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« on: March 10, 2005, 03:09 PM »
Everyone here sound like they are taking care of themselves quite well. I do wish I had listened to my Accounting teacher in the 80's and put that 2,000 dollars away At the time. 2,000 dollars may as well have been a million to me.
If your younger than 40 get into risky stocks and go after more aggressive funds you have the time to bounce back and if it works you'll be counting your lucky stars. I was extremely lucky in real Estate it had nothing to do with the my brawny brain power I bought in an area that was built out and was a conveniant suburb of a Metropolitian statistical area(lots of capitol wealth). I do agree Morgbug 40 is way to early to retire you will find by 40 the purpose of your life changes dramatically, it's not about what you can get, but what your capable of accomplishing albeit, financial, personal, social or whatever becomes the purpose in your life. You'll want to pursue that I believe that's when you become truly wealthy, because you are ruled by passion.
This isn't scientific and it's not like you have an epiphany,but you'll be on to bigger things in your life thingsthat are bigger than you(similar to those feeling after your first child is born). Well that's my story and that's how I feel about my life right now.
Morgbug-
We have pension plans here in the untied states however they are completely seperate from our 401k's basically good large companies provide them however they are getting harder and harder to find. your work x amount of years oyu get x amount of dollars during retirement. it's a little more complicated than that but it's ontop of a 401 k plan 401k are a way to put money away now and then with draw the funds later in life when your income is less so that your tax brackets are reduced and you pay less taxes on the amount you initially invested.
Famine-
THat sounds like a good pay for a young guy over 50,000 a year for a young guy is great money. the median age in america is 36 and the median income is $51,400 per house hold. individual income is about $36,197. Consider yourself far above the curve. THe top 5% of americans make over $164,000 per house hold while 18% earn over $94,000 dollars. In Most foreign nations the GDP is far lower than the U.S., as I said is 36,197/year India, $410/year China $890/year Ethiopia is $100/year. sorry Statistical analysis is part of my job I can whip this crap out like you wouldn't believe. With over 50,000 a year you should be able to save comfortably.