Americans are terrible savers

ThreeD I mock cause I care. You do make plenty enough to be a millionaire. Right now your money is buying pools for the agents kids. You can average 12 percent instead of 2. All you need to do is cut off that thief and pay yourself. Take half of every raise you get to your 401k on top of what you do and BAM!
 
Carlos Spicy Weiner said:
One of my life policies helps an institution to give millions to charity every year, so that one is a given, Top. I happen to like whole life policies. Meanwhile, should I happen to kick the bucket while in the military, a term life policy kicks in and someone inherits $400k.
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Well I have one of those too and I have another for ADD so if I get ran over by an UPS truck the old lady gets 900,000 but that isn't exactly what I would call an investment or savings thats what I call.....uhhhh...insurance.

I do have some small amounts in stock that I bought at rock bottom prices. There were three major chemical companies that were undervalued a few years back that I invested a grand in and I'm very pleased with that investment and I invested in Ford when they had dropped to like $1.89 a share. All in all though I've only invested a few thousand in stocks (not including my 401K) and I've turned that couple of grand into over 5 grand.

I remember telling Topper abut Ashland Chemical a few years back when they were under $5 a share. He thought they were a dog. They're now at $61/share. I bought 100 shares for around $500. Wish I had bought more. I'm tempted to sell but with their expansion into the Chinese and South American markets I sense that a split might occur so I'm holding on to it. The only reason I made that ivestment though is that I'm a chemical industry insider and had done a lot of home work and new that some of the major chemical companies were way undervalued by Wall Street (most notably Dow, DuPont and Ashland). I bought $500 worth of Ford Stock in 2009 cause it was under $2/share and I didn't think it would stay there. Topper told me it would be a Dog, he's been kinda right. It's at about $2.80 a share so I've made about a buck a share. Nothing to write home about but I haven't lost money either.
 
The Dude said:
ThreeD I mock cause I care. You do make plenty enough to be a millionaire. Right now your money is buying pools for the agents kids. You can average 12 percent instead of 2. All you need to do is cut off that thief and pay yourself. Take half of every raise you get to your 401k on top of what you do and BAM!
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Ive been doing that and I also increase my contribution by 1% a year and I'm going to continue to do that until I hit the max or I notice it in my standard of living. I was sweating bullets in 2008 and 2009 but 2010 was aight and 2011 was a good year! I gained back all that I lost in 2008/09 and some.
 
Don't think I called that or any company a dog. I just stick with what I know. If someone oes want to spend lots of time they can buy an index and get market returns every year.
 
The bi-monthly TSP contribution used to be 5%, but it is now apparently uncapped. This means I will be slowly upping the ante on how much of my paycheck goes into the TSP each month.

As for life insurance, I can see why not giving a fuck about other people might lead Top to have no use for it, but, clearly we have diverging personalities...
 
3dork shit on the great investors wisdom at your own peril junior. Who the fuck are you insuring if you are single?
Your being ripped off use ky!
 
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