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Retirement Savings Plan Alternatives?

by Adevictus
6 replies
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Hey guys, I'm currently 19 years old and entering into the whole world of finances and such. I'm at a point where I am beginning to see income and I really want to save and invest my money.

I've watched as my parents have slaved away their whole lives so that the banks could make the real profit off of their retirement savings. I do not want to join them, I do not believe saving money (in a bank at least) will make me any money and I feel that it will actually lose money due to inflation.

The real question is, what is the best way to go? I want to start saving early but I also want to see some real results, not too interested in getting scammed by the banks.

So far I've just been pumping my money into IM ventures and hoping for long-term returns...

Can anyone offer any advice? All answers much appreciated, thanks.
  • Profile picture of the author shmerns
    Invest in precious metals - Gold and Silver. Start to do some research and you'll see that this is the only way to go right now.

    I hope this helps

    Lori P.
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    • Profile picture of the author Adevictus
      Originally Posted by shmerns View Post

      Invest in precious metals - Gold and Silver. Start to do some research and you'll see that this is the only way to go right now.

      I hope this helps

      Lori P.
      Definitely something I'm looking into. The only problem with precious metals is that they have no yield. I'm having a hard time finding any investment that provides stable, long-term yield.
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      It's all about the money...

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  • Profile picture of the author Big Rob
    Something that I have been looking into,
    Adevicutus-( is that latin for attracts hot women to post?) sorry, i digress...

    A self directed IRA. Dont have all the details sorted out, but so far it seems a viable alternative to my stale old (and company controlled) 401k.

    Like being able to invest in a business. Get it?

    Hope this helps.

    Rock On,
    Rob
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  • Profile picture of the author WhiteStarlight
    Pretty hard to answer your question in just a few words.

    At first i would say, that there is no such a thing as optimal investment. You can make money with real estate investing, precious metals, stocks etc. The point is that you do not need to invest in all available options of investing, there are really too much of them and you won't be able to pay appropriate attention to each of those.

    Just select one or few of these options which you really like and pay all your attention about learning how to invest in your selected areas.
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  • Profile picture of the author KimW
    Not hard to answer at all.
    This guy is the real deal,but it is hard work to actually do.
    Are you up for it?

    Check it out.
    Dave Ramsey Homepage - daveramsey.com
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