What would you do with $50?
 

How about instead of wasting your money on a fucking video game or whatever, put it into an IRA account. I'm 18 and if I were to put $50 into an IRA account right now by the time I was in my mid 60's that account would have around $20,000 in it. $50 - $20,000. Quit wasting your money on pointless ass shit, for real. Read some books and make money. Let compound interest do the rest.

makes sense....next year imma do dat shyt....

yeah, some people r so stupid when it comes 2 money. im cheap az fuck, instead of buying food at skool n shit i save my money and go hungry, lol. and people waste so much money on weed, ommfg, im not complaining tho :cool: but god dam. werd

It'll be less than that, taking into account the inflation of prices...

yeh....but when I'm 30 I'm worth 3-4 mill ne ways....

Ima keep buyin 360 games

Of course it makes sense. If you put $50 in when you're 18 you'll have $20,000 when you're ready to retire. If you don't add ANYTHING else to that account over the fifty years that you wait for it to grow, you'll have around $20,000.

Imagine if you put in $50 a week, or every two weeks, or every month after you get a decent enough job. Or, maybe you want to up it to $100 a month or more. There are no limits. If you live below your means and invest your money in something worth while then you're financially set.

Newsflash..

20 grand isnt that much these days...........

Invest money in owning a business and taking a course... Your returns will be far higher as long as your idea is good...

ur a thinker u....

but I rather save 5 grand and put it on a 20-1 shot

It won't be that much less than $20,000. It wasn't that realistic of an example though, so it's all good. Who the fuck only puts $50 into an IRA account? Ahaha, if you're smart enough to get an IRA account then you're smart enough to add more then 50 fucking dollars in it over fifty years.

talking about money...i spent 7 dollars every 2 days for a pack of newports..and about 30 a week in weed dam...

Newsflash, I never said $20,000 was a lot. I said if you put in $50 when you're 18 by the time you're in your mid 60's you'll have around $20,000 and that's a hell of a lot better than $50. I don't need help with my money. Believe me. I just laid down a basic idea for anybody who cares.

There's so much more that people can do with their money, but it would take me literally hours to explain some of it.

havent u realized by now....

anytime u post summin intelligent....sum one has to come in and try to bash it....as a confidence booster within there own metality....

We all know your right....
And I apreciate the advice. But Im filthy ne ways....ya kno?

Fuckem.....your right....;)

Plus the fact that...you could die tommorow..why waste your life planning for a future that might not happen.

Wars, Death.. Happens constantly.

I live for today. You live for The Future.
That's Why I'm buying Games and shit.

20 grand my ass if u put in 50 quid based on the 50 n compund interest n wait till retirment u wud hav aroound 6000 n that is been very generous

yea def...go0od looken out on that advice that shit had me thinking...and 20,000 is a lot for someone who aint do shit for it...all you did was put 50 dollars up...think about it

yea I get 5 dollars a day for food.
I save it up for weed.... :(

word weed is hurtin my pockets...but fuck it

And that's also why when I'm 65 I'll be a millionaire and you'll still be bagging the shit that I decide to waste a few bucks on.

If you put $50 in an IRA account and let it roll for 50 fucking years you would have WAY more than $6,000. You don't know what the fuck you're talking about.

Ahaha, I didn't type that up for somebody who's going to be set for life in a few years. I just know not that many people are going to make it in rap, so why not put a net under you so if you're one of the ones who doesn't make it you'll still be fine. It's not like setting up an IRA account (or a 401k account) is a lot of work, so why not put some money into one of them? For a lot of people (including myself) this shit isn't a game. . I may never be famous and I may never be a celebrity, but I when I'm 80 years old I won't be working a shitty job because I lived pay check to pay check my whole fucking life.

Don't take my words out of context and believe that if you put $50 into an IRA account now, by the time you're 65 you'll be able to retire off of that $20,000. You won't. You'd have to keep putting in money as you grow older and you should be fine (as long as you avoid going into debt and live below your means). I just thought I'd share with you guys how a small amount of money now can turn into a decent sized amount of money later. Maybe think twice before you buy that next 360 game and ask yourself what it's going to be worth in 10 years. . 20 years. . I promise you that $20,000 is going to be a lot more useful when you're 70 then a fucking Xbox 360 game will.

yea weed is hurting my pockets...but fuck it it gets me high so0o i enjoy the time...

LOL watch all off active rv put like 500 bucks in it over the next few years and when we all pull it out we kill the economy that be ridiculous... but good lookin on that i'ma research it and do it

Compound interest rocks. It's money making money without you having to do anything. Those of you who were here a year or two back when we had the RV bank giving like 10% interest ended up with accounts with billions of dollars. If you are like me and totally suck at investing or don't have the time to do the research, you can put the the money into an index fund and forget about it.

There are roth ira accounts where the money you put in is already taxed, but all your money you earn in the account is tax free when you take it out. Currently the max you can put in is $4k a year, but imagine how much money you'll have if you just put in that $4k a year every year for like 30 years. Say you earn 8% a year on your investment. After the 30 years, you'll have almost $500k from the $120k you invested and it's all tax free. Play with the compound interest calculator and see for yourself

In addition to the money you put into the roth ira, if you work at a company that offers a 401k and they do matching of funds, that is like instant free money for doing nothing. And that money is pre-tax, so by contributing into the account, you are paying less taxes now, and also giving you even more cash for it to compound and grow. Even if your work doesn't have a 401k, you can set up a regular ira and take advantage of keeping some money away from the tax man.

It's never too early to start thinking about your future. The earlier you start the more time the money has to compound and grow. With people predicting social security going broke and less and less companies offering pensions, it's all the more important that you do your own saving. If you think it sucks having no money now, imagine being broke when you are old and feeble.

wtf is a roth ira imma check out google

Ahahaha, EXACTLY. The system for Social Security is so fucking flawed that you can't rely on that anymore. At least my generation can't. You can always rely on compound interest to get the job done, though. HELLZ YEAH!

bribe jen is a boss to suck my dick.

Nah..I got a fallback plan for money..bet that...

and it's not the rap game..College Certified BOY..plus I'm 15...

Fuck saving money..Spicca i'm still a kid...Imma live it up for a nother year..then hit the job circuit...guarenteed in the time it takes you get that 20,000 from that IRA account. I'll have more stuffed in a sock drawer of my house..

That's how i live..

That just might be the smartest shit I ever heard you say D.

by time im 60 20,000 is gonna be pocketchange