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s0nicfan 01/24/23 8:37:36 PM #52: |
Blue "I had to declare bankruptcy because I maxxed out too many credit cards for the points" monk out here complaining about saving for retirement is comedy gold. inb4 "who posted" --- "History Is Much Like An Endless Waltz. The Three Beats Of War, Peace And Revolution Continue On Forever." - Gundam Wing: Endless Waltz ... Copied to Clipboard!
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SHRlKE 01/25/23 12:03:39 AM #53: |
As a Brit what is a 401k? ... Copied to Clipboard!
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Turtlebread 01/25/23 12:06:44 AM #54: |
Yes its a scam its literally impossible to enjoy life when youre 60 anyway so whats the point --- http://i.imgur.com/yCW15Zn.jpg ... Copied to Clipboard!
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pick4six 01/25/23 6:47:30 AM #55: |
SHRlKE posted... As a Brit what is a 401k?Im at employee benefit retirement fund, you enroll every year with your employee and they match a certain amount. unfortunately 401k got so popular they replaced pension benefits. --- Bitcoin! ... Copied to Clipboard!
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EndOfDiscOne 01/25/23 7:15:51 AM #56: |
If youre spending 80-90k per year you should be able to save 1.5k per month easy. Work on cutting your expenses. --- I am the Cheese! I am the best character on the show! I am better than both the salami and the bologna COMBINED! ... Copied to Clipboard!
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SHRlKE 01/25/23 12:57:36 PM #57: |
pick4six posted... Im at employee benefit retirement fund, you enroll every year with your employee and they match a certain amount. unfortunately 401k got so popular they replaced pension benefits. Oh ok. That makes sense. Here in the UK we get a "state pension" which everyone gets when they reach retirement age which is 68 for most people. For people closer to retirement it's currently 65. The state pension currently works out to about $12,000 a year in your money. It sounds like we have similar to a 401k which we just call a "workplace pension" which is essentially just a private pension through your employer. It sounds similar where your employer contribute a minimum of 3% and there is a requirement of needing a minimum of 8% between employee and employer combined. I actually contribute 15% in total at the moment (5% from work and 10% my own). It became mandatory for an employer to enrol you in one of these schemes a few years back although you do have the right to leave. So it's opt out rather than opt in. I think the reason these were made mandatory is because the government realised that the state pension just isn't going to cut it anymore and could see a big fucking issue in 30 years as people are struggling so much that they couldn't afford a standard private pension so didn't bother enrolling. By making it mandatory they are hoping people just don't bother to opt out. There are benefits through doing it through your workplace as it's taken from your pay BEFORE tax so you effectively get an extra ~20% (for most people) on whatever you put in versus a traditional private pension. There is a big furore about them raising the pension age in the UK. I think the desire to raise the pension age is because people are living longer and the government bill gets bigger and bigger every year. The bit in bold worries me they'll do something similar over here which is essentially a 10k cut for everyone's retirement. Just sounds like an excuse for the government to cut costs. ... Copied to Clipboard!
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Cocytus 01/25/23 1:00:13 PM #58: |
_BlueMonk posted... AND REPUBLICANS WANT TO CANCEL SOCIAL SECURITY!?!??!?!?!They won't. It would simply put too many people out on the streets the next day. They'd have an entirely new and different problem on their hands. ... Copied to Clipboard!
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Mew 01/25/23 1:08:08 PM #59: |
Prismsblade posted... I wish instead of SS we had Singapores system that you're essentially forced to save out of pocket individually for retirement.Omg CPF getting mentioned here on gfaqs, never thought I'd see the day --- https://gfycat.com/tensescarygermanshepherd ... Copied to Clipboard!
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