Today in class we talked about the future and how it would help us a lot if we started investing at this age so that we could be more prepared. It's always better to start saving earlier because you end up getting more money. So Mr. Hallam made us write how much we would have to make every year to sustain our lifestyle and in how many years we would want to be able to retire. I put $50,000 every year to be able to live comfortably and I put that I wanted to be able to retire in 29 years which would make me 45. Then we used the MoneyChimp calculator and discovered how much we would have to save to be able to achieve that. Mine ended up being about $3,000,0000.
I talked to my father about opening a Vanguard investment account, probably for the retirement fund, and he thinks it's a good idea. He said that we will probably be able to do it during Christmas break. He's really glad I decided to open one because he knows the benefits of saving earlier.
This thanksgiving break I spent quite a lot of money because we had two days off and I took advantage of that to spend time with my friends and most of the time we went shopping.
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