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/u/QuietRedditorATX
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I have been seeing this around everywhere. Our generation seems to be singularly focused on investing for retirement. You need to be invested in retirement or you are living life wrong. .... and I think people are making the same mistake they made with going to college.
I am not saying don't invest for your retirement. But you need to not do it blindly, like some people are doing. Yes, It is money! But it may not always be the best circumstances for you, and you don't need to feel behind if you contribute less.
The average stats are very bleak for retirement. But the average American left the working field with very little saved. I am fully going to die with over $100,000 or more in my retirement - and (checks empty bed) I am not going to have children. I don't need a 2,000,000+ retirement account. I might hit it just working over time, but it is all just going to go to some distant family member when I pass.
Invest in your retirement of course. But consider why and how much you need to invest in it. And don't necessarily put off other things because you are so focused in hitting your annual retirement caps.
I made this post because everyone in another sub was freaking out that someone might want to buy a house instead of saving everything for retirement. And although it isn't the best decision, it has merit to be discussed. A home is a potential asset that you can carry with you into retirement with a lower cost of living. Big retirement = nice. Having a home also = nice. Sometimes you do make tradeoffs. The one-shoe fit all advice completely failed Americans with college, and our education clearly hasn't improved since then.
Also, most major countries are the most single and most non-child bearing generation. You have nowhere to leave that money.
I am not saying don't save. I am saying your 401k isn't everything.
submitted by /u/QuietRedditorATX
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Go to college was good advice. Too many young people did it without consideration of the full effects and ended up with a lot of debt and meh job prospects.
Investing in your retirement is good advice. Too many young people are treating it as a life necessity without thinking about it.
I am not saying don't invest for your retirement. But you need to not do it blindly, like some people are doing. Yes, It is money! But it may not always be the best circumstances for you, and you don't need to feel behind if you contribute less.
The average stats are very bleak for retirement. But the average American left the working field with very little saved. I am fully going to die with over $100,000 or more in my retirement - and (checks empty bed) I am not going to have children. I don't need a 2,000,000+ retirement account. I might hit it just working over time, but it is all just going to go to some distant family member when I pass.
Invest in your retirement of course. But consider why and how much you need to invest in it. And don't necessarily put off other things because you are so focused in hitting your annual retirement caps.
I made this post because everyone in another sub was freaking out that someone might want to buy a house instead of saving everything for retirement. And although it isn't the best decision, it has merit to be discussed. A home is a potential asset that you can carry with you into retirement with a lower cost of living. Big retirement = nice. Having a home also = nice. Sometimes you do make tradeoffs. The one-shoe fit all advice completely failed Americans with college, and our education clearly hasn't improved since then.
Also, most major countries are the most single and most non-child bearing generation. You have nowhere to leave that money.
I am not saying don't save. I am saying your 401k isn't everything.
submitted by /u/QuietRedditorATX
[link] [comments]
Continue reading...