So I think we all know that by the time most of us are at the usual retirement age that there will be no social security and every pension plan in existence is drying up. Plus thinking about your folks getting old and taking care of your own kids, it is going to be a pain in the ass to cover all those bases (for those of us who will be in that situation). I was wondering if anyone was doing any investing of any sort on the side, whether it be stocks or compound interest type stuff. Both have been on my mind the last few days and I thought it would be a good idea for a new thread. Let it begin.
The retirement planning thread
- Thread starter xxBLOOD88SHOTxx
- Start date
real estate has always been positive for me.
Seems very high risk, especially as of the last few years. Also you're in Canada, obviously a different story here in the US. A couple people on this forum have done it, but I don't think any do it for a living. My grandfather is a realtor as is one of my uncles and an aunt and they run their own realty group. They were all doing really well until the economy took a dump, they mainly rely on their rentals for income, and my uncle is the only licensed HUD home agent in the area so he has the advantage on that.
Also, in what way are you affiliating real estate with investments? You mean flipping on the side or rental properties or what....
yeah the us took quite a dump while the canadian market defying naysayers.
property in emerging markets seems interesting and yes as rental property not flipping. Buy the property, let the rental income pay the mortgage and by the time you retire the rental income can supplement your retirement.
was playing stocks on the Hang Seng Index in the mid to late 90's and got burnt pretty bad. Still playing some blue chips on the NYSE and Dow and hasn't really provided me with anything substantial.
Ive been considering this as well. I need to make more money and set up more outside resources.
Yeah there isn't much for emerging markets in the US right now. I believe I currently live in the one of the fastest growing cities in the country (was #1 in 2011) and houses are going up like weeds. There is easily 8 new developments within 10 miles of me with 3-4 house being completed in them every few weeks.
It seems you are quite a bit older than most of us on the site, this thread is more about getting something started if you know what I mean. I'm 24 working full time and going to school, and a lot of us are in the same boat. We don't have the time let alone the money to start snagging up houses and dealing with renter BS.
The Canadian market is about to lose it's ass. Europe took a huge hit (what with Greece and global market depletion), Canada is next in line to feel the squeeze. I don't know enough about it to make any firm assessments, but this is what I predict, anyway.
I see so many track homes going up within weeks now, it's crazy. These things are an investor's nightmare.. they're going to require massive work and $$$ to renovate and replace s**t materials that cut-rate contractors use to get the houses up quickly.
I have a few friends that dabble in ForEx trading, and have been successful (like 90% return profit margin.. they just don't invest in the 5 figures or anything). I have a demo account that I've yet to play with. I need to get on that. A nest egg is a really good idea.. I'd like to have like $100k tucked aside by the time I'm 60, and hopefully by then, I'll know how to work stocks or something. It's not fun to think about.. I'm really hoping I'll work for someone that has a good retirement plan..
After this holiday season I think I'm going to start a high interest saving account. Something like 3k adding 50 per week with on a conservative 4% interest would be around 200k by the time I die.
Not to mention my 401k, which can vary from employer to employer. My current one is pretty good, I think they match up to 6% of your annual income per year or something like that. Which is only like 30 a week, but if I can keep the savings account going strong I can be a little more aggressive with how my 401k is invested.
Not to mention my 401k, which can vary from employer to employer. My current one is pretty good, I think they match up to 6% of your annual income per year or something like that. Which is only like 30 a week, but if I can keep the savings account going strong I can be a little more aggressive with how my 401k is invested.
I haven't had a 401k in like.. 5 years. I didn't have much invested into it to begin with lol.
If you're 24 you should be as aggressive as possible with your 401k anyhow.
Where are you getting a 4% interest savings account?
I lost my ass on my 401k. Theres better options out there
China is still one emerging market and dumping some coin to supplement my retirement income. you can see the how to build your own home I posted. Will be updating those pics later.
link below with plenty of pictures, plans, and people to do the manual labour.
http://www.clubcivic.com/board/showthread.php?t=223379
Again, 99.9% of us are going to do nothing with China except eat their food and shop at Wal-Mart. I also do not see where building my own house plays into this thread?
if you see the plans there is a total of 7 units that will be all rented out. That rental income that will be supplementing my retirement income.
Great topic. I've been thinking a lot about this as well. Only thing I've been doing is the 401k because my company does 100% matching up to 6% so it's a no brainier. Free money! Aside from that, I haven't been doing anything. Frankly because I don't understand it and loosing money scares me.
Currently, I subscribe to Money and Investment magazines and like to poke around in there for tips but really, I just don't think i'm at the right place in my life to invest. There is still money I can invest into myself which I think will bring higher returns than 4% annually. I don't have a degree for example and would like to get my masters or higher at some point. That, combined with my work experience, should put me at the top of the list when the day comes that I can start applying for executive positions in the airline industry. My hope is that spending the money on my education will put me ahead (in the long run) of where I would have been if I would have invested it at the time I started getting my higher education. Thoughts??
... That's where my head is at currently anyway. Wish I knew more about this sort of thing though.
Currently, I subscribe to Money and Investment magazines and like to poke around in there for tips but really, I just don't think i'm at the right place in my life to invest. There is still money I can invest into myself which I think will bring higher returns than 4% annually. I don't have a degree for example and would like to get my masters or higher at some point. That, combined with my work experience, should put me at the top of the list when the day comes that I can start applying for executive positions in the airline industry. My hope is that spending the money on my education will put me ahead (in the long run) of where I would have been if I would have invested it at the time I started getting my higher education. Thoughts??
... That's where my head is at currently anyway. Wish I knew more about this sort of thing though.
Likewise, investing in yourself is the best way to help you take care of your loved ones too.
And when I said 4% interest I meant something like mutual funds, sorry for any confusion. My company does the same 100% up to 6% annual income. Literally free money there. My 401k is aggressive, like the second highest risk program that is offered. Having that plus something more solid like a ROTH IRA or something (if that is any different from a 401k, I think it is)
When you put money into your 401k, you are putting money into mutual funds. If you know what you are doing you can put money into a mutual fund on your own and it might perform better than what's in your 401k but it all depends. An IRA, whether it be a Simple IRA or Roth IRA isn't really all that different from a 401k. It's basically works the same way but you can set one up independently. Roth IRAs are different in that you are taxed upfront, rather than on a withdrawal. It's a good thing to have, but it's in no way more solid than a 401k. It's a different account but it's all the same market.
Roth IRAs are supposed to be good because when you retire, you can withdraw from that first and continue to let your 401k earn for a couple more years.
Yeah, as soon as I started looking at them it was obvious they were the same thing.
at my job I have a 401k through vanguard. I put in 9% and my work also puts in 9%. I also put half my raises percentage into it which will be 1-2% a year. I know my dad did the same thin and in 5 years he is around 15ish percent.
based of the 9 I put in now, my yearly amount at retirement will be around 112k a year and go up with my raises
I could also allow them to invest in more but I choose not to. the risk isn't worth the reward to me yet
based of the 9 I put in now, my yearly amount at retirement will be around 112k a year and go up with my raises
I could also allow them to invest in more but I choose not to. the risk isn't worth the reward to me yet
I really need to find a new job lol. I miss having a 401k. I had 100% matched at 6% as well.