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If young, find a job with 401k and healthcare

 
Xeven
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User ID: 76706578
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07/19/2019 10:38 AM
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If young, find a job with 401k and healthcare
Preferably a company that matches your contributions and take full advantage. Invest till it hurts! You might be able to retire at 40-55.

Never sell low. Ever.

I started late and I could retire now at 51 but I want more so going till I’m tired or bored.

Wish someone told me this in my early 20’s.

Also, buy where you live, don’t rent. You are building a foundation of owning your retirement home by always buying the house you live in. Buy and sell your homes throughout life.

Rent is probably biggest waste of your wealth, that and buying new cars. You can buy new car if your going to keep it 8-10 years or more. Never trade a nice car that is 5 years old that cost you 50k for 20k. Still a great car if you took care of it. Better to just keep it and get your next car too.

Last Edited by Xeven on 07/19/2019 10:43 AM
I reserve the right to declare my comments and posts as satire. Nothing I post should be considered or interpreted as advocacy for illegal activity. My comments are designed to inspire critical political thinking. I only mean half of what I say and only say half of what I mean.
Anonymous Coward
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07/19/2019 10:43 AM
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Re: If young, find a job with 401k and healthcare
Good advice. Wish somebody had slapped twenty-something me and told me that.
Anonymous Coward
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07/19/2019 10:48 AM
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Re: If young, find a job with 401k and healthcare
20-something me was not a very good listener.
Anonymous Coward
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07/19/2019 10:50 AM
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Re: If young, find a job with 401k and healthcare
Renting you are just throwing your money away.
Anonymous Coward
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07/19/2019 10:52 AM
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Re: If young, find a job with 401k and healthcare
“Buy instead of Rent” not when the median price of a home is $400,000!! Maybe this advice was true 30 years ago but what young person has that kind of money?? Inflation has killed us all.
Anonymous Coward
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07/19/2019 10:52 AM
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Re: If young, find a job with 401k and healthcare
Good advice for the 1980s. The only thing missing from your post is where to acquire a time machine.
Anonymous Coward
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07/19/2019 10:55 AM
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Re: If young, find a job with 401k and healthcare
“Buy instead of Rent” not when the median price of a home is $400,000!! Maybe this advice was true 30 years ago but what young person has that kind of money?? Inflation has killed us all.
 Quoting: Anonymous Coward 76894912


Yeah but what ya gonna do about it?
Anonymous Coward
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07/19/2019 10:56 AM
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Re: If young, find a job with 401k and healthcare
A friend turned 60 and cashed in most of his 401K and bought a new Dodge Challenger R/T Scat Pack. I love that car but would never buy it. Now is not the time to be buying expensive toys....
Xeven  (OP)

User ID: 76706578
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07/19/2019 10:56 AM
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Re: If young, find a job with 401k and healthcare
“Buy instead of Rent” not when the median price of a home is $400,000!! Maybe this advice was true 30 years ago but what young person has that kind of money?? Inflation has killed us all.
 Quoting: Anonymous Coward 76894912


Well there are still places to live where housing is much more reasonable. If building a great financial future is a priority, it might be worth moving as you build your wealth.
I reserve the right to declare my comments and posts as satire. Nothing I post should be considered or interpreted as advocacy for illegal activity. My comments are designed to inspire critical political thinking. I only mean half of what I say and only say half of what I mean.
Rorschach Watchmen
Gratitude is the greatest currency

User ID: 77105561
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07/19/2019 10:57 AM

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Re: If young, find a job with 401k and healthcare
I work for a union that still does 401k&pension.
“When you’re dead you’re dead, but you’re not quite so dead if you contribute something”

-John Dunsworth
Xeven  (OP)

User ID: 76706578
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07/19/2019 11:00 AM
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Re: If young, find a job with 401k and healthcare
A friend turned 60 and cashed in most of his 401K and bought a new Dodge Challenger R/T Scat Pack. I love that car but would never buy it. Now is not the time to be buying expensive toys....
 Quoting: Anonymous Coward 10485453


Buying toys is never a financial planning consideration as it won’t be an investment in most cases. Everyone has to decide between want, need and your future. Nothing wrong with toys as long as you are first securing your foundation for retirement.
I reserve the right to declare my comments and posts as satire. Nothing I post should be considered or interpreted as advocacy for illegal activity. My comments are designed to inspire critical political thinking. I only mean half of what I say and only say half of what I mean.
Xeven  (OP)

User ID: 76706578
United States
07/19/2019 11:00 AM
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Re: If young, find a job with 401k and healthcare
I work for a union that still does 401k&pension.
 Quoting: Rorschach Watchmen


