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How are you planning for retirement at this point in life?

Helico-pterFunk

Helico-pterFunk

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BGOL Legend
wordinblack.com

Investing 101: Making Your Money Grow

Black Women Invest was designed to help Black women become strong investors and achieve financial freedom.
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Securing Your Financial Future: The Importance of Saving for Retirement

40% of U.S. households risk running short on cash in retirement — and the risk is heightened for Black and brown people.
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Smart Techniques to Teach Your Child About Managing Their Money

Financial literacy is an essential skill that lays the groundwork for future financial well-being and success.
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Ask a Lawyer: What to Do Before and After Confronting Bankruptcy

Attorney Ebele Ebonwu shares how to avoid financial ruin and manage seemingly insurmountable debt.
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Helico-pterFunk

Helico-pterFunk

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lifehacker.com

Where You Should (and Shouldn’t) Keep Your Emergency Fund

Having a cash emergency fund is crucial, but where's the best place to keep it? Here are the pros and cons of savings accounts, money markets, CDs and more to earn interest while keeping your money safe and liquid.
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lifehacker.com

Create the Ultimate Spreadsheet for Your Taxes Now so You’re Ready for Next Year

Get ahead of next year's tax season now by creating and using a spreadsheet to track tax-related information throughout the year. A little organization can go a long way and prevent headaches come 2025.
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Helico-pterFunk

Helico-pterFunk

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lifehacker.com

How to Choose Between Target-Date Funds and Index Funds

If you're saving for retirement through a 401(k), 403(b) or individual retirement account, you've likely come across both target-date funds and index funds as investment options. While both aim to grow your nest egg over the long term, they go about it quite differently. Here are the pros and...
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lifehacker.com

How to Start a 'Backdoor' Roth IRA (and When You Should)

If your income exceeds the limits for contributing directly to a Roth IRA, there's still a way to fund one through a strategy known as the backdoor Roth IRA. Here's how to set one up.
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lifehacker.com

Why You Should Open a 401(k) at a Short-Term Job

You should always consider contributing to a 401(k) at a job, even if you know your tenure at that job is going to be brief.
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Helico-pterFunk

Helico-pterFunk

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lifehacker.com

You Can Invest Sustainably and Still Make Money

Sustainable investing, also known as socially responsible investing or ESG investing, has become increasingly accessible in recent years. It involves investing in companies and funds that have positive environmental, social and governance (ESG) practices. If you're interested in putting your...
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lifehacker.com

You Can (Probably) Still Make a Killing on I Bonds

Miss out on the previous high interest rates? You might be in luck—here's when to buy Series I savings bonds.
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lifehacker.com

The Most Common Myths That Keep People From Investing

You don't have to already be rich to start building wealth now.
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COINTELPRO

COINTELPRO

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I am about to go into forced early retirement, dunked on some fool that instead of falling to the ground like a bit, he grabbed onto me. Next thing you know, I am carrying the weight of two people. Tore up my neck/shoulder caused all kinds of problems.

It works out for me, but I hate the U.S., the same fool holding onto me to keep from falling to the ground, now it is leeching ass fools in the government and private sector.
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The first thing to do is take all your expenses and income to determine what you have as a surplus each month. If you are living paycheck to paycheck, renting, a 401k is a pipe dream for you. Any bouts of unemployment will wipe your savings away, our UI system is not enough and will quickly drain you off.

These employers know what your expenses are and will pay you barely enough to meet those expenses.

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What you need is a robust Social Security system, not some clown 401k or stock investing. You see this stat for the South, only 30% of you will be able to invest for retirement. Maybe some of these people have a 401k pretax they are doing but I doubt it. If you are having 6% pretax taken out with 100% match, that leaves you living paycheck to paycheck, you are more likely to early withdrawal take out loans.

Plus you have to factor in student loans, the U.S. is a retarded piece of shit country that is chasing me around with black filth internationally.

