4 ms·
Not maxing out retirement savings early in my career. Compound interest FTW.
by joshka 4y ago
Not maxing out retirement savings early in my career. Compound interest FTW.
- patwolf 4y agoIf it makes you feel any better, I read a clickbait article this week on why young people shouldn't save for their retirement. The gist is that they can easily make up the difference in their high-earning older years, so it's not worth the sacrifice of trying to save in their low-earning years, especially when the market is flat. I don't necessarily agree, but it is a perspective I hadn't heard before.
- SoftTalker 4y agoI'd disagree with that, I think it's worth the sacrifice to learn the discipline needed to save. Think about what you'd spend it on otherwise? Something consumable, most likely. Something that won't have any benefit for you in the long run, or possibly even tomorrow.
- smileysteve 4y agoThis seems to assume 2 things; 1) that your spending needs won't increase as your salary does. 2) that your salary meaningfully increases over time (more true for the top 15% than for 85% of others)
- ostenning 4y agoNot sure about this one, especially if pension funds collapse like they will probably do in Germany
- badpun 4y ago> Compound interest FTW. Unless hiperinflation.