Imagine if your grandparents would have invested wisely

Discussion in 'General Trading Discussion' started by crimsonghost747, Jun 21, 2015.

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    Jun 24, 2015
  1. AtlantaSports

    AtlantaSports Senior Investor

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    It is harder to find places to own rather than places to rent, nowadays. That is really the only issue I see with that school of thought.
     
    AtlantaSports, Jun 24, 2015
    AtlantaSports, Jun 24, 2015
    #21
    2. Jun 24, 2015
  2. AtlantaSports

    AtlantaSports Senior Investor

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    Dude, I would kill for that money right now haha. Being a broke student sucks.
     
    AtlantaSports, Jun 24, 2015
    AtlantaSports, Jun 24, 2015
    #22
    3. Jun 24, 2015
  3. JR Ewing

    JR Ewing Super Moderator Staff Member

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    I know quite a few people who were regular middle class working stiffs who became millionaires and even multi-millionaires simply by putting a little away into retirement investment accounts each paycheck over several decades. Others accumulated well into six figures.

    Those who waited until they got into their 50's before they ever started investing for retirement didn't accumulate a whole lot and had to work longer and often take on a second "career" after "retirement".

    And some who avoided investing for one reason or another will have to continue working until they're no longer physically or mentally able to.

    I also know of people who either got an inheritance, a settlement, or a retirement lump sum that they just put into a deposit account rather than invested in stocks, bonds, or whatever. They all spent that cash money sooner or later.
     
    JR Ewing, Jun 24, 2015
    JR Ewing, Jun 24, 2015
    #23
    4. Jun 25, 2015
  4. crimsonghost747

    crimsonghost747 Senior Investor

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    That is actually the one problem with this whole inheritance thing. When you actually get your inheritance, you don't really need it anymore since you are probably in your fifties or even sixties nowadays and you already have your mortgage taken care of etc.

    I don't know if this is possible everywhere but here people often choose to skip one generation when it comes to inheritance. So they give everything straight to their grandchildren because they are at the age where that extra money certainly helps a lot more and you save one round of taxes this way.
     
    crimsonghost747, Jun 25, 2015
    crimsonghost747, Jun 25, 2015
    #24
    5. Jun 27, 2015
  5. AtlantaSports

    AtlantaSports Senior Investor

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    I completely agree with that first paragraph. Then again, I probably do not have the most insight on what to do with said money, but regardless, I would still be responsible with it.
     
    AtlantaSports, Jun 27, 2015
    AtlantaSports, Jun 27, 2015
    #25
    6. Jun 27, 2015
  6. AtlantaSports

    AtlantaSports Senior Investor

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    Could you give an example of this happening? I haven't actually ever heard of this happening before.
     
    AtlantaSports, Jun 27, 2015
    AtlantaSports, Jun 27, 2015
    #26
    7. Jun 27, 2015
  7. AtlantaSports

    AtlantaSports Senior Investor

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    Nice spam, man.
     
    AtlantaSports, Jun 27, 2015
    AtlantaSports, Jun 27, 2015
    #27
    8. Jun 27, 2015
  8. JR Ewing

    JR Ewing Super Moderator Staff Member

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    Well, if you started with $100 in a tax deferred or tax-free traditional or Roth IRA or 401k on your 25th birthday, contributed $100 every week until you turned 65, and averaged ~ 10% a year over those 40 years, you'd have over $2.3 million by your 65th birthday, assuming you didn't pay any big fees or take anything out during that time.

    You can figure it out easily:
    http://www.daveramsey.com/blog/investing-calculator/#/entry_form
     
    JR Ewing, Jun 27, 2015
    JR Ewing, Jun 27, 2015
    #28
    9. Jun 28, 2015
  9. Penny

    Penny Well-Known Member

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    My grandfather did invest wisely.

    Despite being an illiterate poor coal miner he became a senior union official and made the work place safe enough that he lived to see all his 8 children reach a healthy and prosperous adulthood.

    He imbued in every one of his children a strong work ethic, a distaste for being in debt, and the importance of seizing every opportunity for education, even though it was something he had been denied. He saved every penny so my mother could train to be a teacher.

    Until he died a few years ago he continued to be a model of an honest man, a hard worker, and a good friend, husband, father and grandfather.

    I am now a prosperous middle class executive with a PhD and a balanced portfolio, and I honor, love and revere my grandfather for the treasures he gave me--which did not include so much as one cent of money.
     
    Penny, Jun 28, 2015
    Penny, Jun 28, 2015
    #29
    10. Jul 5, 2015
  10. marcthetrader

    marcthetrader New Member

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    Wow! This is a great subject and thread, I have thought about this topic many times before in my head, my parents nor grandparents invest money in the Stockmarket. I know they both struggled to make a living and feed their families BUT, it certainly can be done. I look forward to reading some intelligent feed back from someone who can suggest where to start and how to stay the course!! Thank You Much
     
    marcthetrader, Jul 5, 2015
    marcthetrader, Jul 5, 2015
    #30
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