Real estate inflation has skyrocketed due to the Federal Reserve, which is good for some people that bought a house 10-20 years ago, but just entering the market and you will be paying a big chunk of your paycheck for housing.

Don't let them come at you with that 401k hustle scam to sell you some pipe dream.



I did not even recognize her with this new look, she is about to get 40 years in the bing.
 
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COINTELPRO

COINTELPRO

Transnational Member
Registered
$50,000 income with 6% contribution plus 100% match gives you $6,000 yearly retirement contribution. That leaves you with $47,000 of income take home pay of $3,312. Your expenses come up to $2,900 a month leaving you only $400. You save all of this money for three years, $15,000, than become unemployed for a year, that is $35,000 of expenses that you to cover with savings wipe your shit out quick. You living in a state only paying $300 a week of UI.

Worse yet, you can be the 70% of Americans living paycheck to paycheck where you don't even have a savings. In this example, you are clearing out your 401k quick even with your 100% match just to cover your $3,300 monthly living expenses

Expenses:
$1,500
$600
$300
$400 Student Loan
$400 Food

Do you get the picture? Many people have to early withdrawal their 401k until they can find another job.
 
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COINTELPRO

COINTELPRO

Transnational Member
Registered
COINTELPRO said:
$50,000 income with 6% contribution plus 100% match gives you $6,000 yearly retirement contribution. That leaves you with $47,000 of income take home pay of $3,312. Your expenses come up to $2,900 a month leaving you only $400. You save all of this money for three years, $15,000, than become unemployed for a year, that is $35,000 of expenses that you to cover with savings wipe your shit out quick. You living in a state only paying $300 a week of UI.

Worse yet, you can be the 70% of Americans living paycheck to paycheck where you don't even have a savings. In this example, you are clearing out your 401k quick even with your 100% match just to cover your $3,300 monthly living expenses

Expenses:
$1,500
$600
$300
$400 Student Loan
$400 Food

Do you get the picture? Many people have to early withdrawal their 401k until they can find another job.
Click to expand...


I call it UI risk, and which affects us more with frequency and duration due to our higher unemployment rate. Unfortunately due to the pension debacle in the steel industry when those companies folded, I don't see those as a viable option to retirement. We need a robust social security system funded by the billionaires.

Anybody talking that 401k scam crap needs to get their head checked.
 
COINTELPRO

COINTELPRO

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Helico-pterFunk said:
www.vox.com

How do I stop living paycheck to paycheck?

Plus, lessons worth learning about financial literacy.
www.vox.com www.vox.com
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Is_A_401k_A_Scam_1000x1500.png


FICA - 7.65%
FICA Employer Match 7.65%
401k Contribution 6%
401k Employer Match 6%

You are looking at over 15% of your paycheck going to retirement plus your employer is kicking in another 15% for over 30%. With UI benefits so low like $200 in many states, you are funding your unemployment through your 401k while you try to find a job.

UI benefits are a huge component of your retirement savings, any long term unemployment and you are wiped out from 4-5 years of savings. I have found that unemployment is longer for a person, if they are educated more versus taking low skilled jobs that hire quickly on the spot in many cases.

2-States-for-Unemployment-Overall-Rank-Chart.png


Unemployment risk is real, I have spent a year out of work a number of times which can zap $30,000 plus out of your retirement easy. Wtih 70% of the people in the South living paycheck to paycheck, there is no hope for an emergency fund or 401k, that person is going to entirely rely on Social Security. The other 30% is facing unemployment risk that will quickly wipe them out.

Instead of gay stalking me up the block or internationally, I have pointed out some real issues you need to deal with. This is the retarded nonsense that you will pass on to the next generation. It also establishes a baseline for your feeble minded behavior.
 
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COINTELPRO

COINTELPRO

Transnational Member
Registered
I watched some video on Youtube blaming people living paycheck to paycheck due to use of Doordash to counter my points on here. If they are not scamming you with a 401k which is really your unemployment benefits you are funding. They are manipulating the feeble minded in other ways.

