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(Time)   How much money you should have saved by ages 15, 25, 35, and 50. In this economy, though?   ( divider line
    More: PSA, Oregon Trail  
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26450 clicks; posted to Main » on 01 Oct 2012 at 3:01 AM (4 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»

256 Comments     (+0 »)
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2012-10-02 12:30:48 PM  

Ambivalence: This demonstrates everything that is wrong with rhetorical economists (especially Randians). less than 10% of the population makes "$100,000 after taxes". And far far more than half do not make enough that they can afford to sock away half for retirement.

Its quite easy to save half. You simply don't spend half your money.
Maybe it means you dont go out and buy the new iPad4, etc, or move to a smaller place.
It depends on what you want more, living comfortably **now**, or when you are a dottering old fark.
2012-10-02 12:51:05 PM  
Live with mom and dad or rent a room. Take all your after tax income until you are 30 and invest it .
Then, never save another dime.

You can then buy what you want for the rest of your life, while all your money compounds itself and you can retire with a wad of cash.

Sure, it sucks. but at 30 you are still on the market and not old and busted yet.
and you will be much more attractive to all the ladies than the dudes that took two cruises a year and partied hard.
2012-10-02 12:54:52 PM  

ExperianScaresCthulhu: unlikely: TFA: Saving 100% of your lifestyle sounds impossible, but it is not. If you earn $100,000

and we're done here.


You realize, of course, that you missed the point.

Don't get all bitter at the number the author used. It doesn't matter if he used 10,000 or 500,000. The point is to save half of your money. Its not like you are paying any federal taxes anyway. So set aside some money, as if you were contributing, and save that money up.
2012-10-02 01:13:15 PM  

blipponaut: Yah, let's not enjoy life and save money instead! Fark living with roommates, I need my space. I may not be saving OODLES of money, but at least I enjoy myself. As far as retiring early, why? As a teacher I get every summer off and by the time it's over I'm happy to go back to work. Work centers you more than anything else, especially if you actually enjoy doing it. Yes, for the most part I enjoy work. It sucks sometimes, but everything sucks sometimes.

Grasshopper? Why you no save?
2012-10-02 01:32:34 PM  

Smelly Pirate Hooker: Don't worry, you guys. Saving for retirement is totally easy, just follow my 7-step plan:

1) Get somebody else to pay for you to go to college so you don't have to take out any loans
2) Get a really great, high-paying job when you get out of college
3) Don't become involved in anything that results in legal proceedings, like divorce
4) Don't buy a house
5) Don't have kids
6) Don't ever lose your job
7) Don't develop any health problems that cost lots of money to treat

See? Easy.

1.Study and hit the books, get a scholarship because of your diligence.
1a. Get a degree that is marketable, not something like art or history. There is nothing wrong with those fields, but don't expect to make big money. This results in.....
2. Get well paying job. Save up money until you are 30.
3. If you get married, don't be a douche and you are less likely to be divorced. Even if you do, your evil spouse can not touch your money from number 2.
4. Buy a house if you want. But I'd wait for the kids.
5. Kids, they are ok, Easier to pay for since you waiting to sprout your fruit.
6. Losing your job only is hard if you did not do 1a. If you company randomly goes out of business and you have a marketable skill, it is no problem to find another job.
7. Bad Poo happens. Not much one can do about it. Since you saved up (#2), your house is paid off and your kids have enough to go to college. No worries.

Or..... cry about how something unexpected isn't your fault and someone else needs to help you out.
2012-10-02 01:40:56 PM  

The Southern Dandy: Save 43.2% of my annual income. Riiiiiiiiiight!

Is this a joke, or a troll or something?

They are saying if you dont frkking save and you are that old, then you will need to save that percentage until you retire. So better to start when you are young. As you can see, going on two cruises a year until you are 40
will make for a very uncomfortable second half of life.
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