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Guns
by Bmyers142 - 05/09/25 05:23 PM
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73 members (3Gs, sj22, J_Martin, Bulls eye, BHeron35, AU338MAG, ECO25, fishunt1001, Greg Jones, Bustinbeards, canvasback, johnv, PossumPecker, NonTypical, woodduck, MikeP, hippi, jmj120, crenshawco, oakachoy, TDog93, Turkey, sumpter_al, Pwyse, rhino21, Radaralph, BrandonClark, jhardy, Ray_Coon, fourfive45, dustymac, Khitzeman, Tree Dweller, Safetyman, BCLC, ALMODUX, Geeb, 7PTSPREAD, CNC, Cynical, Tall Dog, AC870, BamaFan64, Hunting-231, walt4dun, BradB, rkt, skymech, NoHuntin, Morris, Mike32, Dubie, donia, BamaGuitarDude, Meatn3, Backwards cowboy, paulfish4570, DGAMBLER, Whitetaillane, BhamFred, coldtrail, odocoileus, Paint Rock 00, JHL, Livintohunt19, hoggin, coosabuckhunter, 6 invisible),
851
guests, and
0
robots. |
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Key:
Admin,
Global Mod,
Mod
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Joined: Jul 2017
Posts: 591
4 point
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4 point
Joined: Jul 2017
Posts: 591 |
There’s a loophole in 401k law.... if y’all haven’t figured out self directed investing yet you’re behind the curve. You can use you’re 401k money to buy real estate.... doesn’t get better than that and it’s totally legal
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Joined: Jul 2011
Posts: 37,674
Freak of Nature
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Freak of Nature
Joined: Jul 2011
Posts: 37,674 |
I didn't get started saving for retirement until what would be considered late in life at the age of 35. This was due to basicly having crappy low paying jobs. I am well above the average for my age at this point but it does require you to do without stuff you would like to have and could afford. I would say most people don't save due to low paying jobs. For the people that make above average wages (the average wage in Bham is around 48k a year) and are not saving for retirement they just don't want to make the sacrifices nessacary to do so. You are correct , Sir. It's the low pay . "Investment specialists" spout max out your 401 , sock a bunch in a roth while you're at it. That's easy when you make big $. Most folks don't make big $, especially young folks. define "big money". Roth IRAs are the best investment options available for almost any income bracket. what would big money be for a 25 year old male without a college degree. (assuming high school graduate) For your 25 high school grad , maybe 35- 40ish. Just getting started with a car and rent or house payment , taxes, monthly bills , most young folks just don't have a lot to spare. They certainly don't have enough to "max out".
"Why do you ask"?
Always vote the slowest path to socialism.
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Joined: Jul 2017
Posts: 591
4 point
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4 point
Joined: Jul 2017
Posts: 591 |
I didn't get started saving for retirement until what would be considered late in life at the age of 35. This was due to basicly having crappy low paying jobs. I am well above the average for my age at this point but it does require you to do without stuff you would like to have and could afford. I would say most people don't save due to low paying jobs. For the people that make above average wages (the average wage in Bham is around 48k a year) and are not saving for retirement they just don't want to make the sacrifices nessacary to do so. You are correct , Sir. It's the low pay . "Investment specialists" spout max out your 401 , sock a bunch in a roth while you're at it. That's easy when you make big $. Most folks don't make big $, especially young folks. define "big money". Roth IRAs are the best investment options available for almost any income bracket. what would big money be for a 25 year old male without a college degree. (assuming high school graduate) For your 25 high school grad , maybe 35- 40ish. Just getting started with a car and rent or house payment , taxes, monthly bills , most young folks just don't have a lot to spare. Disagree, I started immediately. If you never see that income and always budget without it it’s possible. Believe me it sucked and my wife and I had months of sitting at home and cooking dinner instead of eating out but it’s worth it.
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Joined: Jun 2015
Posts: 14,393
Booner
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Booner
Joined: Jun 2015
Posts: 14,393 |
The damn REIT I want to buy this year keeps going up and is closing back in on it's 52 week high 
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Joined: Jan 2011
Posts: 10,007
Booner
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Booner
Joined: Jan 2011
Posts: 10,007 |
Like others have said, start strong early and increase every year until you Max out. I am ready for 59.5 to get here to at least play with it a little. I think those numbers may be a little low and just makes me more proud for what I have earned.
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Joined: Jul 2015
Posts: 1,900
8 point
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8 point
Joined: Jul 2015
Posts: 1,900 |
Any business owners in here? No mention of SEP, SIMPLE, or solo K’s. Also no mention of self directed IRA’s where you decide what to invest in, not Merrill Lynch. There are a few other things... But I won’t bore you.
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Joined: Sep 2003
Posts: 13,231
Booner
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Booner
Joined: Sep 2003
Posts: 13,231 |
Pretty sad looking at those numbers. What that tells me is I'll be paying for a lot of these entitled dipchits for the rest of my life
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Joined: Sep 2015
Posts: 367
4 point
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4 point
Joined: Sep 2015
Posts: 367 |
Those numbers were very surprising to me. Makes me want to thank my parents even more.
Last edited by Ruger7mag; 01/31/19 10:39 PM.
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Joined: May 2015
Posts: 6,363
12 point
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12 point
Joined: May 2015
Posts: 6,363 |
Any business owners in here? No mention of SEP, SIMPLE, or solo K’s. Also no mention of self directed IRA’s where you decide what to invest in, not Merrill Lynch. There are a few other things... But I won’t bore you. Yeah, I'm not sure what all those numbers mean. I know a bunch of folks who invest outside of their 401K. It's not a complete picture of retirement.
Public Land Owner
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Joined: Mar 2010
Posts: 7,978
14 point
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14 point
Joined: Mar 2010
Posts: 7,978 |
Pretty sad looking at those numbers. What that tells me is I'll be paying for a lot of these entitled dipchits for the rest of my life That's exactly what I'm afraid of!
Adopt the pace of nature, her secret is patience. Emerson
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Joined: Jun 2015
Posts: 14,393
Booner
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Booner
Joined: Jun 2015
Posts: 14,393 |
Pretty sad looking at those numbers. What that tells me is I'll be paying for a lot of these entitled dipchits for the rest of my life That's exactly what I'm afraid of! There's going to be A LOT of boomers eating catfood in their glory years. https://www.investopedia.com/articl...are-we-baby-boomer-retirement-crisis.asp
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Joined: Jul 2005
Posts: 10,127
Booner
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Booner
Joined: Jul 2005
Posts: 10,127 |
I know a lot of people I work with that have really good incomes that aren’t putting anything in their retirement. They have $200k in student loans, $400-600k in houses, $100k in car payments, take frequent expensive vacations, buy tons of toys like atvs/sxs, boats, jet skis, etc... I’m getting to the point where I’ve been hammering away at my retirement and I don’t really care about it anymore. I’d rather have fun playing now while I’m young enough and healthy enough to enjoy doing the things I really want to do.
If you want to always win, never play anyone better than you!
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Joined: Jul 2015
Posts: 1,900
8 point
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8 point
Joined: Jul 2015
Posts: 1,900 |
Any business owners in here? No mention of SEP, SIMPLE, or solo K’s. Also no mention of self directed IRA’s where you decide what to invest in, not Merrill Lynch. There are a few other things... But I won’t bore you. Yeah, I'm not sure what all those numbers mean. I know a bunch of folks who invest outside of their 401K. It's not a complete picture of retirement. Correct. You must have many facets in your portfolio. Real estate, stocks, bonds, gold, businesses, etc.
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Joined: Sep 2007
Posts: 3,190
10 point
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10 point
Joined: Sep 2007
Posts: 3,190 |
I know a lot of people I work with that have really good incomes that aren’t putting anything in their retirement. They have $200k in student loans, $400-600k in houses, $100k in car payments, take frequent expensive vacations, buy tons of toys like atvs/sxs, boats, jet skis, etc... I’m getting to the point where I’ve been hammering away at my retirement and I don’t really care about it anymore. I’d rather have fun playing now while I’m young enough and healthy enough to enjoy doing the things I really want to do. I believe most Americans live this way. Their income dictates how much they can blow. Time is valuable to me, I’m saving now to afford as much time as I can buy.
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Joined: Jun 2015
Posts: 14,393
Booner
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Booner
Joined: Jun 2015
Posts: 14,393 |
I know a lot of people I work with that have really good incomes that aren’t putting anything in their retirement. They have $200k in student loans, $400-600k in houses, $100k in car payments, take frequent expensive vacations, buy tons of toys like atvs/sxs, boats, jet skis, etc... I’m getting to the point where I’ve been hammering away at my retirement and I don’t really care about it anymore. I’d rather have fun playing now while I’m young enough and healthy enough to enjoy doing the things I really want to do. I believe most Americans live this way. Their income dictates how much they can blow. Time is valuable to me, I’m saving now to afford as much time as I can buy. The Hedonic Treadmill is very real.
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Joined: Jul 2017
Posts: 591
4 point
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4 point
Joined: Jul 2017
Posts: 591 |
True wealth is not owning anyone anything
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Joined: Sep 2003
Posts: 13,231
Booner
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Booner
Joined: Sep 2003
Posts: 13,231 |
I know a lot of people I work with that have really good incomes that aren’t putting anything in their retirement. They have $200k in student loans, $400-600k in houses, $100k in car payments, take frequent expensive vacations, buy tons of toys like atvs/sxs, boats, jet skis, etc... I’m getting to the point where I’ve been hammering away at my retirement and I don’t really care about it anymore. I’d rather have fun playing now while I’m young enough and healthy enough to enjoy doing the things I really want to do. That's the modern day mentality. YOLO. To hell with your family name and kids future. Sad state of affairs we live in these days.
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Joined: Feb 2017
Posts: 1,680
8 point
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8 point
Joined: Feb 2017
Posts: 1,680 |
I know a lot of people I work with that have really good incomes that aren’t putting anything in their retirement. They have $200k in student loans, $400-600k in houses, $100k in car payments, take frequent expensive vacations, buy tons of toys like atvs/sxs, boats, jet skis, etc... I’m getting to the point where I’ve been hammering away at my retirement and I don’t really care about it anymore. I’d rather have fun playing now while I’m young enough and healthy enough to enjoy doing the things I really want to do. You only live once and never guaranteed tomorrow. Save now, die tomorrow and never reap the benefits of anything you saved. Tough choice and everyone must make it their own.
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Joined: Nov 2008
Posts: 10,667
Booner
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Booner
Joined: Nov 2008
Posts: 10,667 |
Hell, I just bought life insurance.
My luck, I’d have a big retirement planned out, and get hit by a bus. Then, all my loved ones would be like “so sad, he had all this money but never spent it. What a shame.”
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Joined: Sep 2007
Posts: 3,190
10 point
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10 point
Joined: Sep 2007
Posts: 3,190 |
Hell, I just bought life insurance.
My luck, I’d have a big retirement planned out, and get hit by a bus. Then, all my loved ones would be like “so sad, he had all this money but never spent it. What a shame.” Is that what life is about?
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