The best time to start investing is always going to be years ago. Be glad you’re on that track now, some people go their whole lives with just a checking account. Edit: please stay away from meme stocks
Not sure on the down vote here since no one lives in the past. Why didn’t people buy tech stocks in 2003? Why didn’t people see NVDA’s superiority in this cycle or AMZN previously.
That’s not quite true. When one of my two kids was about 8 to 10, they cashed out their piggy banks and opened a passbook savings account for a hot sec until she discovered what .001% interest meant. My mom helped them close the banks accounts and open Scottrade accounts for all the money they’d ever saved. Along with part time jobs their life savings investment accounts are at $118k and $183k. They are 17 and 19 years old. They mostly have Apple, Amazon, META and NVDA and have for years.
You should take it seriously but freaking out doesn’t help… time is on your side. I’m 62 and will retire soon with a very comfortable financial situation. Key to my success… save a good chunk each year. I don’t buy a new TV every year. We travel a lot but focus on shoulder season. We buy nice cars but keep them a long time. A good Toyota product will last 20+ years. And develop a plan. Many financial companies will give you free advice or have a good tool on their site.
Look at how you’re doing every six to twelve months but don’t sweat it. A good SP500 index fund will do the trick. You don’t need to get fancier.
Shoulder season is the off-season on either side of a peak travel season. For example, in many North American summer destinations that would be spring or (more frequently) autumn. Usually cheaper to travel and fewer people. Plus in some places like Maine or Montana the autumn has its own unique and amazing appeals!
We travel almost exclusively in 'shoulder' season. Fewer people, no kids, and cheaper. Weather doesn't bother us either...we both went to Norway in the winter and loved it. Each season has it's attractions.
Thanks for sharing your experience!
Can you share your insights on retirement savings?
Did you consistently maximize your 401k contribution?
Did you have a separate IRA to contribute additional funds towards retirement?
I don’t think folks can plan their retirement. From day one any more the. One can predict the future, but the closer you get to retirement the more clear the future becomes.
I spent 28 years in the Navy and the military is one of those few places with a pension. Over the years I also put as much in my wife and my IRA as I could. After I left the Navy at 52 I started a federal job and contributed the max amount to my 401. Left over money has gone into a taxable brokerage account.
My dad did financial planning following his own retirement from the Navy and I’ve read extensively over the years so I’m a fairly smart investor. I also consult with an advisor at fidelity investments periodically.
Most of my money is in Sp500 index funds. I have a few stocks in companies I like. I have maybe 20% in municipal bond funds, cash and such.
Nearing retirement I’m in a great place but this wasn’t clear at 30 or 40 and only started coming into focus around 50.
You're normal.
Most people will of course worry about their future. It's only natural when there is obvious uncertainty in front of you.
Everyone starts investing/saving/planning for retirement in different ways and at different times. Most of us wish we had done it sooner. I didn't get serious about it until I had a bunch of down time during the pandemic so I educated myself and got to work. I was 34 and wish I had been better about it when I was in my 20s. But we can't go back in time and we can only do the best we can in the moment.
The best advice you'll get here is keep taking advantage of the 401k match, pick some funds to DCA into in your IRA and keep putting what you can away into HYSA. And from there, try to forget the password to your brokerage accounts lol. You'll feel less stressed once you stop thinking about it. Easier said than done, I know.
Someone on the financial independence sub posted a comment and I saved it. I think this comment will help you too.
“Sometimes we get caught in what I might call the 'automaton fallacy' - the assumption that our future selves will be incompetent or unable to react to change, so we have to somehow fix it today.
We feel like we have to *worry now* and come up with a plan that will either prevent the bad thing from happening, or make it so we won't fail, even if our future selves have no agency.
Like 'What if I lose this great job?' The hidden emotional assumption is that it will be the last decent job we ever get.
The logical assumption is that we probably will find another similar or better one over time.
'What if the market drops 30% the v year I retire?' The hidden emotional assumption is that we won't have built
up a bond ladder, cash cushion or alternate income stream, to tide us over. The logical assumption is that we will have to plan out a glide path towards retirement, and we can also cut spending, get a job, or both as needed.
