UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev | Next
Author: PMcMullenCT Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75523  
Subject: Re: 12 years to save and invest for retirement Date: 1/2/2002 4:27 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 4
I am just now starting to plan for retirement. I am 53 years old and expect to have about $10,ooo to invest in the near future. My company offers a 401K but no company contributions.

Why wait for the "near future" for this $10K to arrive. If you're employed, you've probably got some money coming in every week or two. Start putting 20-25% aside, whether in your 401K plan or elsewhere. If you're lucky, you may be able to turn that $10K into $40K by the time you retire. It's not the answer to your retirement needs. If you're serious about preparing for retirement, make some adjustments and start saving real money. It may be an adjustment, but look at your SS statement and consider how you'll adjust to relying on that as your sole source of income.

I think my best bet is to learn to invest in the stock market and attempt to obtain 30% return on investment. This may be an unrealistic goal but it seems like the best plan so far. Comments are invited.

Consider yourself lucky if you have a single year with 30% returns between now and retirement. The risks you'd need to take to chase such unrealistic returns would be much more likely to leave you broke.

Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Post of the Day:
Berkshire Hathaway

Brookfield Asset Management
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement