Even in this day and age you can realistically obtain at least 2% interest after tax and inflation in a regime of pure passive capital allocation. So you need about 650k to get 30k for 30 years.

Does anyone else wonder if the us dollar will even be around in 40 years when I'm supposed to be retiring?

My retirement plan is a rope and a ceiling

It's called usury brah.

age:28 lol


I haven't read through the thread but I hope this post has been quoted for fail

... You really don't know how the economy works, or how investing works...

Consistent 5%/year returns for the 30+ years of retirement? Are you a unicorn herder?

"Retirement" is pretty much a new idea first introduced in the second half of the 20th century. Also, when social security was first introduced the average life expectancy was only a few years older than the age when benefits starting paying out.

No one intended "retirement" to last for 20-30 years originally, but that's what it's become. Completely unsustainable setup tbh.

start a company / service or product bro, never been easier to learn things or advertising your business. It's just gonna get harder as you get older if you keep waiting. All we got until we die is effort you go out everyday and work hard, do what other's refuse to do , people who sit on the misc do the opposite of them, go out and ask local businesses with no website if they need one, you can outsource the work if you need to. See if people need fences painted, again outsource the work if you need to. Affiliate marketing, reviewing products

What good books do you recommend to learn about the economy and investing?

lolololol. are you trolling me

I add, the 2% interest compounding also applies to the progressive saving you do over time, so in the end you really just need to save up an average of 15-16k dollars per year for 30 years to get 30k for 30 years at retirement. It's still a lot but not otherworldly at all.

wtf is all this 401k roth stuff?

Whats the Australian equivalent for this

Also what should I invest in when the market crashes

reps for good answers

Pretty much setup to retire right now if need be. Passive income with a partner in a it startup, reliability for years to come.

Very comfortable setup currently, I'm really glad I got it out the way before my 30's.

It's really about entrepreneurship, you'll never get rich working for someone else.

You do realize a TFSA isn't just for savings accounts right? You can invest it just like you would with an RRSP

Roths and 401ks are tax-free retirement funds. You can either put money in or take money out without paying any taxes, as long as you save it till you're at least 59 1/2. You get ****ed hard if you don't save it till then, because you have to pay taxes on it plus a penalty (I believe it's 10%). But it allows you to go decades without paying taxes on a pretty substantial sum of money. Don't know what the Australian equivalent is.

When the stock market crashes, you get buying **** if you've got cash. If you've got money invested, don't panic-sell, just take the loss and keep holding on. In general, you should just buy and hold for retirement. Don't go all Wolf of Wall Street and ****, because losses are hard to replace. Say you gamble on some security with 100K and lose 50%. Now with the 50K you've got left, you have to earn 100% just to get back to where you started. And that doesn't even factor in the money that 100K could've been making for you instead.

Invest conservatively. A lot of people just buy index funds. In the US we've got the Dow, the S&P 500, and the NASDAQ, which are just listings of big-name and fairly stable companies. Generally low-risk money makers. Just buy one of everything from those guys and follow the market up long term. There are active managers who will make "smart investments" for you and charge you a percent or two of your returns. But a lot of times these guy's returns don't beat out the index funds plus their own fees.

Most investments besides stocks are pretty much worthless these days. Bonds are a ****ing joke. I believe Germany has negative interests rates right now, which means you need to PAY the Germans for the privilege to take YOUR money. Bank interest is measured in hundredths of a percent. CDs are pathetic. The only other thing I'd really consider would be real estate, but I've heard that Australia's real estate market is super ****ed up.

Truthfully, I haven't read any - outside of Wealth of Nations by Adam Smith. Most of the stuff that I've learned has been from my finance class back in college, reading posts online or through investment websites. I really don't know too much beyond the basics when it comes to investing.

I want to get into dividend investing as a part of my investment portfolio. I don't expect too much, but better return than just have that money sitting in the bank.

I have RRSP, TFSA, several mutal funds & investment portfolios. I pay people to manage my money.
Dumped roughly 190k into the above funds & I am set to retire at 50, since I contribute twice a month to my retirement as well.

Yeah, **** banks.

How did you learn so much about finance/economics/investing?