Retirement investing...

[Dave Hess]

Well there are plenty of people out there who cannot make enough money to pay the bills, rent and put money away at the same time. Not saying the people you're talking about don't exist but I find it quite arrogant to paint everyone with the same brush, especially if you're from a generation that would have had a very good opportunity to put money away in the long run.

One thing that seems to never change is people getting old and then pointing the finger at the younger generations. Since I'm no longer young and not yet old I get to work with older people and people half my age and I don't get this generational prejudice.

Yes, what I said is a little arrogant.

——————————————-

I once told some employees (mid to late 20’s) at my job that I put approx $800 per week towards retirement.
They all looked at me as my skin was green and I had antennas on top of my head.

I try to give them free, very high quality advice on saving for their future.

 

[99Saturn]

Yes, what I said is a little arrogant.

——————————————-

I once told some employees (mid to late 20’s) at my job that I put approx $800 per week towards retirement.
They all looked at me as my skin was green and I had antennas on top of my head.

I try to give them free, very high quality advice on saving for their future.

$800 a week - that's it?! C'mon. They were probably worried you didn't save enough earlier in life and were playing catch up now.

 

[Ws6]

Well there are plenty of people out there who cannot make enough money to pay the bills, rent and put money away at the same time. Not saying the people you're talking about don't exist but I find it quite arrogant to paint everyone with the same brush, especially if you're from a generation that would have had a very good opportunity to put money away in the long run.

One thing that seems to never change is people getting old and then pointing the finger at the younger generations. Since I'm no longer young and not yet old I get to work with older people and people half my age and I don't get this generational prejudice.

Nah, I think he was talking about people like me. I spent a ton of money on stuff that made me happy in the moment vs investing. Like a new z06 for my 25th birthday, etc. But you know what? I could die tomorrow. And I wanted to balance planning vs living. Im very okay with how it's gone.

 

[gmt800lover]

Yes, what I said is a little arrogant.

——————————————-

I once told some employees (mid to late 20’s) at my job that I put approx $800 per week towards retirement.
They all looked at me as my skin was green and I had antennas on top of my head.

I try to give them free, very high quality advice on saving for their future.

You told them to put almost 80% of what my current weekly income is away for retirement and you are surprised that they looked at you funny?
I'm feeling like a joke must have gone right over my head? Back when I was that age that would have been more than my take home pay per week.

 

[Ws6]

You told them to put almost 80% of what my current weekly income is away for retirement and you are surprised that they looked at you funny?
I'm feeling like a joke must have gone right over my head? Back when I was that age that would have been more than my take home pay per week.

He works in the medical field. I presume he was addressing people who could put 800wk away if they drove a beater, and bought a cheaper home or rented a cheaper apartment and didnt go on vacation all the bloody time or order out every shift. He's not wrong. But we can also end up dead by 40 and have nothing but a miserable trash life to show for it, so I reject his advice. Just imagine always planning for the future as you deal with hell at work, and go home in your junk car to your Poverty Pointe apartment, all for some future you'll end up drinking yourself to death before you ever see. Not for me mate. Im enjoying what I am capable of finding joy in, right now. Today.

As evidenced by this thread, Im also trying to plan for the possibility that I don't die before Im 60, too, but its not my #1 concern. Just a possibility I don't want to be completely unprepared for if it occurs.

 

[gmt800lover]

He works in the medical field. I presume he was addressing people who could put 800wk away if they drove a beater, and bought a cheaper home or rented a cheaper apartment and didnt go on vacation all the bloody time or order out every shift. He's not wrong. But we can also end up dead by 40 and have nothing but a miserable trash life to show for it, so I reject his advice. Just imagine always planning for the future as you deal with hell at work, and go home in your junk car to your Poverty Pointe apartment, all for some future you'll end up drinking yourself to death before you ever see. Not for me mate. Im enjoying what I am capable of finding joy in, right now. Today.

As evidenced by this thread, Im also trying to plan for the possibility that I don't die before Im 60, too, but its not my #1 concern. Just a possibility I don't want to be completely unprepared for if it occurs.

I didn't have the context lol. Medical field is different for sure.

 

[Astro14]

Well there are plenty of people out there who cannot make enough money to pay the bills, rent and put money away at the same time. Not saying the people you're talking about don't exist but I find it quite arrogant to paint everyone with the same brush, especially if you're from a generation that would have had a very good opportunity to put money away in the long run.

