Still think TITNC3: Return of the Iceberg was peak

It’s kinda crazy, all the fast foods were posting 15 and up. With the exception of Taco Bell, 12.50 last time I drove by

 

Do you think this 40% was the group that diligently saved and invested their whole career?

If you make no plans in regard to supporting yourself when you can no longer work, you should be absolutely grateful the rest of us are willing to subsidize your poor life skills.

I mean, obviously.

Beyond that, if you stay at the same income level you are at at age 24 your entire life, you have some serious introspection you need to do. Things are not going to improve if you are not actively pursuing advancement.

If you do the same thing for 40 years, never save, and are then surprised when retirement is a lifestyle downgrade well....there is little help for stupidity.

This is true, and there is a discussion to be had about what to do with someone who has an IQ of 75 in a society based around the economic value of intelligence. It's a different discussion.

 

Probably the most important part of the discussion. There's a lot of dumb uneducated people out there.

 

Here in SoCal, Del Taco is hiring for $21 an hour. The market is a workers paradise, for now.

 

WTH does Starbucks have a Union? I know it's optics. Say you work at SB and don't like something about the job, go get another job it's a coffe shop, a vending machine can do the job.

 

2008.

Your post about law school is exactly my point. Good discrenment. And lookit you - made money and doing fine in life

 

Is IQ of 75 high? Asking for a friend

 

It's higher than some!

 

Sweet! I mean, he’ll be happy to hear that

 

Right, and there's a selection bias just by interacting with the folks on the forum. Everybody in this thread has money to invest.

For every one lucky dumbass like me, there's many more who came out of college in '08/'09 and are still trying to put their lives together in their 30s

 

40% of the retired populace living solely off of social security is a massive problem.

And that's an average of people between 24-40. So some 24 year olds are doing better, and some 40 year olds are doing worse. But basically, within that age range, people our age don't have shit for assets. Again, a massive problem for the future.

But quarterly earnings calls never look farther ahead than the next quarter, so mired in stupidity and arrogance we shall remain.

 

Mired in stupidity is really my comfort zone

 

If you take a look at the general populace, it's quite evident that many others feel the same way.

 

Exactly. Here's the math. This is using an average return of 10%. Which is the S&P's average for the last 30 years.

https://www.calculator.net/investme...ng&ciadditionat1=annually&printit=0&x=58&y=26

It's also using the max IRA contribution. If you have less to put in annually you just work longer to get there. A 22 year old guy could retire with $1M at 52 if they maxed out. lol

 

I contribution limit was lower when I started my ROTH 15 years ago. But that’s the math that made me start it

 

And my counter-point is that there are millions upon millions of people who quite simply don't have the luxury to save at that rate. And there's even more that don't know they should be doing it. Blame it on the youth wanting iPhones if you want, but I think it's a systemic education problem. We're setting the younger generation up for failure and they don't even know it because nobody taught it to them.

 

I won't blame some not getting there on anything. I figured out retirement just by listening to my mom and her friends. Start saving early. Keep saving yearly. Retire early.

 

Shhhh, we can’t have everyone retiring at 50, keep it down.

 

For sure. But if you've been self-managing the IRA I'd bet your returns where higher. I know mine have been.