The most powerful tool young investors have is time, because savings can grow exponentially over decades. A 23-year-old Californian asked DailyFinance how to get started and make the most of those years, though her employer doesn't offer a retirement plan. Money & Happiness columnist Laura Rowley shows her how to play the game.

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October 12 2011 at 3:22 PM Report abuse rate up rate down Reply

Believe in this good news! Multiply your money investing in OIL. To answer you doubts get over yourself to my website “ Oil Trading Academy” and see what I have offer you. Know the Secret and BE RICH!

October 02 2011 at 10:30 PM Report abuse rate up rate down Reply
Chuck Smith

i have a good job with a pension but i save like like i will not get that or SS because the way things are going they might disappear and i don't want to be one of the persons who doesn't save because they are relying on those things. I save 800 a month. That includes my match. I currently only put that in my 401k but will switch that soon to make out a Roth then the rest in my 401k.

September 26 2011 at 2:33 PM Report abuse rate up rate down Reply

Don't let this video fool you into thinking you can withdrawal money from a Roth IRA at anytime. A penalty-free withdrawal from a Roth IRA can ONLY happen after the account has been open for 5-tax-years AND is:

1. Made on or after the date you become age 59 1/2; OR
2. Made to your beneficiary, or to your estate, after you die; OR
3. Made to you after you become disabled within the definition of the IRS code; OR
4. Used to pay for qualified first-time homebuyer expenses.

Target-date funds are also not the answer for inexperienced/unknowledgeable investors. Some target-date funds are managed to the date in their name, but others are managed as long as 15 years after the date in the name leaving investors with far too much money invested in risky stocks just before retirement. The average 2010 target-date fund lost over 20% of its value in 2008. That's just two years before an investor in the 2010 fund was planning to retire. Would you want to love 20% of your nest egg two years before retirement?

September 20 2011 at 9:20 AM Report abuse rate up rate down Reply

I those who plan to retire refuse to consider downsizing their lifestyles then if they bring on the consequences of their own demise. We have seen what investments in wall street can do to retirement savings. So if people want to gamble to get that big money they only have themselves to blame for their losses. But then again who are we talking about here ? Are we talking about the average joe who is considering retiring or are we talking about some dot come geek who just made 3 million and want to retire on his own island?

September 20 2011 at 8:19 AM Report abuse rate up rate down Reply

Tax the millionaires? Let's start where it began, how about a 25% cut in salary for all congressmen and a 50% cut in their expense account.

September 20 2011 at 7:02 AM Report abuse +3 rate up rate down Reply

Only way to guarantee your retirement is get rid of the republicans. They want to get rid of medicare and social security. The health insurance industry will not take care of you in your gray hair days. We need to keep these two programs running smooth. Not possible with republicans.

September 20 2011 at 6:44 AM Report abuse rate up rate down Reply

I have news for you folks. NOBODY is responsible for you but YOU. If you failed to take responsibility for yourself in life and plan ahead, then you have have nobody to blame but yourself. It is not your employer, your parents, your teachers, your church, or the government that is responsible for your retirement or your health care. If you lived your life counting on others to what you were responsible for then shame on you. You get what you deserve. All Americans should stand on their own two feet and stop blaming others for their failures as a human being. You people make me sick.

September 20 2011 at 5:13 AM Report abuse rate up rate down Reply

1) Don't invest in the stock market or let some rich bas...d plan for you; he'll get richer while you get poorer
2) Vote out the bas...ds (Tea Baggers/ Repukes) who are trying to eliminate ss., medicare; you paid into it & not them

September 19 2011 at 9:26 PM Report abuse -2 rate up rate down Reply
1 reply to Beebie's comment
Chuck Smith

How do you save for retirement then?

September 26 2011 at 2:36 PM Report abuse rate up rate down Reply

Retirement GAME? It is truly a matter of life and death. It is certainly not a game.

September 19 2011 at 7:44 PM Report abuse +1 rate up rate down Reply