Retirement Targets

cycub51

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I wish the HSA's were around in my much younger days. Back when rarely saw a doctor and had no issues so high deductibles and OOP max would be no issue. Money would have piled up in there.
I just don't understand how HSA's aren't universally available. It makes no sense to me that someone with a copay for regular visits but still a relatively high deductible for hospital costs is any better off than someone with a high deductible.
 

SayMyName

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Seriously folks ... if you think 401ks are a scam we just need to have a conversation. I'm pretty conservative, almost 67, retiring in a few months. I don't have a pension and my 401k(s), which I've been contributing to since they were available (with the company match), will provide a comfortable retirement. I'm very happy where I am at. Maybe I've been lucky with my employment -- my I-State degree for sure didn't hurt.

What's wrong with working a little longer? I think that's the key -- keep fricking working at something. Retire at 60? I would have missed the best earning years.
Because time (i.e. your lifetime longevity) is the most valuable commodity, and the one thing money can't buy. So there are definite tradeoffs to working "one more year".

Doing all I can to make it to 55, then I'm planning like hell to exit the rat race - while I'm "young" and healthy / active. Tomorrow is never promised...
 

KnappShack

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Nope. Recent chain-analysis estimates from 2024 suggest .34% of crypto transaction volume to be illicit.

The purpose of Bitcoin is to provide a global peer to peer medium of exchange independent of government control. It's that simple.

Satoshi invented a way through cryptography to remove trust from financial transactions. He removed counterparty risk and established a system with a fixed and predictable monetary policy. If he were not anonymous he would probably deserve the Nobel Prize.

The only people I have met that continue to fade bitcoin are those who don't understand it, or 40+ year olds that are so entrenched in the legacy system they are blind to it's problems.

The ACFE has it a bit higher. I still don't understand it and if I don't understand the value then I can't invest in it


The 2024 study provides statistics on the role cryptocurrency plays in fraud. Although many people associate fraud with digital assets, the study found that only 4% of schemes involved cryptocurrency. Of those cases, crypto was most commonly used to convert stolen assets (47%) and make bribery and kickback payments (33%)
 

yowza

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Because time (i.e. your lifetime longevity) is the most valuable commodity, and the one thing money can't buy. So there are definite tradeoffs to working "one more year".

Doing all I can to make it to 55, then I'm planning like hell to exit the rat race - while I'm "young" and healthy / active. Tomorrow is never promised...
It is TIME. That is the secret.
 

dmclone

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This whole thread points out why I love the 401k. Some people are fine working until they die, some people want to retire at 55, some people want to create generational wealth, etc. Everyone has different goals and no one is forcing anyone to contribute. It's all about personal responsibility.

The only thing to think about is that when you're 25, the chances of you knowing what your retirement will look like, are close to zero. I've yet to meet anyone say "I wish I would have saved less when I was younger".
 
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yowza

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Jun 2, 2016
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Seriously folks ... if you think 401ks are a scam we just need to have a conversation. I'm pretty conservative, almost 67, retiring in a few months. I don't have a pension and my 401k(s), which I've been contributing to since they were available (with the company match), will provide a comfortable retirement. I'm very happy where I am at. Maybe I've been lucky with my employment -- my I-State degree for sure didn't hurt.

What's wrong with working a little longer? I think that's the key -- keep fricking working at something. Retire at 60? I would have missed the best earning years.
You lucky bastard. Have a long, healthy and great retirement.
 

1SEIACLONE

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Seriously folks ... if you think 401ks are a scam we just need to have a conversation. I'm pretty conservative, almost 67, retiring in a few months. I don't have a pension and my 401k(s), which I've been contributing to since they were available (with the company match), will provide a comfortable retirement. I'm very happy where I am at. Maybe I've been lucky with my employment -- my I-State degree for sure didn't hurt.

What's wrong with working a little longer? I think that's the key -- keep fricking working at something. Retire at 60? I would have missed the best earning years.
Each person is different when it comes to age of retirement, the amount needed and the lifestyle they want to maintain. Glad that you are happy with your decision to keep working. For me to retire at 61 was a no brainer, I was at the top of the salary scale, and had maxed out my IPERS at 34.5 years. Coming back to teach to get in .5% more would have cost me money because I would have been earning less than retiring and drawing my SS.
 
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KnappShack

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This whole thread points out why I love the 401k. Some people are fine working until they die, some people want to retire at 55, some people want to create generational wealth, etc. Everyone has different goals and no one is forcing anyone to contribute. It's all about personal responsibility.

The only thing to think about is that when you're 25, the chances of you knowing what your retirement will look like, are close to zero. I've yet to meet anyone say "I wish I would have saved less when I was younger".

Wife at 22 - "Hey coworker. What should I do in the 401k plan?"

Coworker - "Meh. You're too young to think about retirement!"

Wife - "OK!"

The ******* worst advice given. Sadly a true story. She didn't start a retirement savings until she met me. But even with bad info you can still make a rally.
 
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cycloneworld

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Seriously folks ... if you think 401ks are a scam we just need to have a conversation. I'm pretty conservative, almost 67, retiring in a few months. I don't have a pension and my 401k(s), which I've been contributing to since they were available (with the company match), will provide a comfortable retirement. I'm very happy where I am at. Maybe I've been lucky with my employment -- my I-State degree for sure didn't hurt.

What's wrong with working a little longer? I think that's the key -- keep fricking working at something. Retire at 60? I would have missed the best earning years.

