Meet John!

  • Posted by
  • June 4, 2008

No Gravatar

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

Be Sociable, Share!

Information and Links

Join the fray by commenting, tracking what others have to say, or linking to it from your blog.

Information
June 4th, 2008
No Responses
Feeds and Links
Comment Feed
From This Author
Del.icio.us
Digg
Technorati
Categories and Tags
rich

Other Posts

Write a Comment

Take a moment to comment and tell us what you think. Some basic HTML is allowed for formatting.

You must be logged in to post a comment. Click here to login.

Reader Comments

Comment Number:
1
Written by:
Debbie
Posted on:
June 4, 2008 at 7:59 pm

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!

Comment Number:
2
Written by:
Sue
Posted on:
June 4, 2008 at 9:14 pm

Good luck, John. Your on the right track!

Comment Number:
3
Written by:
Cassie
Posted on:
June 9, 2008 at 1:53 pm

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

Comment Number:
4
Written by:
D Unit
Posted on:
June 9, 2008 at 4:07 pm

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

Comment Number:
5
Written by:
Leafe
Posted on:
June 9, 2008 at 5:11 pm

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

Comment Number:
6
Written by:
Katie
Posted on:
June 9, 2008 at 6:26 pm

Best Wishes…John

Comment Number:
7
Written by:
Biz
Posted on:
June 9, 2008 at 7:22 pm

Wow! Good luck, Johnny B!!

Comment Number:
8
Written by:
Lindsay
Posted on:
June 9, 2008 at 7:46 pm

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

Comment Number:
9
Written by:
Brooke
Posted on:
June 10, 2008 at 2:24 pm

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.

Comment Number:
10
Written by:
Christine Williams
Posted on:
June 13, 2008 at 7:59 am

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

Comment Number:
11
Written by:
Mark Harter
Posted on:
June 15, 2008 at 4:22 pm

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