Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Late Start But I'm Excited to Be Getting Started
Old 11-22-2015, 06:41 PM   #1
Confused about dryer sheets
Join Date: Nov 2015
Posts: 2
Late Start But I'm Excited to Be Getting Started

So happy I found this message board! I really need a financial family. haha

I'm really hoping to receive some guidance while reading a lot of what is already available. 32 years old, run my own online business with my wife (we've been married for 10 years). No Debt, 6 month emergency fund, but not one penny set aside for retirement. But ...

We are planning to FINALLY start putting money away January 1st 2016 towards our retirement. Not exactly sure what we are going to do quite yet but we'll have around $10,000.00 to get started and should be contributing another $25,000 in 2016. That is the goal right for next year. But the long-term goal is to retire in our late 40's (we have around 15-19 years to complete this goal).

But we are not 100% on where we should start. We have a TD Ameritrade taxable account right now but not sure if we should go with: ETF's, Dividend Stocks, or just let a company manage the money.

We are not sure where to start but I will for sure be asking/reading around as we prepare for our new financial plunge. Any information would be great!

But here is my first post, my introduction! haha

Any input would be great! Thanks in advance!

PizzaMoney is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-22-2015, 06:51 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Midpack's Avatar
Join Date: Jan 2008
Location: NC
Posts: 15,668
Welcome aboard. You're not late, many here started later and retired early successful. And there are a lot of unavoidable expenses in your 20's while you're getting established. To retire in 18 years or less, you'll have save a lot, spend less in retirement or both. The same trade off everyone faces...

No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57

Target AA: 40% equity funds / 35% bond funds / 25% cash
Target WR: Approx 2.5% Approx 20% SI (secure income, SS only)
Midpack is offline   Reply With Quote
Old 11-22-2015, 08:19 PM   #3
Thinks s/he gets paid by the post
Nodak's Avatar
Join Date: Feb 2010
Location: Cavalier
Posts: 2,317
Welcome. I started a couple of years later than you.
"Don't take life so serious, son. It ain't nohow permanent." Pogo Possum (Walt Kelly)
Nodak is offline   Reply With Quote
Old 11-22-2015, 09:37 PM   #4
Recycles dryer sheets
Join Date: Nov 2014
Posts: 149
Welcome to the board, Pizza! You'll find lots of great threads and topics here. For some structured guidance, check out the Bogleheads wiki:

The kids used to call me Captain Slow; now they also use Captain Cheap. I tell them, "Talk to the portfolio!"
growerVon is offline   Reply With Quote
Old 11-23-2015, 07:13 AM   #5
Full time employment: Posting here.
Join Date: Nov 2008
Posts: 728
Do you have a 401k available? If not you should start a IRA. Go cheap and learn how to manage your own money.....look at ETF and index funds..... the cost of others managing your money comes directly out of your pocket. Vanguard is where I would start.....get some need to learn a balance between stocks and bonds. It's all on the internet.....someone suggested it. After you have saved during the next year or two, your options, having 35k will be far better. Just you'll accomplish your goals.
jerome len is offline   Reply With Quote
Old 11-23-2015, 09:00 AM   #6
Full time employment: Posting here.
Join Date: Jul 2014
Posts: 765
Welcome! I echo the advice from people earlier in the thread - watch the fees on your investments carefully. Over decades, even a small fee difference can really add up.
Katiek is offline   Reply With Quote
Old 11-23-2015, 03:37 PM   #7
Walt34's Avatar
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 21,053

Suggested reading:

Millionaire Teacher by Andrew Hallam

A Random Walk Down Wall Street by Burton G. Malkiel

Your Money & Your Brain by Jason Zweig

The Millionaire Next Door by Thomas J. Stanley and William D. Danko It is a bit dated but it is a classic for a reason.

Predictably Irrational by Dan Ariel

How a Second Grader Beats Wall Street by Alan S. Roth

Suggest you start with Millionaire Teacher and How a Second Grader Beats Wall Street. Both are great for new investors and emphasize the importance of keeping fees low over time. That makes a huge difference in what you get to keep.

If you don't do anything else then at least open a target date fund at Vanguard and contribute a lot regularly.
I heard the call to do nothing. So I answered it.
Walt34 is offline   Reply With Quote
Old 11-23-2015, 05:06 PM   #8
Recycles dryer sheets
Join Date: Jan 2015
Location: Toronto
Posts: 185
The best time to plant a tree is ten years ago.

The second best time is today.
Davis65 is offline   Reply With Quote
Old 11-23-2015, 07:18 PM   #9
Full time employment: Posting here.
Join Date: Apr 2015
Posts: 903
Since you're self-employed, aside from the IRA, I believe you're also eligible for a Solo 401k. That should allow you to shelter more pre-tax dollars.

Since you plan to retire in your 40s, don't forget to save a significant chunk in taxable accounts and maybe Roth, too.
hnzw_rui is offline   Reply With Quote
Old 11-26-2015, 11:52 PM   #10
Confused about dryer sheets
Join Date: Nov 2015
Posts: 2
Thanks so much for all the positive comments & tips! I'm excited for this journey and excited to watch others do the same. Thanks again!

PizzaMoney is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
28 looking for advice... late start kikechico Young Dreamers 51 05-30-2020 12:02 PM
Company IPO'ing, but just not excited LoneAspen FIRE and Money 9 12-03-2013 01:03 AM
Turning 30, Getting married and getting started. Coderguy Hi, I am... 22 07-20-2010 03:09 PM
Anyone have trouble getting the spouse excited about ER? cardude Life after FIRE 23 12-31-2007 07:01 PM
Late Start?  You can Still Retire Early. R.H. Young Dreamers 8 11-13-2004 10:20 AM

» Quick Links

All times are GMT -6. The time now is 09:21 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.