1
vote
3answers
176 views

Is compounding interest on investments a myth?

I continually see examples encouraging young people to start investing for retirement with graphic examples using compounding interest to show that starting early pays off big. I've always bought into ...
1
vote
2answers
110 views

First time investing advice (Canada)

I am 29 years old with a wife and we are planning on having a child in the next 2-3 years and as such I have been making a lot of life changes and planning for the future. Fist off I am sorry this ...
3
votes
5answers
687 views

How much should I save each month so I can retire early, in my Third World country?

I live in a 3rd-world country. I earn $500/month. How much percentage of my income should I save each month, if I plan for early retirement? Currently I am saving 30% of my income. Is there any ...
4
votes
4answers
191 views

Multiple accounts stagnant after quitting job.

So I made the move to quit my job of over 10 years a few months back and have never been happier. My one problem is that I now have some accounts that I feel that I could be doing more with. I had ...
7
votes
4answers
282 views

How do you go about calculating how much you need after retirement?

I am posting this question after reading this article on WSJ, where it says: Just 42% of working-age Americans have even tried to calculate what they will need in retirement, according to the ...
7
votes
3answers
254 views

How to get started with savings, paying off debt, and retirement?

I am getting married soon and I am in grad school (I get paid a stipend and have a tuition scholarship). I have no retirement plans available to me. My fiancee will be starting her job soon and will ...
16
votes
6answers
958 views

“One should save about 15% of their income for retirement.” What assumptions are tacit in that statement?

I read a lot of websites that say, "I've run the numbers, and you should be saving around X% of your income for retirement in order to be safe, and have fruitful golden years." With X% being a number ...
18
votes
3answers
571 views

Abundance of Cash - What should I do?

There seems to be a glut of information and I don't know where to start. My situation is: No debt/kids Own Home and Vehicles Have a years worth of living expenses in my savings/checking Max out ...
6
votes
1answer
175 views

Can I still claim my Hong Kong-based MPF pension if I move elsewhere?

I am 60 year old and I will not be living in hong kong in the future, would I still be able to claim back my mpf?
6
votes
6answers
219 views

When should I start saving/investing for my retirement?

I just started out with my first job and I was curious, what is a good time when I should start with my long term saving plans? Update: Thanks for the advice and I was expecting that answer. So my ...
3
votes
3answers
275 views

Financial Advice for Newlyweds

My wife and I are newlyweds, and we are fortunate enough to have little debt and respectable incomes - since StackExchange is neither anonymous or private I won't disclose the real numbers, but I can ...
5
votes
3answers
224 views

Is there a rule of thumb for how much to save into your pension for retirement?

Pension sites often quote "Use our pension calculator to estimate the amount of pension income you could get when you retire. This will help you decide how much you need to save to get the retirement ...
13
votes
5answers
3k views

Ideal net worth by age X? Need comparison references

Is there a website resource that gives suggestions for how much savings or net worth I should have at any given age, based on my education level and salary? I'm in my 30s, have no debt, and have been ...
33
votes
3answers
2k views

Saving for retirement: How much is enough?

How to save I'm in my late twenties and am trying to get started off on the right foot saving for retirement. I have learned that retirement savings should usually be placed in retirement accounts in ...
3
votes
5answers
152 views

School or retirement?

Currently, I'm working full time while studying to get my degree. I'm making monthly payments on my other debt, and looking to be completely debt free - with the exception of my student loans - ...
5
votes
2answers
181 views

With the likelihood of disability, should I save for retirement?

My brother recently qualified for disability pay at 34 years old for blindness. He and I both have the same degenerative disease. I'm three years younger than he is and will most likely require ...
5
votes
2answers
85 views

Is there a site that compares IRAs by different companies?

I'm planning on opening a Roth IRA in the very near immediate future (by this year's end, if not sooner). Is there a place I can go to see the different pros/cons of IRAs offered by different ...
7
votes
6answers
491 views

Is my company 401k okay or should I be using an IRA?

My company does not have a matching 401k. Instead it is a profit sharing 401k. How should I approach this? Should I consider investing primarily in an IRA instead? How much should I be ...
11
votes
4answers
437 views

What's the general principle behind choosing saving vs. paying off debt?

In "general" is it better to pay off one's debt (line of credit, etc.) or is it better to invest (retirement account / RRSP or the like)? I understand that the answer will depend on terms of debt and ...
6
votes
1answer
109 views

What is the best option for recent employee setting up a pension (UK)?

I have been a sole trader for a while and recently been employed full time, as part of the deal I have been promised an employer contribution pension but it is up to me to decide what to do. What are ...
11
votes
3answers
2k views

What percent of salary should go towards retirement vs. emergency savings?

What percent of salary should go towards retirement vs. emergency savings? Should some be set aside each and every pay for emergencies?
10
votes
3answers
900 views

Pensions, why bother?

Ok this question is going to show my age, but its something I've been thinking about for a while and can't quite figure it out Why bother with a pension? I don't understand, why should I put away ...