Best retirement strategy?

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Other than my work 401k that they are matching...What should I get in to?

Im in my late 20's.


My buddy said to get in a "Indexed Universal Life" policy...Anyone confirm that as a good investment?
 

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Handicapper
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Some times the how is just as important as the what.

Make sure you take advantage of all you tax sheltered options.

IRAs.

Do you have them?
 

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You need to get that PM I sent about the 5D $. If I give you $600 in PP then you take that and invest it in SPY for an 8% annualized return over 34 years

You would have $8,200.
 

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You need to get that PM I sent about the 5D $. If I give you $600 in PP then you take that and invest it in SPY for an 8% annualized return over 34 years

You would have $8,200.


Sorry man the 5d $ was gone before you replied.

SPY? Sorry for my ignorance on the topic, is that 8% guaranteed?
 

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Other than my work 401k that they are matching...What should I get in to?

Im in my late 20's.


My buddy said to get in a "Indexed Universal Life" policy...Anyone confirm that as a good investment?
SPY is great advice. Dollar cost average into it through ups and downs. Don't ever panic. Don't ever get too ebullient. Just be disciplined and constant. Don't listen to the doom and gloomers. Don't listen to pie in the sky guys. Don't get greedy. Also, if you can, dollar cost average into aggressive small cap fund, large cap fund, Emerging markets fund. DIVERSIFY. Try and set yourself up so that whatever sector of the market is winning, you'll have some of that winnings. And if a certain sector tanks, you won't get hurt too much.
 

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Other than my work 401k that they are matching...What should I get in to?

Im in my late 20's.


My buddy said to get in a "Indexed Universal Life" policy...Anyone confirm that as a good investment?


Insurance is an expense, not an investment. Your buddy's advice is not good.
 

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Oh yea I overlooked that .

Do not get that whole life insurance policy. Worst advice ever.
 

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Insurance is an expense, not an investment. Your buddy's advice is not good.

I am not so sure it is this cut and dry as it can be quite useful in some areas if you are on the positive side of pay out vs pay in. If your family receiving benefits is important to you then I do not think it is a complete waste of money, but yes insurance is an expense.


-murph
 

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I am not so sure it is this cut and dry as it can be quite useful in some areas if you are on the positive side of pay out vs pay in. If your family receiving benefits is important to you then I do not think it is a complete waste of money, but yes insurance is an expense.


-murph

Yes it's cut and dry with no exceptions. They all suck 100% of the time
 

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Yes it's cut and dry with no exceptions. They all suck 100% of the time

I may have not explained what I meant better. I simply mean if you could predict death or dismemberment or job loss or any other insurance payout it would be a largely net positive result based on paying in. The fact that we cannot forecast or predict when that will happen is why it is a bad "investment", but it still holds value every day if paid out prior to when it evens out which could be 5-20 years later depending age/other. I will say that for majority of people it is an expense and not a net positive which is why insurance is profitable, but we all do pay for car insurance, home owners insurance, and medical insurance so we technically have these expenses anyway as a part of every day life.

If we could predict our untimely demise of any of these expenses, we either wouldn't need insurance or it wouldn't exist--probably the latter...


-murph
 

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Just get term life and invest the difference
 

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Sorry man the 5d $ was gone before you replied.

SPY? Sorry for my ignorance on the topic, is that 8% guaranteed?

All good bro.

SPY is just a low cost index fund that covers the entire market. It should do OK long-term, however, nothing is guaranteed in this crazy mixed up world.
 

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BUY A HOME AS AS WELL (rental property if you don't have to live in it).... and pay it off as quick as possible, but by retirement..
Living rent free in retirement will help.
And many who bought decades ago have seen quite the return.



** if possible marry into a good family and hope for a nice inheritance as well.
 

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Save more than you spend
or
Make a shit load of money
Buy Low...Sell High
Get Lucky
 

New member
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BUY A HOME AS AS WELL (rental property if you don't have to live in it).... and pay it off as quick as possible, but by retirement..
Living rent free in retirement will help.
And many who bought decades ago have seen quite the return.



** if possible marry into a good family and hope for a nice inheritance as well.


Terrible advice with the rates today
 

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