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Just getting into investing---fun!

Don't know about a self directed IRA but a Traditional IRA you will pay the tax on it that you saved from tax exempting on your income taxes.

That is why I clearly referenced a self directed IRA..
tou can move any existing 401k to this for rental property,
Land... You just use those vehicles vs Stocks, ETF’s, or Mutual funds...
 
I'm definitely late to the investing game. I just started a 401k at work, Unfortunately no matching. I started a Roth IRA this week as well and set up a 2050 index fund. I'm enjoying learning about all this.
Looking forward to throwing some money at this
My daughter has been in a 2050 Fidelity mutual fund for about 4 years and has done very well. Thank You Donald!
 
There is one investment that young to middle agers might consider now. And that is land. It peaked out in 2008 to 2010 and now has dropped to less half of that in many places, first drop I've seen in 70 years. Land doubled in the 1960's, stagnated in the 1970's, started moving up in the 1980's right on up to 2008 to 2010. This is a time to buy land and not to sell it. As our cities get to be a less desirable place to live people are moving out. And as our society gets worse and worse, people tend to move out of cities also. And it is a leveraged investment if you borrow money to buy it.
one does not own land, they merely rent it from the local/state gubmint. Try not-paying your property tax.
 
Money is time and time is money, the key is living long. I started in 1984. I put 21% in for years then bumped to 25% in 1995. Started in 2000 buying Traditional IRA's doing the max for me and the wife to offset my taxes and each year I paid for at least one of the IRA's with our tax refund as it brought our taxable in come down considerable at $6,000.00 for each one of us, so in reality $12,000.00 IRA's cost us $6,000.00 instead of paying it to the IRS. I know it's taxable when we use it but it will be at a lesser income rate. Original OP you're smart for taking care of your future, if anyone has a 401k at the very least put in the max you can do usually 6% and as has already been said you'll be surprised on what it will add up too. Usually investing in a 401 k don't affect your bring home pay that much.
We do not have "money" in this economy, we have "fiat currency" with no inherent value. one may have 10 million and I might have 1 thousand, but when the fiat USD goes to it's inherent value, we both have nothing but air.
 
We do not have "money" in this economy, we have "fiat currency" with no inherent value. one may have 10 million and I might have 1 thousand, but when the fiat USD goes to it's inherent value, we both have nothing but air.

Most of the world’s money is called fiat money, meaning it is accepted as money because a government says that it’s legal tender, and the public has enough confidence and faith in the money’s ability to serve as a storage medium for purchasing power.

A fiat system is based on a government’s mandate that the paper currency it prints is legal tender for making financial transactions. Legal tender means that the money is backed by the full faith and credit of the government that issues it. In other words, the government promises to be good for it.


Fiat money is the opposite of commodity money, which is money that’s based on a valuable commodity, a method of valuation that was used in the past. At times, the commodity itself actually was used as money. For instance, the use of gold, grain, and even furs and other animal products as commodity money preceded the current fiat system.
 
So what do you keep money in a coffee can or under your mattress? Your posts take on an eerily tone similar to the writings of Ted Kazyncski..
Hardly, I am just offering a clue or two for those who appear to have none. Buy gold and silver, after you are out of debt (I do not mean you personally), and have stocked up on the necessary things your family will need when the monetary system finally collapses. Gold and silver remain constant and have been reliably used for trade for over 6000 years. The central banks are stocking up now. Time to back up the truck
 
Hardly, I am just offering a clue or two for those who appear to have none. Buy gold and silver, after you are out of debt (I do not mean you personally), and have stocked up on the necessary things your family will need when the monetary system finally collapses. Gold and silver remain constant and have been reliably used for trade for over 6000 years. The central banks are stocking up now. Time to back up the truck

Gold and silver.....:thumb:
 
Most of the world’s money is called fiat money, meaning it is accepted as money because a government says that it’s legal tender, and the public has enough confidence and faith in the money’s ability to serve as a storage medium for purchasing power.

A fiat system is based on a government’s mandate that the paper currency it prints is legal tender for making financial transactions. Legal tender means that the money is backed by the full faith and credit of the government that issues it. In other words, the government promises to be good for it.


Fiat money is the opposite of commodity money, which is money that’s based on a valuable commodity, a method of valuation that was used in the past. At times, the commodity itself actually was used as money. For instance, the use of gold, grain, and even furs and other animal products as commodity money preceded the current fiat system.
Amen: even whiskey was used as currency in our short history as a nation. It was unreliable however, as it could be watered down, reducing the quality and effectiveness of the whiskey (currency). It is the same with fiat paper/cyber currency today: when fiat dollars are created out of thin air and monetized, they dilute the purchasing power of all the dollars in circulation. In other words, the gubmint is stealing the purchasing power of your fiat dollars. But wait....there's more: these fiat dollars are sold as treasuries and go on the books as a loan, so those who work for a living, get to pay it back twice, with interest. What a country!!

When a train is coming, it is best to get off the tracks.
 
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