I will be starting a Roth IRA and 401k when I get a real job after graduation and we don't have to make monthly decisions of who to borrow money from and whether power, water, or phone will be shut off for a few days until another paycheck comes. I consider it an investment in the overly optimistic hope that my generation will get old rather than annihilating the human race. Either way I'll be set.
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Originally Posted by samcol
Can IRAs and the like even keep up with the rate of inflation and cost of living increases? I mean it used to take .$90 to buy a euro a few years ago now it's like $1.45.
That's a pretty massive loss of dollar value.
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I'm pretty hopeful about the potential for currency deflation revaluation since the report last week that there's a minimum of 200 billion barrels of recoverable oil under North Dakota, maybe as many as 500 billion.
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Originally Posted by genuinegirly
My sister is raising her family (4 kids) on about $30,000/year, in Southern California. They want for nothing, except maybe a little more space in their home.
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I don't know how anyone can manage that. 30k would barely cover health insurance if there were 4 kids in my family.