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  #1  
Old 01-18-2010, 05:38 PM
ProcsLC ProcsLC is offline
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Best Retirement Options?

Hey Guys, this year is actually the first year I have lowered all of my debt to as low as it can go and I am starting my own retirement account... For the past two years I have invested a few dollars here and there and made a few bucks but nothing as dramatic as I want to start this season... talking about 30% of my take home profit going into retirment, save now...party later attitude. My question being... With the economy being the way it is, what kind of options have you guys looked into for retirement accounts? Here is what I have started so far....

20% cash into aggressive funds

15% cash into conservative funds

10% cash into CD's

50% into self appointed IRA for buying tax lien certificates

5% cash in savings account

Any thoughts here would be appreciated.... I put the most into tax lien certificates because of the HUGE returns and interest rates, and by opening a self appointed IRA its tax defered...

Whats everyone else do?
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  #2  
Old 01-18-2010, 06:18 PM
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WHIPPLE5.7 WHIPPLE5.7 is offline
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Gold and real estate. I tried stocks in what was supposed to be safe or low risk and I lost thousands and thousands. CD's are OK but there may come a day when banks and cash have no value at all. Anywhere in the world you can use Gold in trade for things.
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  #3  
Old 01-18-2010, 07:17 PM
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siclmn siclmn is offline
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Since you bought some gold just where and how do you store it? I would like to buy some too.
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  #4  
Old 01-18-2010, 09:04 PM
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Lawn Man Dave Lawn Man Dave is offline
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Quote:
Originally Posted by WHIPPLE5.7 View Post
Gold and real estate. I tried stocks in what was supposed to be safe or low risk and I lost thousands and thousands. CD's are OK but there may come a day when banks and cash have no value at all. Anywhere in the world you can use Gold in trade for things.
There are a lot of poeple who have lost thousand's in the stock's.. they are just waiting for it to go back up again then sell.

I had a professor in college that did this and he said once his stocks hit a million in value he was going to retire..... The next year came around and one day he retired haha.

With all the money people and investent people I have told to it does not seem to matter so much what you invest in, what matter's is if you sell to early.

Real Estate is the same way, right now it is not worth much, give it a few years though..... now if your retierment age is say 60 are you going to sell all the real estate even if the market has tanked again at 60? I hope not. Hopefully you will sell it when you think it is worth the most.

Gold is also the same way, it like stock's has a value that goes up and down.

Yes with the high risk stuff you can make or loose a lot of money but if you are smart with it you will not loose all of it.

Id buy gold but only with if it was cheap, if you buy it for about what it sell's for then why not just put the money in a savings account with a descent intrest rate? Not to mention right now Gold is worth a lot........ I would not be buying any right now I think.

Id talk to a financial advisor honestly but find a good one.
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Old 01-18-2010, 10:18 PM
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Bob_n_weave Bob_n_weave is offline
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A good topic for everyone to chew on. For all you young guys out there don't forget about about putting money away for Retirement. Don't wait until your 40 to start. Are you paying into Social Security ? No. What do you plan on living off of when your 65-75 years old ?
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  #6  
Old 01-18-2010, 10:48 PM
Scagmower48 Scagmower48 is offline
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Probably the best thing to do to start off if you haven't done it already would be to buy a house and pay it off ASAP. A Roth IRA would also be a good idea because it will lower your taxable income and fund retirement. The only thing to decide is what to invest the IRA in. From what you have posted you are on the right track.
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  #7  
Old 01-18-2010, 11:05 PM
Hub City Landscaping Hub City Landscaping is offline
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Diversity is key. Don't put all your money into any one investment.

I am putting my money into real estate and an IRA that is managed by Janus.

I don't plan on getting any money back from Social Security when I hit retirement age (I'm 34 now), so I am investing for myself.
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  #8  
Old 01-19-2010, 02:45 AM
topsites topsites is offline
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Don't forget your own company, that would be the first place to drop it, I always invest there first.
The house, too.
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  #9  
Old 01-19-2010, 02:48 AM
STL Cuts STL Cuts is offline
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x2 on the Roth IRA

I am 20 and plan on putting the max in this year and start building my "nest egg" as they call it.
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  #10  
Old 01-19-2010, 03:15 AM
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MJB MJB is offline
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Seems like gold and real estate make the most sense. If the dollar continues down this path it's going, it will be worthless @ gold will be worth $2000 an oz before long. China has been buying up gold since 2000 and now I've heard the U.S. is trying to buy it all up too. Ever notice all the ads about "will buy your gold" they are paying $1000 per oz approx for 24kt gold. How are they making money off it. The government paying $1300 oz for your gold. What happens if one day we wake up and all our money in the bank has changed over to the euro or something, and our cash is almost worthless?
Sorry for the what ifs, but hasn't anybody else noticed whats going on?
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