Nothing is wrong with working a little longer - if that's what you want to do. But not everyone wants to do that. So many people hate their jobs and it sucks their soul away. If you love your job and want to work, great. But making people work because healthcare insurance and costs are so insane is a crazy notion for the richest country in the world.

For me, I want to be fully financially secure by the time I'm 50 (I'm 42 now). So that if I love what I'm doing (I do now), I can keep working. But I'm nearing a decade of 50-65 hour work weeks that were fine in my 30s and early 40s but I know that I don't want to keep up that pace indefinitely. So I want an off ramp that I decide when to take, no one else. But healthcare costs will likely force me to work for many more years that I would have to.
 

Tailg8er

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The only thing to think about is that when you're 25, the chances of you knowing what your retirement will look like, are close to zero. I've yet to meet anyone say "I wish I would have saved less when I was younger".

Well yeah, most people who would say that died before being able to retire, so of course you haven't heard it..

But overall I agree, I will definitely be telling my kids to put as much as they can in as early as they can once they start working.
 
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CycloneDaddy

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Sep 24, 2006
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Wife at 22 - "Hey coworker. What should I do in the 401k plan?"

Coworker - "Meh. You're too young to think about retirement!"

Wife - "OK!"

The ******* worst advice given. Sadly a true story. She didn't start a retirement savings until she met me. But even with bad info you can still make a rally.
Dang that sucks they didnt get good advice.

I was dating my now wife when she got her 1st job after ISU. I told her to max what the company match was and then any raise she got half should got to 401. You would think she would say Thank You when she looks at the balance.
 
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Cyclones_R_GR8

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I wish the HSA's were around in my much younger days. Back when rarely saw a doctor and had no issues so high deductibles and OOP max would be no issue. Money would have piled up in there.
I started an HSA the first time I was offered. I figured instead of paying x amount of dollars to the insurance company I could pay half of that to the insurance company and the other half to myself. I rarely touched it until last year when I hit my max. Even then I had enough money in it that with the investments I have more in it than I did last August.
I can use HSA money to reimburse my Medicare payment if I so desire. It shouldn't even need to grow that aggressively in order to do that and keep growing.
 

Cyclones_R_GR8

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What's wrong with working a little longer? I think that's the key -- keep fricking working at something. Retire at 60? I would have missed the best earning years.
I'm definitely in my best best earning years and upped my 401(k) contribution to take advantage of that these last few years. Last summer I rolled over what was in my 401(k) into my IRA and started from 0 again. I figure when I retire next year I'll just take whatever is in the 401(k) and live off that and SS for another year or so and just let the other stuff continue growing. Have to determine the tax side of that to make the final decision
 

JustAnotherTimeline

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Ah, so the only drug dealers in town are the ones that are identified and caught as well, correct?

Perfect, problem solved.

All currencies have significant fraud, including the dollar. Just because something CAN be used for bad, doesn't mean it is inherently bad.

These half baked talking points championed by the Senator Warren's of the world are eroding away just like she is. It's only a matter of time before this will become increasingly obvious.

Oh, and since this is a retirement thread. Buy some bitcoin in your retirement allocation. It will outperform the S and P over time.
 

Tailg8er

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Feb 25, 2011
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All currencies have significant fraud, including the dollar. Just because something CAN be used for bad, doesn't mean it is inherently bad.

These half baked talking points championed by the Senator Warren's of the world are eroding away just like she is. It's only a matter of time before this will become increasingly obvious.

Oh, and since this is a retirement thread. Buy some bitcoin in your retirement allocation. It will outperform the S and P over time.

Are you guaranteeing that? Or just saying that it has in it's very short existence?
 

JustAnotherTimeline

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Jul 29, 2021
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Are you guaranteeing that? Or just saying that it has in it's very short existence?

No. But is should for at least awhile. But it won't always because it will reach saturation (which by design). The easy money is over. But, more and more companies and countries will begin holding BTC on their balance sheets. Over the next 10-15 years BTC will chip away at the marketcap of gold. It will probably overtake silver in the next 6-12 months, easy.

What is going to stop it?
 

Tailg8er

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Feb 25, 2011
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No. But is should for at least awhile. But it won't always because it will reach saturation (which by design). The easy money is over. But, more and more companies and countries will begin holding BTC on their balance sheets. Over the next 10-15 years BTC will chip away at the marketcap of gold. It will probably overtake silver in the next 6-12 months, easy.

What is going to stop it?

Oh I personally have no idea what (if anything) will stop it, but I'm not here guaranteeing investment performance, either. I don't think I've seen anyone here guarantee anything investment-wise, so your post stuck out.

ETA - your initial post said "it will outperform" - not "I think it will outperform", so it certainly looked/sounded like a guarantee.
 
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JustAnotherTimeline

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Oh I personally have no idea what (if anything) will stop it, but I'm not here guaranteeing investment performance, either. I don't think I've seen anyone here guarantee anything investment-wise, so your post stuck out.

ETA - your initial post said "it will outperform" - not "I think it will outperform", so it certainly looked/sounded like a guarantee.

Fair point. Although, I would push back bit. There are numerous posts on here that basically say..."do this...not that...invest....time...%....yadada.................and you will be alright".

Most of these statements rely on the assumption that the S and P will go up at a level based on past performance. That certainly isn't guaranteed either.

tbh, it really isn't a hot take to say bitcoin will outperform the S and P. It's position on the risk curve and it's potential to beat the market is part of the reason you are going to see it more and more in investment mix recommendations.
 

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