Super Savers

[REWahoo]

I wonder if either of these two engineers post on the forum?

http://money.cnn.com/2006/03/31/pf/saver_parker/index.htm

 

[azanon]

They invest only enough in the Thrift Savings Program for federal employees to receive the full employer matching benefit, the rest of Michelle's salary funds two Roth IRAs and any income left over gets invested in the stock market.

That last part is the only place they're going wrong.  You just cant beat those TSP funds.  Not only are they index, and given Traditional IRA like benefits, but also the expense ratios are like 0.02%!   On top of that, if you enter federal service at 25, you can leave at 55, and have full access to the money then, and not have to wait until 59 1/2.   Or heck, you might get offered an early out as early as age 50, and have access to it with no penality.

They should be maxing those before investing in the stock market.  The Roths are great though.  Good move there.

TSP funds > all!   

 

[saluki9]

These folks might qualify too

http://money.cnn.com/2006/03/22/pf/millionaire/turner/index.htm

 

[maddythebeagle]

Not to nitpick, but $86,000 doesnt sound like a lot in savings at their age for having 2 incomes even with the student loan payout. Must have just caught the frugality bug recently.

 

[azanon]

Not to nitpick, but $86,000 doesnt sound like a lot in savings at their age for having 2 incomes even with the student loan payout. Must have just caught the frugality bug recently.

Yeah, i agree. Even I have more than that, and my SO and I are about the same age (34, and 32). My story is I saved early enough, but I just got my ass burned in the Y2K tech stock meltdown.