So with the name of the domain being about saving and retirement, I probably should write about investing. Even though we are a 1 income family, I do save as much as I can.
I try to invest a minimum of 10% to my retirement accounts. At one point I was putting in 25% into my 401k. I know that there are sites where families have retired after only working 10 or so years, by saving 60 – 70 percent of their income. That would be a nice goal, but that’s not my current thing. So occasionally I plan to write about the various investments I have. Eventually I will create a page that shows my investments and what my ballpark total balance is.
I definitely should probably minimize the funds that I’m in. Currently I have investments in probably 20 different funds and maybe 5 stocks. I prefer to be extremely aggressively invested. The way I see it is that I will eventually have a small pension. This pension is what I consider my base, therefore I can go aggressive on other accounts.
About a month ago I purchased shares of Nestle, so far its done ok. Considering the whole BREXIT thing occurring, it hasn’t even phased Nestle shares. I’m not the type of person that can tell you why certain investments make more or less sense than another. I buy based on things I’ve read or how I feel. A few years back I bought into a fund called FBIOX, I was stunned at how much that fund earned in interest. This year however hasn’t been that great. But I’m in for the long haul, so we will see where it goes.
Lately I’ve been trying to come up with ways that I can put about 10k into some type of investment for my daughter. If you put 10k in an account that earns interest about 8% for 60 years (her retirement age), it would be worth $1,012,000.00 give or take. That’s without contributing another dime to it.