Tuesday, March 24, 2015

30-something friend from media, libertarian background writes big column on saving for retirement

Timothy B. Lee, whom I met in my days in Minneapolis when he was an undergrad at the U, has a big piece on Vox today “How to save for retirement without getting ripped off by Wall Street”, link here
I had an advantage, getting out of college without debt (thanks to parents).  Frankly, not having a family meant (yes, gay, the way it was for my generation) meant not having to borrow money for overpriced houses and cars and furniture.  I bought music (records and CD’s), tech gadgets, and eventually communications services and self-publishing infrastructure, but none of that required more than average credit card use.  I also paid off balances due each month, so no interest charges.
Discretionary income, and not having children, is a big deal, for social policy, particularly as the population ages, and as we may run into filial responsibility laws.
I agree with the column on stocks.  Use dollar-cost-averaging, and don’t play the volatility in the market, unless you want to make a living as a day trader, which is not for the squeamish. 

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