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401k's and IRA's aren't 100% foolproof and inflation creeps up alot faster than interest. I'm 29 and I'm going to start putting some money into a retirement account when I start my new job next week. After three years, they fully match up to 5%. First three, its only 80% so I'm not going to put more than 1% now.
I prefer real estate. Yes, I know, not safe either but I plan things 3-5 years. I don't / can't plan my life further down the road than that.
Example, I went to Europe in 2012. I thought for sure I was done traveling for at least two years. Situation changed last year, I was able to travel for three months, went back to Europe and then went to Asia.
401k's and IRA's aren't 100% foolproof and inflation creeps up alot faster than interest. I'm 29 and I'm going to start putting some money into a retirement account when I start my new job next week. After three years, they fully match up to 5%. First three, its only 80% so I'm not going to put more than 1% now.
I prefer real estate. Yes, I know, not safe either but I plan things 3-5 years. I don't / can't plan my life further down the road than that.
Example, I went to Europe in 2012. I thought for sure I was done traveling for at least two years. Situation changed last year, I was able to travel for three months, went back to Europe and then went to Asia.
An immediate return on your money of 80% isn't enough for you to max out the match? Seems short sighted
Yes really. You are going to give up a free 80 cents on every dollar because it's not 100 cents on the dollar? Very short sighted. If the company has allocated compensation to you, you should take it even more so than just make an excuse of the match not being enough to contribute 5%
It would be interesting to see what proportion of these non-savers even own their home or even have a mortgage.
Only one-third of Americans rent, and I'd bet that there is a huge overlap between renting and not saving.
You could label it rent. I could rent a smaller house without a pool or apartment and pay less for said expense and then save even more but choose not to
An immediate return on your money of 80% isn't enough for you to max out the match? Seems short sighted
Yes, I think it's nuts to NOT max out a matched 401(k) contribution. As a non-saver I can say this because employers that don't pay sufficient wages for workers to save are NOT the ones who offer a 401(k) match.
You could label it rent. I could rent a smaller house without a pool or apartment and pay less for said expense and then save even more but choose not to
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Renters typically have major income constraints; that's why they are renting and not owning. Median renter income is HALF median homeowner income.
41 percent of renters are in the bottom income quintile, according to Mortgage News Daily. They simply don't have the discretionary income to save and invest.
Renters generally are not voluntarily blowing their budgets on extravagant rentals. I'm paying $500 a month to rent a room in a house with four others; that's less than many homeowners' mortgage payments.
My wife and I have no debt so we save all we can to retire early, we want to move to an area where working isn't an option with jobs there being very hard to come by.
My wife and I have no debt so we save all we can to retire early, we want to move to an area where working isn't an option with jobs there being very hard to come by.
I've heard Portland is where young people go to retire.
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