Mainecat Posted January 31, 2019 Share Posted January 31, 2019 Interesting.... https://www.dallasnews.com/business/personal-finance/2019/01/30/falling-behind-much-peers-put-away-401ks Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted January 31, 2019 Share Posted January 31, 2019 if you are 50 and only have 63k you best save 50 cents for a 9mil cartrage or enjoy life in a van down by the river Quote Link to comment Share on other sites More sharing options...
teamgreen02 Posted January 31, 2019 Share Posted January 31, 2019 15 minutes ago, Mainecat said: Interesting.... https://www.dallasnews.com/business/personal-finance/2019/01/30/falling-behind-much-peers-put-away-401ks But how is this capitalism's fault and the government needs to step in and fix things? Here's an idea, let me take the 12.4% of my salary that goes in to social security and let me put it in my 401k. But who is going to cover social security they will say? They keep saying it is not a ponzi scheme and those people payed into it but the politicians spent it. Maybe they should have voted for politicians who didn't spend it? Now it's my problem and they need to steal from my retirement to fund theirs? Who is funding mine? 2 Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted January 31, 2019 Share Posted January 31, 2019 That chart is a bit frightening. There’s going to be many hurting people. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted January 31, 2019 Share Posted January 31, 2019 fuck this, i have more than that in my employer i've been at 5 years how you can work your while life and be late 40's with $100k in retirement is nuts. i've got 7 figures in retirement funds and still don't feel secure. Ages 40-49 Average 401(k) balance: $106,200 Median 401(k) balance: $36,900 Another solid jump by this age range, with both figures more than doubling — the last time we'll see a percentage jump that large between age ranges. That's likely at least partially a product of peak earning years: According to compensation research company Payscale, for women, pay tends to peak at age 39; for men, age 48. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted January 31, 2019 Share Posted January 31, 2019 6 minutes ago, Angry ginger said: fuck this, i have more than that in my employer i've been at 5 years how you can work your while life and be late 40's with $100k in retirement is nuts. i've got 7 figures in retirement funds and still don't feel secure. Ages 40-49 Average 401(k) balance: $106,200 Median 401(k) balance: $36,900 Another solid jump by this age range, with both figures more than doubling — the last time we'll see a percentage jump that large between age ranges. That's likely at least partially a product of peak earning years: According to compensation research company Payscale, for women, pay tends to peak at age 39; for men, age 48. The real challenge could be health care costs Quote Link to comment Share on other sites More sharing options...
Wildboer Posted January 31, 2019 Share Posted January 31, 2019 I could have found out if that failing news organization didn't demand people who use adblockers pay for a subscription... Wait, I already know my 401k is nonexistent, thank god I have a Roth IRA and other tax advantaged retirement strategies... Quote Link to comment Share on other sites More sharing options...
Mainecat Posted January 31, 2019 Author Share Posted January 31, 2019 11 minutes ago, ActionfigureJoe said: That chart is a bit frightening. There’s going to be many hurting people. As I have said in the past. Trying to get employees to put 10.00 a week in their 401k was like pulling teeth. They would spend 40 a week on scratchers. 1 Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted January 31, 2019 Share Posted January 31, 2019 1 minute ago, Wildboer said: I could have found out if that failing news organization didn't demand people who use adblockers pay for a subscription... Wait, I already know my 401k is nonexistent, thank god I have a Roth IRA and other tax advantaged retirement strategies... I started maxing out the Roth beginning at age 32. All my student loan money went right there after it was paid off. Never missed it. 1 Quote Link to comment Share on other sites More sharing options...
Wildboer Posted January 31, 2019 Share Posted January 31, 2019 Just now, ActionfigureJoe said: I started maxing out the Roth beginning at age 32. All my student loan money went right there after it was paid off. Never missed it. Smart Move Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted January 31, 2019 Share Posted January 31, 2019 2 minutes ago, Wildboer said: Smart Move I think most people would be surprised as to how little they can live on. And live comfortably. Most people havent a clue where their hard earned cash is spent. They don’t pay attention 3 Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted January 31, 2019 Gold Member Share Posted January 31, 2019 I plan on 401 as fuck off money for me. Not calculating it in my retirement. It’s all getting drawn out when I retire to fucking spend like a crack whore on shit and stuff. Plan on having a couple pensions coupled with SS will easily cover my expenses. Wife’s 401, pension and SS will prolly all be fuck off money as well. Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted January 31, 2019 Share Posted January 31, 2019 I have a bit over the norm in 401k . but I invested on property for my retirement. I know shit about matkets so never felt secure in them. know a lot about property always felt secure investing in them . could prob stop full time working today and just collect rent and fix shit . but why I still sort of like working . my wife has invested only in the markets and has done so so . looking at the returns between us I would tell any young person to start buying buildings as soon and often as you can no question Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted January 31, 2019 Share Posted January 31, 2019 14 minutes ago, Ez ryder said: I have a bit over the norm in 401k . but I invested on property for my retirement. I know shit about matkets so never felt secure in them. know a lot about property always felt secure investing in them . could prob stop full time working today and just collect rent and fix shit . but why I still sort of like working . my wife has invested only in the markets and has done so so . looking at the returns between us I would tell any young person to start buying buildings as soon and often as you can no question I’ve had some buds that retired at 48-50ish. They’re fucking train wrecks now. I’ll work as long as I can. Maybe part time. 1 1 Quote Link to comment Share on other sites More sharing options...
