Im 19 how can I invest too retire by 30?

Question

Just wondering if anyone has any tips. I have a decent job make about $500 cash a week.

Answer 1

Believe me. It will be boring as h**l if you retire so early.

Answer 2

use this retirement calculator:

http://www.wachovia.com/misc/1,,1119,00....

Answer 3

That's a little unrealistic

Answer 4

Its great to be thinking about funding your retirement when you are still young, but you need to be realistic about your goals.

$500/week is 26000/year and frankly, unless you get a significant boost in those earnings, there is very little chance of being able to retire by the time you are 30 (I'm defining retirement here as stopping work an living solely on your savings/retirement plans).

But sock away say $100 a week from now on into a good long term growth mutual fund and you will be way ahead of your most of your peers.

Answer 5

You want to retire in 11 years and you're asking others how to do it? Unlikely. If you don't have any idea on how to reach an unreachable goal, I doubt anything that is said here will help you. Most people with that ambitious of a goal and having an idea of how to do it are too ambitious to retire that early.

Answer 6

Well, to my mind it would be great to run your business and invest money in it. You will get much more than bank rates.

by the way you could find people who will invest money in online business at 20% annual interest and get paid $100 for asssistance.

http://answers.yahoo.com/question/index?...

Answer 7

That won't be enough to retire by 30.  Start a Roth IRA as soon as possible.  Find a good stock broker to help you set it up.  Make sure to find a broker that will explain things to you.  DON'T INVEST IN ANYTHING YOU DON'T UNDERSTAND!!!  If you start investing now you will have enough to retire wealthy at age 60.   Other tips:  buy a house and pay it off quickly.  Stay  out of debt except for your mortgage.  Have an emergency fund in a money market account,  at least 3 months living expenses,  6 is better.