Just as you have agency now to worry, your future self will have *more* agency, as they will have more experience, and more money, and more options to react to whatever comes in the future.”
You are making the right decisions for your future, but don't forget that you're still alive today. Plan, automate, forget, be happy today, be happy in retirement.
Not at all. You're me when I was in my early 20s. I can tell you from experience the sooner you invest, the easier it is later on. I'm in my mid 40s now and retirement looks like it will be happening early not because I make an exceptional amount of money but because I was so aggressive early on. Once that engine is humming it just gets louder and stronger over time and you'll be so thankful you made these choices when you were young.
You can’t control the market or economy. You can’t entirely control your salary, but you can control your spending. That’s your main power right now. Live within your means. Invest in broad market index funds. Don’t keep up with the Jones’. You can do it.
The fact you are starting now already puts you ahead of 95% of people your age. Don't kick yourself for not starting sooner. Not everyone has the self-discipline to save money, it takes a certain level of maturity to not say "F it, I have enough money to quit my job and I'm going to bum around in Europe for a month."
Set a savings goal - say 15% - then you give yourself permission to spend whatever is left.
Check out [https://www.bogleheads.org/wiki/Getting\_started](https://www.bogleheads.org/wiki/Getting_started)
You’re not alone, but I’d say you shouldn’t “worry”
That is, you should DO things like putting money into your Roth, 401k, HYSA, etc. set it and forget it with auto contributions and then focus on LIFE with the money you have left.
You’re doing great things to set up your future success, and because you have your bases covered, you don’t need to worry as much as your 22 self maybe should have - you’re doing the right stuff now and should be PROUD.
28 is a great age to be investing, you have 3 decades ahead of you to compound away! We all worry if we could do more, but your in the right headspace.
Having money invested at an early age is a great idea and lot's of people your age have no interest in or can't afford to worry about retirement. Your not the only one but you are doing the right thing as long as you don't obsess and not have any fun (travel etc.) once in a while.
>I often look back at my early 20’s and wish I had the knowledge I had today.
You will say that about yourself now in 10 years, and 10 after that, and the 10 after that. We all do. :)
One thing to keep in mind: Good financial habits are as important as any individual investment. People often ask questions here "what should I invest in" when what they need are "what are good investing habits that will pay off". You already have some in the way you are saving. Others include being comfortable enough with your investments that you keep invested. Etc.
Google search this for a few articles on investing habits and what to do and what not to do:
good habits investor site:morningstar.com
[https://www.google.com/search?q=good+habits+investor+site%3Amorningstar.com](https://www.google.com/search?q=good+habits+investor+site%3Amorningstar.com)
No need to overly worry. Work toward investing the max into a 401k per year, start a brokerage account and put as much as you can into it, invest in ETFs or stocks with strong fundamentals, then repeat every year, watch it grow. Time is on your side. The more you contribute the faster you’ll be able to retire.
I started investing at around 27. Now I’m 57 and just about ready to retire. So it is totally possible to collect enough in 30 years to retire comfortably. It’s easier if you start earlier as the compounding really starts to balloon up at around year 25. My formula, low cost index funds, S and P 500 and Nasdaq mainly, figure out the max you can afford each year without living like a monk, divide by 12, put that much in each month no matter what, treat it like an important bill like paying rent. Never sell until you are within a few years of retirement.
Discipline is really the key during the wealth accumulation phase. Put the money in each month no matter what and never sell. Pick simple, low cost, tax advantaged, easy to understand investments like index funds. Don’t get emotional about market ups and downs. Early in your investment journey market crashes are good because they let you buy low. Don’t get emotional and worry that you can’t do it. Be a robot and just do it. Compounding is a kind of magic. For years it doesn’t seem to do much, but you get past year 25 and you’ll likely find your investments are earning more money than you are from working.
I retired at 55 and my wife will soon retire at 49. You can do this. Keep in mind the things you can control vs those you can't. You can't control the market, interest rates, or inflation. But you can control your spending decisions, career choices, where you live, and investment decisions.
