Current Events > Just stopped contributing to my company's 401k plan AMA

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JBaLLEN66 07/09/18 9:32:40 AM #1:	Was contributing like 600 per month :( --- Him being greedy is a good thing. That means he'll want to spend less and help us get out of this debt. Gamefreak36 <cite>JBaLLEN66 posted [p:904752903] in Just stopp... [t:76790632]...</cite> <quote>Was contributing like 600 per month :(</quote> ... Copied to Clipboard!
Ki_cat_ 07/09/18 9:36:11 AM #2:	Why'd you contribute so much and stop? --- People are afraid of what they don't understand. <cite>Ki_cat_ posted [p:904753017] in Just stopp... [t:76790632]...</cite> <quote>Why'd you contribute so much and stop?</quote> ... Copied to Clipboard!
JBaLLEN66 07/09/18 9:37:44 AM #3:	Ki_cat_ posted... Why'd you contribute so much and stop? They manually took it out of my check every month and it was to get the matching stuff. I stopped because I plan on reforming my life and I dont like the path Im going right now. --- Him being greedy is a good thing. That means he'll want to spend less and help us get out of this debt. Gamefreak36 <cite>JBaLLEN66 posted [p:904753062] in Just stopp... [t:76790632]...</cite> <quote><cite>Ki_cat_ posted...</cite> <quote>Why'd you contribute so much and stop?</quote> They manually took it out of my check every month and it was to get the matching stuff. I stopped because I plan on reforming my life and I dont like the path Im going right now.</quote> ... Copied to Clipboard!
PoopPotato 07/09/18 9:38:37 AM #4:	What's the new plan of action? --- http://i.minus.com/i5EWBMXTN4ERv.gif <cite>PoopPotato posted [p:904753088] in Just stopp... [t:76790632]...</cite> <quote>What's the new plan of action?</quote> ... Copied to Clipboard!
JBaLLEN66 07/09/18 9:40:37 AM #5:	PoopPotato posted... What's the new plan of action? Save my money, and use it to start my own business, start investing in real estate or flipping ***, etc --- Him being greedy is a good thing. That means he'll want to spend less and help us get out of this debt.* Gamefreak36 <cite>JBaLLEN66 posted [p:904753158] in Just stopp... [t:76790632]...</cite> <quote><cite>PoopPotato posted...</cite> <quote>What's the new plan of action?</quote> Save my money, and use it to start my own business, start investing in real estate or flipping ****, etc</quote> ... Copied to Clipboard!
mistalightbulb 07/09/18 9:42:39 AM #6:	you can give that money to me every month and i will invest it for you <cite>mistalightbulb posted [p:904753218] in Just stopp... [t:76790632]...</cite> <quote>you can give that money to me every month and i will invest it for you</quote> ... Copied to Clipboard!
PoopPotato 07/09/18 9:44:23 AM #7:	Sounds good. Food trucks might be an option as well. Kids YouTube channels are pretty big right now too. Kinda strange how my kid ditched cartoons to watch other kids do shit on YouTube. --- http://i.minus.com/i5EWBMXTN4ERv.gif <cite>PoopPotato posted [p:904753277] in Just stopp... [t:76790632]...</cite> <quote>Sounds good. Food trucks might be an option as well. Kids YouTube channels are pretty big right now too. Kinda strange how my kid ditched cartoons to watch other kids do shit on YouTube.</quote> ... Copied to Clipboard!
JBaLLEN66 07/09/18 9:44:24 AM #8:	mistalightbulb posted... you can give that money to me every month and i will invest it for you Lol thats no different than a 401k --- Him being greedy is a good thing. That means he'll want to spend less and help us get out of this debt. Gamefreak36 <cite>JBaLLEN66 posted [p:904753278] in Just stopp... [t:76790632]...</cite> <quote><cite>mistalightbulb posted...</cite> <quote>you can give that money to me every month and i will invest it for you</quote> Lol thats no different than a 401k</quote> ... Copied to Clipboard!