This is why the feeble minded are dangerous and don't want them around me at all. Right now they are clutching on me hard, getting desperate, I have to move. They need to be chasing these politicians around in cars bothering them so I can slip out of the country.



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easy_b

easy_b

Easy_b is in the place to be.
BGOL Investor
You can plan a nice picnic, but you cannot predict the weather at this point. I am around 50 years old. I do have a nice size 401(k), but I haven’t been working for a year but also I’ve been playing in the stock market and keeping myself afloat if you will. You never know what changes are going to happen in the local government or the world government that will impact your savings and 401(k). When corporations got rid of pensions (especially for the middle class and lower class) that really put a lot of people in a precarious situation. If the Republicans have their way, they are going to fuck up Social Security. This is why you need to vote for Democrats in November.
 
Helico-pterFunk

Helico-pterFunk

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HotNixon36 said:
expatsi.com

10 Countries Where You Can Retire With $2,000/Month

Are you looking forward to retirement? Do you imagine peaceful days spent socializing with family and friends, pursuing hobbies, and catching up on things you put off during a long career with limited time off? While we all long for those days, you may look at your bank account and bills and...
expatsi.com expatsi.com
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One of my dad's friends moved to the Philippines a few years back in his early-70s. Single dad. His 2 kids are in their 40s and out to lunch. He was tired of half a year of iffy weather back home in Vancouver and said fuck it. He's happy with his simple life - plenty of cold beer, his bicycle and scooter, an 80" tv or so and a girlfriend who is pretty chill. Does a shit ton of walking and loves the hot weather.

A coworker's mom also spends half the year there (November - May). Their family's originally from the Phils and she still owns a home there. Fortunately she still has her health, and is 86yo. Her kids are all in their 50s and she (mom) never married. She prefers getting away from the rain and snow, and also reconnecting with family there. My friend and his sister will inherit the home when she eventually passes.
 
HotNixon36

HotNixon36

Rising Star
BGOL Investor
Helico-pterFunk said:
One of my dad's friends moved to the Philippines a few years back in his early-70s. Single dad. His 2 kids are in their 40s and out to lunch. He was tired of half a year of iffy weather back home in Vancouver and said fuck it. He's happy with his simple life - plenty of cold beer, his bicycle and scooter, an 80" tv or so and a girlfriend who is pretty chill. Does a shit ton of walking and loves the hot weather.

A coworker's mom also spends half the year there (November - May). Their family's originally from the Phils and she still owns a home there. Fortunately she still has her health, and is 86yo. Her kids are all in their 50s and she (mom) never married. She prefers getting away from the rain and snow, and also reconnecting with family there. My friend and his sister will inherit the home when she eventually passes.
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Retiring overseas is the cheat code.

If you are single, and have 60K income per year after taxes, you are in the top 1% of earners globally.

Why not live like a king?.Early retirement was an easy decision for me. Americans work too hard. You can start a new family overseas cheap too, if you choose.

I don't even care about active income anymore, only passive income.


www.vox.com

Lots of Americans are in the global 1%. A tenth of their income could transform the world.

How people like you could wipe out extreme poverty and prevent the next pandemic.
www.vox.com www.vox.com
 
Helico-pterFunk

Helico-pterFunk

Rising Star
BGOL Legend
HotNixon36 said:
Retiring overseas is the cheat code.

If you are single, and have 60K income per year after taxes, you are in the top 1% of earners globally.

Why not live like a king?.Early retirement was an easy decision for me. Americans work too hard. You can start a new family overseas cheap too, if you choose.

I don't even care about active income anymore, only passive income.


www.vox.com

Lots of Americans are in the global 1%. A tenth of their income could transform the world.

How people like you could wipe out extreme poverty and prevent the next pandemic.
www.vox.com www.vox.com
Click to expand...



Well said re: passive income.


That's the key.


Props to you on early retirement!
 

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