Lol 10-15% of our income? I’m sorry… But who can afford that? We’re getting so fucked right now by greed in this country…
My power bill was $500 last month for a two bedroom apartment. This is because I live in a city with the highest energy rates in the nation, all because the company and our local governments are absolutely lousy with corruption. They have posted obscene record profits for the last half a decade while everyone in the city suffers.
My rent was also 21% higher this year than it was in 2020. My landlord bought this place a decade ago at a bankruptsy auction, but like, fuck me right? Gatta keep those rates up when the rest of the city goes up.
I also haven’t saved money since around 2019, since I went four years with a 0% raise due to the company I work for struggling. We were bought out by another company with tons of money, but they decided we were overpaid, since they live in a cheaper city.
My story is not unique. My story is not special. I hear a similar one from people every week. Retirement is a luxury most post-boomers will never experience, no matter how hard we work.
So you’re supposed to do 50-30-20 Meaning 50% on needs 30% on wants 20% investing
You might be thinking “Ericbomb, how does one keep their needs below 50%, when the median rent in the US is $2,000, and median household income after taxes/withholdings is near 40k?”
Wonderful question!
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Australia has a Superannuation Guarantee. It’s currently at 11% and will go to 12%. Employers get fined if they don’t pay it to their workers.
Conservatives in Canada are trying to cut it. Conservatives in the USA are attacking social security. Conservatives are vultures. Never vote for conservatives.
Conservatives here are the worst at picking and choosing. They’ll happily borrow America’s racism, anti-socialism, hypercapitalism, nationalism, mysoginy, gun culture and mass surveillance… but holy crap do they make noise when you put a pumpkin on your front lawn in October.
What’s wrong with pumpkins? As an atheist who enjoys festivities and decorations, pumpkins are my go-to this time of year. I get pretty ones from the produce section and cook them at the holiday they were being decorations for. It’s fun and it works for Halloween, thanksgiving and solstice.
I’ve never owned a gun in my life. The day I go to buy one is the day I start planning for my “retirement.”
I’m still doing the 401k thing and trying to save on the side, but just like homeownership, retirement is for “other people,” not me :/
I work in heavy industry. One day I am going to get back medical tests results that I don’t like. The next week there is going to be an accident at a job site and my family gets a few million.
Unless of course the insurance company uses GPT-9 to read your entire post history online and finds this comment.
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If you have perfect knowledge of the future and know which stocks will do well, why bother with trying to diversify your portfolio to try to mirror the market?
So, as it turns out there are a few big reasons.
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it’s a cosmic felony
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causing improbable events creates a new timeline which increases entropy in all probable realities, which can have some drastic (and usually negative) effects.
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most time travel agencies (which is what most people can afford) use technology that doesn’t actually allow for free will, that’s why it’s mostly sold for vacations.
- you can alter/push some decisions, but for most people it’s not gonna be successful stocks.
- older technology was advanced calculation in a realistic simulation. Most people just wanted an old memory or to get closure. Some people just try a different meal or movie choice, the experience is all that matters.
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time mercenaries. We’re actually not sure who these guys are, but we also don’t wanna know either. Some say they’re who cause spontaneous combustion and embarrassing deaths.
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most forms of actual time travel leave the user stranded, with chronic or terminal illness (and sometimes amnesia), and in some cases fading/poofing out of existence when certain thresholds are crossed.
- On top of that, new timelines of you typically aren’t experienced by you. It’s a different you. So that was nice of you.
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time spiders. You don’t want to know.
time spiders. You don’t want to know.
They’re really more crab-like than spider-like. If you bring a net back home from vacation, you can snag a few. They’re delicious steamed with butter.
Don’t eat too many; their chroniton level is through the roof.
Very informative, thanks
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Who knows if you really want to have much much wealth in the future.
Maybe he would have made the deal of his life the next week if his future me wouldn’t have intervened; but 30 years later everybody that ever had more than a million gets killed by the revolutionary movement that swapped across the world after society almost collapsed due to greed.
But he managed to reach a time machine, and now he calculated that if he saves a maximum of 15% he will only ever reach 975000 bucks and therefore survive the revolution
this thread calls out to all the real adults on Lemmy lol. actually learning so much.
He should have come back with winning lottery ticket numbers and sports outcomes
That happened in the previous loop. This time-traveller ruined his life with hookers and blow, so instead of giving his younger self quick riches, he gave solid financial advice instead.
You’ll be able to get one game, maybe a few in different sports, in the same day if you’re lucky. Outcomes will become different soon though…
Yeah, future him is a fucking moron.
What exactly is 401k?
As a Warhammer fan, I’m telling you it is wild.
It’s even further than 40k when the T’AU empire have saved the world obviously
blasphemy, though the mechs are cool.
when the T’AU empire have
savedbrainwashed and enslaved the world obviouslyFTFY
Says the guy certainly working for a dead emperor hmmm
Well, Imotekh is indeed technically dead, but another kind of dead… more like… undead?
A 401K is a USA tax deferred investment account intended for use after age 59.5.
It’s name comes from the section of the tax code that discusses it.
If you come from the future and the best investment vehicle you can think of is a 401k, you don’t deserve to be a time traveler.
If you can alter the future it might make sense. Say I tell you to invest in whatever comes after NPTs. Maybe your investment will alter the course of what happened. However I seriously doubt that 10% of your income in an index fund will alter much. Also, there is a problem with getting money too early. You go back and give young you lottery numbers, they make bank and die of an O.D. a decade later.
Maybe there’s a framework of rules that the time traveler must adhere to (or risk being disintegrated by the time police).
For example, specific knowledge of the future is off-limits, but it’s OK to give basic advice as long as it’s already general knowledge for the time period you’re traveling to. Make sound investments, eat right, exercise, don’t smoke, etc.
What company let’s you put a full 15% into a 401k? I mean… sign me up.
Generally you can put in as much as you want but they only provide matching for some percentage. Usually like 1-5%. There is a total contribution limit but that won’t affect most people.
just invest that 15% in stocks that pay dividends instead
Great, which stocks specifically (that will make more money than just putting the money into an index fund that tracks the S&P500)?
specifically ones that pay dividends. funds don’t usually pay dividends to investors
No, no.
Which specific stocks. Name company names.
it seems like you know the ones
