Talking stocks, trading, and investing in general

[jbarwick]

Link to bitching por favor?

https://www.marketwatch.com/story/t...y-coped-with-fire-plans-gone-wrong-2018-11-29

 

[Piobaire]

Thanks...read that one already for some reason.

 

[jcman311]

I want to bash my head against a wall after reading that.

But to each their own.

 

[brokencycle]

I want to bash my head against a wall after reading that.

But to each their own.

These people are "retiring" at 30 with less savings than recommended for someone retiring at 65. Things don't go well; everyone is shocked.

 

[Piobaire]

Well, you have to figure this trend will follow the 80/20 with 80 being the failures.

 

[jcman311]

Not to mention the mental issues that "suddenly" appear. More like exacerbated by the fact that a $1,000 swing could ruin you (and your family in some cases). Anxiety and depression sound great in retirement. The best years of your life.

But have "fun" in retirement at 27.

 

[Piobaire]

Will say that Etsy girl, with nearly 200k in various accounts at 27, was in a way better position than I was at that age. I mean, I was just starting undergrad and penniless. She can definitely save and earn.

 

[venividivicibj]

Will say that Etsy girl, with nearly 200k in various accounts at 27, was in a way better position than I was at that age.

Yeah, not gonna lie. This is pretty impressive.

 

[ThinkDerm]

As I've mentioned SORR more than once why would I need to run firecalcs to understand this?

As to tax advantaged funds...when you've got approximately 107k you can fund in 2019 at least a minor focus is warranted I'd say.

how can you fund 107k? please explain. thank you

 

[Piobaire]

how can you fund 107k? please explain. thank you

457 x 2
HSA x 2
401(3) x 2

50 or older.

50k + 7k + 50k = 107k for 2019.

 

[RedLantern]

We havent taken advantage of my wifes non-qualfiied plan because it freaks me out that those assets are still subject to potential creditors claims in bankruptcy. Considering we are still 30+ years from retirement, seems a big gamble that her company never go bankrupt in that period. Am I mis-analyzing this, or are you just more comfortable with your employer's prospects at long-term stability?

 

[Piobaire]

We havent taken advantage of my wifes non-qualfiied plan because it freaks me out that those assets are still subject to potential creditors claims in bankruptcy. Considering we are still 30+ years from retirement, seems a big gamble that her company never go bankrupt in that period. Am I mis-analyzing this, or are you just more comfortable with your employer's prospects at long-term stability?

Hers is a government 457b so it's not at risk, and as I'm the CEO of my company, I trust the guy running the show not to screw me.

 

[venividivicibj]

Hers is a government 457b so it's not at risk, and as I'm the CEO of my company, I trust the guy running the show not to screw me.

Theres some kind of @HRoi joke in here, just dont see it yet

 

[jbarwick]

But she thought she was getting a pension at 27....da faq?

 

[UnFacconable]

As I've mentioned SORR more than once why would I need to run firecalcs to understand this?

Based on your misinterpretation of my statements, I thought it would be helpful to clarify my point. Since you are familiar with historical returns, you must understand the long-term benefit of making contributions during a bear market.

As to tax advantaged funds...when you've got approximately 107k you can fund in 2019 at least a minor focus is warranted I'd say.

To each their own. I believe 1% is $10MM net worth and above in this country and I don't think most people in that class (typically limited to $18k or $36k of annual contributions) are sweating short-term swings in their 401(k)s. Perhaps you are a rare breed given your ability to contribute larger amounts and your focus on short-term swings.