- cross-posted to:
- climatememes@lemmy.world
- cross-posted to:
- climatememes@lemmy.world
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While I can understand the sentiment, this is a REALLY bad and irresponsible thing to do and detrimental to yourself and society as a whole.
Lemmy, please do everything you can to set yourself up for a successful retirement. Even just a small contribution to a retirement account really will make a big difference when you’re older.
How TF am I supposed to do that?!! I can hardly eat.
Dumped it all in Bitcoin, amidoingitrite
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The best thing I can do for a successful retirement is commit some crimes and get arrested. A “small” contribution is still outside my price range. You gotta be putting away hundreds a month at least. Retirement simply isn’t something you can plan for if you make below average income.
Another day of monotony’s
Gotten me to the point I’m like a snail, I’ve got
To formulate a plot or end up in jail or shot
Success is my only motherfuckin’ option, failure’s not
These “you should have saved for retirement” people really piss me off, especially the “you should have cut out luxuries” assholes. Bitch, I’m like the 62% of the rest of America that lives paycheck-to-paycheck. What luxuries? The occasional chai latte to make my life slightly more bearable? Buying my daughter Taco Bell once in a while to see her smile?
If I have to work for decades and deny myself any comfort for those decades just to have some comfort for the last 10-20 years of my life? Fuck that.
If your not even planning on saving for yourself what are you going to do for your daughter?
Holy shit, do you honestly think not buying a latter or Taco Bell once or twice a month would be enough to save for retirement?
You’re like one of those “don’t eat avocado toast” people.
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Fun fact: you can withdraw from your 401k. While there is a hefty tax penalty, you still can do it. Maybe you can get a down payment on a house or pay off student loan debt. Just make sure you withhold taxes from your payout. Don’t get caught with that bill at tax season
Especially handy if you have a job with good matching and instant vesting. Of course, this is not finacial advice, but it is an option that exists.
You can use $10k from your 401k for a down payment on a house with zero penalty. If you’re married, then your spouse can do the same. So now you have $20k for a house down payment! With an FHA loan you can buy with as little as 3.5% down, which your $20k should cover. Weee!
Why even bother with a down payment, lots of loan options out there for 0%
Those are usually harder to get and carry higher interest rates.
In most cases, it’s better to save up for a down-payment to cut off a chunk from your loan along with the portion of interest with it. You also tend to be able have loans with better options available to you.
Bold of you to think we all have 401ks.
I imagine there is quite a dispersion of ages on Lemmy
Age has nothing to do with it. I’m 46 and I don’t have a 401k. I’ve never worked for a company that offered me one and I can’t afford such a thing out of savings I’ve never had.
Yep, my plan is to pull all the money from my 401k as soon as my employer funds are vested. Paying down debt and living a comfortable life now seems like a better bet than hoping retirement happens.
If this is your plan you’re probably better off rolling it over into an IRA, and then doing a qualified distribution. There are a number of qualifying events that can be used to avoid the penalty for early withdrawals.
In Switzerland there is a retirement fund similar to the 401k from which you can withdraw if you definitely leave the country or if you want to use the money to buy your main house.
just don’t get caught with that bill at tax season
Meh, I’m pretty sure the IRS will agree to a payment plan for a small monthly fee on top of the payment, which at this point is almost certainly less than what I’m paying in these fucking usurious interest rates.
I quietly take a truly unhealthy regimen of stimulants before I go to the gym, and every man in my lineage either died of or was diagnosed with heart problems.
A heart attack at the gym sounds like an admirable death, “they died trying to better themselves” kind of thing. Bonus, I look good now.
Its bullet proof gym motivation too, the worse day I have, the harder I cardio. It’s like depression aikido.
Me having a morbid thought: “I just want to be dead.”
Also me, in Morpheus voice: “Show me.”
Ten years now with that mindset, barely ever miss a gym day.
Things never work out the way that you plan.
It’s a fine line between a clean noble death and being the guy who strokes out on the treadmill, falls, gets his nut sack wrapped up in the belt.