JBaLLEN66 07/09/18 9:44:54 AM #9:	PoopPotato posted... Sounds good. Food trucks might be an option as well. Kids YouTube channels are pretty big right now too. Kinda strange how my kid ditched cartoons to watch other kids do shit on YouTube. My little sisters are always on YouTube watching that stuff lol --- Him being greedy is a good thing. That means he'll want to spend less and help us get out of this debt. Gamefreak36 <cite>JBaLLEN66 posted [p:904753295] in Just stopp... [t:76790632]...</cite> <quote><cite>PoopPotato posted...</cite> <quote>Sounds good. Food trucks might be an option as well. Kids YouTube channels are pretty big right now too. Kinda strange how my kid ditched cartoons to watch other kids do shit on YouTube.</quote> My little sisters are always on YouTube watching that stuff lol</quote> ... Copied to Clipboard!
clearaflagrantj 07/09/18 9:45:23 AM #10:	JBaLLEN66 posted... PoopPotato posted... What's the new plan of action? Save my money, and use it to start my own business, start investing in real estate or flipping **, etc So instead of getting tax free PLUS employer matching money and investing it in mutual funds that will double every 8-12 years and provide a massive nest egg for retirement you plan on taking out taxed money to throw it at risky bets and potentially lose everything. Let's say you're in the 22% marginal tax bracket. You can either receive a dollar + the employer match for another $1 and invest it in a mutual fund where it will grow to $30 adjusted for inflation in 40 years, or you can take it out taxed and receive a measly 78 cents. <cite>clearaflagrantj posted [p:904753315] in Just stopp... [t:76790632]...</cite> <quote><cite>JBaLLEN66 posted...</cite> <quote><cite>PoopPotato posted...</cite> <quote>What's the new plan of action?</quote> Save my money, and use it to start my own business, start investing in real estate or flipping **, etc</quote> So instead of getting tax free PLUS employer matching money and investing it in mutual funds that will double every 8-12 years and provide a massive nest egg for retirement you plan on taking out taxed money to throw it at risky bets and potentially lose everything. Let's say you're in the 22% marginal tax bracket. You can either receive a dollar + the employer match for another $1 and invest it in a mutual fund where it will grow to $30 adjusted for inflation in 40 years, or you can take it out taxed and receive a measly 78 cents.</quote> ... Copied to Clipboard!
AlecSkorpio 07/09/18 9:48:29 AM #11:	But Clear... YOLO --- https://imgtc.com/i/XLz4tpM.jpg <cite>AlecSkorpio posted [p:904753439] in Just stopp... [t:76790632]...</cite> <quote>But Clear... YOLO</quote> ... Copied to Clipboard!
JBaLLEN66 07/09/18 9:48:58 AM #12:	clearaflagrantj posted... JBaLLEN66 posted... PoopPotato posted... What's the new plan of action? Save my money, and use it to start my own business, start investing in real estate or flipping **, etc So instead of getting tax free PLUS employer matching money and investing it in mutual funds that will double every 8-12 years and provide a massive nest egg for retirement you plan on taking out taxed money to throw it at risky bets and potentially lose everything. Let's say you're in the 22% marginal tax bracket. You can either receive a dollar + the employer match for another $1 and invest it in a mutual fund where it will grow to $30 adjusted for inflation in 40 years, or you can take it out taxed and receive a measly 78 cents. Well I cant touch it till Im 65, and ** working in corporate America/investing life that long to settle for some mediocre retirement life Im not even guaranteed by Mother Nature or economy. --- Him being greedy is a good thing. That means he'll want to spend less and help us get out of this debt. Gamefreak36 <cite>JBaLLEN66 posted [p:904753456] in Just stopp... [t:76790632]...</cite> <quote><cite>clearaflagrantj posted...</cite> <quote><cite>JBaLLEN66 posted...</cite> <quote><cite>PoopPotato posted...</cite> <quote>What's the new plan of action?</quote> Save my money, and use it to start my own business, start investing in real estate or flipping **, etc</quote> So instead of getting tax free PLUS employer matching money and investing it in mutual funds that will double every 8-12 years and provide a massive nest egg for retirement you plan on taking out taxed money to throw it at risky bets and potentially lose everything. Let's say you're in the 22% marginal tax bracket. You can either receive a dollar + the employer match for another $1 and invest it in a mutual fund where it will grow to $30 adjusted for inflation in 40 years, or you can take it out taxed and receive a measly 78 cents.</quote> Well I cant touch it till Im 65, and ** working in corporate America/investing life that long to settle for some mediocre retirement life Im not even guaranteed by Mother Nature or economy.</quote> ... Copied to Clipboard!
