I need professional help! Questions about saving for retirement!?
What is your strategy for retirement? What kind of bank will you use to save your money, tell me the interest you expect, tell me everything in details if you can, if not just tell me the basic plans that you have set up, I dont care if your 18 years old or 60 years old, please let me know what your retirement plan is. Thank you! You have no idea how much this will help me!
Public Comments
- I am in my late 30's and my strategy is to diversify the investments that I have in my retirement, currently, I am in a 60%stock or equities and 35% in fixed income and 5 % international, the way I look at it is that I have a long term horizion so I need to be as agressive as possible to make sure I get some long term growth, as I get older, the percentages towards fixed income will increase.
- My first step was to pay down my debt. All I have now is some student loans remaining and a mortgage. From there I saved as much as possible to set up 6 months of living expense. Now I max out my 401k and IRA, take advantage of company matches, and put whatever else I can into a diversified fund of: 30% international, 70% US Stocks. Over time, my investments will double, triple and quadruple in growth just from compound interest below (see link/resources to learn about compound interest). Now I'm focusing on creating more income sources to boost my contributions to my investments.
