Well over 12K at this point and I'm just settling in to stage 2 of the build. once stage 3 goes in were talking 20K plus, new axles larger wheels and the list grows and grows....

 

Try playing blackjack at the casino. It works really well in raising funds for Jeep Mods.

 

Currently I've got about $1000 in my Jeep right now...barely a scratch on the tip of the ice berg compared to some of the other Jeepers on here. I just calculated about roughly what it would take to get my Jeep where I want it and its about 10K...thats a LOT of money speaking from someone who is only 19 now if only someone in this damn country would hire me so I can get to working and saving up

 

As we all have that "wishlist", I can't help but wonder about the regular guy's retirment fund.

I hate to soap box it, but seriously, to the youth especially, make sure you are maximizing your savings for retirement. You'll quickly wish you had of. Atleast make sure you are getting the most of your company match (if you do have one these days).

I look at my list, and then my Ret. Funds and have trouble putting sooooo much consideration into modding if my future isn't taken care of. How much should you have? Divide your income by 10, then multiply by your age. Rule of thumb estimate. 21yo at 30K = ~60K (I realize this is propostorous, but as time goes on, it will make more and more sense) 30yo at 40K = ~120K.

 

Haha the faster I get to completing my jeep, the faster Ill be able to start saving for retirement!!!

But on the real, I wanna enjoy my young life so why not put some money into the things your into? Im just under 5k into mine... Next up is gears so thatll be another G. Somehow managin this workin and in school haha. Prob could be smarter with my money, but just empty every pocket!

 

no doubt, no doubt. There is a lot to be said about "we could all die tomorrow". It just seems people don't realize the power they are giving away so cheaply. A recent article on baby boomers starting to retire, most with no real savings and the drain that will create, and their future pains started me heavy into looking at what it really means.

If you are in your 20's, for every 1K you don't put say...in your Roth, you are giving away more than 4-15K at retirment. This is money you can not go back and put in. once the year has passed, it's gone, opportunity lost. 5K fun jeep mods is awsome!! I love that too. Starting off with possible 75K life deficit (or say 3 years of retirment money.... no so thrilling.

 

Let me answer that question: Consider an 18 year old that invests $2000 into a Roth IRA each year until he reaches the age of 30. Then he stops. Never invests another dime into that IRA--he just lets his earlier investment set and grow. Assuming the historical average stock market return of 9%, when he reaches age 66 he will have $896,311 in his Roth IRA account. All of that money is available to him for tax free withdrawal at age 59-1/2.

Now, assume this same individual wants to play while he's young. So he waits to start a Roth IRA until he's 30 years old. Then he invests $2000 into his Roth IRA each year until he retires at age 66. That's 36 years worth of investing--three times longer than the first scenario I described. At age 66 he will have $472,249--barely half the money for three times the investment!

Finally, a practical answer: I'm retired. I don't require my IRA money to live--other retirement income is sufficient because I paid off my debts before retiring at age 50 (yes, you read that correctly). I can now afford to pay cash for new vehicles (actually have for the past 20 years), and I use my IRA withdrawal to pay for "goodies"--like $10K in Jeep mod's this month.

 

x2 i agree,topic best left alone, I thought my harley was bad,the jeep is way worse of an addiction,i just cant stop

 

thats really interesting! Im only about to start college and if I keep on track this worries me. Im aiming to become a psychiatrist which has been my dream job for many years now and it requires medical school. So basically Il never get out of school or realistically enter the working force with full blown credentials and a firm job at the age of 30! granit starting pay is very nice as a doctor but after busting my ass the whole time i will have loans to pay off that are as high as my ego so the odds of me having even 2000$ to invest seems slim to none. Granit I have time to think about this and my career bath could change still Its just interesting and a little nerve racking to read that information and realize how old im gonna be when im fully educated

 

My name is Dylan and I am a jeepaholic