black dog
Free America
My bestie worked summers at Paul Reveres Buffett from HS summers, College and Law school.
Young Kids starting out in their Careers.
- Thread starter DoWhat
- Start date
That's not true - my mom and I are pretty much nothing alike. If you knew my mom and knew me you'd never put us together as mother and daughter.
This, OTOH, is great advice. I've picked up some terrific skills by jumping in the deep end.
That sounds like a dream retirement to me. There's going to Yellowstone, then there's being a part of Yellowstone.
LightRoasted
If I may ...
If I may ...
If a company does pay into a 401K for them, great, but no need to contribute personally. Later, whatever is there, will be somewhat of a bonus. Teach them to account for themselves and not to be lazy about it like the rest of the lazy minded people that will lose in the long run because of market crashes, and inflation. Remember, the house, the market, always wins. Because, they consider it a sin not to take advantage of the uninformed sucker.
Ehhh. Tell them to stay out of the markets, the returns never keep up with inflation, in addition to the fees paid. Instead have them purchase commodities, hard assets, such as gold and silver, or land. And before anyone says that gold and silver don't pay interest, well, of course they don't. But what they do, do, is protect the purchasing power of those dollars spent then. Because, inflation, inflation, inflation ~ expansion of the money supply. It is fact that under the current debt based money system, the only way to keep the system going is to keep creating money and adding it to the system, which, creates inflation.
If a company does pay into a 401K for them, great, but no need to contribute personally. Later, whatever is there, will be somewhat of a bonus. Teach them to account for themselves and not to be lazy about it like the rest of the lazy minded people that will lose in the long run because of market crashes, and inflation. Remember, the house, the market, always wins. Because, they consider it a sin not to take advantage of the uninformed sucker.
TPD
the poor dad
I would add that rather than the 401k the company offers, get a little education on individual stock investing for the long term. It doesn't take a lot of brains but a little time. For the last 30 years I have consistently gotten a better return in stocks than I have in mutual funds. The funds that a company offers in their 401k are not always great choices.
LightRoasted
If I may ...
jrt_ms1995
Well-Known Member
And then there's putting up with all the eff'ing tourists at Yellowstone!That sounds like a dream retirement to me. There's going to Yellowstone, then there's being a part of Yellowstone.
The buffalo take care of a lot of them.
And do!
I tell people that all the time , opportunities come knocking at the most inconvenient times . I've missed a few myself and I've answered a few times which became verrrrry lucrative . NEVER underestimate the possibilities!Probably the most valuable advice I was given as a young person:
"When opportunity knocks, answer the ****ing door."
But honestly, different people want different lives. You get someone who wants to be at the same job in the same house with the same spouse and the same friends their whole life; then there are people like me; then there's everyone in between. Neither is wrong or right, it's just the life that suits the individual. So advice I give wouldn't be appropriate to someone who values consistency and conformity.
PeoplesElbow
Well-Known Member
Kinda like the only time my doorbell rings is when I'm pooping.
Kinnakeet
Well-Known Member
Dont retire in the communist state of MD best advice yet
I have worked for the same company for 30+ years it gets boring and I have looked at and had offers from other companies but that would be starting over and now Im counting down to the day I retire with a pension payed by my employer and 1 that I have been paying for out of my check
I have worked for the same company for 30+ years it gets boring and I have looked at and had offers from other companies but that would be starting over and now Im counting down to the day I retire with a pension payed by my employer and 1 that I have been paying for out of my check
PeoplesElbow
Well-Known Member
Found out PA does not tax retirement or even 401k distributions!
OccamsRazor
Well-Known Member
Shouldn't have to when they charge everyone $0.27 per mile to drive on their turnpike!
PeoplesElbow
Well-Known Member
That's nothing, the drive from Baltimore to Boston is far worse.
Hell just a couple miles in Deleware costs $3.