The 401K worked for me. Despite a relatively modest salary for my profession, I was able to retire comfortably at age 55. Success wasn't helped by an unexpected divorce so avoid if possible. Did a lot of day trading and some longer period week trading because I believed it was worth the risk. Don't believe I ever held a position over one month. A couple more years working if I lost, but if I won, the benefits could be huge. In essence, a small penalty for losing vs a potential loaded bases home run. No margin trading, wasn't willing to roll dice that big. Early success provided a safety net which allowed me to be more aggressive with outside equity that purchased farm real estate. Knew if things went sour on the outside, the 401K would allow us to survive. Requires some effort but market volatility can be your friend; eg, the last couple years I decided to play again and took a very modest portion of my 401K and aggressively traded it; very similar to what I did when employeed. Return on these dollars was 28% last year and 33.5% this year. Unwilling to risk it all because I've won and don't need the stress. It is largely entertainment. But if I had only limited dollars and hated going to work every day, it would again be all be on the table.
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Today's Featured Article - What Oil Should I Use? - by Francis Robinson. I keep seein this question pop up over and over again in discussion groups all over the web. As with many things there are often several right answers and a few wrong ones. Some purist I'm sure will disagree to no end with what I will tell you but most of us out here in the real world don't really care do we ? Some of them only bring their noses down out of the air long enough to look down them anyway. If you are like me you are only doing this old tractor stuff because you enjoy it. You
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