(no subject)

[velvetechos]

A twenty-five year old women who makes 35,000 a year, and sticks twelve percent of her income (that's just a measly one percent a month) into an IRA account, will have over one million dollars saved up by the time she retires.

Comments

[warlockuk.livejournal.com]

It's one percent per month total, but it's still 12% of her month's pay.

Also, why would they want to fund the IRA? ;^)

[velvetechos.livejournal.com]

I was wrong *opens article*
It's actually a 27-year old woman, making 30,000 a year (even better!!!!) will have 1,742,467 by the time she's 65. This is without ever getting a raise.

Why fund the IRA? Because my country sucks, and we're all paying social security right now, but my generation is never going to see social security, I'd rather save up, so I CAN retire, than wait around, banking on the stupid government to help me out in the end.

[warlockuk.livejournal.com]

That's if she can maintain employment for 38 years. Worse yet (over here) if you save that money and then are unemployed social security won't help with mortgages or anything because you have savings.

Also, by IRA I meant the terrorist organisation that has been bombing us for years that the US has armed for well over a decade. :)

[ghobhlin.livejournal.com]

I have decided that I seriously must look into investment options...

[velvetechos.livejournal.com]

hey, never a bad idea. My favorite is wells fargo sharebuilder, just go to http://www.wellsfargo.com and go to the investing center, and click on sharebuilder