Members present:
Bickford
Dorman
Danak
Bickford is going to meet with a financial advisor next week. He's pretty intense about his investment planning, so it will be interesting to see what the advisor has to say. If he met with Yousef, he would probably just shake his head a lot and mutter things about how he should have done better in O-Chem.
We started talking about retirement, and 401Ks, and such. Apparently, when you retire, you should only take out 4% of your retirement savings. The idea is that you don't know how long it is going to take you to croak, so you don't have the unfortunate occurrence of living too long and going broke.
Let's say you are making $55K a year, and you would like to retire when you are 60 (just for friendly numbers). You are starting at 30, with nothing. In order to hit the mark of $1.25 million in retirement, you would need to put in like $40K a year. This assumes that you are making no return on your investment, and we are not even talking about inflation. This is the Banco Matresso. Anyhow, if you assume even a modest 3% on your investment, that number goes down dramatically, say to $30K or so a year. That is still quite a contribution, and honestly, not realistic to expect. However, if you work longer, that required contribution goes down, etc, etc, etc.
Then we started talking about pensions, and it started to go downhill....
And now for charts:
Things are looking good for EWZ, or at least not as terrible as they have been:
SPY is trucking along. Hopefully Europe will persist in not exploding:
ATT is also looking up:
Oh, and the original Star Trek Theme had lyrics!
For next week:
Let's set up the blog.
Talk about taxes.
Profit!
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