• kambusha@sh.itjust.works
    1619·
    2 months ago

    Save & invest 50% of your paycheck for 10 years, and you could technically retire (as long as your cost base does not go up).

      • eldavi@lemmy.ml
        141·
        2 months ago

        i like these threads; it shows how disconnected from reality some of us are.

    • slazer2au@lemmy.worldEnglish
      264·
      2 months ago

      as long as your cost base does not go up

      Inflation and greedflation would like a word.

    • Broken@lemmy.ml
      13·
      2 months ago

      You can, if you can. I think most people can’t do that though.

      The better lesson would be to teach compound interest. Somebody that invests $2k every year for 10 years and then stops will have more money than somebody who starts in year 11 and does so for the rest of their life.

      • kambusha@sh.itjust.works
        5·
        2 months ago

        That’s sort of the point I was trying to make with an example, but it appears it fell flat. Compound interest and resisting lifestyle inflation, can really help people in the long-run.

    • corsicanguppy@lemmy.caEnglish
      142·
      2 months ago

      Save & invest 50% of your paycheck

      So, we eat cake, then? Tell us again how to isolate that 50% when so many people are food-insecure at 0% saved.

      • kambusha@sh.itjust.works
        32·
        2 months ago

        Doesn’t have to be 50%, that’s merely an example to illustrate the power of compounding & resisting lifestyle creep. If you take anything away, it’s to try to save & invest what you can, as young as you can, and to resist the urge to “keep up with the Joneses”. That will put you in a much healthier financial position. I don’t know your situation, and you don’t know mine.