At a certain point you can only cut down your expenses so low. Like whether you made your own coffee at home versus buying a $4 latte at Starbucks or you chose a cheaper cable plan probably not gonna make that much difference compared to spending your energy figuring out how to create more income
so basically only certain people deserve just a little bit of luxury in life
You don't understand compound interest.You are putting in 250k a year?
The fact that medical bills can wipe you out is even more of a reason to tighten up and invest. Obviously you have a different scenario playing out if you were born with a condition or get hit with something before you really cake from you career, but not all medical expenses are immediately ruinous. Its like when its quoted most Americans dont have 1k in savings. If you suddenly get hit with a 3k bill you cant pay and you dont know how or dont bother to work out a payment plan(or the provider wont work it out), having that debt be passed to collectors or put on a card with a 24% interest rate is how folks dont go immediately broke but fall into a hole and bleed cash year over year. Of course if you have some medical catastrophe that in 3 days costs you 5-6 figures somehow, its harder to plan for those, but things like medications and physical therapy and whatnot...most people get bled with ordinary (overpriced) expenses.
it's funny how ya'll never put into consideration how medical bills wipe out people's savings, but ya'll ain't trying to think that far ahead
If you dont have enough money saved for retirement, outside of being wiped out by a medical debt...then it's your fault
The majority of Americans are fukking stupid with their money and dont think about retirement until it's right around the corner and it's too late. They buy depreciating items their entire lives and other worthless materialistic shyt that wont help them in order to show off to others, meanwhile saving, investing, and paying off debts is a foreign concept. I see it now with peers in their 20s and 30s. I tell them to save for retirement as opposed to buying dumb shyt, and some of these fools tell me "tomorrow isn't promised"
If you are born post 1980, you have no excuse not to save for retirement. You have all the knowledge that mankind has created in the palms of your hands, stop keeping up with the joneses and trying to live a fake life and start budgeting and saving.
A 30 year old single breh who makes an average of just $45,000 over the course of his working life, if he puts aside 8-10% of his GROSS income into an index fund at an extremely conservative rate of 9% return over the course of 35 years (age 30-65), he would have a little over $1 million dollars by the time he is 65. If he has an employer who matches 3-5% towards his 401k that could be better since he is getting free money. Or open a roth IRA and max it out every year. If he has a home that is paid off and no other bills then he should be set. This is only if the breh just worked for his entire life and didnt make any other investing moves (real estate, mutual funds, etc.). Don't nut in bytches you arent planning on living with or raising a family with, try to stay as healthy as you possibly can, budget your money, live within your means, save for retirement, all tangible and realistic things that can be done.
Meanwhile you have fools in here hoping there will be a french revolution
Anything to prevent you from using common sense
it's funny how ya'll never put into consideration how medical bills wipe out people's savings, but ya'll ain't trying to think that far ahead
I feel that, man. I was in the weeds trying to figure out what my retirement was gonna be looking at if I started...but one thing stood out above all:get out of debt first. It would be different if I could drop many 10s of thousands into investments now, but I still just have a car to pay off. No investment can outdo the 6% im paying on the loan, and jts possible for me to pay off t he car this year, so the long term savings will be incredible. Been eating good cooking at home and saving cash, my housing is 1/5th of my pretax income (less than 1/3 after) so my #1 goal is to finish that. All my other debts are paid off and it changed my life. I know too many folks that could use two years of buckling down and they would be good but they aint have the will for it.
Is he earning well at least? Assuming he isnt drowning in trinkets, 35 aint too late to invest, esp if he has no kids.My boy 35 and has 0 savings and 0 401k
