So You Want To Retire Rich eh?
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@scottalanmiller you're right I didn't mean bonds, I meant Mutual Funds. Now the question - are you cool with those?
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@Dashrender said:
@scottalanmiller you're right I didn't mean bonds, I meant Mutual Funds. Now the question - are you cool with those?
No, they are just a means of hiring a manager as a group. You are still paying humans to make bad decisions.
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@Marcelo said:
Specualtion is a very good game when you make money, but when you loose it, its annoying and you wonder if the guy did not just loose it so he could make some, friend or not. Very simplistic view but i dn't like bankers or people who try and sell you a product that a bank is selling. they make so much money and then we get punished because of bad investment decisions, but the individual bankers don't get hurt when they play on the sotckmarket.
Agreed, don't use them.
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How do you invest then?
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@Dashrender said:
How do you invest then?
Index Funds. Well known as the most conservative means of reliable investing. They have always outperformed any other category. They have the lowest overhead so inherently carry a fraction of the normal risk. There are no people to get emotional or crazy.
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I don't, can't. i have a family and in Germany the system for retirement is different, you are required, by law to pay into retirement, the more the better, but yeah, its a different system, and i don't have money i can lose.
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@Marcelo said:
I don't, can't. i have a family and in Germany the system for retirement is different, you are required, by law to pay into retirement, the more the better, but yeah, its a different system, and i don't have money i can lose.
We do both here. We have to pay some into SS. Then we "have" to use things like 401K (insane if you don't.) Then extra you put wherever you want.
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@scottalanmiller said:
@Marcelo said:
I don't, can't. i have a family and in Germany the system for retirement is different, you are required, by law to pay into retirement, the more the better, but yeah, its a different system, and i don't have money i can lose.
We do both here. We have to pay some into SS. Then we "have" to use things like 401K (insane if you don't.) Then extra you put wherever you want.
Insane if you don't as long as the employer is offering any type of matching.
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@Dashrender said:
@scottalanmiller said:
@Marcelo said:
I don't, can't. i have a family and in Germany the system for retirement is different, you are required, by law to pay into retirement, the more the better, but yeah, its a different system, and i don't have money i can lose.
We do both here. We have to pay some into SS. Then we "have" to use things like 401K (insane if you don't.) Then extra you put wherever you want.
Insane if you don't as long as the employer is offering any type of matching.
Even if they don't there are good tax advantages.
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If I started a "Nara's Tips for Saving Money for IT Pros" periodic series of threads, would it get deleted?