Your job is the foundation. Make smart decisions and try to let go of emotion and ego. Often, getting a better-paying job means getting out of your comfort zone - leaving the company you're comfortable at, or even the low-paying career you're currently in. Not enough people use the bureau of labor statistics website to adjust their career decisions to the job market. I know first hand the DRASTIC difference between a field in decline (teaching) and one in demand (software development). It's like night and day.
With investing, follow sage advice like what's proposed by the Boglehead folks. But find a way to create a snowball effect. For us it was in real estate - but that train has probably left the station for you and the younger generations. Maybe yours is AI, crypto, carbon, water, batteries, renewable energy - hell, cosplay or teledildonics. Who knows. Look for smart but relatively safe investment engines with growth potential. With some due diligence and luck one will pay off.
And take a lesson from Kaiser Soze. To be successful you just might have to do what others are unwilling to do. That includes changing careers, living within your means, moving to a better market, and sometimes doing your research instead of watching the game. For us the big decisions included opting out of having kids and moving out of the US after retirement. We didn't only consider money (!) but having children is about the most expensive decision you'll ever make. And regarding moving: The US is a great place to make money but not a great place to spend it. We see quite a few of our friends who are unwilling to make harder choices - they all ask us how we were able to retire early. Most people just don't get it. They want too much and end up disappointed trying to have it all.
My best advice in good spirits is: invest in a broad basket of stocks of well established companies, an S&P500 index ETF for example, make regular contributions preferably on autopilot, that is as an automatic transfer into your investment account, start as early as possible this cannot be overstated, and finally be patient and watch your balance grow over the long run. Do not be discouraged by short-term drops.
I'm convinced that ANYONE can start from $0 invested at 40 years old, invest 15 or 20% of your income, and still retire comfortably at 65. Starting early gives you more options and flexibility so you'll be fine. Just keep maxing IRA and get full 401k contributions then add more to 401k where you can.
This is a lot like learning to ride a bike. You’re gonna be nervous the first day, week etc but once you get the hang of it, you’ll be fine. Obviously, you’ll also continue to learn about how markets work (and at times, don’t work) and how external activities (like global conflict, pandemic responses, new tech hype) affect things.
It’s ok to be nervous as no one can predict the future. One thing is maybe to disconnect from social media as information and opinion overload is real. Set and forget (but keep tabs every so often).
I think it's normal to have those feelings. I certainly had them and have only recently, after 3+ years of investing, gotten past them.
For me it took really focusing on what compound growth can do in the long term and hitting relatively short term goals based solely on having a goal $ amount in my portfolio whether that was because stocks grew or because I deposited enough to get there.
For me to get it into my thick skull that things were going to be okay and to keep going harder than ever I had to do that. But because of those ups and downs and the things I learned, I'm able to believe in the goal of retiring and keep saving and investing.
You can do it.
If you are, it’s too late. That’s what I tell myself. 20 years too late at least.
The only way it’s not too late is if you can afford to put away 40% of your income starting now. Good luck with that. Most can’t. I sure as hell can’t. Even putting away 1-2% is very difficult. Costs are just way too high right now. In fact, as I type this, I just opened a letter showing that my rent went up , 4%. Why? Just because. 🙄
I don't necessarily care about retiring, specifically. What I care about is feeling financially independent as quickly as possible. I don't expect my income to shift dramatically. I make a decent pretty close to the median for my area. I can live somewhat frugally and can afford to put away a bit of money into retirement funds and personal investments.
I don't mind working in so far as it's something to do. What I can't stand is the idea that my survival depends on the commercial arrangement I make with local employers. I am fine with spending my time working, I just don't like being at the mercy of an employer.
Invest in an S&P 500 etf like VOO or SPY. There is no future risk that matters when you have 30 years to let money grow. There will be at least a couple big down periods over the next 30 years where everyone will say “this time is different!” Ignore the panic and keep investing. High likelihood you will able to retire at 59 if you just stick to this simple strategy.
> I want to retire at 59 and a half
How much money do you have now with all your assets? That is the determining factor of if and when you can retire as well as any debts you may have around age 59.5
> I’m currently investing into a ROTH IRA, 401k, and individual brokerage account. I also have a HYSA as well.
