What would you do? If I contribute $400 a month to my $54k, the compound calculator at 6% shows $280,000. That will be $14k per year for 20 years. Social Security for me, at age 70, will be about $25k a year. I have to do something extraordinary to get that IRA figure UP. And I have to do something NOW because in 17 years I will be 70. Yes, the mortgage will be paid off by then as well as other expenses, but some choppy math shows a potential cost of living equal to the income. Am I discouraged? Am I depressed? No. I am MOTIVATED! So, if you were in my shoes, what would you do?
-Learn to trade options (so I can make money when the market drops)
-Join an investment club
-Refi our 30-year mortgage to a 15-year (downside being less money to contribute to VTSAX)
I am all ears…!
Ken in Dallas