Lucky you! Pensions are hard to find these days.
I reserve the right to declare my comments and posts as satire. Nothing I post should be considered or interpreted as advocacy for illegal activity. My comments are designed to inspire critical political thinking. I only mean half of what I say and only say half of what I mean.
Anonymous Coward
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07/19/2019 11:02 AM
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Re: If young, find a job with 401k and healthcare
Save your extra in real money minted legal tender gold and silver coins.
Anonymous Coward
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07/19/2019 11:03 AM
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Re: If young, find a job with 401k and healthcare
GREAT ADVICE. IF YOU ARE YOUNG INVEST IN THE SYSTEM OF OPPRESSION THAT KEEPS YOU DOWN, PREFERABLY FOR YOUR ENTIRE LIFE. HEALTHCARE IS VERY IMPORTANT FOR THE YOUNG BECAUSE THEY ARE HEALTHY AND DON'T NEED IT, SO THEY HELP SUBSIDIZE OLD FUCKS WHO DIDN;T TAKE CARE OF THEMSELVES LIKE OP. DITTO THE 401K.
Rorschach Watchmen
Gratitude is the greatest currency

User ID: 77105561
United States
07/19/2019 11:05 AM

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Re: If young, find a job with 401k and healthcare
I work for a union that still does 401k&pension.
 Quoting: Rorschach Watchmen


Lucky you! Pensions are hard to find these days.
 Quoting: Xeven


I agree. When I was deciding on taking the job or going back up to Alaska for work I looked into how rare they are now. I couldn’t pass up a good retirement package like that

They are renegotiating the union contract this year though and might opt that out, luckily every one that’s in now has their pension guaranteed
“When you’re dead you’re dead, but you’re not quite so dead if you contribute something”

-John Dunsworth
Anonymous Coward
User ID: 1588220
United States
07/19/2019 11:19 AM
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Re: If young, find a job with 401k and healthcare
Boomer wants you young slaves to keep his ponzi checks coming.
Anonymous Coward
User ID: 31575712
United States
07/19/2019 11:19 AM
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Re: If young, find a job with 401k and healthcare
That like telling a starving african kid to eat steak if theyre hungry lol
Anonymous Coward
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07/19/2019 11:22 AM
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Re: If young, find a job with 401k and healthcare
They will just let you go after you build up time and hire somebody new at lower pay.
Anonymous Coward
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07/19/2019 11:29 AM
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Re: If young, find a job with 401k and healthcare
So basically a gov job or one of the few megacorporarions that control the gov?

Couple problems with that slick...that is:
Half the people out there in these gov subsidized jobs making well over 6 figures in assorted perks, living off the pleebs busting their ass for min wage. Not sustainable. Also, primary housing constitites decades of salary. Not one or two years like the boomers had.

Now get out there and make sure banks keep getting that free money so they can frontrun us on food, energy and housing. Lol. Ignorant fools.
Xeven  (OP)

User ID: 76706578
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07/19/2019 11:30 AM
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Re: If young, find a job with 401k and healthcare
Boomer wants you young slaves to keep his ponzi checks coming.
 Quoting: Anonymous Coward 1588220


I am Gen X actually and not getting checks from anyone but for my work.
I reserve the right to declare my comments and posts as satire. Nothing I post should be considered or interpreted as advocacy for illegal activity. My comments are designed to inspire critical political thinking. I only mean half of what I say and only say half of what I mean.
Xeven  (OP)

User ID: 76706578
United States
07/19/2019 11:30 AM
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Re: If young, find a job with 401k and healthcare
That like telling a starving african kid to eat steak if theyre hungry lol
 Quoting: Anonymous Coward 31575712


Lol
I reserve the right to declare my comments and posts as satire. Nothing I post should be considered or interpreted as advocacy for illegal activity. My comments are designed to inspire critical political thinking. I only mean half of what I say and only say half of what I mean.
Anonymous Coward
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07/19/2019 11:32 AM
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Re: If young, find a job with 401k and healthcare
That like telling a starving african kid to eat steak if theyre hungry lol
 Quoting: Anonymous Coward 31575712


True. It’s easy said and done.

My places of employment matched 5% and their insurance was 1/4 of my income.

Can’t pay 1/3 of my income to rent, 1/4 to health insurance, and 1/4 to student loans. Had to go without health insurance and pay the fine every year to that filthy ex president.
Anonymous Coward
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07/19/2019 11:44 AM
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Re: If young, find a job with 401k and healthcare
Renting you are just throwing your money away.
 Quoting: Anonymous Coward 77673025


Depends on your situation.

