Start an IRA and put a few bucks a month in to buy shares of a mutual fund. Every penny you can invest in retirement will pay off when you do retire, and the sooner you can start, the better.
MrJameGumb@lemmy.world 7 months ago
At this point I’m just assuming that by the time I’m “retirement age” there won’t be any social security anymore, and I’ll just have to keep working until the day I either drop dead or win the lottery
EatYouWell@lemmy.world 7 months ago
Anamnesis@lemmy.world 7 months ago
No average year of IRA return is guaranteed to beat the 6.8% interest or more that a lot of us are paying on student loans debt.
EatYouWell@lemmy.world 7 months ago
Over the lifetime of the investment account, it should outperform the interest you’re paying. You don’t want to track your retirement investments from year to year since the market constantly fluctuates, but it’ll still trend up 6-9%.
Quexotic@infosec.pub 7 months ago
I’ll certainly drop before I am able to retire.
Coreidan@lemmy.world 7 months ago
Even if social security was still paying out it’s not like you could retire on it anyway. You need a lot more.