Investing is not necessary. This statement used to be true back in the mid to late 20th century. People would work for a single company for 40 years, retire at the age of 65, and live quite well financially. Not only did they have Social Security to rely on, but many people also had a nice pension that they earned throughout their working career. However, times have changed. In most industries, pensions are going away. Social security isn´t going away, but its benefits will continue to shrink. The three-legged retirement stool of investing, pensions, and social security is getting weaker. And even though investing didn´t used to be necessary, it…
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Index Funds Can Save You Over $200,000!
It’s a pretty outrageous claim that I made in the title of this post. Index funds can save you (and me) over $200,000 throughout the course of our lives …. Hmmm … that certainly doesn’t sound true. But, just in case it is, let’s explore the statement. Since I started writing this on Black Friday (the ultimate shopping day here in the United States), this could actually be the biggest Black Friday savings ever! Before we dive into saving money with an index fund, it helps to know what it actually is. Basically, an index fund is a collection of stocks put together to make up a mutual fund. This…
