Anonymous
03/12/2017 23:26
Subject: How many ppl do you know age 30+ foregoing savings, 401k?
Anonymous wrote:We are in our early 40s and way behind on retirement (about 40k in a 401k and no pension to rely on) and college savings. Jobs that didn't 401k match in our 20s, 100k in student loans to pay off, a year of unemployment when it was really hard to find another job (2008), a medically fragile child with really expensive health and therapy needs that keeps one of us out of the workforce and a HHI hovering in the 150s range. Seems like we should be able to save more but there's always something. We don't live a lavish lifestyle.
You're the average family. It's not too late to catch up. I'd forgo college savings altogether though.
Anonymous
03/11/2017 16:09
Subject: How many ppl do you know age 30+ foregoing savings, 401k?
The only people I know like this bought too much house, plain and simple.
Anonymous
03/09/2017 18:54
Subject: Re:How many ppl do you know age 30+ foregoing savings, 401k?
Anonymous wrote:I know a lot of people in their early 30s who don't prioritize savings. They probably put away 4-5% of their income, and figure it's better than zero. They pay more than they should for housing, take lots of vacations, eat out constantly, just generally spend a lot. Doesn't make sense to me, but hey.
This.
Anonymous
03/09/2017 18:28
Subject: How many ppl do you know age 30+ foregoing savings, 401k?
Anonymous wrote:
I would hazard a guess that the people who don't save a little something right away are the people who have had curve-balls thrown their way - you say that's not the case, but you don't really know, do you? They might not want to share that with you. Some curve-balls involve very personal details.
Then you also get a few overly self-assured types who are paid so well they don't feel they need a 401K.
Yes to this. Got married young, and the divorce wrecked any financial plans I might've had for 4-5 years. Finally remarried a wonderful woman, had kids and started the process of trying to make up for the savings years I lost. Life can get in the way of the best-laid plans.
Anonymous
03/09/2017 09:52
Subject: Re:How many ppl do you know age 30+ foregoing savings, 401k?
I know a lot of people in their early 30s who don't prioritize savings. They probably put away 4-5% of their income, and figure it's better than zero. They pay more than they should for housing, take lots of vacations, eat out constantly, just generally spend a lot. Doesn't make sense to me, but hey.
Anonymous
03/07/2017 14:49
Subject: How many ppl do you know age 30+ foregoing savings, 401k?
Anonymous wrote:We are in our early 40s and way behind on retirement (about 40k in a 401k and no pension to rely on) and college savings. Jobs that didn't 401k match in our 20s, 100k in student loans to pay off, a year of unemployment when it was really hard to find another job (2008), a medically fragile child with really expensive health and therapy needs that keeps one of us out of the workforce and a HHI hovering in the 150s range. Seems like we should be able to save more but there's always something. We don't live a lavish lifestyle.
I think there's a big difference between people that had rough years and weren't able to save as much, and people who've always been doing relatively well and just squandered it all. The biglaw partners mentioned above really should have no problem maxing our retirement, saving for college, and remaining debt free (other than a mortgage).
Anonymous
03/06/2017 09:42
Subject: How many ppl do you know age 30+ foregoing savings, 401k?
We are in our early 40s and way behind on retirement (about 40k in a 401k and no pension to rely on) and college savings. Jobs that didn't 401k match in our 20s, 100k in student loans to pay off, a year of unemployment when it was really hard to find another job (2008), a medically fragile child with really expensive health and therapy needs that keeps one of us out of the workforce and a HHI hovering in the 150s range. Seems like we should be able to save more but there's always something. We don't live a lavish lifestyle.