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The further away from retirement the better off you are, so you young guys should be fine.
1. Don’t count on your 401k as your sole source of income in retirement, as a down turn is always a possibility, we’ve seen it in 09 and now. 2. Diversify, real estate, precious metals, art, pensions, even classic cars. A junk 240z is worth 3-4K and that’s what they cost new ! 3. As you near retirement go conservative with your 401 meaning more toward interest only 4. Don’t go into retirement with debt. Have your house and any needed major improvements paid for. Have a good car ( cars ) paid for. And don’t bring any high interest credit card into retirement. This is a simple plan that works! We started to plan in our mid thirties, my wife retired at 55 and me at 63 People who are dependent on there 401k are now going to be in poor shape as compared to just 3 weeks ago. What dissolved in three weeks could take years to recover |
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Investing young is the key. The rule of 72 will work for the youngins. My mom had me started with IRAs and Mutual funds at 17 :tup: |
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For the last 20 years or so, I've had most of my 401k invested in stable stocks/bonds that pay a dividend. Where possible, dividends are re-invested. Once or twice a year, I will take dividends that are not auto-re-invested and manually re-invest them. I don't worry about price changes and I almost never sell a stock as long as it is paying a decent dividend - I'm in it for the long haul.
But that strategy may not work for you. Depends on your situation. |
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Finally lunch time. Starving for some reason today.
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I'm likely not going to make it to retirement age. By that time, the machines will take over.
So the plan is to ship the Z to Germany and go FLAT on Flugplatz |
man the paranoia over this nonsense suckssssssssss.
was showing my sister how i do my deer jerky she wanted to learn. got full sweat pants hoodie and beanie on. go inside my parents house and my new ocd tick is taking my temp. 99.4 i panic ran out the house then realize you fuckin idiot you were just moving a lot fully covered and your parents house is always a million degrees since my mom is bored and continuously cooking now. (not mad about that) waiting 10 min after taking my hoodie off and it was 99.0 and 98.7 i'd like a break from this now :facepalm: |
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