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The Best Piece Of Advice

Discussion in 'Non-Vegas Chat' started by VegasGroove, Nov 21, 2019.

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  1. bull1029

    bull1029 Mr. Vegas

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    An elderly, long-married gentleman laid this pearl on me when I was just a lad: "Marriage is like taking a bath. Once you get used to it, it ain't so hot." His wife promptly smacked him, but I'm still smiling at that.
     
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  2. Iratus

    Iratus Low-Roller

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    Put as much money as you can in your retirement fund.

    I’ll almost certainly have more money as a retiree than I do now. If I’d followed the advice earlier and been less dumb in my twenties, with ignoring employer contributions, I’d have had an extra $600k as well, and that’s before I’m 40

    Do it, do it, do it.
     
    Last edited: Nov 27, 2019
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  3. oghuman

    oghuman VIP Whale

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    I agree, I've been retired for 11 years - actually they retired me - laid me off during 2008 financial crisis. I never found a job I liked for the money I wanted.
    I socked away the max since 401Ks started, plus I had retirement account which I combined into one IRA. I've been taking out money out since 2010 and I have more money now than I ever had before because of my saving and investing.
    I'd have even more if I didn't go to casinos. LOL
     
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  4. The Rumor

    The Rumor VIP Whale

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    Other people's perception is their reality
     
  5. dmr

    dmr Registered Abuser

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    That's rule number 1.

    Rule number 2 is: DON'T TOUCH IT!
     
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  6. Iratus

    Iratus Low-Roller

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    That’s awesome, and how it should be. I feel so sad for people that are forced to work jobs they don’t like in later life because they have no choice. Having the security to just do something you enjoy is a powerful thing for happiness.

    One of the best things Australia did was to make it compulsory to have 9.5% of your income go towards retirement. It does sting a bit but you get used to it, and by the time it comes for people that have done it for a long time it puts them in a good position, and massively reduces the burden on the state.

    Living in retirement for 25-30 years is gonna be the norm and we have to pay for those vegas trips somehow :)

    In my twenties though my company defined contribution was up to 10% matching of my own. Pre tax. I did nowhere close. I’m such a fucking idiot
     
  7. oghuman

    oghuman VIP Whale

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    Yes - You are so correct!

    You can see my post above, but I took a loan out on my 401K for $20K in 2002 to buy something. It just so happened that my company outsourced my division in 2003 and I had to pay all of it back because I no longer worked there. I ended up cashing in $20,000 worth of savings bonds to pay it back. That cost me additional money on taxes on the interest. Never would I have imagined that I would be outsourced!
     
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