QOTD- Do you save for the future? How?

[Dr_Evil_Mouse]

I was putting money in a swear jar

Cass' is still going strong. We're thinking of bringing her along to all the better ragers with it. That should keep us in the black well into our 90s, I figure.

[timouse]

Well, my dad is a finanical planner and I will try to pass on some good advice to you.

If you want to make more money in a shorter amount of time then you need to put your money either in a stock or a more high-risk mutual fund. This has the benefit of the possiblity of making more money in a shorter time as said but with the high risk there is more fluctuation and more chance of bigger losses.

But if you are younger and say want to make money for the more long term then you would invest in a low-risk mutual fund (RSP) which doesn't make money as fast but doesn't have as much risk of loss as the prior.

this is all predicated on believeing that there's not going to be an economic collapse in our lifetime. the more i see of the world around me, the more sure i am that this really isn't sustainable...not to be a pessimist about it

the other side of it is that unless you specifically control who/where your money goes to, you're tacitly endorsing the actions of a company or companies whose agenda you might not approve of.

if you absolutely have to invest, there are a number of ethical funds that delve a bit deeper into a company's workings and philosophy before throwing money at them.

[Booche]

www.gdlive.com

[Jakis]

Im starting to save for bonnaroo this year if the lineup is good. Me and some friends are planning on going as a graduation present to ourselves.

Cheers,

Jake

[Dr_Evil_Mouse]

www.gdlive.com

Free stuff? Hey, that suits my criteria for a full and satisfying retirement. Sign me up.

No, wait, I have those shows. Pull the plug.

[onthejourney]

timouse...that is why I investigate what I invest in so I can do it with a clear conscience and I think everyone else should do the same.

as for the economic colapse, that is not predictable as to when but I would have to say my dad does a good job and he is honest (which is kinda rare in this biz). You can only do the best with what you are given...things like wars and sudden things like the IT thing in '97 - '98 were not in the range of predictable really.

As an aside, right now I am invested in wind power and soon in solar power LED. These things I can feel good about.

[Calamity Jane]

I often subscribe to Timmouse's theroy of sudden worldwide economic collapse...and so thinking so, it doesn't really make sense to keep money tied up in VIRTUAL places, especially when interest rates are so appallingly low anyway. [that being said, we do have savings-moolah in ING - the most virtual of all banks -- but we should seriously consider moving that into socks, not stocks!, and underwear drawers!]

For those just looking to save for future events/trips, etc, and if you can't do teh automatic withdrawl/deposit thing through your bank, do consider giving up ONE vice and putting aside that money each week. As a teenager, I learned about this when my parents finally quit smoking. they religiously put aside the amount they'd spend on smokes, and each year it amounted to a family trip somewhere (okay, Disneyland, actually.) You have to be quite disciplined to do this, but the benefits are clear!

[Blane]

You know what I'd like to have invested in last year, and actually spend a few days looking for is a renewable energy fund in Canada. I have never found one. The ones in teh US are off-limits to canadians. They've been going up in value like crazy and are a good ethical investment. OTJ or Timouse, do you know of any?

[timouse]

timouse...that is why I investigate what I invest in so I can do it with a clear conscience and I think everyone else should do the same.

as for the economic colapse, that is not predictable as to when but I would have to say my dad does a good job and he is honest (which is kinda rare in this biz). You can only do the best with what you are given...things like wars and sudden things like the IT thing in '97 - '98 were not in the range of predictable really.

As an aside, right now I am invested in wind power and soon in solar power LED. These things I can feel good about.

that's very cool, otj. and no slur against your dad, i had a very disappointing time with a finincial planner recently...i don't think he got what my "retirement goals" were

"umm... i want the hell out. move to the mountains in bc, get off the grid and watch the slow collapse of society from a safe distance."

and blane, i know that these funds exist, a lot of the startup capital for wind projects have come from that sort of pool of money. c heck out your local credit union, they seem to offer way more of that sort of thing...

[Dr_Evil_Mouse]

"umm... i want the hell out. move to the mountains in bc, get off the grid and watch the slow collapse of society from a safe distance."

Don't forget to plan for our spare bedroom!

[timouse]

"umm... i want the hell out. move to the mountains in bc' date=' get off the grid and watch the slow collapse of society from a safe distance."[/quote']

Don't forget to plan for our spare bedroom!

already taken care of...all of the mice are welcome

[d_rawk]

"The world breaks every one and afterward many are strong at the broken places. But those that will not break it kills. It kills the very good, and the very gentle, and the very brave impartially. If you are none of these you can be sure it will kill you too, but there will be no special hurry."

I drink and smoke my money.