Thats… that’s now how you use the meme.
‘bad thing/good thing penguim’ strikes again. Annoys me people forget it’s supposed to be social situations
But it does work
Americans spend way too much on christmas presents.
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Agreed… here, it’s about family, being together, chatting, laughing, just having a good time in general. Sure, there are discounts, but most people use those to just buy some new appliances (in most cases, replace broken ones).
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Alabama? 🤨
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Something funny I’ve seen is that in Norway it’s customary to distribute the income tax deduction over 11.5 months instead of 12, so that in November or December people only get deducted half the regular tax on their payslip. This is done to ensure that everyone has money for Christmas. It’s so dumb and beautiful that I can’t help but love the idea.
I emptied mine paying rent!
I emptied mine paying for life-saving medication!
Good thing bad thing penguin
We don’t get to retire
Compounding interest is a hell of a drug.
Saving anything is infinitely better than saving nothing.
Retiring is possible for anyone with an education, but it is a sacrifice, and a gamble on not dying
Anyone can save for retirement, even without a formal education. It just time and diligence to save, and then some reading to learn how to invest.
All of that requires a livable wage first. How many times do people have to prove that no amount of “dilligence” will allow people to live, let alone save on minimum wage in most places?
It just time and diligence to save
It’s just having the self-control to live below your means.
Try playing with this. Set the interest rate to 7%. Assume you will live to 75 (average us life expectancy) and retire at 65.
Now change the monthly contribution amount to the most you can comfortably contribute right now if you opened an IRA IRA.
This is your low estimate of your retirement savings. As you get older hopefully you earn more and can contribute more.
Just curious how you came up with 7%? I was always taught to expect the yearly return to be 4%
My number I picked after reading about historical averages.
https://awealthofcommonsense.com/2021/05/200-years-of-asset-class-returns/
4% stays ahead of normal inflation, 7% matches greedflation.
I found this even more helpful.
Trans… saving up for a boob job
I hear ya
That penguin hasn’t been this undecided since 2010! :0
This is why you gotta use a Roth IRA, if you pull from it before 59 it’s heavily taxed. Forces you to save
No, a traditional IRA would be even better for that. With a Roth, you can withdraw the principal without penalty since it was after-tax to begin with; it’s only the gains that you get punished for taking out. In contrast, any amount of withdrawal from a traditional account incurs a penalty (with a few exceptions, such as using it to buy your first house or whatever).
haha imagine having money
I have ₹8k in my bank account - that is how much I’ve earned from my stupid internship in four months. Used some of it for emergency reasons. Placements for CS have dropped by 70% in India. I’ve graduated with a useless degree. And I’m still jobless after graduating last September. Haven’t used my bank account in a year lol. Have a broken laptop and phone. Fuck the system.
The meme were broken today
