Hi girl's I have a question it's not about my pregnancy or ayilsa or anything serious with my health. But I was wondering I got 2,000 dollars saved up. I was wondering what should I do with it because I have no clue but I was wondering any suggestions..Another thing I already know baby clothes for ayilsa and lots lots lots lots of diapers..But don't know for anymore suggestions i'm thinking of getting jason something but don't know..
*~*maddison and ayilsa*~*
Girls, if there's one thing I cant preach enough, its investment!! If you can save $160 a month in an investment account that draws 10% (which contrary to popular belief, is not hard to do: my mo-in-law earned 26% this year), you'll be a millionaire after 40 years. The earlier the better! If you wait until 10 years from now to start, you'll have to put $440 a month to make it to a million by the same year. If you wait until 20 years from now to start, you'll have to put away $1300 a month to get there! And most of us will still be working in 40 years, so it won't be hard to do , and you'll a million bucks saved up for your retirement by only investing $160 a month!!!
Mike has an ira through work, and we save 10% of our income. Everybody should do it! Save at least $100 a month. Even by the time your kids need college money you'll have $60,000 in the bank or something similar, and only $21,000 of that will be money you put in. The rest will be the return on your investment.
If you start with just your $2000 and do $100 a month, you'll have $72,000 after 18 years at 10%.
Yeah its really easy too. My mo-in-law doesn't know anything about it. She has a financial guy who works for edward jones. And everytime she buys or sells something, he gets a small commission, but its definitely worth it so that you don't have to spend all your time studying which stocks to buy and when to buy or sell, you just trust your guy! And he'll set it up like a bank account. You just make a deposit whenever you want. Just walk in, tell him the plan, and tell him you want something conservative that will earn you an average of about 10% per year over the life of the investment.