clearaflagrantj 07/09/18 9:51:14 AM #13:	JBaLLEN66 posted... clearaflagrantj posted... JBaLLEN66 posted... PoopPotato posted... What's the new plan of action? Save my money, and use it to start my own business, start investing in real estate or flipping **, etc So instead of getting tax free PLUS employer matching money and investing it in mutual funds that will double every 8-12 years and provide a massive nest egg for retirement you plan on taking out taxed money to throw it at risky bets and potentially lose everything. Let's say you're in the 22% marginal tax bracket. You can either receive a dollar + the employer match for another $1 and invest it in a mutual fund where it will grow to $30 adjusted for inflation in 40 years, or you can take it out taxed and receive a measly 78 cents. Well I cant touch it till Im 65, and working in corporate America/investing life that long to settle for some mediocre retirement life Im not even guaranteed by Mother Nature or economy. Google 72t loophole <cite>clearaflagrantj posted [p:904753538] in Just stopp... [t:76790632]...</cite> <quote><cite>JBaLLEN66 posted...</cite> <quote><cite>clearaflagrantj posted...</cite> <quote><cite>JBaLLEN66 posted...</cite> <quote><cite>PoopPotato posted...</cite> <quote>What's the new plan of action?</quote> Save my money, and use it to start my own business, start investing in real estate or flipping , etc</quote> So instead of getting tax free PLUS employer matching money and investing it in mutual funds that will double every 8-12 years and provide a massive nest egg for retirement you plan on taking out taxed money to throw it at risky bets and potentially lose everything. Let's say you're in the 22% marginal tax bracket. You can either receive a dollar + the employer match for another $1 and invest it in a mutual fund where it will grow to $30 adjusted for inflation in 40 years, or you can take it out taxed and receive a measly 78 cents.</quote> Well I cant touch it till Im 65, and ** working in corporate America/investing life that long to settle for some mediocre retirement life Im not even guaranteed by Mother Nature or economy.</quote> Google 72t loophole</quote> ... Copied to Clipboard!
Returning_CEmen 07/09/18 9:51:26 AM #14:	clearaflagrantj posted... JBaLLEN66 posted... PoopPotato posted... What's the new plan of action? Save my money, and use it to start my own business, start investing in real estate or flipping **, etc So instead of getting tax free PLUS employer matching money and investing it in mutual funds that will double every 8-12 years and provide a massive nest egg for retirement you plan on taking out taxed money to throw it at risky bets and potentially lose everything. Let's say you're in the 22% marginal tax bracket. You can either receive a dollar + the employer match for another $1 and invest it in a mutual fund where it will grow to $30 adjusted for inflation in 40 years, or you can take it out taxed and receive a measly 78 cents. He wants to take matters into his own hands and not work for the man anymore. Sometimes you gotta take a bet on yourself. --- https://imgur.com/mRP9Jej <cite>Returning_CEmen posted [p:904753543] in Just stopp... [t:76790632]...</cite> <quote><cite>clearaflagrantj posted...</cite> <quote><cite>JBaLLEN66 posted...</cite> <quote><cite>PoopPotato posted...</cite> <quote>What's the new plan of action?</quote> Save my money, and use it to start my own business, start investing in real estate or flipping **, etc</quote> So instead of getting tax free PLUS employer matching money and investing it in mutual funds that will double every 8-12 years and provide a massive nest egg for retirement you plan on taking out taxed money to throw it at risky bets and potentially lose everything. Let's say you're in the 22% marginal tax bracket. You can either receive a dollar + the employer match for another $1 and invest it in a mutual fund where it will grow to $30 adjusted for inflation in 40 years, or you can take it out taxed and receive a measly 78 cents.</quote> He wants to take matters into his own hands and not work for the man anymore. Sometimes you gotta take a bet on yourself.</quote> ... Copied to Clipboard!
