Quote from: BitcoinBullion on November 10, 2015, 03:42:42 AM

Quote from: DebitMe on November 10, 2015, 03:17:55 AM

I absolutely keep a retirement account. It scares the hell out of me when you hear facts like 60% of American's don't even have $1000 saved, much less a retirement account. My employer makes contributions into it as well, so why wouldn't I have one? Assuming bitcoin continues to take off, I would hope that my fund managers would invest in bitcoin and I could reap the rewards, and if it fails, then I have my retirement money to fall back on.

Currently at the age of 26, I am estimating needing close to 6 to 7 million to retire properly at age 65. Long way to go, but that's why you start it now, so you have time to let it compound. Also that's minimum, I would eventually like to buy a condo in Hawaii and Myrtle Beach. That is an extra 2.5M and 500k respectively. That seems like a large amount of money, but I plan to be a millionaire by the time I am 40 by continuously maxing out my Roth IRA contributions and then pouring the excess into my 401K. If you can learn to live without needing that money, it is really easy to save and you never even know its not getting paid to you.

My Roth if maxed out from now till Im 60 would only get my $650k. I would rather use the money to buy real estate. I guess your plan is to just do it all? I kind of like that, guess I could keep my Roth as a supplemental plan to my overall wealth building strategy. Just wondering if the $5500 a year would be better off elsewhere.

You must be around 37 to 38 then? I thought about that and it seemed off, but that makes sense if your older. Just 5500 a year with 8% interest puts me at 1.6M at 65. Not a bad start. I don't have time to manage real estate unfortunately. I also don't have the skills to do regular maintenance unfortunately as well. I would love to own real estate and rent out units, but I just don't have the necessary skills to maintain the units.