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Reply to "ISO: Advice for protecting long-term savings"
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[quote=Anonymous]You got lucky with precious metals, because government keeps printing money. It's time to start investing away from precious metals. If both of you max out your Roth IRA for the next 20 years, you will have over million dollars. One million dollars can give you $70k nearly tax free forever. Again, its not even about the precious metals going up, but that you discovered investing. The account you should use is Roth IRA, buy VOO, VTI, QQQ ionside of it (do your own research). My earned income averaged $30k for 30 years. Invested ca $400 a month, but unfortunately real estate first and then stocks. I'm at one million now. I learned so much from living on less and investing. Made many mistakes too. My kids won't have to make them, which saves them a lot of time and money. 18-year old started Roth IRA as he works while in college. Start reading personal finance books. Give your kids the knowledge and the experience, and maybe then the precious metals if you still have them after reading the books. I'm not touching real estate for example any time soon. Live and learn. [/quote]
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