Conference nyoss1::market_investing

    Regardless of your income you can take control. One thing to do is save
    as much as possible in a safe place like an insured bank account. Once
    you've accumulated about 6 months living expense then you can start to
    consider long-term investing such as mutual funds. As long as you have
    income you can save if you committ to "paying yourself" a minimum of
    $100 a month. You'd be amazed how much you will have after 5 years.
    Especially if you put the money in a quality no-load mutual fund like
    20th century Select or Janus Twenty.
    Very few people have the luck or savy to get rich quick but anyone of
    any means can get rich slow by saving regularly in high quality
    investments. (all of the above would be in an Individual IRA so your
    savings will accumulate tax deffered until you need the money).
    	Dan D

If I didn't have a company retirement plan, I'd start right away to open an IRA,
preferably through direct deposit.  That way you don't miss the money, and you
would get some amount of it back as a deduction at tax time.

Elaine

    With 20 years to go and $25K of income, I don't see much hope of saving
    anything significant.  I would guess that even the $2000 IRA (that
    almost always would be the first recommendation) is out of sight.
    
    Since you ask what "I" would do, I would invest in myself.  
    
    If I did not already have one, I would go for a college degree at
    nights (I DID do that).  Statistically, the more "formal" education you
    have, the higher your income.  
    
    If college were out, I would go for some formal vocational training. 
    Plumbers, electricians, and other tradesmen can earn a fair income and
    pick up "folding money" jobs after retirement.
    
    Hope this helps, or at least generate some thinking...
    
    
    Dave

    I would agree with Dave. With $25K a year in income, there is very
    little room for play here. And the "minimum" living expense does not go
    down just because one doesn't make much. Increasing income is the way I
    would go. You said this person has about 20 years to go before
    retirement. This puts this person in his/her mid 40s. Going back to
    school "could be (but not necessarily)" a little late in the game.
    Maybe getting a higher paying job or a second job is a better
    alternative? I would also try to eliminate as much as possible or all
    of the debt. Especially the expensive ones (such as credit card debts). 
    Then, save up a "buffer" - maybe 6 months worth of living expenses
    (like other has already suggested). Then, start some serious saving and
    investing. I would first start with tax sheltered savings (like an
    IRA). Do whatever he/she can to save and invest wisely. Twenty years is
    not alot of time for building up a good size nest egg. 
    
    Mike

	.1-.4 all have sound advice. I would like to add one more thing: 
	a serious look at their expenses and trying to cut down as much as
	possible. E.g., if your friend has an expensive car, consider
	trading down to a less expensive car and invest the savings. Move 
	to a smaller, cheaper place if they are renting rather than in their 
	own home, and invest the savings. If they have life insurance, they
	may not need them, if they are single and have no dependents. Consider 
	cancelling the policy and invest the savings. You get the point. 

	Monitor the monthly expenses for 2-3 months and itemize the expenditures
	into categories such as food, gas, auto, entertainment, clothing, etc.
	Then make realistic attempts at cutting down the on non-essential ones
	like entertainment. Set a monthly expense goal of say 90% of their 
	current expenses and work very hard not to exceed that. Put the 
	savings in a mutual fund (with dollar cost averaging) even if it is 
	$50-100 a month. 

    As it was already said, the plan should be a consistent long-term 
    investing in a quality mutual fund. Suggest cutting monthly expenses
    (or getting extra income) by $100 or 150, then put this money thru the 
    automatic investment plan (e.g., via Janus Funds) into a fund producing 
    at least 10% annual return, and you can create some nest egg for 
    retirement.
    
    For example, save $1200/year ($100/mo) @10% for 20 years  = $ 68,730
    or           save $1800/year ($150/mo) @10% for 20 years  = $103,095
    
    
    
    That's not much, but better than nothing.
    

    Start and investment with as much as you can afford even if its only a 
    few bucks a week. Over 20 yrs you would be surprised what the balance
    would be.
    
    	on another note is there an .exe or .com file to show what the
    balances would be with differant % rates and money invested over years?

    Thank you for all the replys.  I will discuss them with this person
    this weekend.  
    
    
    Thanks