In this video, I go on a rant about the importance of not saving too much for retirement. Find out why it's important to balance your savings and enjoy life now!
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Whew I can breathe easier now, but I rather enjoy saving and investing money.
How bout kids education accounts being funded?
Save to retire earlier. Thats why.
Because for so many years of not contributing into a Roth IRA until an inheritance in August 2020; I was finally able to fully fund a Roth IRA without touching it. When my company was purchased in March 2021 when my pay jumped. I choice to juice up my new Roth 401k. Now my Roth IRA/Roth 401k is about 15% of my net worth. After my summer vacation in August 2023. I throttled back my Roth 401k contributions to 8% of my paycheck. I still fully fund my Roth IRA with the dividends and stock sales with tax loss harvesting from the the inherited taxable brokerage account. Now my Roth IRA/Roth 401k contributions is 27% of my earned job income being in the 12% US federal tax bracket; I also am earning about $13,000 a year in dividends and interest from savings in taxable accounts.
This is amazing. Doing so much and making a great difference in your future retirement. I’m in my early 40s and finally having my debts addressed and behind me. Time to hit the throttle like you.
Thanks Dustin
43 yes old. Just over $2M invested. No debts except about 25k on the mortgage. Will retire at 55 or 5M, whichever comes first!
I rather have more than I need, than need more and not have enough.
Nothing wrong with that. Don’t forget to live your life though. By the time you retire you have lived 80% of it
I got my priorities screwed up and made it a goal to pay my house off first then start saving for retirement. Now I’m late in the game and need to save everything I can. But at least mi casa is payed for… 🤷♀
You’ve convinced me. I’ll stop saving so much and buy more guns. I don’t have any debts to pay off.
Are tradind and income incompatible? I think you’re not keeping up with the news. While you thought it was impossible, some enthusiasts from Eledator made ai copy trading tool. Everyone now can make money on trading. What do you say now?
I have listened to many other podcasts / videos on the same exact topic, so you are not unique in that aspect. Sorry.