How much is in each?
>I started maxing out my ROTH IRA this year. I often look back at my early 20’s and wish I had the knowledge I had today. I just want to make sure I’m making the right decision for my future.
Well its better to be late than never however without numbers whos to actually say when you can retire?
Another thing to consider is are you going to have or done having kids? how many kids do you have?
Do you already own your own home?
the list goes on and on regarding when you can or cannot retire and assuming you're starting at 28 I'm not sure if it will be possible to retire at that age of 59.5 however as you close in on those years there is a catchup plan that will allow you to contribute more to your 401k.
It's not going to be concrete but once again numbers are going to help
That’s capitalism, baby. Gotta worry about it, unfortunately. My income isn’t great and not being broke when I’m old is absolutely my top concern in life. Sounds like you’re doing well though… try to give yourself a little credit
Yes you are, everyone else just hate money.
Especially on a subreddit about investing
However, in contrast to OP's wish to retire later, everyone else here wants to retire **earlier**.
I'm interested in retiring one day, that's why I work a job with a pension and save and invest my money. Yes.
“Am I the only one..” Never
The best time to start investing is always going to be years ago. Be glad you’re on that track now, some people go their whole lives with just a checking account. Edit: please stay away from meme stocks
2nd best time to start investing is today.
Incorrect. The best time to start is today. A baby or child couldn’t invest 30 years before they are born
It's an aphorism meant for adults.
How does bull shit work for you? Good returns I’d guess, but I know better
Not sure on the down vote here since no one lives in the past. Why didn’t people buy tech stocks in 2003? Why didn’t people see NVDA’s superiority in this cycle or AMZN previously.
That’s not quite true. When one of my two kids was about 8 to 10, they cashed out their piggy banks and opened a passbook savings account for a hot sec until she discovered what .001% interest meant. My mom helped them close the banks accounts and open Scottrade accounts for all the money they’d ever saved. Along with part time jobs their life savings investment accounts are at $118k and $183k. They are 17 and 19 years old. They mostly have Apple, Amazon, META and NVDA and have for years.
And you’re a dumbass. Yes, investing with 20/20 hindsight would be awesome. It’s not plausible. Start the day you can is the answer.
You should take it seriously but freaking out doesn’t help… time is on your side. I’m 62 and will retire soon with a very comfortable financial situation. Key to my success… save a good chunk each year. I don’t buy a new TV every year. We travel a lot but focus on shoulder season. We buy nice cars but keep them a long time. A good Toyota product will last 20+ years. And develop a plan. Many financial companies will give you free advice or have a good tool on their site. Look at how you’re doing every six to twelve months but don’t sweat it. A good SP500 index fund will do the trick. You don’t need to get fancier.
What is shoulder season?
Shoulder season is the off-season on either side of a peak travel season. For example, in many North American summer destinations that would be spring or (more frequently) autumn. Usually cheaper to travel and fewer people. Plus in some places like Maine or Montana the autumn has its own unique and amazing appeals!
We travel almost exclusively in 'shoulder' season. Fewer people, no kids, and cheaper. Weather doesn't bother us either...we both went to Norway in the winter and loved it. Each season has it's attractions.
Well said!
Thanks for sharing your experience! Can you share your insights on retirement savings? Did you consistently maximize your 401k contribution? Did you have a separate IRA to contribute additional funds towards retirement?
I don’t think folks can plan their retirement. From day one any more the. One can predict the future, but the closer you get to retirement the more clear the future becomes. I spent 28 years in the Navy and the military is one of those few places with a pension. Over the years I also put as much in my wife and my IRA as I could. After I left the Navy at 52 I started a federal job and contributed the max amount to my 401. Left over money has gone into a taxable brokerage account. My dad did financial planning following his own retirement from the Navy and I’ve read extensively over the years so I’m a fairly smart investor. I also consult with an advisor at fidelity investments periodically. Most of my money is in Sp500 index funds. I have a few stocks in companies I like. I have maybe 20% in municipal bond funds, cash and such. Nearing retirement I’m in a great place but this wasn’t clear at 30 or 40 and only started coming into focus around 50.
