I have a defined benefit pension that i have no control over and deferred comp. My tax deferred stuff is in the risky stuff but i have plenty of time to recover if need be. The way i figure it I'll be buying cheap. I've been meaning to open up a roth ira but keep forgetting.
The Marcellus Shale is my retirement:D In all seriousness, we're riding my wife's 401k out (like was said earlier, I'm young, so they should recover, and we're considering increasing our % contribution), and my TSA is in very safe and stable funds. I'm considering setting up a roth as well.
I will be investing in rental property. Mid to lower end housing has done nothing but increase in value and demand. Market can do as it pleases, but people will always need a roof over their head.
My wife and I both have solid 401K plans through our school dist. I've always invested in land since my early 20s. I will continue to. I own two properties right now, and I am looking for another piece of ground in the Midwest. My wife, and boys and I are all set up on a savings/life insurance policies too. We started our boys at ages 2-4...when they reach 50 and 52, with what we are paying in now, they are both projected to have 1 million in savings. When the market it great it does wonderful, when its poor it never drops below 2%. I carry a lot of life insurance as well, through 4 different companies. I learned the value of this when Dad died when I was a kid. He took very good care of my mother and us boys.. If I kicked the bucket my wife and boys would be in great shape.
I'm putting a lot into 401k, as much as my company will match. And my wife is doing KPERS with the school district. I put an offer in on some land not too long ago, but still am waiting. I'm currently putting in a geothermal system for my house. With all the "Green" federal tax and rural electric rebates right now it makes it a good deal. It'll cut all utility bills to about 1/3 and will pay for itself in about 7-8 years.
Good post Hooker and I couldn't agree more but when your In debt half a mill starting your own business It's tough to find the extra cash to do this. Hopefully In the next year I can finally get the ball rolling on this.
Kind of hard to come home and watch the news anymore... 401k's going into the toilette while politicians playing god with are country and way of life so they can stay in power or gain power in the next election. Maybe the answer lies in going to a one term president system and booting the whole global economy thing to the curb. I wont tell where i hide the mason jar but it seems the only way to save money anymore just like it did when my father was a child.
Absolutely, and if I die early I already have it worked out to set up a fund that will cover that cost. ? Hooker, do you have kids of your own?
No, not yet And I do plan on setting something up for them when I do, but I will more than likely give it to them when they graduate college.
Yep...I'm in it for the long ride. Hopefully in 30 yrs or so when they're pretty much changed all that we know about the area, I will be ready to move on...and south :D
I put 400 a month into my 401k and it gets matched...been doing this for 14 years. I also pay into the railroad retirement fund....which is rock solid. I will draw 100 a month for every year I work, 30 years = 3000 a month at age 60....My wife will also get 50 a month for every year I work for the railroad, 30 years = 1500 a month at age 60....togather we will be drawing 4500 a month from the railroad when I turn 60, not counting my 401k and other investments. Beyond that we have been putting back 1200 a month for 11 years now for hard times. Ive doubled and tripled large amounts of this over the years to help build it up faster. I'm just 38 Hook, and could retire comfortably at 48 but I'm in it to win it, age 60 or bust, lol!!!
My wife and I have been in the VRS (Virginia retirement system) for the past 12 years,. She has some good investments going on with the school system and I have just begun investing a certain percentage of my salary into a 401. Maybe I am doing something bigtime wrong, but many months my wife and I are just scraping by in our efforts to survive financially and to pay our bills/debts. I know that sounds bad, but raising three kids in Northern Virginia is no joke with two parents as public servants. No excuses though, I have to do a better job.
400 a month..plus another 1200...$1600??? in savings. The RR must pay pretty good. Are you able to do this and still raise kids? Not being noisy, just curious.
