Investment ideas to save for retirement

OMG great post. Thank you. I will be sending you a friend request. Please add me I would love to talk to you more. What do you think about CD's?

P.S. I have my associates degree in commercial and graphic arts and will be starting classes in medical billing and coding in Aug. so I totally agree when it comes to investing in yourself and having many trades to fall back on.

Please watch out for the CD investments these days. We've had three banks go under in our little area here, unheard of since the 30's. They'll be offering great rates, but who knows what their books look like. Even our local bank, which is just completely conservative is struggling.

I disagree with anyone saying to invest in stocks right now unless it's into something like a commodity ETF. You are in no position yet to navigate those waters. Buying Coke or P&G could still bite because our market is dropping.

I recommend reading a great deal before you start. There are a couple of online newsletters that are better than others. First is Money and Markets, although I never invest in any of their recommendations without thoroughly studying them. They are good to tell you the trends in the economy. The other is Early to Rise and, finally, the Day of Reckoning. These writers will help you steer a pretty good course. I don't always agree with them, but they broaden your back ground and help educate you.

That's an American thing is it?
Sounds smart enough. You can borrow money put in, but can you also get out the interest on a ROTH?

Thank you very much. I think that will be one I will for sure have to look into.

You can take out the interest, but it is taxable. The money that a person puts into the fund has already been taxed, therefore can be used anytime, for anything.
Roth IRA's do have some great investment benefits built into the program and it's just one great way to save some money for retirement... money that can be invested as a fund, to earn faster than a straight savings account.

It's always smart to start gathering a nest egg of your own, so that you have more control over the money.

Do you plan to work rest of your life for the same company?

Is it one of those 401K plans that roll over to the new company if you change jobs?

Yes it is. It follows you where ever you go.

Most companies will match your contribution, for example if you put one dollar into that account, some companies will match that so you end up with $2 in your account.
However after 9/11 many offers started offering a smaller match.

Some offer you to match 50 only. The contribution is before tax so you pay less taxable income.
But it also means less money on your check, it is an easy way to save. The money is then put into an investment account or interest earned Certificate of deposit. Which accrue interest and values over the years.

You cannot withdraw this money until you reach retirement age. Or if you choose to withdraw, you pay a tax penalty for early withdrawal.

Hope you find this information helpful.

My hubby has one that does match after you put in a certain amount and up to another amount. I have no clue what those amounts are though. I do know that many times I have heard that a 401K just isn't enough anymore. I'm trying to learn but it all reads like a different language to me.

Thank you. I am trying to learn about the different options out there. That was sort of the reason behind this post. I wanted to see what other people pop up with then I can research it.
The company does match our 401K so we thought it would be a good idea. My grandfather keeps telling me to get cd's.

It's so good to see your interest in saving for your retirement at a young age because you have then the power of time to manage your much needed assets into wealth for when you get older.

What everyone gave you advice on above is good. But I've been investing for the past twenty years, and I will tell you something very sobering: I believe that for the year, perhaps two, a young person like you would be best to just ammass capital in a good brokerage account and wait until the economy and general feeling about the economy starts to turn around. If you do not work for a company with a 401k, then opening a Roth IRA is a great way to start saving for the future.

Also, I think investing in a variety of investments depends on what is happening in the world economy. I would take a couple of mentors that you really agree with and use their advice to help you. My father is my mentor, and it has paid off handsomely. If you want, you can add me in at your site and I'd be willing to mentor you by answering questions.

Do you know how to set up a brokerage account? Please look at all your options for setting up a retirement account and remember that you don't have to pay anyone to have one. Suggestions: Fidelity, Schwab, etc. Good luck!

Thanks it does. I'm looking for a good interest rate on cd's right now.

Sounds like you are right on track then.
Best wishes on your future.

We are very thrifty people. If we go out on holiday we go camping, and the cars are used,as for eating out we very rarely do it. We are trying to keep our lives as simple as we can. And I do the families haircuts always have.Our main thing is that I am a stay at home mom so we are doing everything on a single income, but I really need to be at home with the kids for many reasons.
I will look into a savings account that does the rewards for no wihtdrawls I didn't know those were out there. Thanks.

It's the only way to go...thriftyness I mean. The best of things are still free but it still must be hard for you if you have children at school. The pressure on people to spend! spend! spend! these days is obscene.
Even a tiny saving of one or two dollars is something and it will add up. If nothing else, it will be there for an emergency. Some short term investments can be made with as little as $500...the secret is to keep it rolling over and letting it grow. I don't know how old your kids are but encourage them now to look for paying jobs when they can. People who learn these saving techniques and work ethics are the ones who are successful in life...then your kids can give you a stately old age...

Thanks for your post.

Yeah I did some research and found that if I hope to retire comfortably wiht my hubby then I need to be saving about $400 a month. That's a lot for me as we are living off one income and then what ever I make online is what I save. I do not make any where near that much a month online.

Wow you aren't afraid of someone robbing the women of the gold? I would love to invest in real estate but do not have the $ for that yet. Though I do like the jewelry idea. at least I would have a excuse to go shopping. I have a Vietnamese friend that buys gold in his country and then brings it here to sell it. The american dollar is worth a lot there and so he will buy these beautiful pieces for next to nothing and them sell it for 3 times the amount here. He has been doing this for years and only invested $500 in the beginning then just reinvests half of the money from the sales. The rest he puts in the bank. His wife says they are doing very well and she's loving the travel and shopping.
Thank you for sharing but I have a question. The necklace of gold threads with black beads, is this a symbol of being married like a wedding ring is here? What would happen should a woman not wear it? You know like it got broken,lost,stolen, or maybe she has a metal allergy and can't wear gold. I'm very curious about other cultures so I hop you don't mind the question.

It's a cultural thing with us that women are not robbed (in broad daylight at least) of all this gold jewelry that they adorn themselves with.
Yes.... the gold necklace with black beads is the equivalent to a wedding ring. A widow CANNOT wear it.

If a married woman doesn't wear it (and other things like ear rings etc, she is 'looked at' in different ways by Society.... with all possible evil innuendoes.
I mean, she'd really have to be a socially very strong person to carry this off (I did.... tells you something about me, in the process. But then I'm a professional with a very solid professional and educational background and modesty be damned, for anyone to dictate things to me. I'm an exception to the rule, in this country and in this Society. This type of non-compliance would be considered sacrilagenous in a woman).

This black-bead thing has got a pincer-like hold on the collective Indian Psyche, so much so that even Christian and Muslim married women wear them... I know you are going to find this hard to believe and digest!
But it's 100% true.

I'm giving you links to see this abomination (to my mind, it is what I blatantly call a YOKE.... a woman is being harnessed into marital labour.... yeah, I say such things and haven't got murdered for that, yet).

http://www.queensjeweller...
http://vivahajunction.com...
http://www.ninajeweler.co...

Thank you for sharing this. I had never thought about it before but I guess every culture had their "trappings" that are often imposed on the women. My hubby recently told me that he was upset that I had taken off my wedding ring but after I explained that I had gained some weight and the rings were hurting me. Many people though have made comments though that I should deal with the discomfort. They can kiss my big toe. I am happy to hear that you have been able to live as you have chosen as well as been able to speak your mind with out getting shot.
That being said I am all for those that choose to wear the necklace of their own free will but I will never condone a person being forced to do anything. My birth name is Freedom and so is my (and every other persons) birth right. Stay strong and true to yourself.

Yeah... that's the way to BE!