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Better than Hillary's Cattle Futures

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  • Better than Hillary's Cattle Futures

    Attention Young People. Please read how to turn $4,000 into $250,000 for your retirement.

    In 1981 I put $2,000 (which was the maximum then) into an IRA account. I did the same in 1982. In 1983 I was on a plane reading Money Magazine about good Mutual Funds -- and moved that $4,000 plus the interest (was 11% then) to a Value Line Mutual Fund.

    Now I've put the max into my IRA every year since -- but never co-mingled other money into this account. I just left it alone for 32 years - so far - just to see what would happen. Today that $4,000 is worth well over $200,000.

    Open an e*Trade IRA account and put the maximum every year into a Quality No load Mutual Fund - like Value Line. This is what just two years of 34 years looks like. It doesn't include the IRA account I set up for my wife or of the other 32 years. Maximum was $2,000 then -- but I think it is $5,500 per person now.

    Don't depend on the Government to take care of you -- as they won't do it the way you should live in retirement.

    Feel free to share with your kids so they will understand the power of setting up your IRA as young as possible. I was in my 20s, married with one child and another on the way. It was painful trying to come up with $2,000 a year back then -- but I always made sure I did it.
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    Check out my Blog "Life & Times of an Old NSS Racer"