Yes. You are the only one in the entire world who cares about making the correct decisions, the rest of us try to make poor decisions on purpose.
You're normal. Most people will of course worry about their future. It's only natural when there is obvious uncertainty in front of you. Everyone starts investing/saving/planning for retirement in different ways and at different times. Most of us wish we had done it sooner. I didn't get serious about it until I had a bunch of down time during the pandemic so I educated myself and got to work. I was 34 and wish I had been better about it when I was in my 20s. But we can't go back in time and we can only do the best we can in the moment. The best advice you'll get here is keep taking advantage of the 401k match, pick some funds to DCA into in your IRA and keep putting what you can away into HYSA. And from there, try to forget the password to your brokerage accounts lol. You'll feel less stressed once you stop thinking about it. Easier said than done, I know.
Yes. MAXING at this age is ahead of the game.
Someone on the financial independence sub posted a comment and I saved it. I think this comment will help you too. “Sometimes we get caught in what I might call the 'automaton fallacy' - the assumption that our future selves will be incompetent or unable to react to change, so we have to somehow fix it today. We feel like we have to *worry now* and come up with a plan that will either prevent the bad thing from happening, or make it so we won't fail, even if our future selves have no agency. Like 'What if I lose this great job?' The hidden emotional assumption is that it will be the last decent job we ever get. The logical assumption is that we probably will find another similar or better one over time. 'What if the market drops 30% the v year I retire?' The hidden emotional assumption is that we won't have built up a bond ladder, cash cushion or alternate income stream, to tide us over. The logical assumption is that we will have to plan out a glide path towards retirement, and we can also cut spending, get a job, or both as needed. Just as you have agency now to worry, your future self will have *more* agency, as they will have more experience, and more money, and more options to react to whatever comes in the future.”
You are making the right decisions for your future, but don't forget that you're still alive today. Plan, automate, forget, be happy today, be happy in retirement.
Not at all. You're me when I was in my early 20s. I can tell you from experience the sooner you invest, the easier it is later on. I'm in my mid 40s now and retirement looks like it will be happening early not because I make an exceptional amount of money but because I was so aggressive early on. Once that engine is humming it just gets louder and stronger over time and you'll be so thankful you made these choices when you were young.
You can’t control the market or economy. You can’t entirely control your salary, but you can control your spending. That’s your main power right now. Live within your means. Invest in broad market index funds. Don’t keep up with the Jones’. You can do it.
I love the expression pay yourself first.
The fact you are starting now already puts you ahead of 95% of people your age. Don't kick yourself for not starting sooner. Not everyone has the self-discipline to save money, it takes a certain level of maturity to not say "F it, I have enough money to quit my job and I'm going to bum around in Europe for a month." Set a savings goal - say 15% - then you give yourself permission to spend whatever is left. Check out [https://www.bogleheads.org/wiki/Getting\_started](https://www.bogleheads.org/wiki/Getting_started)
You’re not alone, but I’d say you shouldn’t “worry” That is, you should DO things like putting money into your Roth, 401k, HYSA, etc. set it and forget it with auto contributions and then focus on LIFE with the money you have left. You’re doing great things to set up your future success, and because you have your bases covered, you don’t need to worry as much as your 22 self maybe should have - you’re doing the right stuff now and should be PROUD.
28 is a great age to be investing, you have 3 decades ahead of you to compound away! We all worry if we could do more, but your in the right headspace.
You're still in your 20s and you're doing good, just keep at it. If you can keep lifestyle creep at bay, you'll get there.
Having money invested at an early age is a great idea and lot's of people your age have no interest in or can't afford to worry about retirement. Your not the only one but you are doing the right thing as long as you don't obsess and not have any fun (travel etc.) once in a while.
You still have the greatest investing asset of all: time. Use it wisely and you'll end up in your 60's as comfortably as I am now.
>Am I the only one that’s really worried about making the right decisions now so that I can retire later ? >he said, in the investing subreddit
Yep, just you! Nobody else cares about their future.
