I don't understand why people are obsessed with retiring rich. As long as you have a comfortable house and people you love around, why do you want a fucking Lamborghini? I would just want to read books and play with my grandchildren. I think that if you use the money and invest in yourself right now, experience whatever you always wanted to do, it is way more worth than the 4x money at the age of 60. I would rather spend the 50k right now and do lots of cool shit than having 200k to spend on fancy foods and houses at the age of 60. Dont tell me that buy hookers type of bullshit. I would definitely invest some money for 401k for the company match. And probably withdraw the shit if I have to spend it. Convince me I am wrong.
Hookers and Blows.
Hospital bills
Yeah. This! If you’re a man, you’ve got ~ 40% chance of getting cancer in your lifetime - might be higher if you have a family history of a certain kind. Unlike other developed nations, that will royally screw you financially...not surprising with all the gofundme cancer help pages out there.
There are multiple ways to skin a cat. I chose to set up enough of a revenue stream that allowed me to retire at 43 and not to work longer. People who make different choices are not wrong. They’re choosing things they value or enjoy. And for some, being rich matters. If you want a Lamborghini, if it sparks joy in you, go for it. YOLO. It can also be converted to a house if you need shelter in waning years.
do it op
How much money do you think you’ll need each year to live comfortably after you retire? How many years do you think you’ll live after retirement? ($200k seems low for an amount to retire with tbh)
Healthcare costs!
Move to Europe or Canada. Healthcare problem solved ;)
YOLO!
Some people come from families that have a lot of folks live past 100, you have to save a lot if you ll get very old
You're not wrong. This is a personal preference.
Inflation, 200k then is going to feel like 50k now.
Oh shit I forgot about this
I took inflation into account. 7% return, 2% inflation in 30ish years roughly translate to roughly 4x of the inflated money. If that makes sense.