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Current Events > What the hell you're supposed to have a year's salary saved by age 30?

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BignutzisBack
02/13/21 12:12:41 PM
#1:


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Lost_All_Senses
02/13/21 12:13:39 PM
#2:


The trick is to make sure you don't have a salary. A year of 0 is 0. Stay winning

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Trumble
02/13/21 12:13:51 PM
#3:


I'm 30 later this year and I have nearly twice my average yearly pay saved. About $3000 away; I might have it by the time I actually turn 30. Of course, it's a lot easier to do this as someone who works part-time with a partner who works full time.

Apparently tho you're supposed to start investing at 28. I haven't done any serious investing yet, just savings accounts and very small scale playing with crypto (more on a "just for fun" level than anything that could be considered an actual investment).

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CommonJoe
02/13/21 12:14:14 PM
#4:


Thats a boomerism. Dont fall for boomerisms. They dont know what theyre talking about.

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Coloradough
02/13/21 12:14:22 PM
#5:


That doesn't seem hard at all. Why are you spending so much of your paycheck?

Unless you have a lot of debt, then it makes sense

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Antifar
02/13/21 12:14:31 PM
#6:


The secret is not making very much.

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Trumble
02/13/21 12:15:39 PM
#7:


CommonJoe posted...
Thats a boomerism. Dont fall for boomerisms. They dont know what theyre talking about.

Lefties say shit like this and wonder why they're always finding life hard. >_>

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Jiek_Fafn
02/13/21 12:17:20 PM
#8:


This is right up there with "You need $1 million saved to comfortably retire".

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BignutzisBack
02/14/21 1:20:11 AM
#9:


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God_Of_Entirety
02/14/21 1:21:51 AM
#10:


CommonJoe posted...
Thats a boomerism. Dont fall for boomerisms. They dont know what theyre talking about.

Jiek_Fafn posted...
This is right up there with "You need $1 million saved to comfortably retire".
THESE

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TRICKFINGER
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BignutzisBack
02/14/21 1:26:22 AM
#11:


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nothanks1
02/14/21 1:30:41 AM
#12:


Is this supposed to be hard?
I could easily put away 70% of it each year if I stopped drinking/binging on junk food
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yunalenne10
02/14/21 1:32:16 AM
#13:


Does it count if I have more than that in assets rather than cash?

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God_Of_Entirety
02/14/21 1:32:55 AM
#14:


BignutzisBack posted...
@God_Of_Entirety how much do you need?
Depends on your lifestyle

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Dat_Cracka_Jax
02/14/21 1:33:46 AM
#15:


Jiek_Fafn posted...
This is right up there with "You need $1 million saved to comfortably retire".
Right, you need much more

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kage_53
02/14/21 1:35:56 AM
#16:


Dat_Cracka_Jax posted...
Right, you need much more

If you have a mortgage paid off you dont.
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BignutzisBack
02/14/21 2:39:13 PM
#17:


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Damn_Underscore
02/14/21 3:10:21 PM
#18:


Dat_Cracka_Jax posted...
Right, you need much more

That would be true if you lived on that $1 million alone. It would eventually run out most likely.

But if you take out a fixed amount annually or monthly and let the rest continue to grow, it will last much longer.

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littlebro07
02/14/21 3:12:36 PM
#19:


If you start a 401(k) when youre like 20 and your company matches your contributions its pretty easy

but yeah you can probably retire with like 500k if its properly invested and your house is already paid off

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