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Another young'n with saving on the brain
08-01-2006, 09:04 AM
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#1
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Confused about dryer sheets
Join Date: Aug 2006
Posts: 4
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Another young'n with saving on the brain
Hey y'all, my name's Ryan, and, well, this board's been taking up a heck of a lot of my free time lately.* I always get a kick out of what you all say you do now that you're ER, and it's given me a definite goal to shoot for.
Right now I'm 24, in the Marines, and *looks at watch* actually deploying overseas tomorrow, heheh.* I look at it as a chance to save a lot of money, as I refuse to buy worthless things from the PX on base.* Plus it's a lot easier for me to save when I have the money pulled straight from my paycheck and into investments before I even see it.
I'm constantly thinking of things that I want to do, especially after 35, often with so many ideas my head hurts and I get frustrated.* But they all have the one thing in common that I don't want to have to worry about working, especially in a high stress, no fun job, while I do what I really want.* Or at least start crossing off things on my list, heheh.
$12.5 k in Waddell & Reed mutual funds/Roth and 2 k in savings...but we all gotta start somewhere!
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Re: Another young'n with saving on the brain
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08-01-2006, 09:24 AM
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#2
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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Re: Another young'n with saving on the brain
Welcome Ryan. You are on the right track, but do yourself a favor and find something better and cheaper that W&R funds.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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Re: Another young'n with saving on the brain
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08-01-2006, 09:33 AM
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#3
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Confused about dryer sheets
Join Date: Aug 2006
Posts: 4
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Re: Another young'n with saving on the brain
Huh...I'll tell ya what, that'll teach me to not do my homework beforehand and just trust my mom 
Thanks a lot for the advice...my advisor never really did talk about fees...
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Re: Another young'n with saving on the brain
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08-01-2006, 09:34 AM
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#4
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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Re: Another young'n with saving on the brain
Check out Vanguard.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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Re: Another young'n with saving on the brain
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08-01-2006, 09:42 AM
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#5
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Full time employment: Posting here.
Join Date: Feb 2006
Posts: 784
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Re: Another young'n with saving on the brain
Welcome, Ryan... 24 here too, although unfortunately I'm not killing any terrorists! 
There are a lot of things to do when you're not busy winning bread, aren't there? Glad to see you here, I hope you stick around, and be safe overseas!
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Re: Another young'n with saving on the brain
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08-01-2006, 10:10 AM
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#6
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,860
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Re: Another young'n with saving on the brain
 Quote:
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Originally Posted by jmcconnor
Right now I'm 24, in the Marines, and *looks at watch* actually deploying overseas tomorrow, heheh.
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Welcome to the board, Ryan. Hang in there on the deployment, and I hope you're able to keep in touch.
Speaking of low-cost funds, max out the TSP... your advisor doesn't make any profit there. And if you're deploying to a combat zone, consider taking advantage of the Savings Deposit Program for a straight 10% return.
__________________
*
Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
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Re: Another young'n with saving on the brain
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08-01-2006, 04:05 PM
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#7
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Full time employment: Posting here.
Join Date: Mar 2006
Posts: 757
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Re: Another young'n with saving on the brain
Good for you starting to invest at 24! That's how we accumulated 4 million by the age of 52, even though we made very low salaries. Of course there were some very good years in the stock market and who knows if some of that growth will occur again---but you're on the right track.
And if you think working isn't great now, it's even worse in your forties and fifties if you don't have a job you enjpy....
__________________
“It is not a sign of good health to be well adjusted to a sick society”.------Krishnamurti
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