Ways to save money for retirement?

Question

I don't see oil prices ever leveling off (it is a finite resource), so I don't see how my 401K will make me money in the next 30 years before I retire. So... what are some better options? Invest in land? What to do?

Answer 1

Maybe oil prices will never come down...maybe we will somehow learn to get by on alternative energy...or get by on less... I don't know, you don't know, but, I do know that a 401 ( especially if you learn to manipulate it ) can make you a million or more. Now if you plan your retirement so that YOU won't be wasting energy...( economy car, efficient house, temperate climate, etc ) Maybe you can limp along on what tha million can earn... think about it: if you get pretty fair at investing, and manage 10 or 12 percent returns  you'd be making $ 100,000/$120,000. a year.

...but you gotta kick in to that 401...and start a seperate IRA... and plan...

...and , ooops!..you gotta stay healthy , too!

Answer 2

Land is usually a good option if you can afford it.  Make sure that if you buy land you get all of the rights associated with it (water, mineral etc.).  I don't think that Oil is a good long term investment personally.  As technologies change and things become A) more efficient and B) Use different materials, 30 years down the road too many variables are working against it.  Short term it would be a good idea though.

Real estate in general over long time periods is good, the people that usually have a hard time in real estate are short term flippers.

Your 401k should be a good investment as well over the long term.  I know it may not seem like it now, but you have more buying power in these lower markets.

A final option would be to open a business, this carries pretty big risk, but the reward can be phenomenal just ask Bill Gates.

Answer 3

How about oil.