I would say you should probably save away some $$$. Get info on retirement savings plans. In your case you are going to have to save up to invest in your twilight years.
Create Roth IRA’s and put % of your money in their every month. Also when you accrue wealth create a Trust fund and put it offseas in switzerland. That way if you ever get sued no one can touch you money because its illegal for banks to hand over client information. Playing the stock market will also help but leave that upto a portfolio manager. Fidelity’s Vanguard account has performed very well for the past couple years. Believe it or not owning a house is the biggest asset one will ever own. Just be wary of when and where you buy, and dont get an Adjustable rate mortgage with 5% downpayment. If you can’t afford 20% downpayment on a house with a fixed 30 year mortgage then you take on a very big risk of foreclosing.
My goodness I wish there were more people like you out there. So many people think it’s their right to rely on welfare when they are old!!!
I’m 24 and I contribute extra to my superannuation. Each pay I contribute an extra $50. in Oz if you do this the government match what you pay as well, which is a great incentive. Its also great tax wise.
Comments on im 18 but i want to start early planning for retirement whats the way to go ?
Julian
have a regular monthly saving plan. Approach a finanicial planner.
Salvador
Put 10% of your take-home pay in a savings account and do not withdraw it until you are 60 years old.
Aron
check into a IRA account
Penelope
I would say you should probably save away some $$$. Get info on retirement savings plans. In your case you are going to have to save up to invest in your twilight years.
Soren
Create Roth IRA’s and put % of your money in their every month. Also when you accrue wealth create a Trust fund and put it offseas in switzerland. That way if you ever get sued no one can touch you money because its illegal for banks to hand over client information. Playing the stock market will also help but leave that upto a portfolio manager. Fidelity’s Vanguard account has performed very well for the past couple years. Believe it or not owning a house is the biggest asset one will ever own. Just be wary of when and where you buy, and dont get an Adjustable rate mortgage with 5% downpayment. If you can’t afford 20% downpayment on a house with a fixed 30 year mortgage then you take on a very big risk of foreclosing.
Terrance
My goodness I wish there were more people like you out there. So many people think it’s their right to rely on welfare when they are old!!!
I’m 24 and I contribute extra to my superannuation. Each pay I contribute an extra $50. in Oz if you do this the government match what you pay as well, which is a great incentive. Its also great tax wise.