How many people do you know make a living from the stock market? My guess is that you don’t know very many, if any at all, and that is because it is getting harder and harder to make money. This is not because the stock market is not a great place to triple your money, it is just because too many people are greedy, and greed is never a good thing when dealing with the stock market.
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Many of you who have already browsed my blog in the past know that I have written many articles about different topics relating to RRSPs. Due to my husband’s coaxing, I decided to try to write a short e-book on the topic so that it would be a useful reference for folks who were told they need to contribute to an RRSP but really have no idea what RRSPs are or how they work.
Retirement funding may not be the first thing on your mind when you’re worried about soccer practice basic meal planning and making it to the weekend, but saving for retirement now when your family is young – even if you’re on a tight budget – will ensure that you have a more secure future. While many parents are more concerned about saving for college than retirement, this is backwards thinking. Always remember: Your kids can find alternative funding for college, but no one is going to scholarship your retirement.
With that in mind, let’s talk about how you go about funding your retirement with an IRA. The main distinction here is Traditional vs. Roth IRA, and it can be tough to decide which is best for your family when you’re on a budget. Here’s what you need to know about the essentials of how these retirement accounts work and how you can choose which option will work best for your family.
We live in interesting times. Since 2008, the world has been mired in a global sovereign debt crisis for which there have been few historical precedents. The excessive creation of financial derivatives — to the tune of 1 quadrillion USD — are at the root of the crisis, with by-products being an abundance of insolvent nation-states, insolvent mortgage holders, and rampant price inflation leading to unrest and regime changes in the Arab nations with possibly other parts of the world to follow. Because of the situation, markets are becoming more volatile and investors are panicking more frequently.
One of the biggest mistakes inexperienced investors make is to throw all their capital into one well-performing stock in the hopes they’ll see extraordinary returns in a short time. While this can and does happen occasionally, it is mostly blind luck, and altogether not a very wise investment strategy.
A more seasoned investor will tell you that the best way to play your money is to diversify your assets. And that, almost all the time, is the best advice you can get.