Just got pointed this way

[pksublime]

Hey everyone, I just got pointed here from another forum and can't wait to see what wealth of information I dig up on here.
My strongest advantage is that if I want to retire at age 50, I have 26 years to make it happen!

 

[hankster]

Hey everyone, I just got pointed here from another forum and can't wait to see what wealth of information I dig up on here.
My strongest advantage is that if I want to retire at age 50, I have 26 years to make it happen!

Welcome! With a forum like this, there's no need to hire a financial advisor Seriously, this is one of the most civil, informative and enjoyable forums I've ever seen. Glad to have you here!

Hank

 

[mn54]

Hi PK. Welcome to the forum. At 24 years of age you have the greatest asset available to you-- time. Use it wisely with the great advice available here. Don't be afraid to ask questions.

 

[oma]

Hey everyone, I just got pointed here from another forum and can't wait to see what wealth of information I dig up on here.
My strongest advantage is that if I want to retire at age 50, I have 26 years to make it happen!

Care to share how what your plan is? Are you maxing out your retirement plans investments/ROTH? Do you have a pension plan with your employer?

 

[bssc]

Hi and welcome. Well, you have 26 years, which is plenty of time if you have a plan. Look around and see what people have already done, then find what suits you.

 

[pksublime]

My plan

Care to share how what your plan is? Are you maxing out your retirement plans investments/ROTH? Do you have a pension plan with your employer?

Well right now I'm in the middle of a job transition, but I will resume retirement contributions after I get married on 5/31. It's a very hectic time in my life right now, but it will be fine.

My plan at my next job is to fully fund my new wife's and my Roth IRA accounts, and continue her necessary contribution to a Roth 401K account for maximum matching. My new 401K account gets employer contributions as part of the profit sharing plan they have, no employee activity required.

As for pension plans...what are those? Seriously, I've not encountered any company that is still offering them to the incoming workforce.

 

[oma]

This is true about pensions. So many people are able to afford early retirement due to gov't/military pensions. Pensions aren't part of the corp world, anymore, are they?

Good luck on your plan. Would recommend that in addition to your 401k and ROTH, that you live beneath your means, pay yourself first, and enjoy the free/inexpensive things in life. And don't do like I did: buy a new car every 5 yrs. That kills a portfolio.

 

[SteveR]

Welcome to the forum glad you found us. There is indeed a wealth of information available here for free. Take advantage of the wisdom of those that have made it to early retirement...many of whom, have no pension.

One fatherly word of advice, don't stop saving for anything, even if you have to drastically reduce the amount. It becomes far to easy to spend than save, especially when just married or when kids come along.

Make a budget and follow it. Make sure your new wife is "on board" with your desires to save and invest. Nothing is worse than to not be on the same page....personal experience speaking here.

Good luck.

 

[Gumby]

Welcome aboard. If you haven't already found it, look at the Early Retirement FAQ's sub-forum. Due to the hard work of one of our longtime members, some of the best threads on common retirement issues are collected there. A read through will quickly bring you up to speed on some of the most important discussions.