Renting lets you move quicker and also when your housing value may have dipped for a year or two.

Owning can leave you trapped if you need to move, for new career or whatever especially if house is down in sale value that year.

Losses incurred by renting might be worth it sometimes.

Always buy is like saying always marry...dont date. It depends.

Marriage can be an expensive trap...dating = liquidity.

If you know you are not moving for sure...then buy.


People who speak in absolute terms are often wrong.
Anonymous Coward
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07/19/2019 11:51 AM
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Re: If young, find a job with 401k and healthcare
That like telling a starving african kid to eat steak if theyre hungry lol
 Quoting: Anonymous Coward 31575712


Lol
 Quoting: Xeven


Yep.

401K is for someone who doesnt need 100% of their pay to live.

Now u can cut living expenses sometime and put the savings in 401k.

By driving cheaper car, or no car, or eating out less, wearing cheaper clothes etc.

But for many, too many....there is no where to cut expenses to fund 401k.

Also... a million dollar 401k 25 years from now is worthless to you if a commie govt takes over 15 years from now.

Your political role in life must prevent that or you just saved money for masters to use while you beg for scraps in the FEMA camp.
Anonymous Coward
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Germany
07/19/2019 11:54 AM
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Re: If young, find a job with 401k and healthcare
And never get kids!! At 40 you will have all the money you will ever need!!
Anonymous Coward
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United States
07/19/2019 11:57 AM
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Re: If young, find a job with 401k and healthcare
Boomer wants you young slaves to keep his ponzi checks coming.
 Quoting: Anonymous Coward 1588220


absolutely...now off to work you go

and...don't you need a second job to pay for all your toys?
Anonymous Coward
User ID: 73992176
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07/19/2019 12:00 PM
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Re: If young, find a job with 401k and healthcare
That like telling a starving african kid to eat steak if theyre hungry lol
 Quoting: Anonymous Coward 31575712


Dudes from another decade. Cant blame him.
Anonymous Coward
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07/19/2019 12:00 PM
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Re: If young, find a job with 401k and healthcare
And never get kids!! At 40 you will have all the money you will ever need!!
 Quoting: Anonymous Coward 77546581


Dont get marry either it!!!!
Xeven  (OP)

User ID: 76706578
United States
07/19/2019 12:03 PM
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Re: If young, find a job with 401k and healthcare
That like telling a starving african kid to eat steak if theyre hungry lol
 Quoting: Anonymous Coward 31575712


Lol
 Quoting: Xeven


Yep.

401K is for someone who doesnt need 100% of their pay to live.

Now u can cut living expenses sometime and put the savings in 401k.

By driving cheaper car, or no car, or eating out less, wearing cheaper clothes etc.

But for many, too many....there is no where to cut expenses to fund 401k.

Also... a million dollar 401k 25 years from now is worthless to you if a commie govt takes over 15 years from now.

Your political role in life must prevent that or you just saved money for masters to use while you beg for scraps in the FEMA camp.
 Quoting: Anonymous Coward 70394863


All true of course. World and situations can changed but what is alternative? If you do nothing, nothing will happen.
I reserve the right to declare my comments and posts as satire. Nothing I post should be considered or interpreted as advocacy for illegal activity. My comments are designed to inspire critical political thinking. I only mean half of what I say and only say half of what I mean.
Anonymous Coward
User ID: 73992176
United States
07/19/2019 12:04 PM
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Re: If young, find a job with 401k and healthcare
Better advice: start a business selling a product or service with amazing margins and avoid taxes at all costs. Sales taxes in particular.

Hide caspamack cash.

Its difficult to avoid credit/debit card sales taxes but cash is still very easy to manipulate and hide.

I'm sure some people will say thats bad because it's illegal or whatever. Get back to me when your business fails because sales taxes become higher along with min. Wage and you cant adjust pricing fast enough and lose customers when you do.
Anonymous Coward
User ID: 73992176
United States
07/19/2019 12:05 PM
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Re: If young, find a job with 401k and healthcare
Better advice: start a business selling a product or service with amazing margins and avoid taxes at all costs. Sales taxes in particular.

Hide caspamack cash.

Its difficult to avoid credit/debit card sales taxes but cash is still very easy to manipulate and hide.

I'm sure some people will say thats bad because it's illegal or whatever. Get back to me when your business fails because sales taxes become higher along with min. Wage and you cant adjust pricing fast enough and lose customers when you do.
 Quoting: Anonymous Coward 73992176


Hide cash and stack cash. Not caspamack. Fucking autocorrect





GLP