Finance Questions

Question: Investing / Personal Finance: How realistic is my plan?

I am 17. I will go to college and major in finance, management, or economics. Meanwhile, I save up 15,000 those years (I can) and put it into my Roth IRA. After college, I put a few thousand a year into the IRA. During that time, I get a job somewhere in the market (likely for a firm) and begin working my standard investment account up to a million (inflation adjusted), and then live off the market average of 10% (100,000 before taxes, I plan on outperforming the market though). Then, hopefully before 40, I can retire and do a job for fun (always wanted to teach history). Plans will change if I end up being good at active trading, so I would quit my job early and I always have a back up plan with a degree.

Answer: Sounds great.

I wouldn't worry about not being able to beat the market. Practically anyone who spends the time to research it can do it.

You plan sounds good though. I heard a study somewhere that some scientist asked a group of college graduates what their future plains were.

Only 5% had plans for the future. After many year those 5% had a higher net worth then the other 95% combined.

Your on the right track Good luck

Personal Finance & Investing : How to Become Wealthy