Quote:
Originally Posted by nbr3bagshotrow
Me and Mrs Hobbit both have 401K's and I've been shifting many of my investments from high growth to income producing stocks. When the market was down, I chose to pump a lot of cash into our 401K's and it's paying off now. Give me about 5 years and the income produced will cover my take home pay I get now.
I think about retirement daily and follow all my stocks very closely. I check all news articles and my Schwab account gets me investment advice from Schwab, S&P, Reuters, and a few others.
|
Same here. I had a major fallout in my mid 20's and had to take the penalty to empty my 401K to save my ass and have sense then reallocated monthly funds to another.
If your young go high risk and build fast. Take advantage of any matching that might be offered through your employer. I made a point to set aside a whole year where i did very minimal spending and put all that extra into my 401K.
I have done that off and on for a total of about maybe 5 years. When i reached my mid 30's i started moving out of high risk into more stable playing fields.
I took a big hit when the economy went south on us and ill probably never regain that capital that i lost. Its the risk one takes.
I am by now means rich hell i wouldn't even say im well off. I work a 9 to 5 like everyone else but i don't live check to check and have some savings for retirement and i can find piece of mind in that.
Look into things that will pay out long term like life insurance bonds and mutual funds. Anything that has guaranteed return on it. Dump money into it/them and let time do the work. Yes your right about the house but its the same with a car. Anything you dont own than you owe money on is considered a liability as well as possibly an investment item. Marriage really depends where you live as far as laws and funds go. Follow your heart and not your pocket book but dont be blind to whats going on around you. Ill tell you this,when time comes around its all the memories and moments that you create that matter in the long run.