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Not planning for retirement in that you’re not even putting funds into a 401k or other retirement account? I get it if you’re strapped for cash but it sounds l
by hellisothers 7y ago
Not planning for retirement in that you’re not even putting funds into a 401k or other retirement account? I get it if you’re strapped for cash but it sounds like you have the funds to save.
This isn’t clever, it’s irresponsible especially given that just putting a little money away now literally pays dividends later.
- m11a 7y agoI don't mean not putting in a 401k. The comment I was replying to was implying throwing $100k into a savings account is a good idea because you'll have a couple million when you're 63. I do not advocate throwing $100k into savings for retirement at 18. There's a difference between reasonable financial responsibility (401k, match pension contributions w/ employer, etc) and spending all your young years worrying about being prepared for retirement. Enjoy the life you have. Be financially responsible, but don't over-do it, is what I'm trying to say.
- hellisothers 7y agoAh great, I agree, there is a balance to strike
- icedchai 7y agoGo to college. Get an engineering or other high paying job. Save and invest. You'll have a couple of million by early 40's, maybe late 30's if you're lucky.
- 3fe9a03ccd14ca5 7y agoEngineering is one of the few fields where this is true. For the vast majority of college degrees this is not true.