Don’t be the guy stroking one out while getting their nuts tugged, got it.
cool, what stimulants?
Usually Bang, adderall(Im prescribed this, but down dose the rest of the time to take more at the gym.), and ephedrine. When my body can no longer hang with that, I’m cool with it shutting down.
bang should be a schedule 1 drug, it’s the worst thing i can imagine putting in your body lmao
thank you for this comment. brightened my day. I haven’t laughed with this sort of light relief in a long while. (I tend to carry the world on my shoulder). Especially the Morpheus line. gold. ✨
Pretty telling that so many comments here immediately blame the proletariat. The fucking power of propaganda. Christ, we’re so fucked.
If everyone else wasn’t so lazy and evil, I could retire sooner and more comfortably.
I’m uniquely underpaid, overworked, and unlucky. No one else is like me. No one will ever sympathize with me. So its just me against the world.
The only thing I can do to change my lot in life is to throw in harder with a high profile ultra-wealthy industrial captain in the eternal war against foreigners, corporate rivals, and the unemployed.
Yes, yes, blame the other crabs in the bucket. That’s the way to the top, for sure.
Also, the “woe is poor me & my wholly unique predicament” trope is yet another spoonful of bullshit you’ve been fed. We’re all underpaid, overworked, and unlucky — and no one is different in that. Begin the sympathizing with yourself, and see we’re all against the fucking world out here.
You do you, at the end of the day, though. The only thing at stake is your happiness.
Do you need it pointing out that the reply was sarcasm?
I’m told its undetectable for Americans, which I guess makes sense if you grow up in a country where about 1/3 of the population is genuinely insane.
As an American, I noticed the sarcasm just because lemmy has a very anticapitalist user base, but on any other platform I’d be genuinely concerned that it was written by one of the 50% of my country’s population that actually believes that …
Yes, yes, blame the other crabs in the bucket. That’s the way to the top, for sure.
https://en.wikipedia.org/wiki/Fifteen_Million_Merits
The only thing at stake is your happiness.
If only. You’re living a very blessed existence if happiness is the only thing you have to worry about.
Hey, if you’ve got all the answers, what’s the problem, guru?
Gluttony and materialism, I’d say. We all could have rich and wonderful lives. A few percent of us want more. And they try to make the rest think that that’s the right thing to do for everyone, even if that’s technically impossible.
I’m pretty sure that’s the root of all evil. You are welcome.
Do as the Buddha, abandon all craving, and you will reach Nirvana.
I’d be wary of any ties to religion — even the seemingly most benign, friendo. 🫥
It’s true that Zen Masters rejected all religions, and that Gautama was an illiterate Prince who did a bunch of dumb stuff before promising others he could bring them eternal happiness…
But the whole “friendo. 🫥” thing?
Why y’all gotta patronize?
Nobody is coming to the rescue and we’re on a timer.
That’s funny, thinking that people get to retire at 65. For me it’s 68.5 years, but that will probably be pushed backwards before then.
Yeah I am betting it will be 75 for me and I am only 43 now.
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You’ll have a whole 10 years before they grab you for the Near-Death Star
Yea, being 33 and a moderately successful freelancer I don’t see myself retiring… pretty much at all, if the current trends keep trending
Moderately successful sounds real nice.
I didn’t know how to put it, not sure it translates well… anyway
…i’m hoping to pull off eighty, at least have sufficient reserves to care for myself in senescence…
I want to retire every 7-10 years. I definitely hope I can still work hard beyond 68.5 years young.
The advantage of a self-employed mindset, I suppose.
With climate change and fascism in a dead heat, I like my chances.
I’m on the Smith & Wesson retirement plan myself
Playing solitaire with a pearl-handled deck.
…oh, that’s poetic…
It’s from “Carmelita” by Warren Zevon. Great song!
Huh, my reasoning was always I’ll probably be dead before I reach 65, but I guess this also works
My retirement plan involves laying down in a ditch off a highway in Colorado with an amazing view of the Rockies during a freezing winter night and just falling asleep. Social Security will not exist when I reach retirement age. I have a pension through work, I contribute to a Thrift Savings Plan, none of it will be enough, and I refuse to contribute more to either (as my Boomer parents both (of course) suggest), because to me I am literally throwing that money away. I will never see that money, the markets will crash, I will be left with nothing anyway, there’s no point.
