Talley wrote in post #18842102
I'm turning 37 in July and my retirement is really the only thing I want to be strong with for the remainder of my working career. I feel the same way. I wish I got savvy back in my early 20s. I have a friend who did and he continually remarks about retiring at 55 with about 3m in investments.
David Arbogast wrote in post #18842080
I'm not trading for today's income...just working on my retirement investments within my IRA. Options trading is not possible within IRAs, but on the plus side I have a good amount to work with, so playing conservative is still getting me positive gains. Even so there are a few leveraged and inverse ETFs I sometimes trade which have more explosive potential.
I've only been doing this since I dumped Edward Jones in late December for costing me a 20% loss in 2018...been learning as I go. So far so good - recovered much of what was lost, but have lots and lots to learn. Wish I had learned to be market savvy from my youth!
To be fair the S&P Index was negative 6% for the 2018, with -13% or so for the final quarter. The name of the game for most investors should be a strategic buy and hold looking to minimize fees and expenses. A 1% AUM fee or 5% load from funds starts to kill the return over time.
Talley wrote in post #18842102
I'm turning 37 in July and my retirement is really the only thing I want to be strong with for the remainder of my working career. I feel the same way. I wish I got savvy back in my early 20s. I have a friend who did and he continually remarks about retiring at 55 with about 3m in investments.
I think most people in the late 30's wish they could do things better in their 20's. I turned 37 this year as well and after changing jobs and rolling over my 401k, it made me realize how much more it could be if I had contributed more to my 401k. Sure I made the match, but even 5% more would've done wonders. I think to myself that I might be behind the game compared to some, but ahead of the game compared to others, which makes me worry for the rest of the people out there. I read somewhere that 1 in every 3 people have less than $5,000 saved for retirement and they're basically living paycheck to paycheck off of Social Security, which scares the hell out of me. Working in banking for so many years, it terrified me how many people would come in the day after their SS came in to claim their funds and if it was delayed even one day, how much turmoil they went through.