April 4, 2007
Investing for retirement
Back when I was in my twenties and waiting tables at night to supplement my day job, I had an investment plan. I opened a mutual fund account and also put a little money into a savings account from time to time. That worked quite well for me for about ten years, then my mother got sick. My family promised to help when I quit my job to become her caretaker, but they didn’t come across. During her illness I used up all of my savings and was worried about losing the home I was renting. That didn’t happen, but when Mom died I found myself in dire straights and with no savings at all. That was a couple of decades ago. I make a decent living these days, but have never re-established a financial plan.
My current situation is this: I’m in my early fifties. I own a small business that is seven years old. I have no retirement plan, no benefits at all. I have one son. I know that he would put himself in the poor house to take care of me if the need ever arose, but that’s my worst nightmare. I don’t want to become the burden that makes him have to start all over as I did. I’m not getting rich, but I’m making a living these days. I’ve plowed my modest profits back into my business and into fixing up my raggedy house. When I re-financed the house I borrowed some extra to get health coverage and set up a retirement plan. The money is still sitting in the bank while I try to decide how to proceed.
My banker has recommended some modest and safe savings options. The interest on those is also modest, in the 2-3% range for small investors. That’s a good place to start, but, with less than ten working-years left in me, it will not provide the kind of money that I will need to retire. In order to accumulate a decent retirement income I will need to take some risks. I’ve been looking at several options. Global Futures Exchange and Trading Company, Inc. is one of those options and I like what I’ve learned about them. First and foremost, working with their firm I can minimize my risk by distributing my investment money into several different plans. With a minimum initial investment of $250 I can open an account to test the waters. They will set up a demo that will let me explore several investment scenarios and see how they will perform based on current market trends. I am most interested in forex and futures trading because they offer the highest possible return, essential in my situation with only a few years available to build my nest egg. Living in Hawaii, I’ve learned to deal with the frustration of squeezing my business contacts with the mainland into a shortened day. With GFE&T that won’t be a problem because they offer 24/7 live support. They’re very up front in advising their clients that “There is risk of loss trading Futures, options and forex,” but without an element of risk I know that I will never achieve my goals. Initital contact can be establish by emailing them at GlobalFutures@GlobalFutures.com or by a one-click option on their website.
I’ve shared one of my basic philosophies with you before. I believe that everything happens for a reason. It’s therefore no coincidence that I found the opportunity to create a post about Global Futures Exchange and Trading Company, Inc. at a time when these matters are very much on my mind.
[tags]investing, finance, futures, forex, trading[/tags]
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