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Re: When is everyone planning to retire? Using IRAs? 401k? Self-directed investing?
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NBA Legend and Hall of Famer
Re: When is everyone planning to retire? Using IRAs? 401k? Self-directed investing?
I gave my step kids the advise I would give anyone...
Roth Ira is the best / pay the tax's and reap the benefits when you need the cash.
401's a solid , but be flexible --- if you have guts gamble and go in high risk.... rewards are high.
And lastly - look at the economy --- lumber prices are sky high , if you invested in public saw mills like Weyhauser and the other two , you will
be profitable.
use a consoler to educate you !!
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The Sheriff
Re: When is everyone planning to retire? Using IRAs? 401k? Self-directed investing?
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GSW Fan Since the 90s
Re: When is everyone planning to retire? Using IRAs? 401k? Self-directed investing?
Originally Posted by FreezingTsmoove
Going all in on Ankr
ANKR down about 50% since you posted this.
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The Bearded Menace
Re: When is everyone planning to retire? Using IRAs? 401k? Self-directed investing?
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Red Nation
Re: When is everyone planning to retire? Using IRAs? 401k? Self-directed investing?
Originally Posted by Shogon
Even if you have $20,000,000 in the bank... don't ever retire
If I had $20,000,000 at my young age, or even when I hit my mid 30s, I would retire without hesitation. Imagine the amount of extra money you can make every year if you put the $20,000,000 into high yielding dividend stocks. On average, people who make money from dividends will see about a 2.5-4% return every year. Let's just you earn 3% from the $20m every year. That's 600,000 a year, not including taxes. And that's not even taking into account how much those dividend stocks will grow over time, which would give you a higher return every year for 3%. With that kind of money, me and my family could easily live an insanely good life without ever having to work again. No ****ing chance I'd waste my time still working if I had that much in the bank. I'd spend my time travelling, chilling at home, enjoying my hobbies, and overall just spending lots of time with family and friends.
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Re: When is everyone planning to retire? Using IRAs? 401k? Self-directed investing?
If I go by priority
1. Free money - max out matching 401k if available
2. Growth - max out Roth IRA
3. Tax advantage - increase 401k contribution above matching
4. Taxable brokerage accounts
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