Well considering inflation today, I say when you are in school and mum gives you lunch money, instead of giving it to the local bully, put it into your savings.
On a serious note, go for saving certificates and investing or shares.
Most people become very upset when thinking about retirement, instead of looking at retirement as an end of an era, look at it as the beginning.
There is a type of investment called "target-date mutual funds." The idea is that if you know you are going to retire in 20 or 30 years, the mutual fund is invested in higher growth, riskier funds at the beginning of the 20 to 30 years and gradually shifts to higher percentages of more conservative investments as the target date approaches.
The idea is that you get maximum growth for the bulk of the investment period, and as you approach retirement you lock in more and more of your earnings - they are switched to investments less vulnerable to declining value.
Not all of these funds have lived up to their promise, but the idea behind them is sound. You can do some of this yourself by reviewing investments annually, staying diversified. As time marches on, move your money out of more volative equities and into high quality bonds, treasuries, and other more stable income-type investments.
by countrywomen 9 years ago
We were just following the news recently where Jon Stewart accused Jim Kramer (and others in the media) for there part in the 401k losses. Both myself and to a great extent my husband's 401k was lost. Recently when we saw the AIG top executives giving bonuses to themselves from our hard...
by Wendy Iturrizaga 7 years ago
HubMob Weekly Topic: Creating a Financial Plan
by young inv 9 years ago
Hello everyone , im 18 and am learning to be a carpenter in my second year , I have recently become interested in investing money i have saved into something , i come up with theories at work about why such and such is a great place to invest my money , but before i take a leap , i need to know...
by Sharon Zaks 7 years ago
Hello,I'm Sharon, I'm 22 and I'm interested at creating my financial system. I'm interested in:- Establish my own Internet business (or maybe a few).- Investing in the capital market.- Buying Real Estate asset.I'm very new at all of those and need your help at targets definition. I've just readed...
by Anuj Agarwal 9 years ago
Is it better to go for a retirement plan that many insurance companies are offering or one should go for savings on personal basis and deposit the money in long term fixed deposits or other safe instruments.
by JaxsonRaine 6 years ago
http://www.cato.org/pubs/pas/PA692.pdfThis is exactly why I hate the government forcing me to do things through them.This study looked at what private investments would have done compared to Social Security. It broke the numbers up into high-income, average-income, and low-income scenarios.Private...
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