Quote:
Originally Posted by DAB
i had a BS in Mech. Engr.
never formally studied investing.
retired at 45, 10 years ago.
basics: find something you are good at. work hard. save some of each paycheck - the more the better. max out any retirement accounts, 401k, IRA, Roth IRA (some years, i dumped money in all 3), save other money in a taxable account. avoid stupid debt. getting a mortgage for a house is ok (don't get more house than you can afford), everything else - pay cash.
if i didn't have the money in my pocket or in my checking account, it didn't get spent.
wash, rinse, repeat for 20 or more years.
now i can do pretty much what i want every day. 
that concludes your free lesson in finance. go apply it. |
I basically followed the same approach and retired 8 years ago at age 54. I trust nobody but myself as far as what to do and where to put my money.
My take on money is people are genetically predisposed to saving or spending (sort of like addictive behavior,) and it is very difficult (but not impossible) to alter the path those genes take you on.