3 ms·
Wish I had this logic when I was 16 and working my awful minimum wage jobs. Sure, that money ended up in an IRA eventually, but $1k gets made much faster as a s
by jjice 5y ago
Wish I had this logic when I was 16 and working my awful minimum wage jobs. Sure, that money ended up in an IRA eventually, but $1k gets made much faster as a software engineer than it does frying chicken wings for minimum wage, to the point where the trade off from having a bit of fun in high school or college would vastly outweigh the small gains I made.
I remember thinking my friends and peers were wasteful for spending their earned money on a new graphics card or even buying a $2 drink when they stopped at the gas station instead of saving what was required for necessary expenses, setting aside a little bit for fun, and saving everything else. Turns out I was the fool.
I am happy for that habit of saving, but I wish I had more perspective and reduced my savings rate to focus on having a buffer instead of saving for retirement at 16. I guess that's what growing up is for.
- nullc 5y agoWas your future as a software engineer guaranteed when you were a kid? :) Personally, I never would have had an opportunity to go for a high paying job if I hadn't saved up a lot of money at a time when I was earning little. So not only was a high paying future not a sure thing, it was probably only possible because I didn't act as though it were. It's easy to take for granted all the luck and skill that our past selves benefited from, making past caution seem foolish in hindsight. Seldom was it actually guaranteed.