UncleTomFord15
Veteran
Op, why are you so against 401ks?
At 65: A House Paid for and low bills > 401k Retirement Fund
- Thread starter Stuntone
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Dorian Breh
Veteran
I mean philosophically yes. There's enough "value".
Economically there is not enough available money, too much of it is in offshore banks.
I agree that it's something humanity needs to solve. And I think maybe it can be solved. But I think you're not being totally realistic about the mechanics of the problem.
UncleTomFord15
Veteran
Invest in a Roth IRA
401k
After tax brokerage account
Purchase a house (to live in)
Purchase rentals/Land
Start investing in atleast 3 of these as soon as possible and you'll be good. Preferably a Roth IRA, 401k and a home to live in.
Edit: Also buy term life insurance.
401k
After tax brokerage account
Purchase a house (to live in)
Purchase rentals/Land
Start investing in atleast 3 of these as soon as possible and you'll be good. Preferably a Roth IRA, 401k and a home to live in.
Edit: Also buy term life insurance.
Last edited:
Because he's a retard.
You can't draw income from your home in retirement. You can from a 401k (plus a pension if offered by your job, and social security, if it is still around).
You can use your house as additional income in a lot of cases tho.
Rent it out, or just downsize when you’re in your older age and hopefully you have it paid off and enough equity in it
FactsTax-deferred, compounding growth with additional free money from your employer is a scam?
This thread is some of the worst financial advice I've seen on the board which is saying a LOT.
How the fukk you gonna pay for "low bills" if you don't have a retirement account? By not fukking retiring and working for the rest of your life.
Rick Fox at UNC
All Star
While I agree, this should be the plan earlier than 65, if possible.
Also believe that if you play your cards right, you should not be retired at 65. You should be hitting an intellectual stride and really contributing to your field.
My grandmother didn't retire until she was 80, had nothing to with finances.
Vint Cerf is 81 and still working at Google. Robert Caro is 89 and still writing about Johnson. Harold Bloom was 89 when he died.
Stop letting this hustle culture fool you, stop letting this "retire early" culture fool you.
Also believe that if you play your cards right, you should not be retired at 65. You should be hitting an intellectual stride and really contributing to your field.
My grandmother didn't retire until she was 80, had nothing to with finances.
Vint Cerf is 81 and still working at Google. Robert Caro is 89 and still writing about Johnson. Harold Bloom was 89 when he died.
Stop letting this hustle culture fool you, stop letting this "retire early" culture fool you.
Rick Fox at UNC
All Star
Exactly what it is.
Still gotta pay property taxes
I know people in Florida who've been paying 2000 a yr tops for years, developments popu up, people move in, property taxes skyrocket
If your 65 and your property taxes jump 10000 dollars in 5 yrs, which i have seen in central Florida, your probably gonna have to sell your house
Didn't know this until I became a homeowner, but property taxes are attached to the homes estimated value. The more work u do on the homes exterior, your taxes go up
They building a new sports stadium/Riverwalk? Property taxes go up, don't pay them your house gets foreclosed and auctioned.
Realistically your gonna need both, a paid off home and a source of revenue to rely on great enough to provide for inflation
Most of us will never truly retire
I know people in Florida who've been paying 2000 a yr tops for years, developments popu up, people move in, property taxes skyrocket
If your 65 and your property taxes jump 10000 dollars in 5 yrs, which i have seen in central Florida, your probably gonna have to sell your house
Didn't know this until I became a homeowner, but property taxes are attached to the homes estimated value. The more work u do on the homes exterior, your taxes go up
They building a new sports stadium/Riverwalk? Property taxes go up, don't pay them your house gets foreclosed and auctioned.
Realistically your gonna need both, a paid off home and a source of revenue to rely on great enough to provide for inflation
Most of us will never truly retire
NotAnFBIagent
[redacted]
Live fast die young
How old are you bruh and where do you currently reside?