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Invisibleunknown1123
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Registered: 05/15/08
Posts: 5,813
New to investing
    #14184282 - 03/25/11 09:53 PM (12 years, 10 months ago)



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OfflineGroovy Grant
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Registered: 07/31/00
Posts: 6,635
Loc: TX Flag
Last seen: 16 days, 18 hours
Re: New to investing [Re: unknown1123]
    #14185976 - 03/26/11 09:28 AM (12 years, 10 months ago)

You've got to start somewhere. If you never even put that $100 aside, you'll never have any investments. So, as the old sayings goes 'A journey of a thousand miles begins with a single step'.

I think most people think because they never have a large sum of money, that they shouldn't invest. I'm not sure why this is, but starting with a $100 a month, for 5 years, without compounding or interest, you'd have $6,000. Do that for 50 years, you have $60,000. Throw in interest and dividends, and that begins to look like a lot of money.

Start now, and keep it up. Even if it's small amounts.

Here this should scare you:

"If you’re worried that you haven’t saved enough for retirement, you’re probably right. Most of us haven’t. In fact, the Employee Benefit Research Institute found the majority of American workers had put away less than $25,000 for their golden years."

source: http://finance.yahoo.com/retirement/article/112417/homeowner-no-savings-some-options


Who do these people think are going to take care of them? Social Security isn't enough to live off of, if it even exists when many of us retire.


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