something pretty important. If you are less than 25 and you put away
$200 a month into a mutual fund, not considering you will ever
increase that amount, you will be almost certain to have a million
bucks by age 65! And since you won't be stupid, you will probably
contribute more-- the older you get, the more money you make, the more
you stock away. It is probably best that you start and no nothing
about finance. The more you know, the more you can mess up. Just let
it come straight out of your account, no questions asked, and when you
get older, you will have more than enough to buy a shiny new ferarri!
Or something more responsible of course...
Have questions? Just ask.
P.s I am not authorized legally to give financial advice, so take this
as a small guide to get you familiar
3 comments:
what if i want to be rich before i am too old to enjoy the money?!?! come on.... 65? so when i retire i can put myself in an extra fancy retirement home? what if i want to have more money before i am about to kick the bucket?
Dear Mr. Rahul's Financial World,
I am a 22 year old male and so far (reading from your first blog entry)I am not following your financial advice. I simply don't agree with your premise: I do not want a million dollars when I'm 65. I would like some money, but not a million. However, I would appreciate your input on the question that the Beatles have posed to us:
When I get older losing my hair
Many years from now
Will you still be sending me a valentine
Birthday greetings, bottle of wine?
If I'd been out till quarter to three
Would you lock the door?
Will you still need me, will you still feed me
When I'm sixty-four?
Yes, advice to answer the Beatles would be much appreciated. Thank you. And, good luck with your endeavor.
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