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“Pay your bills on time and fully” “Do what you can to eliminate addictive vices or never get them” “Max your Roth and 401k contributions before even thinking
by Eji1700 2mo ago
“Pay your bills on time and fully”
“Do what you can to eliminate addictive vices or never get them”
“Max your Roth and 401k contributions before even thinking about anything else”
“Try to budget”
“Don’t live beyond your means. Monthly payment need to be considered carefully”
If you can even TRY to do these things it puts you SO far ahead of the average person.
It sucks because I get it, if you’re behind waiting years for things to stabilize sucks, if you even can. So these get rich quick by just doing X scams are enticing but only set you farther behind.
God I still remember when a friend showed up on his 18th birthday with a pack of cigarettes to show how “mature” he was. I always think about how much that one decision cost him over the years.
- mohamedkoubaa 2mo agoThe writer of one punch man was on to something
- sudo_cowsay 2mo agoHe knew the way
- prophesi 2mo ago> God I still remember when a friend showed up on his 18th birthday with a pack of cigarettes to show how “mature” he was. I always think about how much that one decision cost him over the years. The irony of taxing vices. I imagine most of it's paid by people who didn't know better at a young age, and helps encourage the downward spiral of poverty. And if you say it discourages young people from starting on the addiction, I think we're barking up the wrong tree. Disposable vapes have the highest amount of nicotine they can put in their nicotine salts. Nicotine pouches like zyns sell the most at 6mg and above. Dispensaries and street weed have enough THC that would put a hippie in the 70's in a psychotic break. God bless that Gen Z doesn't drink or smoke cigarettes. But they vape nicotine and marijuana. Or use pouches / edibles. If we don't prevent first time users from getting an intense nicotine head high or accustomed to weed 5 to 10 times stronger than what their parents were used to, then I really don't see the point of excise taxes. It should be about preventing first-time use, and giving off-ramps to these potent products.
- scrapcode 2mo agoI never personally liked the blanket advice to "Max your 401k." For most, if achievable at all, that would be the most they can invest at all. Even though it is often recommended alongside a proper "emergency fund," that advice leaves little liquidity without major penalties.
- jeffreyrogers 2mo agoRoth contributions are withdrawable without penalty. Also most employers offer a match of some amount, which is essentially free money.
- sumeno 2mo agoNot Roth 401ks, only IRAs
- jeffreyrogers 2mo agoYes, although some plans let you roll contributions into an IRA.
- what 2mo agoMost people here are probably paid too much to contribute to a Roth IRA.
- jeffreyrogers 2mo agoYou can convert your 401k to an IRA when you leave an employer. Some employers also offer in service rollovers (I think these mostly have minimum age restrictions on them though)
- what 2mo agoThat’s a traditional IRA, not Roth.
- 2mo ago
- throw0101a 2mo ago> If you can even TRY to do these things it puts you SO far ahead of the average person. This is basically the advice of this 2016 post (later book): * https://en.wikipedia.org/wiki/The_Index_Card https://en.wikipedia.org/wiki/The_Index_Card The basics are really basic/simple.
- deleted 2mo ago[deleted]