PoopPotato 07/09/18 9:52:19 AM #15:	The structured 9-5 life isn't suitable for everyone. If JBallen has the drive to succeed, he will succeed. And he gets to do it on his own terms. Why wait until retirement to enjoy life? --- http://i.minus.com/i5EWBMXTN4ERv.gif <cite>PoopPotato posted [p:904753575] in Just stopp... [t:76790632]...</cite> <quote>The structured 9-5 life isn't suitable for everyone. If JBallen has the drive to succeed, he will succeed. And he gets to do it on his own terms. Why wait until retirement to enjoy life?</quote> ... Copied to Clipboard!
mistalightbulb 07/09/18 9:55:51 AM #16:	JBaLLEN66 posted... mistalightbulb posted... you can give that money to me every month and i will invest it for you Lol thats no different than a 401k oh it's plenty different, as the investment will be for me <cite>mistalightbulb posted [p:904753699] in Just stopp... [t:76790632]...</cite> <quote><cite>JBaLLEN66 posted...</cite> <quote><cite>mistalightbulb posted...</cite> <quote>you can give that money to me every month and i will invest it for you</quote> Lol thats no different than a 401k</quote> oh it's plenty different, as the investment will be for me</quote> ... Copied to Clipboard!
clearaflagrantj 07/09/18 9:56:17 AM #17:	Returning_CEmen posted... He wants to take matters into his own hands and not work for the man anymore. Sometimes you gotta take a bet on yourself. I'd rather bet on mutual funds so I get money by investing in literally every fucking company and bond in this country. PoopPotato posted... The structured 9-5 life isn't suitable for everyone. If JBallen has the drive to succeed, he will succeed. And he gets to do it on his own terms. Why wait until retirement to enjoy life? Many people fail. If you live well within your means and save 30-70% of your income you can retire significantly early. I live on 55% of my net income and if I continue at this level I will be able to retire by age 39. <cite>clearaflagrantj posted [p:904753715] in Just stopp... [t:76790632]...</cite> <quote><cite>Returning_CEmen posted...</cite> <quote>He wants to take matters into his own hands and not work for the man anymore. Sometimes you gotta take a bet on yourself.</quote> I'd rather bet on mutual funds so I get money by investing in literally every fucking company and bond in this country. <cite>PoopPotato posted...</cite> <quote>The structured 9-5 life isn't suitable for everyone. If JBallen has the drive to succeed, he will succeed. And he gets to do it on his own terms. Why wait until retirement to enjoy life?</quote> Many people fail. If you live well within your means and save 30-70% of your income you can retire significantly early. I live on 55% of my net income and if I continue at this level I will be able to retire by age 39.</quote> ... Copied to Clipboard!
PoopPotato 07/09/18 10:00:22 AM #18:	Can't be afraid to fail. Even if he does fail, you just try again until you succeed. Good for you for having and working on your goal of retiring at 39. That would be a big achievement. --- http://i.minus.com/i5EWBMXTN4ERv.gif <cite>PoopPotato posted [p:904753870] in Just stopp... [t:76790632]...</cite> <quote>Can't be afraid to fail. Even if he does fail, you just try again until you succeed. Good for you for having and working on your goal of retiring at 39. That would be a big achievement.</quote> ... Copied to Clipboard!
JBaLLEN66 07/09/18 10:03:10 AM #19:	I dont want to retire at 39. I either want to make **** ton of money to where I can buy me exotic cars and a castle or just live a minimalist non 9-5 corporate hellmerica life. --- Him being greedy is a good thing. That means he'll want to spend less and help us get out of this debt. Gamefreak36 <cite>JBaLLEN66 posted [p:904753976] in Just stopp... [t:76790632]...</cite> <quote>I dont want to retire at 39. I either want to make **** ton of money to where I can buy me exotic cars and a castle or just live a minimalist non 9-5 corporate hellmerica life.</quote> ... Copied to Clipboard!
TomNook20 07/09/18 10:34:12 AM #20:	clearaflagrantj posted... I live on 55% of my net income and if I continue at this level I will be able to retire by age 39. How much do you expect to have by then? Plan to live frugally the rest of your life or is this a bet on bitcoin? --- http://fc02.deviantart.net/fs70/f/2011/098/7/4/tom_nook_by_themerce-d3dhi0q.png http://www.gameswagonline.com/uploads/9/0/8/9/9089979/1372277527.jpg <cite>TomNook20 posted [p:904755255] in Just stopp... [t:76790632]...</cite> <quote><cite>clearaflagrantj posted...</cite> <quote> I live on 55% of my net income and if I continue at this level I will be able to retire by age 39. </quote> How much do you expect to have by then? Plan to live frugally the rest of your life or is this a bet on bitcoin?</quote> ... Copied to Clipboard!