This is… An unhealthy mental stance to take. The markets have pretty consistently gone up for just about a century now, its about time in the market not timing it. Yeah it will go up and down, yeah we really might see a recession in the next few years, but 20-30 years from now, money you’ve invested will be worth considerably more and you’ll likely feel quite different when the time rolls around.
I worry about you, grasshopper_mouse. If you really feel this way, please talk to someone.
“You don’t understand! Right now is the worst times, and my specific suffering is the worst and most hopeless in history! This is the end!”
(Edited for accuracy)
The copium some people have about gov work is absurd, GS pay raises don’t match inflation AND (at least in the IT field) typically pay worse than industry standards, for…
- slightly cheaper insurance benefits
- faster time off accrual (assuming you stick around for 3 years for 6 hours per pay period (2 weeks) or 15 for 8 per pay period, which is only for annual leave. Sick is capped at 4 hours regardless.)
- a pension that a political party absolutely intends sweep out from under you (that you pay more into than any of the folks in your office that have been there since before january 1 2013, 0.8% of pay vs 4.4%)
- TSP: a 401k by a different name.
Oh, but it’s also “more stable” (we’re definitely not facing a shutdown deadline on the 8th and 22nd of this month, which is somehow more confusing in news coverage because nobody covers who is/was affected which shutdown deadline or if the march 8 shutdown is still possible).
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I used a chunk of my 401k as an interwst free down payment on my house.
I plan to die in the Climate wars, myself.
Water Wars of 2038 here.
I’m betting everything on the Battle Royale of canned food in 2041
Planning to perish in the war against the extra dimensional invaders in 2478.
I’ll die in World War III, Eastern Europe Theatre, 2026 (when Trump’s election pushes the current geopolitical tensions over the edge).
Gonna just make sure I die at 50.
My retirement plan is a cyanide pill to avoid the torture of roaming dystopian gangs of armed militias when they ransack my place because law and order has largely vanished and I’m their next stop.
Na, I’m just kidding. I enjoy the pain.
You either die to the prion-diseased rape cannibals or you live long enough to see yourself become a prion-diseased rape cannibal.
In 60 years all you dumb fucks are gonna be old and broke as fuck and demanding the next generations pay for your stupid asses through higher taxes.
Save your fucking money. The world might not end.
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Sounds like I should be investing in dry beans, rice, sugar, and other non-perishables.
And maybe some ammo.
I don’t want to hear a PEEP outta you when you’re old and broke
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So… what’s currently happening and has always happened? The current average social security payment is $1800. Which isn’t even enough for rent and bills in most places. There are a lot of old people that worked blue collar or service jobs, payed taxes their whole life, saved what they were told and could. But they retired at 65 and planned on dying at 75, the average life span. Now they’re 80.
So here’s the thing- social security shouldn’t be your only source of income. That’s what savings are for. That’s what investments are for.
I’m not saying it’s great or I agree with it, but saving for retirement is something that should be a priority from the beginning
Ooh la la, look at Mr. Money Bags over here with extra cash to save for retirement.
If you go all the way to retirement age without ever saving a dime, there is some self reflection to be done
Not necessarily your fault. Some careers just don’t pay anything, and some areas only ever have low paying jobs, and some people are disabled etc etc.
A lot of people are born poor, live poor, and die poor. Getting out is the exception.
Right?! All these people who think that there are just well paying jobs, that cover your expenses plus some, are just sitting there while we ignore them and choose to be poor.
I’m in my 40’s going back to school again trying to do better. I’ve changed jobs roughly every 4-6yrs to get better pay and hours. I got stupid lucky to find 2 people to buy a house with right before the market went to shit. I’m making better money than ever in my life but still living the same. Gas, taxes, food kept a steady rise, along with the school loans I never made the promised income for (from the schools recruiters, career aids, etc) thus am still repaying.
