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When to start

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Money Talk > Retirement Planning

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tony gray
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When to start  Reply with quote  

What is the correct signal of starting a retirement plan investment?
When you have to start and how to start. Whom to take advice from and how much to invest are some of the questions that trouble one during his course of employment and this fear is not inappropriate as after retirement income source is over and dependent on others being if your plan is not right so the correct signal is when ever you fell early as possible.
Post Tue Jul 23, 2013 5:45 pm
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jamescruz
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The early you start, the better it is. You need financial security in your retirement years. If your company is providing any sort of pension or retirement program, enrolled yourself in that.Otherwise, start saving yourself and invest in retirement programs.
Post Fri Aug 23, 2013 6:06 pm
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josht
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I know it's obvious to start early. However, I'm a little - no risk guy, so starting early can put you in a good position to save a lot of money and grow it without risk.

Most people say they are young so they can afford the risk. Then they lose their money.

I say you are young enough not to have to.

If you are older, then, in my opinion, you have a greater need to avoid risk.

However, I guess a better answer to your questions is, today. Start today.
Post Tue Aug 27, 2013 3:02 pm
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louiefrias
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Start by...  Reply with quote  

Buying and reading "Tax Free Retirement" by Patrick Kelly.
Post Wed Oct 05, 2016 9:12 pm
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ken-do-nim
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Really, the moment you get out of college, you should always make sure you are spending less than you take in, so that you are saving.

I'd like my story to be a cautionary tale. My wife was committed to private school education for our daughter, because she had private schooling growing up herself. The trouble is, we couldn't really afford it. For 4 dark years we struggled with paying for private school. First, we emptied her ESA college savings. Then I liquidated stock options. There was even a 401k loan at one point. Finally, this year I managed to move my daughter into public school. She couldn't be happier, my wife realizes how great a fit it is, and I just wish I could get that $60,000 back. But at least it's over.

Retirement saving doesn't have to be just money you put into a 401k or IRA. Any money you have saved you can put to work for you later on. That said, the earlier you can start funding your ROTH IRA, the better.
Post Fri Nov 18, 2016 6:32 pm
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oldguy
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quote:
That said, the earlier you can start funding <anything> the better.


If you invest $5000/yr at 11%/yr interest it will be $356,000 in 20 yrs.
Or, if you start 10 yrs early, $1,105,000 in 30 yrs.
Or, if you start even earlier, $3,230,000 in 40 yrs.

It doesn't matter much whether you grow your million in a roth account, a 401k account, a brokerage account, etc - a million is still a million no matter where you keep it.
Post Fri Nov 18, 2016 9:51 pm
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KathrynDerrick1
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Starting as early as you can is the best course of action. oldguy already did the math to prove that. In order to do your own math you need to think about when you want to retire (how many years from now), and also how much you want to live on per year. From there you can work backwards and figure out how much to put away per month. Research people you take advice from. Remember that many brokers work on commission. If you find out you've received bad advice, check out my profile for a resource that will help you out. Sure stocks can be risky, but that isn't an excuse for poorly managed investments.
Post Mon Dec 12, 2016 8:44 pm
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kigard
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Start as early as you can, while you are still working. All the hard work will pay off when you reach the required retirement age. Life is better when you get to spend your retirement years with the money you earned and saved during your working age.
Post Fri Mar 31, 2017 9:09 am
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Bryan96
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When to start?  Reply with quote  

Retirement planning is something that not many young people have in their minds. Living a college life, getting a job, making a career- all these things take up most of the youth and puts retirement plan on the backburner. SO when should you start planning for your retirement? The most general and obvious answer will be "at the earliest" or "as soon as your start earning". And it is true too. To give you a clearer picture, read the article https://www.routingnumberusa.com/thinking-retirement-start-planning-today
Post Tue Jul 25, 2017 8:25 am
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Kimberlie Broe
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Re: When to start  Reply with quote  

quote:
Originally posted by tony gray
What is the correct signal of starting a retirement plan investment?
When you have to start and how to start. Whom to take advice from and how much to invest are some of the questions that trouble one during his course of employment and this fear is not inappropriate as after retirement income source is over and dependent on others being if your plan is not right so the correct signal is when ever you fell early as possible.


My answer to the question, what should you start planning for your retirement? NOW
Post Fri Aug 04, 2017 5:45 pm
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armdass1
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USAA Federal Savings Bank's ABA number is 314074269. Unique ABA numbers are assigned to each financial institution by the U.S. Federal Reserve. Used to move funds electronically from one financial institution to another, they are sometimes called Bank Transit Routing numbers.
usaaroutingnumberss.com
Post Sun Oct 29, 2017 8:48 pm
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