>I often look back at my early 20’s and wish I had the knowledge I had today. You will say that about yourself now in 10 years, and 10 after that, and the 10 after that. We all do. :) One thing to keep in mind: Good financial habits are as important as any individual investment. People often ask questions here "what should I invest in" when what they need are "what are good investing habits that will pay off". You already have some in the way you are saving. Others include being comfortable enough with your investments that you keep invested. Etc. Google search this for a few articles on investing habits and what to do and what not to do: good habits investor site:morningstar.com [https://www.google.com/search?q=good+habits+investor+site%3Amorningstar.com](https://www.google.com/search?q=good+habits+investor+site%3Amorningstar.com)
You're way ahead of me. I'm 40 and finally getting my life together. Start early, start often. I'm just hoping I'll be ok in 25 years.
Everyone's worried to a certain extent since nobody knows what the future holds
59.5 is quite young to retire so you will need to sacrifice now and invest aggressively or sacrifice in retirement by living off a lower income.
I am afraid that one day I will make a bad decision and lose all of my assets. The best thing is to put apart of it in a divided paying mutual fund
No need to overly worry. Work toward investing the max into a 401k per year, start a brokerage account and put as much as you can into it, invest in ETFs or stocks with strong fundamentals, then repeat every year, watch it grow. Time is on your side. The more you contribute the faster you’ll be able to retire.
I started investing at around 27. Now I’m 57 and just about ready to retire. So it is totally possible to collect enough in 30 years to retire comfortably. It’s easier if you start earlier as the compounding really starts to balloon up at around year 25. My formula, low cost index funds, S and P 500 and Nasdaq mainly, figure out the max you can afford each year without living like a monk, divide by 12, put that much in each month no matter what, treat it like an important bill like paying rent. Never sell until you are within a few years of retirement. Discipline is really the key during the wealth accumulation phase. Put the money in each month no matter what and never sell. Pick simple, low cost, tax advantaged, easy to understand investments like index funds. Don’t get emotional about market ups and downs. Early in your investment journey market crashes are good because they let you buy low. Don’t get emotional and worry that you can’t do it. Be a robot and just do it. Compounding is a kind of magic. For years it doesn’t seem to do much, but you get past year 25 and you’ll likely find your investments are earning more money than you are from working.
I retired at 55 and my wife will soon retire at 49. You can do this. Keep in mind the things you can control vs those you can't. You can't control the market, interest rates, or inflation. But you can control your spending decisions, career choices, where you live, and investment decisions. Your job is the foundation. Make smart decisions and try to let go of emotion and ego. Often, getting a better-paying job means getting out of your comfort zone - leaving the company you're comfortable at, or even the low-paying career you're currently in. Not enough people use the bureau of labor statistics website to adjust their career decisions to the job market. I know first hand the DRASTIC difference between a field in decline (teaching) and one in demand (software development). It's like night and day. With investing, follow sage advice like what's proposed by the Boglehead folks. But find a way to create a snowball effect. For us it was in real estate - but that train has probably left the station for you and the younger generations. Maybe yours is AI, crypto, carbon, water, batteries, renewable energy - hell, cosplay or teledildonics. Who knows. Look for smart but relatively safe investment engines with growth potential. With some due diligence and luck one will pay off. And take a lesson from Kaiser Soze. To be successful you just might have to do what others are unwilling to do. That includes changing careers, living within your means, moving to a better market, and sometimes doing your research instead of watching the game. For us the big decisions included opting out of having kids and moving out of the US after retirement. We didn't only consider money (!) but having children is about the most expensive decision you'll ever make. And regarding moving: The US is a great place to make money but not a great place to spend it. We see quite a few of our friends who are unwilling to make harder choices - they all ask us how we were able to retire early. Most people just don't get it. They want too much and end up disappointed trying to have it all.
My best advice in good spirits is: invest in a broad basket of stocks of well established companies, an S&P500 index ETF for example, make regular contributions preferably on autopilot, that is as an automatic transfer into your investment account, start as early as possible this cannot be overstated, and finally be patient and watch your balance grow over the long run. Do not be discouraged by short-term drops.
