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Strategies & Market Trends : Dividend investing for retirement -- Ignore unavailable to you. Want to Upgrade?

To: chowder who wrote (9245)	6/14/2011 11:43:26 AM
From: Bread Upon The Water	Read Replies (1) \| Respond to of 34328

I had a talk worked up called "The MacDonald's Millionaire". When your kid graduates from HS you tell him college is mostly on you (kid has to work some part time during school 10 hours a week or something--and full time in the summer), but that he has to work for two years first (like even if its flipping burgers at MacDonald's) and fund a Roth to the max those two years (5k) each year. And 1k each year in a traditional IRA. (Kid lives rent free at home if he wants) You then show the kid that if he leaves the money alone until he is 65 he's a roughly a millionaire even if he never saves another dime--because of the time factor involved using the historical 10% return from the stock market over 45 years. Ran it up the flag pole with relatives--no one liked it--everyone had this or that objection to it--so I shelved it. Maybe it was the way I presented it.