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  • Re: retirement

    From Frank Reid #1@2.Wwivnet@11:1/101 to Utopian Galt #1 on Wed Apr 30 15:41:23 2025


    My situation is also depressing, but its better to start now than to not
    do anything at all. Having a small annuity to help buy 1 weeks worth of groceries a month is better than having nothing.

    Sorry for the late reply, but you're too young to despair! I served 20 years in the Navy and retired with a small pension that would never cover the bills for my still-growing family. I wasn't able to start contributing to a 401k until many years later (in my 50s). Those small contributions built over time, as did my salary, and I was later able to build additional investment accounts. I retired a couple years ago at 66 (my Social Security "full retirement age"), and life is very comfortable on just my military pension and my wife and my social security. We have not yet touched any retirement and investment accounts.

    I've undeniably been fortunate (and WWIV contributed greatly to that success), but I can state with certainty you have plenty of time in your 40s and 50s.

    Frank



    --- WWIVToss v.1.52
    * Origin: http://www.weather-station.org * Bel Air, MD -USA (11:1/101.0)
  • From Weatherman@11:1/101 to Frank Reid #1 on Tue May 13 19:51:42 2025

    I've undeniably been fortunate (and WWIV contributed greatly to that success), but I can state with certainty you have plenty of time in your 40s and 50s.

    100% agree. It is so much easier these days to invest and make money. Even just 10 years ago, the tools for the average people just didn't exist. Not to mention the fact that I should have been investing much earlier, life can throw you curve balls.

    Multiple divorces later where what you thought you had, 1/2 is gone and you have to start again. You can't control that, but sticking to the plan and never giving up is the key.

    Another thing is remember is the "snowball effect". Saving starts small, but as it grows, the snowball effect starts. Gains of 5% on much larger sums yield much larger sums. Making money work for you over years can result in annual gains that exceed your original salary.

    Don't give up and stick to the plan!

    - Mark

    :.: Weather Station BBS ú telnet://bbs.weather-station.org :.: :.: http://www.weather-station.org/bbs ú Bel Air, Maryland - USA :.:
    ÿÿÿÿÿÿ
    --- WWIVToss v.1.52
    * Origin: http://www.weather-station.org * Bel Air, MD -USA (11:1/101.0)
  • From Utopian Galt #1@815.Wwivnet@11:1/101 to Weatherman #1 on Tue May 13 21:46:09 2025


    Another thing is remember is the "snowball effect". Saving starts
    small, but as it grows, the snowball effect starts. Gains of 5% on much larger sums yield much larger sums. Making money work for you over years
    can result in annual gains that exceed your original salary.
    Im only at 9k on the 401k, I save like 11% of my wages, but I think I might increase that to 12.25% when i get my next wage jump.

    Don't give up and stick to the plan!
    Yeah, I have two pots my liquid savings and the retirement account. I also have a small pot of stocks too.

    My plan is to have a meager 420/mo supplement for my older years. (hopefully more)


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    --- WWIVToss v.1.52
    * Origin: http://www.weather-station.org * Bel Air, MD -USA (11:1/101.0)
  • From Jahmas #29@707.Wwivnet@11:1/101 to Weatherman #1 on Wed May 14 05:48:28 2025

    Multiple divorces later where what you thought you had, 1/2 is gone and
    you have to start again. You can't control that, but sticking to the
    plan and never giving up is the key.
    I had a psych patient tell me that, "Women's asses and whiskey glasses will make a fool out of you!" Best wisdom I ever heard. Hopefully you are in a better place now....


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    --- WWIVToss v.1.52
    * Origin: http://www.weather-station.org * Bel Air, MD -USA (11:1/101.0)
  • From Weatherman@11:1/101 to Utopian Galt #1 on Sun May 18 21:19:41 2025

    salary. Im only at 9k on the 401k, I save like 11% of my wages, but I think I might increase that to 12.25% when i get my next wage jump.

    As it grows, you will start to see the snowball effect. For instance - if S&P 500 goes up 15% in a year, that is $1350 gains on your holdings. Down the road as dollar cost averaging later, 15% on larger sums is larger sums.

    My plan is to have a meager 420/mo supplement for my older years. (hopefully more)

    Having a plan is good. You can always adjust the plan as needed.

    - Mark

    :.: Weather Station BBS ú telnet://bbs.weather-station.org :.: :.: http://www.weather-station.org/bbs ú Bel Air, Maryland - USA :.:
    p Æ"
    --- WWIVToss v.1.52
    * Origin: http://www.weather-station.org * Bel Air, MD -USA (11:1/101.0)
  • From Weatherman@11:1/101 to Jahmas #29 on Sun May 18 21:22:29 2025

    I had a psych patient tell me that, "Women's asses and whiskey glasses
    will make a fool out of you!" Best wisdom I ever heard. Hopefully you are
    in a better place now....

    Yes, for sure. No one wants to go through that stuff in life but sometimes it happens. And then another new and better chapter begins.

    - Mark

    :.: Weather Station BBS ú telnet://bbs.weather-station.org :.: :.: http://www.weather-station.org/bbs ú Bel Air, Maryland - USA :.:
    p Æ"
    --- WWIVToss v.1.52
    * Origin: http://www.weather-station.org * Bel Air, MD -USA (11:1/101.0)