My IRA was started in 1988/89. Sandy and I had some conservative plans and I have not funded mine all that well. I said in like 90, honey I am going to go real aggressive and it will be volatile, but long term is always a win. So lets say in 24 years I have put 20K-25K in. 24 Years later it is worth low 6 figures. Time, all you have to do is invest as best you can, not touching it, pretending it is gone (Same with your savings account). You will young people be 55 like me one day, it will happen. Save now when you are young and can do without for when you are old and you do not want too. Young people, while the Utilities will drop when we have a market crash, that is not a time to jump out, that is a time to jump in and buy more. Do Dollar Cost Averaging. I will not explain it here, it is simple, say use $100 a month to a Utility bases Mutual Fund, Water, Oil, Electric companies they do it all for you. Put in $100 a month, month after month by setting up an allotment at work. If you need help and have never invested, I would be happy to impart what I know of 28 years of investing. Sell what I buy and buy what I sell and you will be a millionaire in 30 years LOL. Seriously, if you need help and want to set up a brokerage account, I use TD Ameritrade all this time. 100 a month, 1200 a year, 24,000 invested over 20 years, I assure you in 20 years it will gain about 8-14% and if we crash, much more because inflation will bring higher interest rates. (Refinance your houses now while it is so low. Borrow in the closing costs and all costs so you do not have to lay out any or much cash (Someone in real estate help me on this one). In 26 years my avg return over that entire time is 13.47% it will go up and go down on major annual market moves. IT IS NOT COMPLICATED. It is like a RONCO Rotessiary (SP) Set it and forget it. Just $100 a month, $50 if that is easier. You rich ass breeders can afford that and more. Utility Mutual Funds are conservative, so you will not go up or down by much normally. A bad day is a bad day and good days are good days. DO NOT LOOK IT UP everyday. You will at first and if you do not have a stomach for down swings, then you will want to sell when dropping or when you think you made money. All of these utilities pay a dividend. You set it up to DRP, Pronounced DRIP, Dividend Reinvestment Program. It turns your payouts to buy more shares of the mutual fund, as well as end of year or quarterly payments to buy more shares. Set it, forget it and 20-30 years later, you have a nice nest egg and in 20 years if you do not put more in monthly, that 24K will probably be over 100K. Maybe more.
Posted on: Fri, 10 Oct 2014 02:20:11 +0000
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