slashvanyoung
Dopefish lives!
For short- and middle-term investments, with varying degrees of risk, you could also look into peer to peer lending: http://www.prosper.com/
What's this IRA business? Over here we have Superannuation funds that you invest a portion of your income into, and are eligible to withdraw from when retiring. Is this more or less the same thing?
Roy's little story. http://thecoldequations.blogspot.com/ Just google "$1,365,227?".
Seriously. I get 2% in a money market account at my bank even in this economy (with no risk). It was close to 6% in the same account a couple of years ago.If you can manage to invest and only get a 1% or below rate of return, you're doing it wrong. Granted the example I gave is optimistic, but its not over the top.
If you're 23 and haven't started saving for retirement yet start NOW. Like today now. Here's a little example about how much compounding returns can help you.
William and James are twin brothers who are 65 years old. 45 years ago (at the end of the year when he reached 20), William started an IRA and put $2K in the account at the end of each year. After 20 years of contributions, William stopped making new deposits but left the accumulated contributions in the IRA fund. The fund produced returns of 10% per year tax-free. James started his own IRA when he reached the age of 40 (just after William quit) and contributed $2K per year for 25 years, making his last contribution today. James invested 25% more money in total than William. James also earned 10% on his investments tax-free. What are the values of William’s and James’s IRA funds today?
William has $1,365,227. James has $218,364.
BTW the difference between a Roth and traditional IRA is that in a Roth you have paid tax on the $ already and in a traditional you defer taxes until you are actually withdrawing the money at retirement. There are other rules but I'm afraid a heavy metal forum isn't the best venue to learn them.
Totally. I just didn't want to pretend to be an authority when there are some great articles that tell the story more accurately than I (or most folks here) would or could.Thanks Egan - and I never said this was going to be my only source of information, just trying to get ideas from people I know and respect
Totally. I just didn't want to pretend to be an authority when there are some great articles that tell the story more accurately than I (or most folks here) would or could.
http://money.cnn.com/retirement/guide/IRA_Basics.moneymag/index2.htm
Haha, yeah, I'm afraid after that thread you started, I'll pass on Gold Aaron
Real estate. Right now the markets in the shitter and prices are still low but they arent gona stay there for ever if you can afford to put to 10-20% down on a house get a mortgage and rent it out covering most of the cost of the mortgage youll be fukin rollin in cash in a few years, ive heard that some places in the states such as vegas there are properties that where goin for 800K are down to 100-200K.