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What if you know you will never be able to retire?
02-18-2013, 03:16 AM
Is it even worth contributing to a 401K, IRA, or ROTH IRA? Should saving money beyond an emergency fund be a priority in a single man's life?
You're told from a young age to plan for retirement. Sacrifice now so you can live in comfort in your old age, we're told. What's so appealing about comfort when your body is broken down? And, in turn, what's appealing about frugality when you're young and all of life is there to explore?
Where did the idea come from that we must amass a life savings?
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What if you know you will never be able to retire?
02-18-2013, 04:20 AM
Well I suppose one option would be to do what most people have done since the dawn of time, have kids.
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What if you know you will never be able to retire?
02-18-2013, 04:20 AM
Which is more miserable, a less-than-extravagant youth or a destitute old age?
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What if you know you will never be able to retire?
02-18-2013, 04:28 AM
It's like being in the middle of the Human Centipad and being asked whether they'd prefer the cuttlefish and asparagus or the vanilla paste.
In the end, it's still shit.
Yeah, I made a south park reference.
“I have a very simple rule when it comes to management: hire the best people from your competitors, pay them more than they were earning, and give them bonuses and incentives based on their performance. That’s how you build a first-class operation.”
― Donald J. Trump
If you want some PDF's on bodyweight exercise with little to no equipment, send me a PM and I'll get back to you as soon as possible.
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What if you know you will never be able to retire?
02-18-2013, 04:36 AM
Where I live in Eastern Europe most old folks have really shitty retirement money. Barely enough to pay the bills and eat, sometimes not enough, most old people cannot afford all the medicine they need. Why?
Because after the fall of soviet union the taxes they paid before didn't count as they were paid to a country that doesn't exist anymore. So all the work they did in Soviet times does not count and those people who retired short after it's fall are receiving money as if they had worked and paid taxes only for a few years of they life
I am not sure that when retirement becomes an option for me after some 30 - 40 years my country will exist. In these times of decline I wouldn't even be sure that USA will exist after that time. Well something will exist in it's place but will it be the same country?
So naturally I don't trust retirement plans.
Also when you are so old that you cannot work you also won't be able to enjoy all the benefits of your endless leasure.
Naturally the mans best investment for future would be children who would support him in his old age. But alas modern lifestyle makes children so expensive and risky (because women can take them away) that it is not so simple any more.
Therefore two most useful things to do are:
1. Save for your future
2. Do not overwork yourself at expense of health and train the body to keep your fitness high enough to slow aging and to be able to keep enjoying life (and keep working if necessary) as long as possible.
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What if you know you will never be able to retire?
02-18-2013, 05:34 AM
Quote: (02-18-2013 03:16 AM)cool Wrote:
Is it even worth contributing to a 401K, IRA, or ROTH IRA? Should saving money beyond an emergency fund be a priority in a single man's life?
You're told from a young age to plan for retirement. Sacrifice now so you can live in comfort in your old age, we're told. What's so appealing about comfort when your body is broken down? And, in turn, what's appealing about frugality when you're young and all of life is there to explore?
Where did the idea come from that we must amass a life savings?
Well, I suppose the point is to avoid compounding the miseries of old age by adding the miseries of poverty. And it is a common hamsterization to think that exploring life=being unemployed or engaging in frivolous spending.
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What if you know you will never be able to retire?
02-19-2013, 02:39 AM
Thanks for the book recommendation. That's next on my list.
“I have a very simple rule when it comes to management: hire the best people from your competitors, pay them more than they were earning, and give them bonuses and incentives based on their performance. That’s how you build a first-class operation.”
― Donald J. Trump
If you want some PDF's on bodyweight exercise with little to no equipment, send me a PM and I'll get back to you as soon as possible.
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What if you know you will never be able to retire?
02-19-2013, 09:07 AM
Conventional retirement is retarded.
Basically anyone who has been in the game for a decent amount of time knows their looks are 40x more powerful than their money. So you want to maximize your looks and the worst thing your body can do is be under high stress (worried about bills, unhealthy diet etc).
