Im telling you the 401k plans was never meant to be your solely retirement option, it's suppose to supplemental. Just being very social and around older people, I can tell u that you're not retiring with a big azz mortgage.
At 65: A House Paid for and low bills > 401k Retirement Fund
- Thread starter Stuntone
- Start date
Im telling you the 401k plans was never meant to be your solely retirement option, it's suppose to supplemental. Just being very social and around older people, I can tell u that you're not retiring with a big azz mortgage.
In college one of my finance professors put it like this.
Each retirement/ savings plan is a leg. You can't have a sturdy chair with just a single leg. You need at least three, 4 is even better.
Obviously meaning. don't put all your eggs in a single basket. You should diversify, don't just rely on a single plan
Each retirement/ savings plan is a leg. You can't have a sturdy chair with just a single leg. You need at least three, 4 is even better.
Obviously meaning. don't put all your eggs in a single basket. You should diversify, don't just rely on a single plan
#BOTHSIDES
Superstar
That’s why Americans are retiring abroad.
I’m in Mexico now…. We are getting fukked. By American cost of living
Edit: the coli said buying a home is a scam
I’m in Mexico now…. We are getting fukked. By American cost of living
Edit: the coli said buying a home is a scam
sayyestothis
Free the guys
Buy a house at 30 paid off at 60. Retirement without debt is easy for the general American.
401k keeps u with skin in the game tho for the folks that don't save already.
401k keeps u with skin in the game tho for the folks that don't save already.
Richard Glidewell
Yall done tore all the bottom of ya shoes w/me!!!
I can respect it.........once this house appreciates........I can sell and take the profit and downsize without the house note........
Ezekiel 25:17
Veteran
I agree somewhat. Paid off house and low bills, you can work a part time job and be good. You still want some type of 401k though, even $500k drawing in 4% is $1500/month.
Social security might not be around.
Social security might not be around.
Brolic
High Value Poster
In this economy the average American can’t afford to buy a house at 40
sayyestothis
Free the guys
40??? Lol sounds like the average American not taking life seriously if it takes til 40In this economy the average American can’t afford to buy a house at 40
401k is such a scam, because of all the major variables missing the math equation. You dont know how long you're going to live, so u can gauge how much u need.
You invest 30+ years and die 5 years after retirements.
You invest 30+ years and die 5 years after retirements.
Richard Glidewell
Yall done tore all the bottom of ya shoes w/me!!!
That's always the thing my mind focuses in on........retirement age is what it is because they want you to die before then and never collect any money or benefits........it's the reason they still attempting to push the age back again......401k is such a scam, because of all the major variables missing the math equation. You dont know how long you're going to live, so u can gauge how much u need.
You invest 30+ years and die 5 years after retirements.
You got an interest free mortgage breh?
Isn’t the goal to have all 3, when did it become an either or
