Important thing to beware of is that the employer match often have conditions like you have to work at the company for at least 3 years or something like that in order for the match amount to vest.
I have about $300k in 401k and 78k in HSA, todayI'm blessed to own multiple properties, drive vehicles I once dreamed of having, and earn over$ 7 k a week from the assets and income streams I've built over time. More importantly, I've gained the freedom to spend time the way I choose. If there's one lesson I've learned, it's that life can change dramatically when you stay consistent long enough. The person struggling today may be the person inspiring others tomorrow.
Don't worry you will be death or wishing to be death. Retirement is a scam nobody needs alot of money to be old and sick. Its not like you can do anything then.
I'm retiring in Thailand at 56. We're in the process of buying a house there now and the cost is so low that I can pay cash or have a payment that is < $500 a month. Cheers.
I did all this before I retired. And I created this financial mantra for myself: Budget, Get and stay out of debt, Live below your means, Save, and Invest. I live by that mantra every day. Oh, and another helpful thing I did was I started also maxing out my HSA and I learned I could use it as a brokerage account too, so I took 2/3's of what I had in my HSA and I put it into an ETF. The money is growing and growing. I've been retired 10 years now and I've only had to pull any money out of the brokerage account to put into the cash account once. I use it for all my medical and dental co-pays and its tax free!
Just started at 58! Single mom grown kids! Saving 15% of my 401k and $8,600 to my Roth!Trust me when I tell u the devil will tell u that u can't do it, but what people are not taught is this" contribute 15% of ur paycheck to ur 401k then direct deposit out of each paycheck the amount it will take to max out ur Roth IRA($8,600 ÷26)after doing these 2 things then this is the amount u have to spend on bills! Not paying bills first! Then Saving! Bc there is never nothing to save! I wish I had known this in my 20's, but when we know better we do better better!
Im very lucky to retire with a pension. Sad that pension doesn’t exist anymore in the private sector. I will be collecting my first social security payment next month and i also have a 401k account. People need to plan early in their life to their retirement. The new generations enjoy spending money instead of saving for the future of their retirement.
I started to face my retirement readiness last year after becoming a single income earner for my family. I started with just a 401K that had very minimal growth. fast forward to today, my 401k is growing, building an emergency fund with HYSA, added Roth IRA and tax brokerage account into my retirement baskets! I did al these without getting a 2nd job!
My mortgage will be paid off by the time I retire.Long Term health care will probably be the biggest fixed expense but that's 15-20 years into the future.
this is hardly enough for those without retirement accounts to catch up, especially the housing, its more expensive to move now, even downsizing because of interest rates, than to stay put
Important thing to beware of is that the employer match often have conditions like you have to work at the company for at least 3 years or something like that in order for the match amount to vest.
I have about $300k in 401k and 78k in HSA, todayI'm blessed to own multiple properties, drive vehicles I once dreamed of having, and earn over$ 7 k a week from the assets and income streams I've built over time. More importantly, I've gained the freedom to spend time the way I choose. If there's one lesson I've learned, it's that life can change dramatically when you stay consistent long enough. The person struggling today may be the person inspiring others tomorrow.
Don't worry you will be death or wishing to be death. Retirement is a scam nobody needs alot of money to be old and sick. Its not like you can do anything then.
Hi Vivian I am 45 years old is now good time to open 401K?
Stop spending money on useless shit and eating out all the time.
Great job n service you are going Viv.
God bless you
Thanks for sharing ❤
I just wamt to make sure I could travel the world in retirement
I need to move to living in my car to save money
I just love watching you ❤
What about those in the gig economy?
❤❤❤❤❤❤
I'm retiring in Thailand at 56. We're in the process of buying a house there now and the cost is so low that I can pay cash or have a payment that is < $500 a month. Cheers.
Always good advice! ⭐️💗
I did all this before I retired. And I created this financial mantra for myself: Budget, Get and stay out of debt, Live below your means, Save, and Invest. I live by that mantra every day. Oh, and another helpful thing I did was I started also maxing out my HSA and I learned I could use it as a brokerage account too, so I took 2/3's of what I had in my HSA and I put it into an ETF. The money is growing and growing. I've been retired 10 years now and I've only had to pull any money out of the brokerage account to put into the cash account once. I use it for all my medical and dental co-pays and its tax free!
Thanks.
I like Viv. Great insights and Advice
Just started at 58! Single mom grown kids! Saving 15% of my 401k and $8,600 to my Roth!Trust me when I tell u the devil will tell u that u can't do it, but what people are not taught is this" contribute 15% of ur paycheck to ur 401k then direct deposit out of each paycheck the amount it will take to max out ur Roth IRA($8,600 ÷26)after doing these 2 things then this is the amount u have to spend on bills! Not paying bills first! Then Saving! Bc there is never nothing to save! I wish I had known this in my 20's, but when we know better we do better better!
But not many employers today have this program contributed the funds, we do our own retirement plans.
Don't forget preventing divorce by not getting married. Stack silver, and saving nickles,
You are my rich BFF
What a great positive channel! Ppl like her need to be our community/country leaders
No need for any catchup savings. My retirement plan is hole in my head when the well runs dry. I've accepted it as the way.
Im very lucky to retire with a pension. Sad that pension doesn’t exist anymore in the private sector. I will be collecting my first social security payment next month and i also have a 401k account. People need to plan early in their life to their retirement. The new generations enjoy spending money instead of saving for the future of their retirement.
❤
I started to face my retirement readiness last year after becoming a single income earner for my family. I started with just a 401K that had very minimal growth. fast forward to today, my 401k is growing, building an emergency fund with HYSA, added Roth IRA and tax brokerage account into my retirement baskets! I did al these without getting a 2nd job!
My mortgage will be paid off by the time I retire.Long Term health care will probably be the biggest fixed expense but that's 15-20 years into the future.
this is hardly enough for those without retirement accounts to catch up, especially the housing, its more expensive to move now, even downsizing because of interest rates, than to stay put
My BFF will take care of me