The more fortunateforward thinking are beginning to dip into their IRAs and 401Ks.
There was never anything stopping anyone from investing in a 401K or IRA or other tax deferred retirement investment funds.
If you didn’t invest for retirement it wasn’t bad luck. It was your own fault. Most anyone can afford $10 a week. If you can afford beer, cigarettes or an expensive cellphone you can afford to invest for the future.
‘LUCKY’ is a word the Left uses to sell tax hikes on those that plan ahead to those weak minded individuals who don’t.
“If you didn’t invest for retirement it wasn’t bad luck. It was your own fault. Most anyone can afford $10 a week. If you can afford beer, cigarettes or an expensive cellphone you can afford to invest for the future.”
You are standing on my soap box. I beat that horse regularly to hopefully serve as a wake up call to someone out there that might not be thinking about retirement yet and saving enough money.
I did not save much in my early working years. But as I got into my career I began to wake up and I began saving larger and larger percentages each year by diverting much of my raises to savings. My savings rate each year increased. At retirement I was saving over 25% a year. This took some sacrifice. I kept my small house instead of getting a larger one, lived modestly, bought clothes at thrift shops, kept cars for 15 years, etc.
It takes a lot of money saved over 40 working years to last possibly another 25-30 years (if you’re lucky).
“If you can afford beer, cigarettes or an expensive cellphone you can afford to invest for the future.”
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I constantly explained to women I worked with the actual cost of the blouse that they felt they, “just had to have,” over the cost of several years.
It was like talking to a wall. And once their children control the spending in the house it’s a losing race.
Women were the harder of the two sexes to get to start saving because they just had this insane craving for newer and newer products.
Sigh.
“There was never anything stopping anyone from investing in a 401K or IRA - - “
Absolutely correct. I see many in their late 60’s on up into their early 80’s still trying to work. Some obviously never saved.
But there’s another group out there, according to my financial adviser, that feel they owed themselves a good lifestyle and blew through their IRA’s in just a few years and had to go back to work. I personally know of one that planned to spend his IRA in 10 years and blew through it in 2. He acted like a spoiled trust fund baby.
We manage our money in retirement and live and eat good without the stupid spending binges. We’ve been retired since 2011 and have bought 2 new cars, a new pickup, new boat and new camper and have money to spare.
It’s all about early investment and money management.
Back in the 1980’s we had grasshoppers and ants. I worked with people who made the same paycheck as me and drove Beemers and Mercs, while I drove a used Camry. I knew back then the the grasshoppers weren’t going to starve, they would have the Bernie Bros confiscate from the savers, and means test Social Security and tell us we’re damned lucky they don’t take the rest away from us greedy bastards.
And unlike Mr. Gutknecht, I never for one instant believed any of that bullshit about government investment (e.g., the big dig) I saw it for what it was, income transferred to the politically favored: Campaign contributor contractors and labor unions.
Ownership is society’s memory of things done, and other things foregone, by the owner. Socialist propaganda against ownership is an effort to impose dementia on society.