If you make 2 or 3x the average household income in the USA, then you should be saving and index investing that extra 50 or 66 percent. If you don't, you are living a risky existence for stupid material things that mean nothing in the long run. Look at all of these posts here on the layoff forum. Realize that you are only 1 bad management decision away from earning a goose egg for a living. I retired at age 52. Because I earned several millions in about 20 years of working as a software developer at Fidelity Investments, by investing in index funds. I didn't want to retire but my stupid boss wanted to PIP me. And I had enough money. And I had enough of his BS. And I had an option to get out of the working world entirely. Because of simple decisions like driving a 20 year old car. And working on it myself. And investing in index funds. So simple. The future is never guaranteed. The present is your zone to make the most of, in the best interest of your future self. Layoff forum is just a wake up call to make your future financially secure.
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Ruck off! You wally ball jacker!
@c2 Excellent! Keep living the life you want and dream of! Bless you!
@bx I've got to totally agree with that. And it took me 30 years of work, and just as importantly, 'focus', to get there.
@d7 Ok It's anonymous, but I had about 30k in 2006 and was unemployed. I got employed with Fidelity and straight up invested in Berkshire, Nasdaq100 and s&p. I dollar cost averaged (contributed blindly) for almost 20 years. All of my bonuses, all of my matching on 401k, about half of the rest of my take home pay. OMG I was getting 140k as a senior sw dev my last year. My mortgage was 1200/mo. My food was 500/mo. I had no other expenses. My kids were out of the house. I had electric/water and gas/insurance for my car. That was under 2500/mo. I was saving nearly 8-10,000/month and investing it. Go figure the results and how I was able to tell my boss to !@#$%^& himself. LOL.
@dk I can totally relate to that, what you're saying. My simple response is that each one of us has a choice, and I've told my story in hopes that someone may benefit from hearing my choice/choices. Bless you!
@d7 the 4% rule is a fantastic rule of thumb to start with. Look it up. 4% of your net worth (excluding your primary residence). I spend a slight bit under that percentage yearly but I find that my life is way more awesome than I ever dreamed of, at that percentage. And the best part is that my only boss that I have to report to is ME. hahha! So true and even crazy to think of.
@OP This sounds less like wisdom and more like someone who lived for himself and calls it freedom. You’re right: the world’s fragile and simplicity helps, but hoarding is not “freedom” its just fear in a nicer suit. Independence isn’t salvation; it’s just another illusion of control. Real security is a clear conscience and a life that still means something when the money’s gone.
@OP how much in savings did you have when you retired? I'm your age and trying to decide what my realistic number is to get out
You’re probably someone who adores the CCP social credit score tyranny. Leave us alone.
This year is a good year. I paid off my house. I have a 2019, 2012 and 1997 cars, all still running great. No debt. I max out my 401K, and my HSA. I'm 5 years from considering retirement. I don't live to the excess, but when we want to take the family to dinner, I can afford it. I pay everything I can with CC and gather points so my vacations are half the cost.
If you manage things correctly, you can live a nice life.
mic drop
No job anywhere is ever safe. Everyone talks about having an emergency fund, but no one thinks about a “ fire your boss fund”. I say have both!
Nothing is more satisfying than looking at that “ you’re fired boss” fund growing with each check. Knowing you can walk away at any given time is true freedom and a fantastic feeling.