On Jan 26, 6:07*pm, F. George McDuffee gmcduf...@mcduffee-

Actually you can save enough to have financial security on 50K$ a
year. *It just requires that you start saving and investing early in
life. *I don't think you can do it putting your money in a savings
account. *But you can do it by having some money put in a savings
account every week. *And then when you have a chunk of money, looking
for a good place to invest it. *Right now I would be looking at buying
rental property and investing some sweat equity in managing the rental
property. *Might be a bad idea in some parts of the country. But there
are lots of places to invest.

* * * * * * * * * * * * * * * * * * * * * * * * *Dan


As for the suggestion that the individual invest in other than
government insured instruments such as FDIC savings account and T
bills, for a higher return, I suggest looking at the record,
including the banks and quasi governmental operations such as
Freddy and Fanny. *Names like Enron, Silverado and LTCM also rise
to the top. seehttp://www.bankruptcyresources.net/2010/01/11/major-bankruptcies/http://www.dirjournal.com/business-journal/some-major-us-companies-th...
andhttp://en.wikipedia.org/wiki/Savings_and_loan_crisis

Unka George *(George McDuffee)

If you want to get a reasonable return on your money, you have to put
in some effort. Many people will spend more time reading the sports
section of the paper than the financial section. They are probably
better off investing in a FDIC insured savings account. But if you
are willing to put some effort into investing, you will do a lot
better than investing in a savings account.

Think about it. What are the banks doing? They are taking the money
deposited in savings accounts and putting in some effort. They loan
the money out to people that the banks have determined are likely to
pay the money back. And thereby getting a higher return than they pay
on the savings accounts. The same applies to mutual funds. They do
the thinking for you and take some of the money.

I too suggest looking at the record. Say Iggy's record. Or Steve's
record. Or anyone that actually put some effort into investing.

Dan