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Reply to "PSA: Save early"
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[quote=Anonymous][quote=Anonymous]My biggest financial regret is that I didn’t start saving aggressively, or at all, when I got my first professional job right out of college. I was living with a bunch of roommates and going out for drinks every night, never could be bothered to make it to HR to open the 401(k) WITH A MATCH THAT I NEVER BOTHERED TO GET. When I finished my MBA I started saving, but that was in my late 20s and I missed out on all of that money from plus time compounding. Now I’m pushing 50 and I don’t want to calculate how much I lost but I think it’s probably a year or two of retiring earlier, and I wouldn’t have missed that cash at 22. Young people, be smarter than me.[/quote] I know someone who was living in NYC, paid pretty well, was partying a lot. They had massive credit card debt and student loans. At late 30s, they realized that they could not sustain this, so they moved to a lcol state. They had to "get away" from their party friends so that they could stop going out. I don't know what this person's financial situation is now, but having spoken to them recently, it does not appear that they are saving all that much for retirement.. still. They are now 50.[/quote]
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