Whiskey Tango Foxtrot Posted January 31, 2019 Share Posted January 31, 2019 Phuket! Cash all your investments in, move to Thailand and sit on a beach getting massages by Asian ladies for the rest of your days. With a roughly 30:1 exchange rate, I reckon most here could live quite comfortably in a tropical paradise! https://en.m.wikipedia.org/wiki/Phuket_Province Quote Link to comment Share on other sites More sharing options...
Wildboer Posted January 31, 2019 Share Posted January 31, 2019 10 minutes ago, ActionfigureJoe said: I’ve had some buds that retired at 48-50ish. They’re fucking train wrecks now. I’ll work as long as I can. Maybe part time. Pathetic. If you can't find a good reason to enjoy life without the "purpose" working gives you should just kill your fucking self. Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted January 31, 2019 Share Posted January 31, 2019 yeah I have a few buds who are done already . the ones who still at least dabbel in side projects are doing fine . the ones who just get there pension or what ever and sit at the cabin are just drinking the time away . I also have 2 buds who have only worked 3 mo a yr our whole life . I sort of envy them lol the whole winter out west spring early summer mn then 3 mo of work and back to vacation . Quote Link to comment Share on other sites More sharing options...
Whiskey Tango Foxtrot Posted January 31, 2019 Share Posted January 31, 2019 In my experience, a three week trip to Thailand will cost you about $1,610 USD which works out to about $77 USD per day. That price may seem high, but your flight will likely be 50% of your budget. If you exclude the cost of the flight, then you're looking at roughly $39 USD per day. Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted January 31, 2019 Share Posted January 31, 2019 (edited) 7 minutes ago, Wildboer said: Pathetic. If you can't find a good reason to enjoy life without the "purpose" working gives you should just kill your fucking self. just playing gets old in a hurry . especaly if your buds still have to work . I have buds who have never had to do shit but wake up and shit. all pretty fucked up . would be nice for a yr or so but from what I see as a close bud all the boats cars sleds and aircraft don't fill the gap of self worth . same goes for the guy getting a welfare check with out accomplishment there us no self worth . Edited January 31, 2019 by Ez ryder Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted January 31, 2019 Share Posted January 31, 2019 1 minute ago, Whiskey Tango Foxtrot said: In my experience, a three week trip to Thailand will cost you about $1,610 USD which works out to about $77 USD per day. That price may seem high, but your flight will likely be 50% of your budget. If you exclude the cost of the flight, then you're looking at roughly $39 USD per day. hell sounds cheep a week our west cost me more than that . not including the cost of the sleds and trailers and gear lol . and now that back pages is gone there is no comparison in that department 1 Quote Link to comment Share on other sites More sharing options...
Wildboer Posted January 31, 2019 Share Posted January 31, 2019 (edited) 4 minutes ago, Ez ryder said: just playing gets old in a hurry . especaly if your buds still have to work . I have buds who have never had to do shit but wake up and shit. all pretty fucked up . would be nice for a yr or so but from what I see as a close bud all the boats cars sleds and aircraft don't fill the gap of self worth . same goes for the guy getting a welfare check with out accomplishment there us no self worth . All poisoned mindsets. Trained to value enslavement to duty over freedom of choice. It's sad. Edited January 31, 2019 by Wildboer Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted January 31, 2019 Share Posted January 31, 2019 20 minutes ago, Wildboer said: All poisoned mindsets. Trained to value enslavement to duty over freedom of choice. It's sad. no just a reality . self worth is not a trained value Quote Link to comment Share on other sites More sharing options...
Whiskey Tango Foxtrot Posted January 31, 2019 Share Posted January 31, 2019 23 minutes ago, Ez ryder said: hell sounds cheep a week our west cost me more than that . not including the cost of the sleds and trailers and gear lol . and now that back pages is gone there is no comparison in that department Yup! Even at 80 USD per day, I would die from pad Thai fatness or cheap Taiwanese hooker AIDS before I burned through my liquid retirement fund! Quote Link to comment Share on other sites More sharing options...
Wildboer Posted January 31, 2019 Share Posted January 31, 2019 6 minutes ago, Ez ryder said: no just a reality . self worth is not a trained value You would be surprised what The Protestant Work Ethic has brainwashed people into believing. Quote Link to comment Share on other sites More sharing options...
racinfarmer Posted January 31, 2019 Share Posted January 31, 2019 It would be interesting to hear how many of the 20-29 year old group or even the younger half of the 30-39 year old group took a personal finance class in any form of their education. Or even learned how to balance a check book in high school home ec. Quote Link to comment Share on other sites More sharing options...
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