"In the richest country in the history of the world, a secure and dignified retirement should be available to every American, not just the extremely wealthy."
Living expenses > income. It’s not complicated math. You can’t save when you don’t have enough to live and already putting off things like car repairs, health care, hair cuts, buying clothes…
I think you just figured out why we’re doomed. Don’t assume I have spent my life doing this, I’ve tried to stay out of poverty for most of it. Now that I can, I do. Those who have good pay right after college spend their lives paying in.
The trick is to set aside something, anything, no matter how small, to start. Then whenever you get a raise, set aside part of that so you will never have seen it or spent it.
Your most powerful weapon is not how much you can set aside now, but how early you can start. Investments over the length of your career can turn a little into a lot. Get started now, no matter how small, and use time as your greatest weapon.
Most people here decided they’re better than those with less money than them and it’s fine to blame those less fortunate for “thier mistakes”. It’s pretty depressing.
The only person I see being blamed obviously fucked up their 401k, or is complaining that they added a couple hundred dollars over the course of decades and don’t have a ton of money.
It has nothing to do with them being poor, but with them fucking up and then trying to claim they are the victim.
I’ve always made decent money, so admittedly it has been easy for me, but my first job, on the advice of our security officer (of all people lol) I immediately put 10% of my income into my 401k. So I went from making no money to 90% of what I had negotiated and learned to live on that. Every raise I got, I increased the amount so my raise was smaller, but my savings larger.
You were certainly putting in minimums. You should be aiming for 10%-15%.
how the fuck do you set aside 15% of your paycheck to invest in something you won’t see for another third of a century? you mansa musa or something?
I am so confused here–this is what you do to prepare for the future. I guess you could blow it on women or something.
Living expenses > income. It’s not complicated math. You can’t save when you don’t have enough to live and already putting off things like car repairs, health care, hair cuts, buying clothes…
no i mean who HAS 15% of their paycheck available to spend. i ain’t bill gates, i have FOOD and RENT
I think you just figured out why we’re doomed. Don’t assume I have spent my life doing this, I’ve tried to stay out of poverty for most of it. Now that I can, I do. Those who have good pay right after college spend their lives paying in.
The trick is to set aside something, anything, no matter how small, to start. Then whenever you get a raise, set aside part of that so you will never have seen it or spent it.
Your most powerful weapon is not how much you can set aside now, but how early you can start. Investments over the length of your career can turn a little into a lot. Get started now, no matter how small, and use time as your greatest weapon.
Most people here decided they’re better than those with less money than them and it’s fine to blame those less fortunate for “thier mistakes”. It’s pretty depressing.
The only person I see being blamed obviously fucked up their 401k, or is complaining that they added a couple hundred dollars over the course of decades and don’t have a ton of money.
It has nothing to do with them being poor, but with them fucking up and then trying to claim they are the victim.
I’ve always made decent money, so admittedly it has been easy for me, but my first job, on the advice of our security officer (of all people lol) I immediately put 10% of my income into my 401k. So I went from making no money to 90% of what I had negotiated and learned to live on that. Every raise I got, I increased the amount so my raise was smaller, but my savings larger.
This is how you make it work.