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Old 05-23-2014, 07:37 AM
 
Location: Central Massachusetts
4,800 posts, read 4,862,845 times
Reputation: 6379

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If You're Under 40, Stop Optimizing Your Retirement Plan and Just Save | Life Hacker India

Many of you might go, "Another Golfingduo post on retirement planning". Yeah absolutely. I have said many times it is important to get the right investments. I do not deny that is important. I do though stress that just as important to where the investments are that you begin. The sooner that happens the better. The link above says exactly that. "Do not stress over the investments as much as stressing out on finding the money to put away." The point being made here and I will quote

Quote:
As finance blog Financial Uproar points out, a lot can happen in a few decades. If you're 30 and planning to retire at 65, you have the same amount of time to wait until that point as there's been since the first Star Wars movie came out. In that past 35 year time period, there have been five recessions in the US. For this and a variety of other reasons, "optimizing" your retirement plan is almost impossible:
It goes on to further say that no matter what you do it will change over the time. So many people try to cherry pick a fund or even try to time the market. It is not possible to be right all the time. Also by the time you make your decision to switch a particular investment out the lag will cause you to lose more then you bargained for. Also making a switch after the market drops is a sure fire way to lock in those losses. Then recovery from that loss is difficult to next to impossible.

So please from me to you if you are here thinking about it, dont just think. Start your savings. Get your employer to start a 401k. Help them if they are interested. It will be beneficial to you and your coworkers.
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Old 05-23-2014, 08:09 AM
 
Location: Northern VA
513 posts, read 635,597 times
Reputation: 621
golfingduo - spot on advice as usual!
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