this post was submitted on 06 Oct 2023
647 points (93.4% liked)

World News

38979 readers
2862 users here now

A community for discussing events around the World

Rules:

Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News !news@lemmy.world

Politics !politics@lemmy.world

World Politics !globalpolitics@lemmy.world


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 1 year ago
MODERATORS
 

Of all generational cohorts, older millennials are most likely to generate enough income to retire comfortably, according to the latest Vanguard Retirement Readiness report.

Specifically, millennials aged 37-41 have the greatest chance of landing a comfortable retirement.

you are viewing a single comment's thread
view the rest of the comments
[–] drphungky@lemmy.world 4 points 1 year ago

You're getting at my favorite article of all time, The Shockingly Simple Math of Early Retirement. Say what you will about Mr. Money Mustache or even early retirement in general, but this article really is the absolute simplest and best way to think about retirement savings. It's why I often feel poor or pressed for money but never worry about retirement, because I max it all and pay myself first, and I know as long as my percentage is high I'm on track.

Plus even before I could max my 401k and Roth (and we recently had a kiddo so had to stop Roth for a bit) or get a high savings rate, I put in way more than was comfortable because the power of compounding is worth rice and beans and not going out drinking for a bit. Now that I'm middle aged my nest egg is huge, and we've been slowly able to lifestyle inflate. But I am soooo glad my younger self saved like crazy. Time flies by, and money compounds before you know it.