am i screwed if i don't start a retirement account until im 30

[gtc08]

ira im talking about.

figure i'll have my student loans paid off in about 7 years, plan to complete grad program in 2010. figure at 30 is when i could open a ira with a 1k deposit then deposit the max yearly.

am i too late to save a substantial amount if i start at 30. any idea how much i would have saved up in one of those if i put in the max yearly which i think is 2500 till i'm like 60 which is when i'd hope to retire.

 

[whalewager]

You will have plenty enough to live in costa rica. Good luck.

 

[Romanowski]

yes screwed for more reasons then you list

 

[gtc08]

damn didnt expect the politcal pundits to follow me down here

 

[teazeman]

you'll be dead long before retirement, spend the money and live it up while you're still kicking.

 

[krh7]

you'll be dead long before retirement, spend the money and live it up while you're still kicking.

it's never too late.

if you could just open an ira now and put $1000 in it. with the stock market near bear market lows, you could see your initial $1000 almost double by the time you are 30.

opening and funding the account is the hardest part.

 

[PercocetThreat]

it's never too late.

if you could just open an ira now and put $1000 in it. with the stock market near bear market lows, you could see your initial $1000 almost double by the time you are 30.

opening and funding the account is the hardest part.

Obviously it's better to start when you are younger but it's never too late to start.

 

[MadTiger]

Don't be brainwashed into thinking that an IRA is the only way to go about getting a better chance at a secure future for yourself. That is just one of several avenues.

Speaking with MBA in Finance here.

 

[krh7]

Don't be brainwashed into thinking that an IRA is the only way to go about getting a better chance at a secure future for yourself. That is just one of several avenues.

Speaking with MBA in Finance here.

gambling is an option too. anything where you take risk to increase your money.

 

[GasMan]

Thought you were moving out? Try to invest in the Canadian Stock Markets...

 

[Woody0]

30 is not too late to start a retirement account.

I was 29 by the time I'd finished post-doc and got a "real" job. I retired at 57 and have enough to live on in my retirement account, if the market doesn't get much worse. Celebrating my 65th this year on a two week Caribbean cruise.