Did you get your future social security benefits analysis?

i love these things also. i found a mutual fund calculator, and the fund that i opened up about a year and a half ago, will be worth one million dollars by the time i'm 40. not bad for a kid who is only 19, without having ever made more than 1xxxx a year.

 

I like being reminded of all the money taken from me over the years, not one cent of which I will ever see again due to either future means-testing or insolvency of the system.

 

What assumptions are you making when you plug in your calculations? I think it's great that you're planning ahead at the age of 19, just curious about the type of fund and growth rates you plugged in.

 

currently, my main mutual fund/investment is an american funds account, investment company of america class a shares, symbol aivsx. i bought this fund through an insurance settlement, and if i can even call it this at my age, it is my retirment fund. www.msn.com had a good money section with a calculator. now i know that these are not the greatest ways to tell, and i know that i will not be worth 1,123,456.73 on september 26, 2040. but it does give you an idea as to what could happen. this fund is my main investment, and i have about 3xxx that i play around with in a td ameritrade account, and a couple of other funds that are more short term. you know, i could have taken the money and went out and bought a ferrari, or a rolls royce, which i gave some serious thought to at the time, but now i am sitting back and doing what a majority of college kids my age dont: i'm thinking about life after school. the way i figure it, if i invest well, which i feel i'm doing now, and a little luck along the way, i could have my 100000 debt from school paid off and have an f-car in my driveway 10 years out of school. while most students are worried about what party they are going to this weekend, i'm looking at stocks, and then i'm going to the parties, , imagine what would happen if every student started saving at age 16, when a lot have jobs, and put it in a safe fund, we may not have to be so relied on soc. sec.

 

Sounds like you are making intelligent choices that will serve you well through life.

 

thank you, i sure do hope so.

 

Let me guess, COM graduate of '94 and then 4 years of residency? lol

 

2020 $0

 

boy the system sure isn't fair. i went looking for mine, found the one from 2003. retirement pay $1350, and if i kicked it my wife would get $2650 a month. my tax yrs start in `93 and i have not made anywhere near as much has you based on the x's. so why the disrcipentcy? who decides how much each contributor gets?

then again i never plan on seeing any of that money. so no loss for now.

 

Im with you.

Its great fun to be reminded that you have been robbed, you are going to continue to get robbed and there is absolutely nothing you can do about it. Its legalized armed robbery pure and simple.



Terry