So what's the solution? Grind out your twenties stacking fast and then when your body is weakening in your 30's you slow it all down and reap rewards, because a guy isn't all that attractive till he's in his 30's anyway. Just do the minimum to keep your sex life up to par in your 20's.
That's basically the blueprint I live by. Also what Vancier is saying, you just leave to a lower cost of living place in the future. If you can bang chicks in the USA off a simple apartment, by leaving that apartment becomes a "nice apartment" and all your expenses come down while quality goes up because you're not living in NYC/other major anymore.
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What if you know you will never be able to retire?
02-19-2013, 12:47 PM
Our modern idea of retirement is a total historical anomaly. It has only existed for a few decades. Through history, most people never retired. They worked until they were physically unable to continue working, then they moved in with their children and made themselves as useful as possible around the house until they died.
The idea of slowly accumulating and investing money over a 30-40 year period and then living off the interest/dividends is not a bad one, it's just not as foolproof as people think. It makes a lot of assumptions which don't always happen in the real world. The main thing is that it requires a great deal of financial and market stability, and relatively low inflation. That has been the environment for the past few decades, but the future looks much more uncertain.
You could work for 30 years, living frugally and investing your money carefully, only to have your entire nest egg wiped out by hyperinflation or a market collapse. You would have lived your entire life for a day that would never come. The emotional toll that would take would be devastating. Many men have killed themselves when faced with that kind of spectacular loss.
I think it's important to remember that life is lived one day at a time, and that day is always today. Don't become so focused on a future that may never arrive that you fail to enjoy the present, because ultimately that's all you will ever have.
[size=8pt]"For I reckon that the sufferings of this present time are not worthy to be compared with the glory which shall be revealed in us.”[/size] [size=7pt] - Romans 8:18[/size]
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What if you know you will never be able to retire?
02-19-2013, 05:01 PM
I have it decided. When I get older and reach all my goals and do everything that I want in life, I'll resubscribe to World of Warcraft.
Because why the hell not.
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What if you know you will never be able to retire?
02-19-2013, 08:17 PM
I'll be one of those wise old fishermen on a tropical isle. One that does psychedelic drugs all day.
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What if you know you will never be able to retire?
02-19-2013, 11:08 PM
the biggest expense at least in the US for the elderly is medical costs. it seems like common sense but rather than having to save hundreds of thousands for future medical expenses just eat healthy and exercise frequently and your healthcare would go down significantly.
Game/red pill article links
"Chicks dig power, men dig beauty, eggs are expensive, sperm is cheap, men are expendable, women are perishable." - Heartiste
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What if you know you will never be able to retire?
02-20-2013, 08:20 AM
Don't worry about not being able to retire at 65 or whatever.
Enjoy your life now, spend all you fucking money you have!!!. If you want to retire at 65 then move to a country where you can buy a house for $50k, then live off the land
I'm going to enjoy myself now while I have an operational penis thank you very much
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What if you know you will never be able to retire?
02-20-2013, 09:00 AM
There is some seriously shitty advice on this thread.
Everyone should re-read nmmooreland's comment three times.
In your twenties and low thirties you are so amped up on energy you can both make money and have a solid sex life.
Hyperinflation is a zero issue. A 50% cut in the equities market is a zero issue. A 50% cut in the bond market is also a... Zero issue. The absurdity of fear in investing is insane, these hyperbolic beliefs pretty much mean the following: "businesses are doomed to fail over the next 50 years". The examples are shit because if you saved up a mad stack, you can wait out the 50% decline so those examples are straight awful. If you were "in between" you're fucked because you can't wait it out and tap into principal heavily.
Most of the fear comes from people who are paying interest on shit from credit cards to house payments... That's exactly why you shouldn't worry about a thing. A cash based country is really where you see a complete disaster (Argentina).
If the S&P gets cut by 70% and stays there for 10 years, I'll see all of you at the gun shop because you're not going to be worried about getting your dick wet any time soon.