Poor people aren’t lazy. We’re just poor.
Imma bet most of us are the kind of people that would never take advantage of someone else for our personal gain. Most old acquaintances I’ve met back up with who are doing much better off, I can’t say that I would do what they did for it. I’ve been called things and scoffed at when I’ve said I have personal morals, and told how it interferes with making real money. Absolutely not saying anyone making good money isn’t moral. It does narrow down the scope of opportunities though.
(Addressing the US because I live there) Even people with “middle class” incomes are living paycheck to paycheck these days. How can you contribute to a 401k when you can’t even maintain a balance in your savings account? Let alone other investments, etc, even if you do know what you’re doing with the various financial instruments.
The cost of living is beyond the pale right now anywhere in the US where you actually stand a chance at making decent money, so your choices are to A: suffer now under severe self-imposed austerity, saving a pittance for retirement knowing that you’ll still almost certainly wind up destitute in old age, or B: enjoy your youth to the extremely limited degree that you’re able to, have the odd nice coffee or dinner with friends, and then also still become destitute in old age.
Frankly, a huge percentage of the US population are simply fucked, and given the political landscape where you are given a choice between the “do nothing” party on the center right and the “eat the poor: serfdom now” party on the far right, you can’t blame people for having absolutely zero hope. As for me, I’m extremely privileged to be a dual citizen of the UK/US so I’m going to be running back to Scotland as soon as humanly possible. Come what may, at least Scotland’s position on poor people isn’t to let them die on the streets like it is here.
I’ve long maintained that if every US citizen got to experience the basic social safety nets that even the UK provides, politicians would find themselves strung up by their intestines in short order. I think people here just really lack context as to how truly distopian this country is.
Getting out may be an exception but self-defeating right away, like a lot of people in this thread, isn’t the way to become the exception.
100% agree.
Exactly. Boomers spent all their money in the 80s and are now broke and surprisingly not dead yet. They should have saved more.
Retirement being supported through taxes rather than individuals choosing to save would be far better. It’s wealth based so people who can afford to save for retirement are already doing it by default, and people who make an egregious amount of money are taxed so those who can’t afford to save for retirement aren’t left to rot.
Same concept as other social services, really. Having the means for basic survival should be guaranteed by society, especially for people who can’t support themselves.
Fair, but I think there should be a personal responsibility component. Not as big as it is now, but some.
Like, UBI, I agree sounds like a good idea. But also if people want a better retirement than the bare minimum, they should save more during their working days.
Are you wealthy? Like really, really wealthy?
Im talking multiple properties owned and owning a successful business kind of wealthy.
If not the “personal responsibility” phrase was invented to dupe people just like you.
What part of letting the elderly rot, starve and suffer because they didn’t make the “right” choices sounds good and moral to you?
I said a component, not the whole thing. Right now there’s waaaay too much “personal responsibility”. I’ve already said I’m in favor of universal basic income. I just think people also need some incentive to save. Or to increase earnings.
I’ve seen what happens to people who outlive their money. It isn’t pretty. You might think you’ll just keep working, but there’s a lot of things that can make it so you can’t work.
I’m sure a lot of people commenting can’t afford to save, but if you’re someone who can afford to do so and you’re just not prioritizing it, you might come to regret it.
How are people so dense?!?!
If they stop contributing to their retirement accounts then my contributions will be in jeopardy!!!
It’s a pyramid that benefits us all…eventually.
…when my forebears ask about my retirement savings, i point to my interest, insurance, and rent fueling theirs…
No
In 60 years, you will be dead. The world will be fine. You, however, will not.
I hope I’m gone before the crumbling even starts.
Yo look around.
Fuck
FUCK.
I’ve been very slowly getting more open and candid with the idea that I’m not going to be around to retirement age. The men in my family have incredibly rough odds, starting at 50, and I don’t think I’m going to be the one to beat the odds.
Healthy or not, constantly rolling this knowledge around my head—even voicing it —has helped to put a lot of things in perspective—even if it hasn’t yet instilled a YOLO mentality.
