Thank you for all this great information, JR. It was very valuable for me to read because (whether or not I should admit it, ) I'm more of an "in the moment" kind of person. I see what we're doing now with things like real estate and gold, and it's "yeah, doing great, all's well" without much thought to whether it will be well years from now. Stocks, bonds, annuities... haven't given most of that a second thought. A retirement fund exists but isn't very healthy right now. Probably well past time to get some education about these other things.
I think that in a realistic perspective we should indeed worry about our retirement because the state won't give us anything, but most of my winnings are for day to day expenses, so I really don't know how I can start such a plan.
I know that feeling very well, Gelsemium. For me, there was no starting *any* kind of plan until we took care of the debt. That was of the credit card variety and it's like a cancer. We were never even frivolous... it was things that were needed to make it month by month. But then with the heavy interest kicking in, it turned into a nightmare. Once all that was paid off, though, I was able to set up a plan that allowed for investing... and it happened a lot faster than I was expecting. Oh, another thing I've heard helps a lot of people is getting rid of non-essentials. (Landline phone, fancy schmancy smart phone plans when a basic cell would be fine, cable, etc.) No idea if any of that would benefit you, but I've heard it so often I thought I'd mention it.
I have never thought of any retirement plans, I just take one time at a time, who knows what I willbe like financially when that time comes, for it will go with the way my bank statement s will be looking like.
Let's just hope the state can pull a good rabbit out of the hat eh? Haha! No way, my parent's have seen their pensions being cut year after year, so nothing good will have, the stock market is looking better and better.
Even if I will not reach my billionaire status's milestone upon the age of 70, I will be pleasantly remembering my actions to get there. Being poor wouldn't make me sad, but rather happy.
Now, that's positive thinking, as long as we have what we need, we are good. Don't forget, most times we are the ones that determine what we do need.
I would love to move to Alaska for good. That is if i could have everyone i care about be with me on that but i know that will never happen. So im stuck here with the city slickers.
