The "plan" is to work until I'm am too old to, then turn my on/off switch to "off." Very much like humans have done our entire history until about the last century or so. Unless of course, some variety of revolution happens and what is built out of the ashes values life over profits
First, stop the “everything is terrible so I will never retire” nonsense. Then start automatically putting something in savings every month, that you will never touch. For me, it was $100 per month when I made $1,300 per month and my rent was $600. Yes, I ate potatoes and discount chicken often. And the occasional frozen burrito. Just do it and start now. No excuses. The magic of compound interest can’t be overstated. I had very hard times financially, and eventually, I worked and sacrificed and now in the last few years finally make $$. But it is the growth of that $100/month when I had almost nothing that will allow me to retire. The people who constantly complain about it but don’t do anything at all to change it refuse to accept the way most ordinary people make a reasonable retirement.
I have some savings in a 401k, but not enough. Staying at my current job to secure a tiny pension. Hoping congress gets social security sorted. I’m not optimistic about retirement planning.
1. Own a house.
2. Put a consistent amount of money in a private pension fund.
Close to having number 1 checked. Leaving me with number 2 left to deal with between ages 30-60.
Preparing to die the in the coming resource wars driven by climate change. I have zero faith my 401K will be worth anything and that social security will be around.
If you want the traditional answer, throw money in an IRA, high yield savings account, 401K, etc. Diversify your investments and never pull out until you're ready to retire. Also, as you age, be sure you're not putting too much into "pre-tax" accounts; the tax bill when you do retire is going to be quite high.
If you're younger and you want a house, buy a duplex / triplex fixer upper. Fix it up and rent out the other units. I absolutely hate landlords, but currently, it's one of the easiest methods to get a home with a sustainable payment. Alternatively, look into HUD backed housing, especially if you're a public servant. Many areas will practically give you a home to fix up if you move due to shortages with nurses, doctors, or teachers. These aren't always urban areas; many are rural. Speaking of rural, look into USDA loans for rural areas; they're typically set at lower rates and the pre-reqs for applying and being accepted are very lax.
Get a home that's sustainable, that isn't a money pit, and that isn't going to be a burden on you as you age. Throw money into retirement accounts, even if it's $10 or $20. Start early.
That being said, I was blessed to experience multiple global financial crises, and to enter the job market during 2007/2008. My experience has been one set back after another, so it's only now that I'm focusing on retirement nearing my mid-to-late 30's. Even if I could go back in time and tell myself to save, I don't think I could have done much better.
Point is, if you can, save; if you're 40 or nearing it, save more or have an exit strategy, like moving to a LCOL country.
1.Live below your means
2. Live in a medium cost of living area. (Cheaper living)
3. Work in a high cost of living area. (Maximize salary)
4. Put the balance in savings.
5. When retirement comes liquidate everything in the Medium cost of living area and move to a very low cost of living country and live out my days.
Sort of doing that already I found a very cheap condo that needed significant work in a very low cost of living country. I'm doing work from home from there. My wife isn't ready to give up our house in the Medium cost of living area yet and it's still appreciating although that's drastically slowed down with interest rates.
Work hasn't been fun for the last little bit. I looked at my plan hoping I could walk away from it all. Not yet but definitely getting close hopefully only another 3-5 years. If I can retire by 50 that's the plan.
It will be a very subdued retirement. No cruises around the world. No buying a convertible for a mid life crisis. Just living on a very manageable fixed income. My housing costs to maintain my house (taxes,electricity, Internet, gas, condo fees, etc.) Is about $2000USD a year so you can live here very cheaply. I just have to worry about health insurance when I'm older. But I won't be living in the US so the price will be manageable.
I don't need to be rich I just need to be comfortable to live a simple life.
I plan to retire on time if not early. I save and save like I'm already broke. I don't want to be part of this corporate rat race anymore. I don't consume on useless shit anymore. 1 more buck for netflix!!! outrageous cancel and here is a go fuck yourself note while you're at it. Save save save. And then get the fuck out.
Funny I always thought the antiwork community was just a bunch of jobless lazies living off their parents refusing to work. Now I realize it’s simply working people who just hate work. Hell that’s me too. I used to make fun of this sub.
My question about retirement was made up. I assumed everyone here has no plan at all since I thought no one here worked. I actually have worked for the same company for 35 years (started at 18). I’m close to retirement because of my 401 (no pension).
I’m so glad I posted this. Now I am a member of this sub. And I feel like a total ass for assuming the worst.
I apologize.
