Thats… that’s now how you use the meme.
‘bad thing/good thing penguim’ strikes again. Annoys me people forget it’s supposed to be social situations
Good thing bad thing penguin
That penguin hasn’t been this undecided since 2010! :0
We don’t get to retire
Compounding interest is a hell of a drug.
Saving anything is infinitely better than saving nothing.
Retiring is possible for anyone with an education, but it is a sacrifice, and a gamble on not dying
Anyone can save for retirement, even without a formal education. It just time and diligence to save, and then some reading to learn how to invest.
It just time and diligence to save
It’s just having the self-control to live below your means.
Try playing with this. Set the interest rate to 7%. Assume you will live to 75 (average us life expectancy) and retire at 65.
Now change the monthly contribution amount to the most you can comfortably contribute right now if you opened an IRA IRA.
This is your low estimate of your retirement savings. As you get older hopefully you earn more and can contribute more.
Just curious how you came up with 7%? I was always taught to expect the yearly return to be 4%
My number I picked after reading about historical averages.
https://awealthofcommonsense.com/2021/05/200-years-of-asset-class-returns/
4% stays ahead of normal inflation, 7% matches greedflation.
I found this even more helpful.
The meme were broken today
This is why you gotta use a Roth IRA, if you pull from it before 59 it’s heavily taxed. Forces you to save
Pretty sure you can pull contributions before 59 at anytime penalty free. Gains though and yeah you’ll pay penalties and taxes on.
No, a traditional IRA would be even better for that. With a Roth, you can withdraw the principal without penalty since it was after-tax to begin with; it’s only the gains that you get punished for taking out. In contrast, any amount of withdrawal from a traditional account incurs a penalty (with a few exceptions, such as using it to buy your first house or whatever).
Trans… saving up for a boob job
I hear ya
