by Triple Water Astrology

Created on: March 06, 2007   Last Updated: April 14, 2007

Living off of your investments is a goal that will take decades of patience and persistence if you're starting from zero. Twenty-somethings have it made - of course, Social Security will not be there when they retire, but that can be of benefit. Why? You will be in charge of your money and your future instead of a bunch of politicians and bureaucrats. The days of the nanny state taking care of you in your Golden Years will be long gone.

The real key for twenty-somethings is to find your craft early. If you can't stand your job, it will be more difficult to save money. You'll need to spend more to relieve job stress and probably start job-hopping which will diminish earning and saving power.

No matter how low your income is, you can save. Even if you don't want to, live with your parents for a few years or stay with a roommate. Build up $10,000 to $20,000 that you can invest aggressively in the stock market; if it's in a tax-deferred account that's even better. Then, if you can afford it, save as little as $50 a month and dollar cost average it into the stock market. When the market drops, invest as much more as you can. It will take pertinacious determination, but over time you will feel more comfortable about being able to retire in your late 50s or early 60s.

Keep in mind, thirty years is so far in the future that you may have a way of making money in retirement that you haven't imagined. The world is changing so rapidly that work will almost certainly be redefined so you may want to continue to work well into your 60s and be happy with that.

No one likes to hear sacrifice today for the benefit of tomorrow, but you'll be glad that you did.

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