Quote:
Originally Posted by GregWeld
I think that's what kills savings for most Americans -- they don't "see" themselves saving any "real" money --- they just don't think that $50 or $100 a month is going to get them anywhere. What's more amazing to me is people that are clearly able to save $500 or $1,000 or more -- and they don't do it.
The funny part is - the more you've made during your lifetime/career... and the more you've spent on stuff.... the more you're probably going to like to live on in retirement. Yet they take no action whatsoever.
Most FEAR investing... yet what they should fear is their life after work stops if they haven't saved/invested for it.
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I'm not so sure it's fear as much as it is this materialistic carpe diem attitude so many people in this country have. I guess I'm referring to the younger people that have no clue how good and easy they have it in general. We live in a fantastic country. Combined with the I gotta have that attitude and no one seems to care about 30 years from now. Blissfully unaware I guess you could say.
I try to talk a number of the guys I work with that are hourly into getting involved in the company's 401k and ESPP. Even though they are hourly, with the significant hours we work, they make really good money. Much more per hour than what they are hired at, at least until things slow down, but almost none of them are interested in putting money away for retirement. I even put it in terms of how much more they could be making through the company match 401k if they just put away this small amount(put away 6% and the company gives you 9%). Yet, they aren't interested. They do have nice expensive cars and toys though! Me and the other salaried people for the most part get it and take advantage of it to the full extent we can.
As for investing, I've moved more money into my normal brokerage account. I hate seeing it sitting in my savings account at 0.95% so I'm putting another very small portion to work. I apparently got lucky with my purchase of VZ late last year and bought while it was a little lower. It's come back down some again so I thought I'd buy some more. Long term it should do just fine and it pays a good dividend. It's down because of the price wars between the carriers. This has also dragged down AT&T some as well. I think I'll purchase some of them too. Neither one is going anywhere anytime soon and they both pay a good dividend. Maybe I'll get lucky again and can buy while they are down. I think I might try the limit order thing this time around also. We'll see.