(02-24-2021, 06:05 PM)jagibelieve Wrote:

(02-24-2021, 04:32 PM)Jags Wrote: That’s our plan.  We meet with him in April.  I’m looking forward to it.  I opened a Roth IRA w/ him when I was 18.   Life happened and I quit contributing.  By the time I have the appointment it will be 21 years later!  I think I’m years overdue.  I just hope he doesn’t want ALL my excess money, lol.  Gotta have some fun with the hard work.

A Roth IRA is a good move for you given your age (at least what I think it is).  A traditional IRA is also not a bad move which will give you a current tax benefit.  As far as contributing, the key is to contribute as much as you can on a regular basis, even if it's only a few dollars per month.  Over time your nest egg will grow and when you hit retirement age or close to it you will be sitting pretty good.

The people basically "betting" on individual stocks, buying and selling every day are not investing.  They are gambling.

My age is 38.  39 at time of appointment.  The wife is set with her job and retirement if she has the nerves to stay another 25 years.  I for one, can not and will not be mowing when I’m 65.   I’m wanting out at 45-50. (I’m a young 38!!). But I do have the business itself that I can manage in my older days provided that I can find decent people and don’t go senile.   That story will tell itself in years to come.  We’re open to giving him 3000 a month provided I don’t have to hire another guy.  That allows us some free money so we don’t live paycheck to paycheck.  We’ve been there, done that.  Not going back. I’d imagine that is more than enough to buy the land,  retirement...?  Idk.  Looking forward to it.  But something does tell me I’m going to hear something I don’t want to.  He may tell me I need to pick and choose.  If so, I’ll just have to accept it.  Time to be responsible.   At least financially.   I refuse to be fully responsible.  

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