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/biz/ - Business & Finance

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57920767 No.57920767 [Reply] [Original]

So am I just fucked?
I did the math on my 401k yesterday.
>you will retire with $1.8m
>which will have the purchasing power of $800k today
Fuck. So what I get 5 years of retirement? That's it? And I make above median wages. I just don't get it. I guess the whole thing is a lie and retiring a millionaire is a meme.
>nb4 skill issue
Yeah, I know.

>> No.57920799
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>implying any of us will get to live to retirement age
Anon, I...

>> No.57920819

>pink ID
Some of us will. But we won't be able to retire.

>> No.57920856

>use the 401k goy

>> No.57921157

yeah retard, buy bitcoin. your 401k is a scam designed to extract value from you, bitcoin is not
unless you were born rich you need to take risks

>> No.57921241

What do you need 160k a year in retirement retard

>> No.57921257

>you will retire with $1.8m
>which will have the purchasing power of $800k today

Are you planning to retire next year ?

>> No.57921329

Don't worry, worldcoin will fix it. Sam altman and his AI overlords will give you UBI.

>> No.57921334

why do you even want to retire? people didnt retire for thousands of years and had happy lives. even now most people in the world never retire and theyre happier than you.

if you work a job you hate that wont let you retire anyway then do something else.

>> No.57921840

Buy a house when you're 35 with a 30 year mortgage. When you're 65 you'll have a payment free place to live for the remaining 20 years of your life. Without a huge rent or house payment your monthly expenses go way way down.

>> No.57921911

Shut the absolute fuck up

>> No.57921999

If you dont take financial risks you wont retire. All of the trends are against USA wagies right now. Global labor arbitrage will continue for a long time ad combined with inflation and taxation trends you need to take risks, not just rely on a job.

People in third world countries will retire earlier than you otherwise

>> No.57922188 [DELETED] 
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I will be the first one to address the elegant in the room: your frog is absolutely sublime!

>> No.57922203
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Burgerland is where you make money, not where you spend it.

>> No.57922226

Anyone under 50 counting on retirement is naïve. At the very least they are raising the age to 72. Besides, that is assuming fiat and society haven't rugged by then.

>> No.57922253

>buying 401k instead of internet beans

>> No.57922278

it's hilarious because your 30's are way better than your 20's as long as you didn't fuck up your life completely.

>> No.57923040
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Betabuxx cope.

>> No.57923067
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your 401k isn't your only investment r-right anon?

>> No.57923122

>yeah retard, buy bitcoin. your 401k is a scam designed to extract value from you
JP Morgan wouldn't mismanage my money for their own gain! That would be illegal!

>> No.57924226

>Cope the post

And what don’t anons understand about Schwab saying “You will own nothing”, and “We have too prepare for an angrier world”.

>> No.57924264

>people didnt retire for thousands of years and had happy lives
they retired from what we think of as work, they just turned their focus to helping the family or the household

>> No.57924473

It's important that brokies remember to check their social security estimator as well, as it will end up being a significant part of their retirement income.
Unless republicans finally succeed in gutting it first.

$800k at a 4% "safe withdrawal rate" would yield about $2,650 in monthly income.
Meanwhile, the average social security check is around $1,800.
Add up the two, and you've got $4,450 a month to live on.

Your healthcare needs will be handled through Medicare and Medicaid (unless republicans gut that too), so you'll mostly have to cover lodging, food and transportation on your budget.
So you have that to look forward to. You may feel bad knowing you're going to become a useless parasite sucking at the teat of the State, but remember, some money was taken out of every one of your paychecks to make it possible for today's old bastards to do the same, so it's just payback.

>> No.57926145

Smart 'brokies' don't consider social security or medicare when figuring for retirement income because there is no guarantee it will be there in X years (Dems or Pubs withstanding).

>> No.57926272
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the retirement of today was the default state of humanity before we became slaves in the industrial revolution, when our collective capital was stolen by the corporate oligarchs.

>spend all day hunting, fishing, homemaking, hanging out in the pub, productive hobbies, gardening, etc

this is what work was, and what retirement is today. so no, they never retired, because there was no insufferable mcjob to retire from.

>> No.57926281


people born in the 90s won't see a cent of social security until 100 years old minimum

>> No.57926285

That doesn't compute. If they were smart they wouldn't be broke.
Social security, medicare and medicaid are the only reasons we don't have 50 million homeless elders dying in the streets at this very moment.
It's a bit like that old saying.
> If you don't have enough money to live on, you have a problem.
> If 50 millions don't have enough money to live on, society has a problem.

>> No.57926307
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these kids today are just fucking lazy.

>> No.57927090
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>>which will have the purchasing power of $800k today
Who's going to tell him?