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My spouse doesn't work. I'm nearly 25 and on/above target on my 401k savings and am slowly gaining money in regular savings accounts too. I made some bad decisi
by mordocai 11y ago
My spouse doesn't work. I'm nearly 25 and on/above target on my 401k savings and am slowly gaining money in regular savings accounts too. I made some bad decisions with debt a few years ago or I'd be even farther ahead.
I live in Missouri though, which has pretty low cost of living.
- cookiecaper 11y agoI appreciate your intention, but I don't think you can really lecture anyone on retirement savings when you're in your 20s. I'm in my 20s myself and wouldn't do it. Check back in 30 years -- maybe you'll have gotten lucky and not had any major financial drains, or maybe you won't've. People in my family had hundreds of ks saved up for retirement and have lost it all in their 50s. Now they're in their 60s and have no foreseeable path to retirement. Unexpected events happen.
- kdamken 11y agoJust out of curiosity, what happened to them? Besides significant medical or legal expenses, it's hard for me to picture.
- mordocai 11y agoMy parents also lost all of their funds in their 50s due to the stock market crash, but they were getting close to retirement and shouldn't have had their funds in high risk.