venom racing fireball motors?
03-24-2011, 02:47 PM
#26
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RE: venom racing fireball motors?
ORIGINAL: electricrc68
yeah true. but what my dad is doing is he has a couple of houses he has for rent, and i overheard his conversation with my mom, and he said once im ready for college, hes going to sell one of the houses and help with funding for my college education which im aiming towards veterinary. and for retirement....i don't even have a salary yet.....
yeah true. but what my dad is doing is he has a couple of houses he has for rent, and i overheard his conversation with my mom, and he said once im ready for college, hes going to sell one of the houses and help with funding for my college education which im aiming towards veterinary. and for retirement....i don't even have a salary yet.....
it's nice to have help, but it's better to not need help
03-24-2011, 04:07 PM
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RE: venom racing fireball motors?
ORIGINAL: rc awesome
what kid saves for retirement? LOL
what kid saves for retirement? LOL
03-24-2011, 04:46 PM
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RE: venom racing fireball motors?
ORIGINAL: electricrc68
thats what i was thinking....i shouldn't be worrying about retirement....first i need to worry about getting into college and getting the job i want!!!!
ORIGINAL: rc awesome
what kid saves for retirement? LOL
what kid saves for retirement? LOL
even if you're 15, you're a fool if you don't have a roth IRA
03-24-2011, 05:02 PM
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RE: venom racing fireball motors?
ORIGINAL: sloppyG
BS you shouldn't .... at any age you can put money in a retirement account (roth IRA since you don't make much money yet), you put the money in and when you take it out you don't have to pay taxes on it
even if you're 15, you're a fool if you don't have a roth IRA
ORIGINAL: electricrc68
thats what i was thinking....i shouldn't be worrying about retirement....first i need to worry about getting into college and getting the job i want!!!!
ORIGINAL: rc awesome
what kid saves for retirement? LOL
what kid saves for retirement? LOL
even if you're 15, you're a fool if you don't have a roth IRA
03-24-2011, 05:17 PM
#31
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RE: venom racing fireball motors?
I know it's no fun to think about saving, but if a kid takes $500 and blows it on anything, it's just gone,
money invested doubles about every 7 years, say a kid's 18, plans on retiring at 60 that's 42 years or about 6 times the money will double
500 now is going to be $32,000 tax free at retirement time if it's been put into a roth IRA.
you just have to decide what's important to you, $500 now, or $32,000 later
money invested doubles about every 7 years, say a kid's 18, plans on retiring at 60 that's 42 years or about 6 times the money will double
500 now is going to be $32,000 tax free at retirement time if it's been put into a roth IRA.
you just have to decide what's important to you, $500 now, or $32,000 later
03-24-2011, 05:21 PM
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RE: venom racing fireball motors?
it's just a good habit to start, no matter how young you are
I'm going to get down off my soapbox now, I'm just glad I had some older and wiser folks hammer into my head to get my retirement savings going from an early age
I'm going to get down off my soapbox now, I'm just glad I had some older and wiser folks hammer into my head to get my retirement savings going from an early age
03-24-2011, 05:22 PM
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RE: venom racing fireball motors?
okay lol. well if i told my dad "i want to save for retirement" he would freak out and say "YOU NEED YOUR COLLEGE EDUCATION FIRST...WHAT ARE YOU CRAZY?!?!?!?!?!" so thats why im not starting till my first salary.
