• 02:55:19 am on June 4, 2008 | 11
    Tags:

    Join AJC’s Live Video Chat on Thursday @ 8pm CST … 7 Millionaires … In Training LIVE Results Show: Final 30 announced live tomorrow … don’t miss it!

    ________________________

    Meet John!

    I have a simple strategy for John; he wants to work until he retires at 55:

    1. Save 15% of all that you earn pre-tax (take your employer match in your 401k, put the rest in a broad-based Index Fund unless you are really sure that you can ‘beat the market’ by 30%+ long-term).

    2. Save/invest 50% of all future pay increases per 1.

    3. When you have enough, it’s OK to put down a deposit on your own home, but keep an eye on the 20% Rule.

    4. Oh, and most importantly … start a modelling career on the side! 🙂

    Now, let’s meet John

    I’m a 24 year old Design Engineer who is 1.5 years out of college with no debt thanks to the parental units.

    My investing strategy thus far has been to max out my Roth IRA, contribute 10% to my 401k, and save around 20% of my post tax income.

    I have a 3-6 month ‘Murphy’s Law’ fund and earned an average 18% return last year. Had I followed my current investing strategy, it would have been 35%.

    My financial goals include: saving for a 20% home down payment, building a Factory Five Roadster, and retiring from full-time by 55

     

Comments

  • Debbie 7:59 pm on June 4, 2008 | #

    oooh. no debt a year and a half out of college. I am SO JEALOUS! 🙂 What a way to start out though, good for you!

  • Sue 9:14 pm on June 4, 2008 | #

    Good luck, John. Your on the right track!

  • Cassie 1:53 pm on June 9, 2008 | #

    good luck baby!! i’m always there for you:)

  • D Unit 4:07 pm on June 9, 2008 | #

    You have sound investment techniques, and a good return on investment to back up your advice. good luck

  • Leafe 5:11 pm on June 9, 2008 | #

    lucky man, want to help me making 35% on my savings?

  • Katie 6:26 pm on June 9, 2008 | #

    Best Wishes…John

  • Biz 7:22 pm on June 9, 2008 | #

    Wow! Good luck, Johnny B!!

  • Lindsay 7:46 pm on June 9, 2008 | #

    Good luck John! We will have to compare notes and our strategies. Doing heavy energy and emerging markets currently. If your fa needs another lab rat let me know I’d be happy to send him my info.
    -Lindsay

  • Brooke 2:24 pm on June 10, 2008 | #

    Good luck John, I know you’ve been working hard to get where you are. You’re already a success story, now it’s just about getting the right tools to live comfortably long term.

  • Christine Williams 7:59 am on June 13, 2008 | #

    Good Luck John!! We should all be so money-savvy!!

  • Mark Harter 4:22 pm on June 15, 2008 | #

    Sounds great! Its good to hear that retirement is an option. I’d like to not work the rest of my life.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: