What do you do with your 401k money when you retire?

Microsoft Wwbk62
Jul 7 20 Comments

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.

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TOP 20 Comments
  • Wayfair / Eng
    jwxs26

    Wayfair Eng

    PRE
    Microsoft
    jwxs26more
    Inflation, 200k then is going to feel like 50k now.
    Jul 7 4
    • Google AmCu24
      Oh shit I forgot about this
      Jul 7
    • Microsoft Wwbk62
      OP
      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.
      Jul 7
    • Akuna Capital / R&D 3-SAT
      7% is usually the return after inflation
      Jul 7
    • Wayfair / Eng
      jwxs26

      Wayfair Eng

      PRE
      Microsoft
      jwxs26more
      Sure but look at historical inflation not rules of thumb. Post gold standard US inflation has 50k in purchasing power now 200k in 50 years (approximately). You can do the math as well as I can for exact numbers...
      Jul 7
  • Sumo Logic ths
    Hospital bills
    Jul 7 1
    • ANCILE Solutions, Inc. eNBa60
      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.
      Jul 7
  • Amazon plummet
    Lol if you live in America all your savings may potentially be lost on healthcare costs + sending your kid to college.
    Make your $$$ in America and gtfo
    Jul 8 1
    • Microsoft Wwbk62
      OP
      I am a foreigner actually. I probably will move back to my country. That's a good idea.
      Jul 9
  • New / Other
    DuQvV7y

    New Other

    BIO
    Did stuff. Hustled hard. Retired
    DuQvV7ymore
    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.
    Jul 7 0
  • Oracle / Sales
    gTdk6fX

    Oracle Sales

    PRE
    Google
    gTdk6fXmore
    Because a Lambo is a lot more fun than a Buick Century. 🏎
    Jul 9 0
  • LinkedIn / Data mSNI75
    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)
    Jul 7 0
  • Salesforce / Eng namehere1
    Hookers and
    Blows.
    Jul 7 0
  • Amazon lslu36
    Healthcare costs!
    Jul 7 1
    • Facebook ifnr
      Move to Europe or Canada. Healthcare problem solved ;)
      Jul 7
  • Google / Eng ogc
    myroadtofire.com
    Sep 22 0
  • Google / Eng QrJx75
    You're not wrong. This is a personal preference.
    Jul 8 0
  • Uber Caramba8
    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
    Jul 7 0
  • Facebook ifnr
    YOLO!
    Jul 7 0
  • IBM / Eng namastayyy
    do it op
    Jul 7 0