Retirement....hehe

Autothrust Blue said:
Something that this generation will not materially be able to do.
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I disagree with this wholeheartedly. Don't just put your money into "professionally" managed funds and hope you have money when you retire. People need to take an active role, and to me, that means learning how to invest and trade.

I'm not talking about being a day trader necessarily (though you could do that), but rather learning how to read the markets and make decisions based on what they're telling you. This takes time. This also takes a lot of effort. More effort than most people are willing to put in, in fact. They think they can simply buy a trading system or look over P/E ratios and balance sheets. The reality is much more difficult, and that initial failings are an important part of the process. Most people have the initial failings and simply quit, claiming that the whole thing is rigged.

Don't be in that group. It's beatable, and as a guy finally finding consistency through my own ongoing successes and failures, I can tell you that this is doable long-term. Our generation simply needs to get off the PS3 and work for it.
 
I'd say the key thing to planning for your own retirement is to actually plan for it - and do it early.

Actually, more key than that is not engaging in self-defeating loser talk. If you say and believe you won't be able to retire and blame that on them, I guarantee you'll be right. Except the them part. If you fool yourself into thinking it's okay to just spend your whole paycheck every month because "hey, I won't succeed at saving anyway - might as well live for now!" - then you've got no one to blame but yourself.
 
dasleben said:
I disagree with this wholeheartedly. Don't just put your money into "professionally" managed funds and hope you have money when you retire. People need to take an active role, and to me, that means learning how to invest and trade.

I'm not talking about being a day trader necessarily (though you could do that), but rather learning how to read the markets and make decisions based on what they're telling you. This takes time. This also takes a lot of effort. More effort than most people are willing to put in, in fact. They think they can simply buy a trading system or look over P/E ratios and balance sheets. The reality is much more difficult, and that initial failings are an important part of the process. Most people have the initial failings and simply quit, claiming that the whole thing is rigged.

Don't be in that group. It's beatable, and as a guy finally finding consistency through my own ongoing successes and failures, I can tell you that this is doable long-term. Our generation simply needs to get off the PS3 and work for it.
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My opinion only, but I don't think you even have to do all that. It's awesome that you do, don't get me wrong - but I think long-term success can be had with a much lower level of investing savvy than people like you or mikecweb have.
 
Ian J said:
My opinion only, but I don't think you even have to do all that. It's awesome that you do, don't get me wrong - but I think long-term success can be had with a much lower level of investing savvy than people like you or mikecweb have.
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I'm sure you're right; there are many ways to make a buck. The key is to at least get to a point that you can do it consistently, however way you do it.
 
There are many ways to plan for the future, but you have to define some realistic goals and then you can work backwards to figure out what you need to be doing today to get to where you want to be in 20-30 years. Not everyone is going to get to quit their job at age 60, live in a beautiful home, and travel internationally multiple times per year. I would also argue that very idea of "retirement" as being this golden age when you get to quit work and play is flat out stupid and socially detrimental. Even if you disagree with me on that, you still need to know what your goals are or there is no way to form a plan to get there. You do not need to be a stocks, bonds, futures, currencies, or real estate expert... but you do need to think about your plan and then have the discipline to do it and stick it out for the long term. Find people who actually know what they are doing and learn from them.



"Don’t take financial advice from broke people."

"A big part of being strong financially is that you know where you are weak and take action to make sure you don’t fall prey to the weakness. And we ALL are weak."

"My financial life began turning around when I took responsibility for it."

-Dave Ramsey
 
mikecweb said:
Depends on if this forum is searchable on the google.
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Lets hope not!
Seriously, I've made fairly good financial moves over the years. I'm no spring chicken and at my age one has either planned ahead or is struggling to catch up.
 
mikecweb said:
But at least we won't count on a pension that will be taken out from underneath us. We have the time to plan our own retirement through other means. Time is on our side.
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I'm not sure if that comment was tongue in cheek or not.

If it wasn't then you, my friend, have believed the lies that have been sold to you wholesale from the super elite who stole our pensions.

Read the book Retirement Heist by Ellen Schultz. It details how the super elite, by using smoke and mirrors and politicians in their back pocket, have stolen our pensions and basically destroyed much of middle class America.

We work until age 65 and beyond so that the super elite can buy $50 million dollar mansions; $10 million yachts; enjoy a life of leisure travelling the world in their private jets; etc. We're basically serfs. Higher end serfs if you're lucky enough, but serfs nonetheless.

The only way to break out of it is to go into business for yourself and be successful. Since most business start ups fail, that's a pretty big gamble to take. So we keep working as serfs helping the rich get richer. Luckily most of us enjoy what we do and we have a reasonable life compared to many, but it still needs to be recognized for what it is.


Typhoonpilot
 
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