|
|
| *Ostroff, Fair and Company>>>Investing |
How much would I have to invest if I want to retire by age 60? |
I am considering investing in only a 401(k) and and IRA. I would like to know how much should I contribute if I want to retire by age 60(currently 30)? I would also like to know what percentage should I invest in my company stock (Sprint). Thanks for all the suggestions, I am really clueless about all this... You left out a few important facts for anyone to be able to answer this. The most important are 1) How much do you need to live on in retirement? 2) How comfortable are you with fluctuations in the market? 3) Will you have any other sources of income after 60? (traditional pension, inheritance, etc.)? To answer your last question first, be very careful about keeping any of your 401k in your company stock. If your company falters, you may end up losing your job and some of your retirement funds at the same time! The best thing to do is to go to one of the many retirement calculators and start entering numbers for your 'best guesses'. I like the ones at Fidelity: http://personal.fidelity.com/planning/re... Using of these calculators you can change your assumptions and plans and do 'what-if' analysis on your retirement. live life to da fullest. u might not even life to be 60. do what ya wanna with the moneyyy whenever ya want. just dont waste all ur money, :] Hi, i recommand you a good and basic tutorial for investing. it covers all Issues related to your Investing and everything around it. http://www.investingtutorial.info/... wish it will help you. Good Luck , Best Wishes! If you want to live the $30,000 a year in today's income You will need to have $97,000 just to pay off that one year. If you live to be 95, it'll cost you $384,000. My guess is you will need to sock away $7,000 a year to achieve that lifestyle based on 12% average growth which is the historical average of the SP 500. You should never put money in one company for 30 years because few company's grow for that long. Go for an index based on the SP500, the SP 400 and or Russell 2000. depends on your income and market return - check this tool out http://www.bankrate.com/gookeyword/calc/... http://www.deal-save-online.com/investme... sorry, no hard and fast numbers here, but I do well on tax free munis. I'm 56 and haven't worked in four or five years. Yeah, I socked every extra buck into them, but luckily with a pretty good inheritance I was able to quit working. Blows my mind how Yahoo Finance really concentrates on stocks... always blames everything on something the gov does... I sleep well on my munis,,,, they fluctuate about a dollar a year, if that, and I still get my income. |
| Tags |
| Renting & Real Estate Personal Finance Investing Insurance Credit |
Finance Categories--Copyright/IP Policy--Contact Webmaster |