Originally Posted By: SuperDave456
I'm 28.
The most important thing is to start young.
The time value of money is the greatest multiplier out there.
+1
I started at 18 (now 27) and my Advisor says that if I stopped now I would still retire extremely comfortable.
I socked away every penny I didn't need and I'm still living at home. (about to move out next year) I always drove s-boxes until 3 years ago when I needed a more reliable vehicle for my job, which the mileage covers the car payment, maintenace/repairs.
To me having money for tomorrow is more important that big-screen TV's and morning Lattes
My advice:
-Save every penny you can, while still enjoying a vacation or two along the way.
-Get a good advisor that uses: Dollar cost averaging, regular portfolio re-balancing and will manage your tax burden and risk properly.
-DO NOT INVEST WITH A BANK, go to a private institution that only does investments, taxes, insurance etc.
-If they seem pushy then they are probably pushing you into products and investments that help their bottom line and not yours.
-If your employer offers a match plan, take advantage of every penny you can.