Hi, im a 23 year old army soldier whos serving in iraq. I have been very bad with my money but thats gonna have to change because im getting married when i go on leave. Im thinking about putting money away, like a retirement plan or something. Can anyone name programs that i can do to start saving up now? Thanks
2007-02-16 09:06:44 · 5 answers · asked by noname 2 in Business & Finance ➔ Personal Finance
Start saving at least 10% of your income right now. Open an IRA or similar account and start an automatic savings plan. Learn to live without this money and let it grow in investments. I recommend growth funds at your age. Call up Fidelity or Vanguard to get yourself started.
Get financially intimate with your fiance right now. Lay everything out and start developing a plan for retirement, house, family, and your life goals. Her habits may be worse than yours. A significant portion of divorces in our nation are attributed to arguments over money. That is not to scare you, but just to give you a heads up. Learn to talk about these things openly with your wife to be.
If you want to get a full financial 101 lesson, I recommend picking up Personal Finance for Dummies.
If you want to find out what you may need for retirement specifically, there is a 40 year investment calculator at the link below. Plug in your age, investments, and it will tell you what you could have at any given time within the next 40 years.
Good luck and God bless soldier!
2007-02-16 09:24:35 · answer #1 · answered by Ethan 3 · 0⤊ 0⤋
I just download this free ebook from Smart Money describing how not to outlive your saving before you retire. How to save and invest so you and your spouse will be able to live your golden years comfortably. I downloaded it and learned some really useful advise. Download today and read the advise offer here its free and you will be happy you did. http://goo.gl/2QiziC
Good Luck to you
Lily
2014-07-07 13:32:07 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You can go with IRA plan for tax-free growth or on a tax-deferred basis.
2016-05-26 02:06:31 · answer #3 · answered by Manish 1 · 0⤊ 0⤋
Open a brokerage account at TD Ameritrade and then drop me a line.
I will help you for FREE.
Top 4 Answerer.
2007-02-16 09:30:15 · answer #4 · answered by Anonymous · 0⤊ 2⤋
Roth IRA's are good
2007-02-16 09:15:03 · answer #5 · answered by just peachy 6 · 0⤊ 0⤋