bank. Now though, I'll hide every penny I pick up off the street. Nancy ain't gettin' my money.
I agree with couturepopcafe, but would add to stay away from debt as much as possible and try to get your house paid off. Work for the government because they let you have an early retirement with pension.
Counturepopcafe & Barbara Key: Do you think all you need is Social Security or a Pension? I feel that it might not be enough to live a happy retirement. What are your opinions on 401k or IRAs that invests in mutual funds, stocks, bonds?
As a long term investment, stocks, maybe from an IRA or 401 are not bad. An awful lot of people, myself included, got hurt recently with the 401's, but they will recover given time.
As to when? As soon as you get your first job. I suppose you've heard the story of the two young men, one invested in his IRA for 10 years and quit while one waited 10 years to start and invested for 30 years? Guess who ended up with the most retirement money?
I agree that everything will recover eventually. My philosophy is that for stocks to go up they have to go down.This helps me sleep during the night. I heard a similar story and I think the one who invested in his IRA for 10 years and quit had more retirement money?
Saving for retirement is very essential. In addition, you can use Retirement calculator for estimation. Nowadays plenty of Retirement calculators are available it helps a lot and you can chat with a banker for help. A retirement calculator is just a tool that looks at how much money you earn now how much you might theoretically need when you retire and what steps you can take to bridge the gap.
My advice, in America is this: Get out of any Federally regulated retirement programs. IRA's, 401K's etc. Take the money, pay the penalties and invest in tangible assets. Real Estate, precious metals and commodities. If things go to hell in a hand basket you will be in better shape than most. If things turn around your real estate holdings will make you loads of money. Money you can then re-invest.
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