U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 04-24-2014, 10:30 AM
 
Location: Central Massachusetts
4,800 posts, read 4,847,776 times
Reputation: 6379

Advertisements

Here we go again, more money tips from me. Okay not from me precisely but 6 experts in the financial field.

Retirement Financial Planning: Money Tips for 30-Year-Olds - WSJ.com

This WSJ article was quite interesting based on the names invovled.

Quote:

It's never too early to start planning for retirement. With this in mind, we asked The Experts: What retirement money tip do you wish you'd given yourself when you were 30?
The experts are:
WILLIAM REICHENSTEIN - a professor at Baylor University
WILLIAM BERNSTEIN - is a neurologist and co-founder of Efficient Frontier Advisors
BUD HEBELER - was president of the aerospace division of Boeing Co
MADDY DYCHTWALD - is an author and co-founder of Age Wave
ED SLOTT - provides retirement education and analysis
MARTIN FROST - served as a member of Congress

Some of the names are well known and a couple are not quite but they are in their own right successful financially. All of them now are involved in retirement planning in someway. What makes this article unique though is what these experts say they wish they had been told. Yes some are preaching that now like the line "Pay yourself first". Start early. Bud wishes he knew more about the reporting requirements or as he put it "Book Keeping Burdens".

Maddy's comments were partly the same lines above but she went on to some of the things we say here to each other in this forum.

Quote:
I'd also advise my 30-year-old self to take extremely good care of my body. And, at the end of the day, it's not the size of your house, your car or your title, it's the people you love and who love you back that matters most. And so that would be a lesson for me: Keep your principles high, keep your heart in the right place, focus on the things that really matter, and take advantage of compounding to invest in your future self.
Her words are really good and we should talk about them. let's see what comes out of this.
Reply With Quote Quick reply to this message

 
Old 04-24-2014, 10:48 AM
 
29,782 posts, read 34,871,258 times
Reputation: 11705
For some of us this is the 300th article and thread. For others it is the first. Most are somewhere between. I find any new kernel that is helpful worth the read! I really loved these when I was thirty.
Reply With Quote Quick reply to this message
 
Old 04-24-2014, 11:14 AM
 
Location: Central Massachusetts
4,800 posts, read 4,847,776 times
Reputation: 6379
You know I wish I had paid more attention in high school too. I do remember a math class that talked about compound interest. The teacher did relate it to saving money and how it accumulated but at 17 who is thinking about what you will live on at age 67, a total of 50 years down the road.
Reply With Quote Quick reply to this message
 
Old 04-24-2014, 11:37 AM
 
741 posts, read 641,613 times
Reputation: 576
How many 30 year olds are participating on this particular forum?
Reply With Quote Quick reply to this message
 
Old 04-24-2014, 04:34 PM
 
29,782 posts, read 34,871,258 times
Reputation: 11705
Quote:
Originally Posted by Longford View Post
How many 30 year olds are participating on this particular forum?
Good question especially since there are many lurkers.
Reply With Quote Quick reply to this message
 
Old 04-24-2014, 05:18 PM
 
14,260 posts, read 23,991,339 times
Reputation: 20072
Quote:
Originally Posted by TuborgP View Post
Good question especially since there are many lurkers.

You MIGHT be surprised.

There are a lot of younger people (aged 15-30) who are extremely interested in personal finance issues, especially if there parents have NOT been very good with their money.
Reply With Quote Quick reply to this message
 
Old 04-24-2014, 09:18 PM
 
5,619 posts, read 8,552,148 times
Reputation: 7705
Quote:
Originally Posted by Longford View Post
How many 30 year olds are participating on this particular forum?
Does 31 count?
Reply With Quote Quick reply to this message
 
Old 04-25-2014, 06:13 AM
 
29,782 posts, read 34,871,258 times
Reputation: 11705
Quote:
Originally Posted by jlawrence01 View Post
You MIGHT be surprised.

There are a lot of younger people (aged 15-30) who are extremely interested in personal finance issues, especially if there parents have NOT been very good with their money.
TY, that's my hunch but I was hoping younger readers might jump in. Many threads are age related but the financial ones tend to cross generations.
Reply With Quote Quick reply to this message
 
Old 04-25-2014, 07:17 PM
 
Location: Central Massachusetts
4,800 posts, read 4,847,776 times
Reputation: 6379
Quote:
Originally Posted by Themanwithnoname View Post
Does 31 count?

Yes. I would lump that number in a group of 25 to 35 as the folks who really need to start looking at putting money away for retirement right now.
Reply With Quote Quick reply to this message
 
Old 04-25-2014, 07:53 PM
 
Location: Haiku
4,081 posts, read 2,574,551 times
Reputation: 6018
The son of our good friends is in college. He saves every penny he earns and invests it. The guy spends hours on the stock market and has done pretty well at it. If he keeps it up I am sure he will be wealthy at some point. But, on the flip side, I never see him going out and having fun, spending money, whatever.

At his age I did not save and spent a lot of time having fun. At this point in my life we are fine - not rich but not struggling either in our retirement, in fact not even close. All in all, I think I prefer the path I took rather than what I see our friend's son doing. I have a lot of good memories from my 20's, 30's, and none of those had anything to do with money.

Saving is good, but it is too bad if young people cannot just be carefree young and not worry about retirement savings.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top