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Forum ยป Remember, remember, the 5th of November ... of 2045. (Retirement Thread)
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Thread: Remember, remember, the 5th of November ... of 2045. (Retirement Thread)

post 1676846513 02-09-2023, 08:10 AM
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  1. Guyfawkes1010
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  1. Guyfawkes1010
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Remember, remember, the 5th of November ... of 2045. (Retirement Thread)

What are you boyos doing for retirement? Do you invest into your 401ks or roth IRAs(do you know the difference)? How much of a % are you saving each paycheck/mo?

Do you know how much you want to retire with? What your yearly income will be?

Do you even compound interest?
post 1676847253 02-09-2023, 08:24 AM
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#2
  1. semenreleaser
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  1. semenreleaser
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Originally Posted By Guyfawkes1010⏩
What are you boyos doing for retirement? Do you invest into your 401ks or roth IRAs(do you know the difference)? How much of a % are you saving each paycheck/mo?

Do you know how much you want to retire with? What your yearly income will be?

Do you even compound interest?
I max out my 401k through my employer.
I max out my HSA. Anything over my max out of pocket expenses gets invested. I save all my medical receipts in case I need to withdrawal from my HSA on a rainy day.
I have an individual IRA with about 50k in it, but I haven't been able to max it out the past few years due to inflation.

I have about 450k between my HSA/401k/IRA.

I don't know the exact percentages, but I make 130k, and between taxes and retirement, I take home slightly less than half of my paycheck.
post 1676848033 02-09-2023, 08:35 AM
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#3
  1. Guyfawkes1010
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  1. Guyfawkes1010
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Originally Posted By semenreleaser⏩
I max out my 401k through my employer.
I max out my HSA. Anything over my max out of pocket expenses gets invested. I save all my medical receipts in case I need to withdrawal from my HSA on a rainy day.
I have an individual IRA with about 50k in it, but I haven't been able to max it out the past few years due to inflation.

I have about 450k between my HSA/401k/IRA.

I don't know the exact percentages, but I make 130k, and between taxes and retirement, I take home slightly less than half of my paycheck.
Myron srs.

I dont even have an HSA. I thought it didnt roll over and gets wiped out at the end of the year? Or is that the other one?

I couldnt max my 401k even if I wanted to but would love to be able to.

I want to retire early so im only going up to my employer match on my 401k and maxing out my Roth IRA. I also have a dividends investment account that I put into what I can each paycheck. Im hoping that plus the roth will carry me from around 50-55, to 65 when I will tap into the 401k, pension, and SS (if it exists lol).
post 1676849353 02-09-2023, 08:58 AM
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#4
  1. Guyfawkes1010
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  1. Guyfawkes1010
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This is why all of you are broke. Dissapoint.
post 1676849963 02-09-2023, 09:11 AM
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#5
  1. desslok
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All this Op guy does is just reword old threads. Wtf
2 time survivor of The Great Misc Outages of 2022

Survivor of PHP/API Outage of Feb 2023
post 1676850083 02-09-2023, 09:15 AM
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#6
  1. Guyfawkes1010
  2. Remember the 5th of Nov
  1. Guyfawkes1010
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Originally Posted By desslok⏩
All this Op guy does is just reword old threads. Wtf
Awaier
post 1676850153 02-09-2023, 09:17 AM
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#7
  1. saltypits
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Good chance of retiring at 55.

Started saving money when I got my first real job. $36K/yr no less.

Start young, save money.

At my age now it's pointless for me to save for retirement. It makes no appreciable difference to the future value.
post 1676850313 02-09-2023, 09:19 AM
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#8
  1. Guyfawkes1010
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  1. Guyfawkes1010
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Originally Posted By saltypits⏩
Good chance of retiring at 55.

Started saving money when I got my first real job. $36K/yr no less.

Start young, save money.

At my age now it's pointless for me to save for retirement. It makes no appreciable difference to the future value.
Its crazy how someone who starts saving at 20, then quits at 30, will have enough to retire at 65. Assuming they save any decent amount. Vs starting saving at 40-65 and putting more in will still be short of the first scenario.

I know SO MANY people who didnt start saving until 40 or even older.
post 1676850403 02-09-2023, 09:21 AM
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#9
  1. hendrixfreak70
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Strong username to thread title.
post 1676850463 02-09-2023, 09:22 AM
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#10
  1. saltypits
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Originally Posted By Guyfawkes1010⏩
Its crazy how someone who starts saving at 20, then quits at 30, will have enough to retire at 65. Assuming they save any decent amount. Vs starting saving at 40-65 and putting more in will still be short of the first scenario.

I know SO MANY people who didnt start saving until 40 or even older.
Yeah I started at 24 and stopped around 40. My $500/mth at that point was a drop in the bucket.
post 1676850733 02-09-2023, 09:28 AM
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#11
  1. Guyfawkes1010
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  1. Guyfawkes1010
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Originally Posted By saltypits⏩
Yeah I started at 24 and stopped around 40. My $500/mth at that point was a drop in the bucket.
Im not yet at the point where its a drop in the bucket, but hope to be in about 5-10 years. Its close to that point where it starts to really get big on its own.
post 1676850983 02-09-2023, 09:32 AM
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#12
  1. saltypits
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Originally Posted By Guyfawkes1010⏩
Im not yet at the point where its a drop in the bucket, but hope to be in about 5-10 years. Its close to that point where it starts to really get big on its own.
Yup, it will. Sure is strange to see my account go up $60-70K per year now without me doing jack sht.
post 1676851493 02-09-2023, 09:40 AM
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#13
  1. saltypits
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I like how there's like three miscers in this thread.
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