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The price is right!

What kind of increase to your current salary would you need to change your lifestyle?

  • up to 50% raise in income

    Votes: 3 15.8%

  • 50% raise up to double current income

    Votes: 7 36.8%

  • 2X up to triple current income

    Votes: 3 15.8%

  • 3X up to 5X current income

    Votes: 1 5.3%

  • more than 5X current income

    Votes: 0 0.0%

  • up to 100k annual salary (dollars)

    Votes: 0 0.0%

  • 100k to 200k

    Votes: 2 10.5%

  • 200k to 300k

    Votes: 3 15.8%

  • 300k to 500k

    Votes: 0 0.0%

  • more than 500k

    Votes: 2 10.5%
  • Total voters
    19
fishonjazz said:
The point is, if you invest $30,000 now, it will compound and grow faster than getting say $500 back a month to invest, even if you are paying 3%. The avg. rate of return on the stock market is 7%.

More importantly, everyone should invest as much as they can. Regardless of whether they finance debt or not.
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You say the average rate of return. Which means it could be less sometimes right? Isn't investing a form of gambling, albeit less risky?[/QUOTE]


7% is the average return you should expect over the long-term with the stock market. Unless you are old, and getting ready to retire, if you bet against the market long-term, you will likely lose. This is for broad based investments. My individual stocks have gained 40.32% over the last 12 months. I'd be kicking myself if I invested less and did not have a car payment (one car was at 1.9% that I just paid off after 5 yrs) and my current car is at 2.49%.

I have made 40% on my stock investments over the last 12 months. Over the last 3 years they have grown 215.48%. I just wish I had even more to invest. I also invest in commercial real estate, and even in the downturn, was still an ok investment. Over the last 15 years, my rate of return on real estate has never been below 4%, and has been as high as 29%. Utah commercial real estate is pretty safe, unless you own the Gateway. :)
 
I'm 56 years old and have a rare incurable illness that will most likely keep me from reaching retirement age. My dilemma is whether I should keep paying any more than my company matches into my 401k. I need a crystal ball.

FYI - not looking for sympathy here but some genuine ideas/opinions.

Sent from my HTC6535LVW using JazzFanz mobile app
 
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JAZZGASM said:
You say the average rate of return. Which means it could be less sometimes right? Isn't investing a form of gambling, albeit less risky?
Click to expand...


7% is the average return you should expect over the long-term with the stock market. Unless you are old, and getting ready to retire, if you bet against the market long-term, you will likely lose. This is for broad based investments. My individual stocks have gained 40.32% over the last 12 months. I'd be kicking myself if I invested less and did not have a car payment (one car was at 1.9% that I just paid off after 5 yrs) and my current car is at 2.49%.

I have made 40% on my stock investments over the last 12 months. Over the last 3 years they have grown 215.48%. I just wish I had even more to invest. I also invest in commercial real estate, and even in the downturn, was still an ok investment. Over the last 15 years, my rate of return on real estate has never been below 4%, and has been as high as 29%. Utah commercial real estate is pretty safe, unless you own the Gateway. :)[/QUOTE]

That is awesome. I have been focusing on investing in real estate the past 4 years, and thus have not put any money in the market. I wish I would have put all the real estate gains into retirement accounts. My real estate investments have had returns that were pretty great for what I invested, well over 100% on initial investment.

I need to figure out what I want to do though, as I don't have a 401k provided by my employer, and I just started a Roth. I am maxing out my Roth for 2016 and 2017. I have looked into simple IRA's but don't know a ton about them, and don't really know how to go about doing pre-tax investing. I am planning on transitioning my Roth to a broker that has a more lenient investment approach, to use the options on real estate and such. My current broker is Fidelity, and they are pretty traditional on the investments the allow.
 
JazzGal said:
I'm 56 years old and have a rare incurable illness that will most likely keep me from reaching retirement age. My dilemma is whether I should keep paying any more than my company matches into my 401k. I need a crystal ball.

FYI - not looking for sympathy here but some genuine ideas/opinions.

Sent from my HTC6535LVW using JazzFanz mobile app
Click to expand...

Man, I'd say that if you know that you won't reach retirement then stop putting money towards retirement. If it's like 80% I personally would take my chances and live now and let SSI or SSD take care of me, albeit at a pretty low income, essentially poverty.

If it's more likely than not you'll reach retirement then I'd invest, but I wouldn't invest too much.

I mean, unless you really want to give someone a windfall after you die and they collect your nest egg and promptly blow it on hookers and coke.
 
Bulletproof said:
Man, I'd say that if you know that you won't reach retirement then stop putting money towards retirement. If it's like 80% I personally would take my chances and live now and let SSI or SSD take care of me, albeit at a pretty low income, essentially poverty.

If it's more likely than not you'll reach retirement then I'd invest, but I wouldn't invest too much.

I mean, unless you really want to give someone a windfall after you die and they collect your nest egg and promptly blow it on hookers and coke.
Click to expand...

That's kind of what I'm thinking, and I recently reduced what I was putting in as I needed to pay some medical bills. I suppose I could consider it as a savings account (with a higher return than the bank) and withdraw it at some point using the hardship rule once I am unable to work.

I don't have children, so I don't need to leave anyone a windfall. I don't think my nieces and nephews would blow it on hookers and coke, but I guess you really never know. :) I do want to have a kickin' funeral, though.
 
JazzGal said:
That's kind of what I'm thinking, and I recently reduced what I was putting in as I needed to pay some medical bills. I suppose I could consider it as a savings account (with a higher return than the bank) and withdraw it at some point using the hardship rule once I am unable to work.

I don't have children, so I don't need to leave anyone a windfall. I don't think my nieces and nephews would blow it on hookers and coke, but I guess you really never know. :) I do want to have a kickin' funeral, though.
Click to expand...

Yeah I would probably just use it as a savings account with a higher interest rate.
 
fishonjazz said:
My wife and I do want to invest a small amount ($500) in a Marijuana production company but we have no idea how to choose which one and no idea how to actually invest the money.
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Give it to me. I will take care of you.
 
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