| mrstickball said: Whats the yield on BMO, Khuutra? |
Dividends for the past five years have trended upward from 1.92 per share to 2.80 - this is about level historically, I guess
| 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?
Unicorns ARE real - They are just fat, grey and called Rhinos
Tanstalas said:
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.
Tag(thx fkusumot) - "Yet again I completely fail to see your point..."
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Tanstalas said:
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? |
You are somewhat correct about $400k not being enough to retire on. Assuming you'd get 8% APY from that $400k, you'd get about $32,000 to life off of.
However, I'd imagine that at some point, you'd be able to save back slightly more than $50/mo, to get a much higher amount of money.
And the money would 'skyrocket exponentially with time' due to compound interest. It certainly has a nice curve to it at 8% APY + $50/mo. What is scary is that with an extra 1.6% APY, you'd earn an additional $244,000 when you turn 65. If it was 12% (which is around the actual average for mutual funds and such in the US), you'd have just under $2m USD by the time you retired at age 65.
Back from the dead, I'm afraid.
Responsible people like you makes me sick.
Caused me think about my responsibility for a min and I want to throw up.
Retirement is overrated(says the man who is not currently employed) 
.
PSN ID: KingFate_
| KingFate said: Retirement is overrated(says the man who is not currently employed) . |
Yeah, you need work to put your play time in proper perspective.
So I say split the difference and work half-time. 
"The worst part about these reviews is they are [subjective]--and their scores often depend on how drunk you got the media at a Street Fighter event." — Mona Hamilton, Capcom Senior VP of Marketing
*Image indefinitely borrowed from BrainBoxLtd without his consent.
Khuutra said:
The idea is that you get a bigger return when you buy stock and reinvest it into buying more stok tan you would if you just had a high-yield savings account. And the taxes on dividend income is lower, etc. I seem older because.... eh I have no funny punchline. To your second post: My point was that I thought Slimebeast hated it when the state takes care of people. |
lol
It's about the difference between a small state and a big state. I am for the state taking care of people's basic needs if they are sick or disabled, or get in trouble, like accidents and stuff. And I'm not against universal healthcare (not that u said I was, but Kasz implied it). I don't think I've ever written anything to suggest that I am against basic universal healthcare.
In Sweden elder pensions are mandatory. A part of your income tax goes directly into the pension fund. That will secure a quite decent pension, especially if you actually work your whole lifetime. Some people want to invest additional money though privately to increase their future pension. It has lately become popular because the interest in those funds are free of tax (I think). I thought you had the same system in the US!
Slimebeast said:
lol It's about the difference between a small state and a big state. I am for the state taking care of people's basic needs if they are sick or disabled, or get in trouble, like accidents and stuff. And I'm not against universal healthcare (not that u said I was, but Kasz implied it). I don't think I've ever written anything to suggest that I am against basic universal healthcare. In Sweden elder pensions are mandatory. A part of your income tax goes directly into the pension fund. That will secure a quite decent pension, especially if you actually work your whole lifetime. Some people want to invest additional money though privately to increase their future pension. It has lately become popular because the interest in those funds are free of tax (I think). I thought you had the same system in the US! |
In the US, we have 2 'systems' of retirement:
1. Social Security. It is a government-mandated program that almost everyone except for self-employed and government workers contribute to. It features atrocious returns (usually barely above inflation), and is in peril, as it is a pay-as-you-go system, meaning that the money I've contributed isn't mine - its given to someone else's payments.
2. 401Ks. These were instituted by Ronald Reagan as a means as an auxiliary way to build up a pension. These are tax-free, and can be invested in whatever for fantastic returns. They aren't perfect (as you still have to put cash into social security ontop of the 401k), but they are much better than nothing.
So we do have a similar system through 401k's and IRAs...I have an IRA I invest in as well as my craptacular social security.
Back from the dead, I'm afraid.
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