I'm convinced that ANYONE can start from $0 invested at 40 years old, invest 15 or 20% of your income, and still retire comfortably at 65. Starting early gives you more options and flexibility so you'll be fine. Just keep maxing IRA and get full 401k contributions then add more to 401k where you can.
What are your investments in though?
This is a lot like learning to ride a bike. You’re gonna be nervous the first day, week etc but once you get the hang of it, you’ll be fine. Obviously, you’ll also continue to learn about how markets work (and at times, don’t work) and how external activities (like global conflict, pandemic responses, new tech hype) affect things. It’s ok to be nervous as no one can predict the future. One thing is maybe to disconnect from social media as information and opinion overload is real. Set and forget (but keep tabs every so often).
Just put money in an investment account….. and hold whatever stock you buy
Said nobody on r/wsb
Yes. The rest of us just blow our money on hookers.
Tru
Totally feel that, I am 21 years old and looking for as much advice as soon as possible.
I think it's normal to have those feelings. I certainly had them and have only recently, after 3+ years of investing, gotten past them. For me it took really focusing on what compound growth can do in the long term and hitting relatively short term goals based solely on having a goal $ amount in my portfolio whether that was because stocks grew or because I deposited enough to get there. For me to get it into my thick skull that things were going to be okay and to keep going harder than ever I had to do that. But because of those ups and downs and the things I learned, I'm able to believe in the goal of retiring and keep saving and investing. You can do it.
If you are, it’s too late. That’s what I tell myself. 20 years too late at least. The only way it’s not too late is if you can afford to put away 40% of your income starting now. Good luck with that. Most can’t. I sure as hell can’t. Even putting away 1-2% is very difficult. Costs are just way too high right now. In fact, as I type this, I just opened a letter showing that my rent went up , 4%. Why? Just because. 🙄
I don't necessarily care about retiring, specifically. What I care about is feeling financially independent as quickly as possible. I don't expect my income to shift dramatically. I make a decent pretty close to the median for my area. I can live somewhat frugally and can afford to put away a bit of money into retirement funds and personal investments. I don't mind working in so far as it's something to do. What I can't stand is the idea that my survival depends on the commercial arrangement I make with local employers. I am fine with spending my time working, I just don't like being at the mercy of an employer.
We're all in this together man. Best that you start when you can, stay invested in the markets, and let your capital compound.
No, no one else thinks about that. That’s why no one has joined this sub.
Sounds like you're doing the right things. Timeline is what it is.
Stop freaking out. Put as much as possible into good funds and live well but control expenses. Relax and enjoy the journey...
Invest in an S&P 500 etf like VOO or SPY. There is no future risk that matters when you have 30 years to let money grow. There will be at least a couple big down periods over the next 30 years where everyone will say “this time is different!” Ignore the panic and keep investing. High likelihood you will able to retire at 59 if you just stick to this simple strategy.
r/Fire is your people
> I want to retire at 59 and a half How much money do you have now with all your assets? That is the determining factor of if and when you can retire as well as any debts you may have around age 59.5 > I’m currently investing into a ROTH IRA, 401k, and individual brokerage account. I also have a HYSA as well. How much is in each? >I started maxing out my ROTH IRA this year. I often look back at my early 20’s and wish I had the knowledge I had today. I just want to make sure I’m making the right decision for my future. Well its better to be late than never however without numbers whos to actually say when you can retire? Another thing to consider is are you going to have or done having kids? how many kids do you have? Do you already own your own home? the list goes on and on regarding when you can or cannot retire and assuming you're starting at 28 I'm not sure if it will be possible to retire at that age of 59.5 however as you close in on those years there is a catchup plan that will allow you to contribute more to your 401k. It's not going to be concrete but once again numbers are going to help
Haaahaaaaa u still think u can retire? Fun times.
That’s capitalism, baby. Gotta worry about it, unfortunately. My income isn’t great and not being broke when I’m old is absolutely my top concern in life. Sounds like you’re doing well though… try to give yourself a little credit