Sometimes Being an Adult Sucks (kinda gaming related, all finances)

[vlad321]

Tanstalas said:

vlad321 said:
I had this in an edit but you ebat me to it so I'll jsut say it here:

The way I ensured some safty, and my retirement, is by putting $50 a month at a very young age in a mutual fund, the ones with very low returns but that skyrocket exponentially with time. Other than that, I have enjoyed my life by going abroad to interesting places almost every year (this year is the first in a long long time where I am stuck in the US for the whole year) and what else I have goes to making my domestic life more fun. My account is also happily growing and at around 35 I might even stop putting new money in it since it just won't matter.

I don't know how i is for a later age, but just throw small amounts of money in there, but do it religiously, and you should be fine. By the way, the lipstick industry is the most stable industry and is literally depression-proof.

Not to sound like an ass, because saving money IS a good thing, however, at only $50 a month, you will be eating dog food at retirement age :)

If you put in $50 a month from the time you were 15 until 65 (retirement age) you would have a shade less than 400,000 saved if you were getting an 8% annual return, which is a pretty safe assumption.  

I don't think that would be enough to retire on.

I'm also confused with your "skyrocket exponentially with time" comment?  Are you talking about compound interest?  

Yes compounding interest, I have also been putting  more once I hit 20. i was just trying to make a general point.