One thing that seems to never change is people getting old and then pointing the finger at the younger generations. Since I'm no longer young and not yet old I get to work with older people and people half my age and I don't get this generational prejudice.

Oh, please. This is some epic whining.

“Very good opportunity” to put money away? Really?

When I was paying 9 1/2% for the mortgage on my first house? When my IRA was limited to $2,000/year and was non-deductible because I was covered by a pension? When a 401(k) was not offered by my employer (USN)? When I learned about personal finance by going to a library and borrowing books?

When I drove a 1970 Ford with no AC (not equipped) so that I could put away that whopping $166/month into my IRA, while still affording to raise kids and pay for things like diapers?

You live in an age of Roth IRAs, and Roth 401(k), with much lower interest rates. You live in an age of incredibly cheap consumer goods.

You live in an age of information.

You claim to be against generational prejudice and then are absolutely espousing generational prejudice when you say that older folks had “very good opportunity”.

I’ve lived through several decades as an adult, and this current time offers more opportunity, more information, more possibility than any previous.

Take advantage of it.

 

[Ws6]

Oh, please. This is some epic whining.

“Very good opportunity” to put money away? Really?

When I was paying 9 1/2% for the mortgage on my first house? When my IRA was limited to $2,000/year and was non-deductible because I was covered by a pension? When a 401(k) was not offered by my employer (USN)? When I learned about personal finance by going to a library and borrowing books?

When I drove a 1970 Ford with no AC (not equipped) so that I could put away that whopping $166/month into my IRA, while still affording to raise kids and pay for things like diapers?

You live in an age of Roth IRAs, and Roth 401(k), with much lower interest rates. You live in an age of incredibly cheap consumer goods.

You live in an age of information.

You claim to be against generational prejudice and then are absolutely espousing generational prejudice when you say that older folks had “very good opportunity”.

I’ve lived through several decades as an adult, and this current time offers more opportunity, more information, more possibility than any previous.

Take advantage of it.

https://www.consumeraffairs.com/finance/comparing-the-costs-of-generations.html
https://www.nar.realtor/newsroom/fi...toric-low-of-24-as-buyer-age-hits-record-high

 

[Mechanician]

He works in the medical field. I presume he was addressing people who could put 800wk away if they drove a beater, and bought a cheaper home or rented a cheaper apartment and didnt go on vacation all the bloody time or order out every shift. He's not wrong. But we can also end up dead by 40 and have nothing but a miserable trash life to show for it, so I reject his advice. Just imagine always planning for the future as you deal with hell at work, and go home in your junk car to your Poverty Pointe apartment, all for some future you'll end up drinking yourself to death before you ever see. Not for me mate. Im enjoying what I am capable of finding joy in, right now. Today.

As evidenced by this thread, Im also trying to plan for the possibility that I don't die before Im 60, too, but its not my #1 concern. Just a possibility I don't want to be completely unprepared for if it occurs.

As Mr. Miyagi always taught - the key to life is balance.

 

[Ws6]

As Mr. Miyagi always taught - the key to life is balance.

I am definitely Yin and Yang.

 

[Dave Hess]

OK, I was a little harsh but I feel young adults need to take retirement seriously.

I convinced about 5-6 people at work to open Roth IRAs…. and 2 opened Roth IRAs for their stay at home wife.

My $800 per week contribution was between my full time job and from my small business.
2 sources of income, not bragging.

I agree lots of research and resources are available on the internet with a couple of clicks for those wanting to gain valuable knowledge of how to get started investing.

 

[Dave Hess]

He works in the medical field. I presume he was addressing people who could put 800wk away if they drove a beater, and bought a cheaper home or rented a cheaper apartment and didnt go on vacation all the bloody time or order out every shift. He's not wrong. But we can also end up dead by 40 and have nothing but a miserable trash life to show for it, so I reject his advice. Just imagine always planning for the future as you deal with hell at work, and go home in your junk car to your Poverty Pointe apartment, all for some future you'll end up drinking yourself to death before you ever see. Not for me mate. Im enjoying what I am capable of finding joy in, right now. Today.

As evidenced by this thread, Im also trying to plan for the possibility that I don't die before Im 60, too, but its not my #1 concern. Just a possibility I don't want to be completely unprepared for if it occurs.

Yes I work in healthcare…... but luckily not dealing with humans.
I am the very last person that should be caring for a human.

We all have a different game plans for retirement.
The ultimate plan is to get to the finish line with your sanity intact.

 

[zzyzzx]

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