Reply to PSA: Save early

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][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]

THIS^^^ 
When you are young and just out of college, it's not hard to continue living "like a poor grad student/college student".  If people  do that and start saving, you will change your life for the better.  Not hard to live in a basic apartment and continue to drive your old car.  [/quote]

This is what I did right after college, shared house with 5 people, old car. With my first job I maxed out the 401k from day 1. I also just got laid off at 53. I have $2 million in my 401k and have decided I will retire. [/quote]

Sorry about the layoff, pp, but you may want to try something else. You do realize that you can’t withdraw from your 401k without a 10% penalty until you’re 59 1/2, right? [/quote]

There are ways to get out the money before then without penalty, particularly in OPs situation, the SEPP approach may make sense.

https://institutional.fidelity.com/app/item/RD_13569_15965/understanding-72t-and-sepp.html[/quote]

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