iHuman 07/09/18 10:35:49 AM #21:	401ks are for suckers and are designed to keep you as a wage slave for 30 years "hey in 30 or 40 years you'll have maybe a million dollars and maybe inflation won't make that completely worthless if you work for us for the rest of your life" --- Intelligence is just a 12 letter word, what are you? -Me <cite>iHuman posted [p:904755325] in Just stopp... [t:76790632]...</cite> <quote>401ks are for suckers and are designed to keep you as a wage slave for 30 years "hey in 30 or 40 years you'll have maybe a million dollars and maybe inflation won't make that completely worthless if you work for us for the rest of your life"</quote> ... Copied to Clipboard!
JBaLLEN66 07/09/18 10:48:42 AM #22:	TomNook20 posted... clearaflagrantj posted... I live on 55% of my net income and if I continue at this level I will be able to retire by age 39. How much do you expect to have by then? Plan to live frugally the rest of your life or is this a bet on bitcoin? Lol exactly --- Him being greedy is a good thing. That means he'll want to spend less and help us get out of this debt. Gamefreak36 <cite>JBaLLEN66 posted [p:904755843] in Just stopp... [t:76790632]...</cite> <quote><cite>TomNook20 posted...</cite> <quote><cite>clearaflagrantj posted...</cite> <quote> I live on 55% of my net income and if I continue at this level I will be able to retire by age 39. </quote> How much do you expect to have by then? Plan to live frugally the rest of your life or is this a bet on bitcoin?</quote> Lol exactly</quote> ... Copied to Clipboard!
clearaflagrantj 07/09/18 11:24:05 AM #23:	TomNook20 posted... clearaflagrantj posted... I live on 55% of my net income and if I continue at this level I will be able to retire by age 39. How much do you expect to have by then? Plan to live frugally the rest of your life or is this a bet on bitcoin? That plan is assuming all of my crypto investments go to zero, I don't factor them in my retirement plans. I could have ~$800,000 by 39 assuming no promotions/raises, which would allow me to withdraw roughly $30,000 annually. I could always continue working past 39 if I wanted to increase my passive income. Tax free growth sees 7% after inflation, so doubling from $800K would only take a few additional years. The slow boring method becomes powerful after a couple of decades <cite>clearaflagrantj posted [p:904757299] in Just stopp... [t:76790632]...</cite> <quote><cite>TomNook20 posted...</cite> <quote><cite>clearaflagrantj posted...</cite> <quote> I live on 55% of my net income and if I continue at this level I will be able to retire by age 39. </quote> How much do you expect to have by then? Plan to live frugally the rest of your life or is this a bet on bitcoin?</quote> That plan is assuming all of my crypto investments go to zero, I don't factor them in my retirement plans. I could have ~$800,000 by 39 assuming no promotions/raises, which would allow me to withdraw roughly $30,000 annually. I could always continue working past 39 if I wanted to increase my passive income. Tax free growth sees 7% after inflation, so doubling from $800K would only take a few additional years. The slow boring method becomes powerful after a couple of decades</quote> ... Copied to Clipboard!
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clearaflagrantj 07/09/18 1:01:36 PM #26:	Godnorgosh posted... clearaflagrantj posted... I live on 55% of my net income and if I continue at this level I will be able to retire by age 39. Do your calculations account for future inflation? If not, you may be forced right back into Room 1408 (figuratively speaking) like so many others with your goal. Yes it does account for inflation. 5% taxed growth and 7% tax free growth <cite>clearaflagrantj posted [p:904762217] in Just stopp... [t:76790632]...</cite> <quote><cite>Godnorgosh posted...</cite> <quote><cite>clearaflagrantj posted...</cite> <quote>I live on 55% of my net income and if I continue at this level I will be able to retire by age 39. </quote> Do your calculations account for future inflation? If not, you may be forced right back into Room 1408 (figuratively speaking) like so many others with your goal.</quote> Yes it does account for inflation. 5% taxed growth and 7% tax free growth</quote> ... Copied to Clipboard!
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Current Events > Just stopped contributing to my company's 401k plan AMA (+) Yeah! (+)

Current Events > Just stopped contributing to my company's 401k plan AMA