With the American economy like it is, should I even care right now?

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With the American economy like it is, should I even care right now?

chajones
Administrator
Nicole Felicia McCoy

I've been thinking of my financial portfolio and planning for retirement while staying abroad. Not that I'm approaching 60, but my employer doesn't have a retirement plan. Actually they do. It's to get rid of people before they're eligible to retire. With the American economy like it is, should I even care right now? Thoughts please.

Terrell Pasley You should always care (in my opinion). But by care do you mean making it a deal breaker? I think if your current planning deals with already starting an IRA, etc...it
November 23 at 5:39am · Like

Crystalyn Davis Diglin Yes, you should. The way everything is going its gonna be every man for himself by the time we all reach 60-65. Definitely put your own money aside and look into investing it as well. Sometimes the government will give you tax breaks for saving your own money.
November 23 at 5:40am · Like ·  2

Terrell Pasley it is never to early to start, earlier is better I think. I have had one for 1 years now and still under 40.
November 23 at 5:40am · Like

Terrell Pasley Meant to say I have had IRA for more than 11 years..
November 23 at 5:41am · Like ·  1

Nicole Felicia McCoy I've already started. They're just not moving much and saving produces such a low yield. I like the idea of tax breaks for saving your own money though. Need to look into that further. At this rate, we'll all be homeless or working abroad to stay afloat!
November 23 at 5:46am · Like

Desiree Monet Yes diversify your portfolio, get one or two IRAs, invest in some great stock while it is relatively low, and get a CD. Also companies like ING are great for personal savings accounts, I have been using them since in undergrad.
November 23 at 5:48am · Like

Terrell Pasley Well, most retirement type investments are kidna slow moving anyway, though right now even more so. They are meant to be long term gains.. that over time will go up and down. No need to worry I would say. "Trouble don't last always"
November 23 at 5:49am · Like ·  2

Terrell Pasley CD's right now are gaining almost nothing--pretty similar to money market accounts these days. Defiantely diversify. I am horibble at managing it all so I have someone doing it for me...need to get more educated though...
November 23 at 5:50am · Like

Nicole Felicia McCoy ‎Terrell Pasley I'm in your same boat. My last financial planner told me I needed to be more financially educated. I have to admit that the topic bores me. But it's my money, so I have to get with it. I've been told that bonds are interestingly the good old fashioned standby.
November 23 at 5:58am · Like

Terrell Pasley I currently have some type of govt (tax free) bonds. I was told I am being "too safe"..LOL!
November 23 at 5:59am · Like

Nicole Felicia McCoy Well we see what happened to those who weren't...We can change it up later if we want. Right now it's too much trouble to wire money as you lose more than the amount of interest it could gain in the wiring fees. So I have to devise a plan for that too.
November 23 at 6:09am · Like
Ms. Cha Jones (Seoul)