Fix Up, Look Sharp

phaedrus · 03-12-2005, 11:19 PM

how much money do you invest on a monthly basis?
i need to start banking some into mutual funds.
i want to retire early.

Nimrod's Son · 03-12-2005, 11:23 PM

7% of gross.

Company partial match

phaedrus · 03-12-2005, 11:26 PM

is that pretty typical? i'm just graduating and expect to have a lot of expenses over the next few years (rent, furniture, entertainment, maybe car) so i that seems pretty high for me at this point.

wally · 03-12-2005, 11:47 PM

even if it's a very small amount, putting aside something every month in some sort of retirement account is the best way to go at a young age.

Nimrod's Son · 03-12-2005, 11:50 PM

Quote:

Originally posted by phaedrus
is that pretty typical? i'm just graduating and expect to have a lot of expenses over the next few years (rent, furniture, entertainment, maybe car) so i that seems pretty high for me at this point.

The easrlier investments pay off MUCH more than those later in life

Basically if you start at 20 instead of 30, you will have twice as much when you retire

Also, the 7% is pre-tax, so it's not as much as you'd think out of your takehome pay

03-12-2005, 11:19 PM	#1
phaedrus Minion of Satan Location: up there somewhere Posts: 8,014	Fix Up, Look Sharp how much money do you invest on a monthly basis? i need to start banking some into mutual funds. i want to retire early.

03-12-2005, 11:23 PM	#2
Nimrod's Son Master of Karate and Friendship Location: in your butt Posts: 72,943	7% of gross. Company partial match __________________ - Nimrod's Son: Problem Solver!

03-12-2005, 11:26 PM	#3
phaedrus Minion of Satan Location: up there somewhere Posts: 8,014	is that pretty typical? i'm just graduating and expect to have a lot of expenses over the next few years (rent, furniture, entertainment, maybe car) so i that seems pretty high for me at this point.

03-12-2005, 11:47 PM	#4
wally cibohplaicos Posts: 10,310	even if it's a very small amount, putting aside something every month in some sort of retirement account is the best way to go at a young age.