I've helped a few GenXers get an IRA (or other tradfi retirements) setup for the first time in their lives in their late 40s... But I'm like hey, you can only put like 7-8k/yr into it, so even if you max it out that's only 120k of deposits by the time your retire... You'll be lucky if you can supplement your healthcare with that, or maybe buy groceries. Some just assume (or hope :( ) they'll die before it becomes a problem or that they don't plan to retire. And I'm like wtf. I don't think that's going to work the way you want it to...

Replies (1)

Yeah, "die young" is the standard retirement plan for everyone under 50. ๐Ÿ˜‚ I'm also betting that I don't make it a day past 65, otherwise I'm screwed. That's also why so many younger people don't want to work full-time and are so lethargic. They know that they will have to work until they die, so it's like, why work hard? I've got another 60-70 years of work ahead of me and I can't save up and buy anything good, anyway. What's the rush? Besides, AI will do all of the work and the rich people will get all of the money from that and the rest of us can just chillax and HFSP.
โ†‘