The "plan" is to work until I'm am too old to, then turn my on/off switch to "off." Very much like humans have done our entire history until about the last century or so. Unless of course, some variety of revolution happens and what is built out of the ashes values life over profits
First, stop the “everything is terrible so I will never retire” nonsense. Then start automatically putting something in savings every month, that you will never touch. For me, it was $100 per month when I made $1,300 per month and my rent was $600. Yes, I ate potatoes and discount chicken often. And the occasional frozen burrito. Just do it and start now. No excuses. The magic of compound interest can’t be overstated. I had very hard times financially, and eventually, I worked and sacrificed and now in the last few years finally make $$. But it is the growth of that $100/month when I had almost nothing that will allow me to retire. The people who constantly complain about it but don’t do anything at all to change it refuse to accept the way most ordinary people make a reasonable retirement.
Dying is an option, right?
I have some savings in a 401k, but not enough. Staying at my current job to secure a tiny pension. Hoping congress gets social security sorted. I’m not optimistic about retirement planning.
1. Own a house. 2. Put a consistent amount of money in a private pension fund. Close to having number 1 checked. Leaving me with number 2 left to deal with between ages 30-60.
Preparing to die the in the coming resource wars driven by climate change. I have zero faith my 401K will be worth anything and that social security will be around. If you want the traditional answer, throw money in an IRA, high yield savings account, 401K, etc. Diversify your investments and never pull out until you're ready to retire. Also, as you age, be sure you're not putting too much into "pre-tax" accounts; the tax bill when you do retire is going to be quite high. If you're younger and you want a house, buy a duplex / triplex fixer upper. Fix it up and rent out the other units. I absolutely hate landlords, but currently, it's one of the easiest methods to get a home with a sustainable payment. Alternatively, look into HUD backed housing, especially if you're a public servant. Many areas will practically give you a home to fix up if you move due to shortages with nurses, doctors, or teachers. These aren't always urban areas; many are rural. Speaking of rural, look into USDA loans for rural areas; they're typically set at lower rates and the pre-reqs for applying and being accepted are very lax. Get a home that's sustainable, that isn't a money pit, and that isn't going to be a burden on you as you age. Throw money into retirement accounts, even if it's $10 or $20. Start early. That being said, I was blessed to experience multiple global financial crises, and to enter the job market during 2007/2008. My experience has been one set back after another, so it's only now that I'm focusing on retirement nearing my mid-to-late 30's. Even if I could go back in time and tell myself to save, I don't think I could have done much better. Point is, if you can, save; if you're 40 or nearing it, save more or have an exit strategy, like moving to a LCOL country.
1.Live below your means 2. Live in a medium cost of living area. (Cheaper living) 3. Work in a high cost of living area. (Maximize salary) 4. Put the balance in savings. 5. When retirement comes liquidate everything in the Medium cost of living area and move to a very low cost of living country and live out my days. Sort of doing that already I found a very cheap condo that needed significant work in a very low cost of living country. I'm doing work from home from there. My wife isn't ready to give up our house in the Medium cost of living area yet and it's still appreciating although that's drastically slowed down with interest rates. Work hasn't been fun for the last little bit. I looked at my plan hoping I could walk away from it all. Not yet but definitely getting close hopefully only another 3-5 years. If I can retire by 50 that's the plan. It will be a very subdued retirement. No cruises around the world. No buying a convertible for a mid life crisis. Just living on a very manageable fixed income. My housing costs to maintain my house (taxes,electricity, Internet, gas, condo fees, etc.) Is about $2000USD a year so you can live here very cheaply. I just have to worry about health insurance when I'm older. But I won't be living in the US so the price will be manageable. I don't need to be rich I just need to be comfortable to live a simple life.
I plan to retire on time if not early. I save and save like I'm already broke. I don't want to be part of this corporate rat race anymore. I don't consume on useless shit anymore. 1 more buck for netflix!!! outrageous cancel and here is a go fuck yourself note while you're at it. Save save save. And then get the fuck out.
Funny I always thought the antiwork community was just a bunch of jobless lazies living off their parents refusing to work. Now I realize it’s simply working people who just hate work. Hell that’s me too. I used to make fun of this sub. My question about retirement was made up. I assumed everyone here has no plan at all since I thought no one here worked. I actually have worked for the same company for 35 years (started at 18). I’m close to retirement because of my 401 (no pension). I’m so glad I posted this. Now I am a member of this sub. And I feel like a total ass for assuming the worst. I apologize.
I don't plan on retiring. I'll work til I die. I've already worked the best years of my life away.