Greetings! I am currently a 19 year old Computer Engineering student at the University of Cincinnati. I view myself as a prospective thinker and I always like to have a plan or at least a vision of the future. My goal is not riches and mansions and speedboats. However, I want to provide for myself a sustainable, comfortable, and one day self sufficient life.
Assuming all goes well and I graduate with my degree in CompE, this lifestyle I have described should be very attainable. However, I know that there are unforeseen costs in the future. It may seem like a single guy living by himself making $90,000 a year should have more money than he knows what to do with, and this is currently how I see it. But I do know things happen. You marry a girl, she gets pregnant, someone gets ill, you need to take care of your parents, you buy a house and on and on.
I apologize for the pretext, but I felt it was necessary. I am essentially looking for a "retire at age 50 plan". I just got my first professional coop at a company. I had a brief conversation with a digital design engineer of age 30 who stated "You and I will be lucky to retire at 65". This statement is puzzling to me. If I make an average of $90,000 a year from ages 22 - 65, I shouldn't have an issue, correct? I am not a frivolous spender, I just want to go to work everyday, return to my apartment, blast the AC and drink diet mountain dew.
I am essentially looking for a 'retire at 50 plan'. I am an excellent saver, and I do not spend a lot of money. So, what kind of investments fit me? The kind of investment where you invest 5% of your salary every 2 weeks and then one day you wake up and you have created something. Would it be smarter to just invest heavily into a 401k? A simple savings account? CD's? My point is I really have no idea. I want to be able to maximize my gain over my lifetime with fairly little risk (I know there will always be risk... but there has to be a good option). I know one friend who says his brother just invests a little into the S&P500 every 2 weeks. Again, I have no idea about any of this. I just like to plan out my future and have some sort of financial plan. Looking for good information for a young adult to start his life.
TLDR: I KNOW NOTHING ABOUT INVESTING IM 19 WHATS A GOOD LIFE PLAN
Submitted September 14, 2017 at 03:39PM by Bradyh98 http://ift.tt/2eYBEEJ
