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what u do for retirement?


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hi guys, been thinking of my own finances.

not very savvy here, so been putting most of my money in the bank. earning pathetic interest rate.

wary of stocks after 2008. of course with hindsight, now i realised it was stupid, should have kept all money in stocks and be happy now in 2017.

so decided to look at some long term investing and see what i can do to plan for my retirement (hey, i cannot be a baby forever right haha)

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An IRA or a Roth IRA might be a good choice if you're looking to put money aside, rather than just simply trading in the stock market. Dividend will still rely on how well the stock market does, so there is a connected risk factor. With (roth) IRAs you just basically rat hole a little bit of money away each year. They're basically the same but there are some minor rule differences on when you can touch the money you've put into the account and if it's tax free when you put it in, or when you take it out.

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Let me expand a bit on what Wakko had to say.

Okay let's see if I can be of any help. I'm retired with assets that most would consider quite adequate. The usual declaimers

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It is proven that to make money on the stock market requires you to be invested long term , the 40 best days on the stock market happened randomly and you profited, whereas those who try and time it and guesstimate have lost money, so just like the lottery you have tk be in it to win it!

Sent from my SM-T810 using Tapatalk

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