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Lots of people I know in a generation or two above me regret not saving when they were younger. Now they're nervous about being 70 and having to retire soon but

Lots of people I know in a generation or two above me regret not saving when they were younger. Now they're nervous about being 70 and having to retire soon but not feeling stable, or feeling that they may financially burden their children. Compounding interest on money means, as previously mentioned, money you earn at 20 will be 10x as valuable compared to money earned towards a typical retirement age. With tech having strong early salaries and heavy stock compensation I think this is even more the case. > You think your gonna wind surf when your 60? You think it's smart to spend your 'non arthritis' fingers on coding? How about 40? Because if you start working at 21 in tech and you're aggressive about your career that's when you can retire. Do experiences compound? Will I enjoy an experience more at 25 than 45? Maybe, and there's always some balance, of course. No one should work themselves to death. But I worked obscene hours for my first 4 years of my career, lived with many roommates, and saved a lot of money. And I started years later than most, as I entered the market at 24 instead of 21. It buys me great peace of mind to know that I am financially stable and independent, that I can take care of friends and family who are not, and that I have bought myself decades of retirement.

emodendroket 5y ago
If you retire when you're 40 don't you basically have to live in mortal fear of serious illness for the rest of your life?
- staticassertion 5y ago
  There are a number of ways around that if you have money, such as investing in an HSA early on, or buying private insurance. Or get married.
- Aeolun 5y ago
  Only in the US. You might live in a first world country. You might also have so much saved up you can buy private insurance for the rest of your life.
- rufus_foreman 5y ago
  No. You buy health insurance.
miskid 5y ago
> Do experiences compound? Will I enjoy an experience more at 25 than 45? Maybe, and there's always some balance, of course. No one should work themselves to death. It doesn't really have to compound. If you travel a few weeks every other year in your 20s or 30s it adds up to a lot more experiences than if you hadn't. When you get up to 40 it makes a meaningful difference. Before the pandemic you could take a flight almost anywhere for less than $1000. Not using that opportunity ends up defining people, or at least their situation, whether they like it or not. And don't get me wrong. I understand that it isn't always so simple. Still if I had to choose I would choose the version of myself that is willing and capable of traveling. Could you go traveling when you are 40? Sure, but it isn't necessarily the same thing.
imtringued 5y ago
Has it ever occured to you that you are getting paid off the work off your friends and family and by giving their money back they are simply back to square one?
- staticassertion 5y ago
  I don't think your sentence is particularly well formed so it's not clear what you're getting at.
consilla 5y ago
I think many experiences do compound. Most people who take the traditional path of working straight after school trade security for reference experiences which help in understanding what they want, and helping deal with challenges further down the line. For some this is fine, security is what they want and the 'what ifs' and opportunity cost on growth experiences will not bother them. For others this may cause more existential problems down the line. As a generalising anecdote, some of the greatest people I have worked with had very non-traditional paths early on, and I find them to have a greater 'big picture' sense, more resiliency and more humour in the face of adversity. But are not as rich in their 40s as others.
- staticassertion 5y ago
  I think the question of how experiences compound is totally interesting and worth asking (which is why I did :P). It's something I think is worth considering when thinking through how you prioritize your life and your goals. Doing things that make you a happier, healthier (mentally and physically) person at age 25 my seriously pay off vs doing those things at age 45. In fact I strongly suspect they do.
hericium 5y ago
> Do experiences compound? Will I enjoy an experience more at 25 than 45? Maybe, and there's always some balance, of course. No one should work themselves to death. There are experiences you may be incapable of considering later in life. Doing stupid, immature shit is fun and forms a person in many ways. Some errors are also better made earlier.
- Tepix 5y ago
  I completely agree. Bones heal faster when you're young!
- staticassertion 5y ago
  Yeah I mean I'm not advocating for some sort of monk-like isolation where you have No Fun and work 24/7. Just as I'm sure people aren't suggesting living a wild life where no consequences or future is considered. I'm just saying that tipping the balance for a few years can be a really good tradeoff, and to counter the "deathbed" anecdote above.
chillacy 5y ago
The author of “Die With Zero” makes an interesting observation: Experiences do compound in a way: the longer you have an experience, the more you can surface the memory over your life, leading to memories of memories which are themselves pleasant.

emodendroket 5y ago

If you retire when you're 40 don't you basically have to live in mortal fear of serious illness for the rest of your life?

staticassertion 5y ago
There are a number of ways around that if you have money, such as investing in an HSA early on, or buying private insurance. Or get married.
Aeolun 5y ago
Only in the US. You might live in a first world country. You might also have so much saved up you can buy private insurance for the rest of your life.
rufus_foreman 5y ago
No. You buy health insurance.

miskid 5y ago

> Do experiences compound? Will I enjoy an experience more at 25 than 45? Maybe, and there's always some balance, of course. No one should work themselves to death. It doesn't really have to compound. If you travel a few weeks every other year in your 20s or 30s it adds up to a lot more experiences than if you hadn't. When you get up to 40 it makes a meaningful difference. Before the pandemic you could take a flight almost anywhere for less than $1000. Not using that opportunity ends up defining people, or at least their situation, whether they like it or not. And don't get me wrong. I understand that it isn't always so simple. Still if I had to choose I would choose the version of myself that is willing and capable of traveling. Could you go traveling when you are 40? Sure, but it isn't necessarily the same thing.

imtringued 5y ago

Has it ever occured to you that you are getting paid off the work off your friends and family and by giving their money back they are simply back to square one?

staticassertion 5y ago
I don't think your sentence is particularly well formed so it's not clear what you're getting at.

consilla 5y ago

I think many experiences do compound. Most people who take the traditional path of working straight after school trade security for reference experiences which help in understanding what they want, and helping deal with challenges further down the line. For some this is fine, security is what they want and the 'what ifs' and opportunity cost on growth experiences will not bother them. For others this may cause more existential problems down the line. As a generalising anecdote, some of the greatest people I have worked with had very non-traditional paths early on, and I find them to have a greater 'big picture' sense, more resiliency and more humour in the face of adversity. But are not as rich in their 40s as others.

staticassertion 5y ago
I think the question of how experiences compound is totally interesting and worth asking (which is why I did :P). It's something I think is worth considering when thinking through how you prioritize your life and your goals. Doing things that make you a happier, healthier (mentally and physically) person at age 25 my seriously pay off vs doing those things at age 45. In fact I strongly suspect they do.

hericium 5y ago

> Do experiences compound? Will I enjoy an experience more at 25 than 45? Maybe, and there's always some balance, of course. No one should work themselves to death. There are experiences you may be incapable of considering later in life. Doing stupid, immature shit is fun and forms a person in many ways. Some errors are also better made earlier.

Tepix 5y ago
I completely agree. Bones heal faster when you're young!
staticassertion 5y ago
Yeah I mean I'm not advocating for some sort of monk-like isolation where you have No Fun and work 24/7. Just as I'm sure people aren't suggesting living a wild life where no consequences or future is considered. I'm just saying that tipping the balance for a few years can be a really good tradeoff, and to counter the "deathbed" anecdote above.

chillacy 5y ago

The author of “Die With Zero” makes an interesting observation: Experiences do compound in a way: the longer you have an experience, the more you can surface the memory over your life, leading to memories of memories which are themselves pleasant.