Best Get Saving for Retirement Kids

money.cnn.com/2005/04/05/retirem … tm?cnn=yes

Here are some scary facts about saving and investing. Get yourself motivated you procrastinators. :slight_smile:

[quote]
Sixty-nine percent of workers said they and/or their spouse had some savings for retirement ?that’s the highest level since 1994.

But more than half said the total value of their savings and investments were less than $25,000, not including the value of their home. And a majority of workers said they expect they will need less than 70 percent of their pre-retirement income.

That’s at odds with the reality of today’s retirees. Half of the current retirees surveyed by EBRI said they use 70 percent or more of their preretirement income for a lifestyle they characterize as adequate. [/quote]

I forsee a train wreck.

go to Fool.com if you need a hand getting started. :slight_smile:

Peace.

Note: This poster gets paid for some of these services

The biggest problems facing people with money problems are fear and ignorance. Many are more comfortable with denial and hoping the problem works itself out magically in the end. That’s just the “no saving” side of the spectrum. The other side, “Saving with stupid,” is where you have some overpaid guy trading on your account(churning) because he doesn’t get paid on how much you make, but on how much you trade. Then there’s the small matter of handling debts and taxes.

Finances are important. Learn what you need to knwo to make an informed decision.

This is a great resource! Thanks for telling about it in another thread. I am following the 13 Steps to Investing:
fool.com/school/13steps/13st … ?ref=SchAg

I wanted to take the advice about the index funds but am waiting for the NT dollar to break the 30-mark. So I’ve bought into a couple of local funds and the rest of my local savings is waiting. Again, excellent source of info!

A question: Do you take the advice about the market being the best for anything long-term (I believe 5+, ideally 10+ years is what they argue)? Or do you still place some of your money in completely safe tools such as treasury notes?

Who? Me?

For the very longest term, I have index funds, VTSMX and soon I will start a small cap index fund for the same reason. Time’s change, but stocks will always on average outperform bonds and other investment tools.

Other than that we own several huge multinational companies that also, will be around for a long long time and we DRiP them: GE, MO, PFE

Just remember the rule that always kicks every investor in the teeth, trade more=lose more. One way or another, for the amatuer, this will be true.

I never think about my VTSMX and it’s up over 20% in less than two years. MO, PFE and GE will be up and down, so I just invest in them regularly.

BTW, there is no right time to get it the market. Don’t wait for the NT to go up or down or whatever, just get started. :slight_smile:

Peace