So I set up my 401k at age 18

the bad thing about 401K's is that if you are married and get into a divorce where assets are split 50/50, you will end up losing 50% of your 401K(amount from the time of the marriage). So if the wife didnt have a 401K plan or something similiar of her own, you will take a huge hit.
 
Seems like the consensus here is to not put your retirement money into IRAs (unless you have to rollover a 401(k) to an IRA after changing jobs or if you inheirit an IRA to create a stretch) but rather manage your own liquid accounts and pay longer term capital gains tax instead - provided you have the discipline to not cash out.
 
Well, chances are good that in the next few years, we all die in a flaming nuclear holcaust brought about by some towel head terrorist with a suitcase and a bus pass (or from Anthrax or something worse), but hey at least you guys have your 401K and Roth accounts.:)
 
Quote from steve46:

Well, chances are good that in the next few years, we all die in a flaming nuclear holcaust brought about by some towel head terrorist with a suitcase and a bus pass, but hey at least you guys have your 401K and Roth accounts.
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hahahahahaha YEAH IT'S ACTUALLY TRUE. Not trying to sound crazy, but seriously enjoy your life today, trade the money you can live on NOW, not 45 years from now....who knows what insanity is around the corner.
 
Quote from Reaver:

hahahahahaha YEAH IT'S ACTUALLY TRUE. Not trying to sound crazy, but seriously enjoy your life today, trade the money you can live on NOW, not 45 years from now....who knows what insanity is around the corner.
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I'm sure people said that about the cold war. I wonder where they are now -_-
 
Quote from morreo:

I'm sure people said that about the cold war. I wonder where they are now -_-
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I don't know, probably still around. What do you figure, boy genius?
 
Quote from brownsfan019:

No, you are wrong.

HAVING ALL YOUR EGGS IN ONE BASKET IS FOOLISH, NO MATTER THE AGE.

Ever seen an aggressive fund lose 90% in ONE year? I have plenty of times. How good do you think our friend here will feel when he sees he is putting money into something that lost 90% of it's value in ONE year?

Thank you. A bunch of knuckleheads patting someone on the back for being stupid is asinine... Aggressive because your young does not guarantee you any more money over the long haul. In fact, it will likey be the most likely to blow out in conditions such as the last couple of weeks.

Now I know where the 90% of traders come from who lose their money daytrading/leveraged trading.

"Gee if I could make a million dollars in 20 years in the stock market, then why not just use 4x leverage and do it in 5 years? or use 20x leverage and make it in 1 year? Or 200X and do it next month?"
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Quote from rcanfiel:

Quote from brownsfan019:

No, you are wrong.

HAVING ALL YOUR EGGS IN ONE BASKET IS FOOLISH, NO MATTER THE AGE.

Ever seen an aggressive fund lose 90% in ONE year? I have plenty of times. How good do you think our friend here will feel when he sees he is putting money into something that lost 90% of it's value in ONE year?

Thank you. A bunch of knuckleheads patting someone on the back for being stupid is asinine... Aggressive because your young does not guarantee you any more money over the long haul. In fact, it will likey be the most likely to blow out in conditions such as the last couple of weeks.

Now I know where the 90% of traders come from who lose their money daytrading/leveraged trading.

"Gee if I could make a million dollars in 20 years in the stock market, then why not just use 4x leverage and do it in 5 years? or use 20x leverage and make it in 1 year? Or 200X and do it next month?"
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Good posts. I think that regardless of risk there should be something said for the OP for starting to save and invest at 18. I mean, I did it, I'm sure many financially savvy traders around here did as well, but that really isn't the norm. It takes discipline and over time a good habit like that will pay off.
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Quote from commoditiestrdr:

That's great you are starting that young check out this compounding interest calculator. You can play around with it to determine where you will be at.

http://www.commoditiesvue.com


And plug in some Elliot Wave into that calculator and see how quickly you can compound your bankroll into the ground...
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