The Money Mustache Community
Around the Internet => Antimustachian Wall of Shame and Comedy => Topic started by: ducky19 on March 18, 2019, 09:58:22 AM
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I like to scroll through suggested news articles on my lunch break, and came across this gem.
https://www.forbes.com/sites/johnmauldin/2019/03/15/the-average-american-cant-save-enough-to-retire/#7aa4821f63de
Strangely enough, it was right above an article announcing LG's pricing and availability of the new model year's OLED smart TV's!
https://www.techhive.com/article/3367745/lg-announces-pricing-and-availability-of-its-2019-oled-smart-tv-lineup.html
I think I may have found the reason they can't save....
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Standout line:
"The simple fact of the matter is, it takes enormous discipline to save even 6% for your 401(k) at [$40,000 / yr]."
Really?
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It does seem to take more discipline than some people have, anyway.
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Standout line:
"The simple fact of the matter is, it takes enormous discipline to save even 6% for your 401(k) at [$40,000 / yr]."
Really?
Gee - I wish someone had told me that when I was saving ~17% of my income and only earning $32k. Granted I didn't even have a 401(k) option at the time, but still managed to max out my IRA.
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Wish these sites would not be so fear-based.
One of my favorite articles out there is about a dad who got his 15 yo daughter set up with a roth.
https://wealthyjoeinvesting.com/2017/11/18/guest-post-is-15-too-young-by-chris-pascale/
This kid is going to be perfectly fine, and saving 6% isn't going to be a Herculean effort.
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One of my favorite articles out there is about a dad who got his 15 yo daughter set up with a roth.
My dad did the same thing with me - one of the most important financial things he ever did was teach me about compound interest and the importance of starting early.
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Standout line:
"The simple fact of the matter is, it takes enormous discipline to save even 6% for your 401(k) at [$40,000 / yr]."
Really?
"Oh my goodness, how could I possibly afford to save $100 per paycheck? Unthinkable!!! Oh, the horror!"
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One of my favorite articles out there is about a dad who got his 15 yo daughter set up with a roth.
My dad did the same thing with me - one of the most important financial things he ever did was teach me about compound interest and the importance of starting early.
Your dad is a great man. You're very lucky.