Yep, I work 3 or 4 days a week and get attacked by the trolls here who post all day for it.
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Halloween with the Gromsdads
- Thread starter $kully
- Start date
We gather from your posts that you've been unsuccessful in your adult life. (are we incorrect.....genuinely asking) There is a difference between that and someone who can work less because of their success.
You gather that, scumbag! The only complaint I have is that the surf and fishing(recently) suck in NJ
manbearpig, at this age, putting in these kind of work hours, the best advice I'd give you from my perspective on the central finite curve is to be sure you're doing everything you can to pour that money in to long term retirement investments and then forgetting it exists. if you get started at that early and keep on it, the hard work you are doing now is going to buy you 20x as much easy breezy time later on.
I think that 25-35 is where a guy should be heads down grinding hard so you can really coast later
you're there
I think that 25-35 is where a guy should be heads down grinding hard so you can really coast later
you're there
wish somebody had sat me down at 25 and explained that to me.
The earlier you can set your course the better off you will be when you hit your 50s. I can coast in life now because of the moves I made in my 20s and 30s. I wasn't partying and spending foolishly in my 20s. My wife and I busted our asses, lived frugally and bought a house at 24 years old.
Yeah that is the goal, and I remind myself that to keep hammering. I slipped up yesterday, it happens.
As if you’d ve listenedwish somebody had sat me down at 25 and explained that to me.
(Speaking for myself at least)
Everyone told me to go all in on 401k
I didn’t have the money
You certainly didn’t spend it on education or culture.
thats the thing - wasnt in a place at 25-35 to start doing any meaningful investing. I was in a ton of debt and working my way out of it.
I was a few years into game at that point and had suddenly found myself out of college debt with $10K in a savings account. It was like, "Do I sell the tired motorbike and get a brand new one, then travel about like I had wanted to ever since, well, since I read all those books in grade school about seeing the world?"wish somebody had sat me down at 25 and explained that to me.
I pondered that and asked myself 'what comes after that, and after that, and then, after that'.
Actually, I went into my Well Fargo bank and asked to speak with a financial advisor, and he more or less talked me out of keeping my money there by being so paternalistic and unhelpful (moved all of it to a credit union). Bought a boring Intro to Stocks, Bonds, Mutual funds, Retirement type book , then dumped half of that $10K into a small cap mutual fund, then other $5K split between medium cap and large cap mutual funds.
Then as I kept trying to figure things out, had small adventures here and there, met Sweetie-pie, kept adding to the funds and 6 yrs later had enough for a down payment on a home.
Would totally recommend any parent talk to their kids about finances as soon as they can. No need to be super specific early on, keep the biases in check, and while introducing new concepts to the kid as time goes on, you can easily self-educate yourself into greater understanding.
Yeah, there is this. Kids listening to parents about money? Well, some of us listened a little bit if only because dear old mom grew up in the Depression and never let us forget how lucky we were to have breakfast, lunch, dinner, AND dessert.
When work finally got a decent 401k plan, scheduled an appointment with the advisor and asked him what would be one thing that would cause you not to max out the contributions, he was like, "Uhhhhhh, maybe you need the money now?"
I was thinking there would be a better answer than that and was glad I had already started the mutual fund thing on my own.
Does spending some on low brow culture count? Took Sweetie-pie to Jim Rose Circus Sideshow on one of our first "big" dates.
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my friend "pays" his kids a small salary each year so they can file a 1040EZ and, thus, can contribute to a ROTH IRA each year
he's already building a retirement bucket for them
the ROTH is cool because I believe you can take/borrow against principal without penalty which means there could be a big nut there in 20 years when they want to make a downpayment on a house, too
my mom and grandmother both worked at banks...we used to get fkn CDs for birthdays....NOT COMPACT DISCS...so lame...but I was raised by 'savers'
the problem with these accounts is that they are in the kid's name so at some point they get full control of the account from the parent....I'm not really trying to hand my 25 year old 100k...I'd rather keep it a secret or just have a savings account set up for them so that I can pick and choose when and how they touch it up to a point
i would have listened to my dad, but he just never gave that kind of advice.
regarding 401k, when i was in mid-divorce 20-some years from the first ex-Mrs. Sussle, i decided i really needed that extra $150 a month or whatever it was and stopped my 6% contribution for a few years, which in turn stopped the 6% match from company . dumb, dumb, dumb. that was free money - should have toughed it out. that 12% percent, plus whatever the stock market did in those years surely cost me thousands in retirement $'s.
I honestly don't remember the details. But if you've got a company-provided 401k as I did (and I don't think there is any other kind), then there is surely a matching company contribution...typically 5-6%. That's flat-out stone-free money....there is no scenario I can think of that makes it worthwhile to leave that on the table. There's lots of people who don't take advantage of it, always surprises me.
The program I was in you could put up to 10% of your pretax income, the company matched up to 5% and another 5% on top of that. My dad told me always put the max, if you miss it you’re doing something wrong. I did, never missed it. Got me where I am today. Thanks dad.
right - forgot that part. it's pretax dollars, which also reduces your taxable income for that year.