At 65: A House Paid for and low bills > 401k Retirement Fund

[ItsPeople]

God bless you if you had parents to instill in you the power of compounding interest and delayed gratification.

If you had the discipline to put away a measly $300/m from 18-38 in the s&p500 and managed to not knock up anyone’s daughter, you would have had $227,000 today to do as you please but na we want to fukk everything and stunt from the time we turn 21.

 

[BlackBall]

Good luck beating Blackstone

 

[Gloxina]

God bless you if you had parents to instill in you the power of compounding interest and delayed gratification.

If you had the discipline to put away a measly $300/m from 18-38 in the s&p500 and managed to not knock up anyone’s daughter, you would have had $227,000 today to do as you please but na we want to fukk everything and stunt from the time we turn 21.

Well, that’s the difference between coming from a household that teaches you about financial literacy and a household that tells you that your grown and to figure it out on your own



Many come from the latter so …..yea

 

[Dallas' 4 Eva]

I have a pension, annuity, private investment account(one for my son as well), two whole life insurance policies(and another one for my son which I'm giving to him), on top of 5% of my weekly net goes to a savings account called my 'vacation fund' which I never touch. If I inherit my parents house which they tell me I will I'll also get their mortgage which is locked in at 3% interest and they mortgage is like $1800/month.

 

[phcitywarrior]

I'm not even factoring in Social Security in my long term financial planning. Because the program is toast it's just a matter of time before it fails.

To be honest, even my 401K I’m not factoring. I’m still contributing my 5% to get my company’s match ($2 for every $1) but I’m of the belief that I’ll always keep working until I pass but as I get into my later years, it’ll be more of my capital working for me.

There will also have to be a massive correction in the stock market. Debt burdens across the globe are immense.

 

[ItsPeople]

Well, that’s the difference between coming from a household that teaches you about financial literacy and a household that tells you that your grown and to figure it out on your own



Many come from the latter so …..yea

Every generation has to “get it out the mud”

Naw nicca eventually one day my descent will be born will a gold spoon in his mouf and grow up to be a stuck up prick.

 

[winb83]

God bless you if you had parents to instill in you the power of compounding interest and delayed gratification.

If you had the discipline to put away a measly $300/m from 18-38 in the s&p500 and managed to not knock up anyone’s daughter, you would have had $227,000 today to do as you please but na we want to fukk everything and stunt from the time we turn 21.

I got to $227K in my brokerage accounts from the last 6 years and I only contributed $108K the rest is growth.

 

[Mr swag]

“Selling crack to the kids, who the hell cares.” - Tupac

 

[maxamusa]

OP how are you supposed to pay said bills with no 401k