If you could...
- Thread starter ViciousJay
- Start date
When I graduated college and started a good job paying enough to support myself AND make car payments my old man said, "Son, You need to save 10% of everything you earn."
So I did.
I'm 63 now. It wasn't enough. So, to you young lads, generally speaking, sock that dough away. Pay yourself first.
I've got my plan worked out and am comfortably retired while still paying $60K a year for two offspring in college, but only because I was fortuitous enough to marry well, and didn't even know it at the time when I tied the knot. It's a long story, *TL,DR* and won't burden you with it, but you need to be socking that dough away.
So I did.
I'm 63 now. It wasn't enough. So, to you young lads, generally speaking, sock that dough away. Pay yourself first.
I've got my plan worked out and am comfortably retired while still paying $60K a year for two offspring in college, but only because I was fortuitous enough to marry well, and didn't even know it at the time when I tied the knot. It's a long story, *TL,DR* and won't burden you with it, but you need to be socking that dough away.
Unfortunately because of family issues Ive been on my own since 17 and am late to the game. I had to survive and retirement was a long way down the road. Wife will retire with full state of Texas retirement and Im busy trying to get my shit together to get a taste of the pie
No real regrets about doing what i had to do to survive besides not being able to bang that girl @OETKB. Just honest resentment for being burned up by being tossed to the wolves with no knowledge how to survive
Based on your posts here alone and I'd say you turned out a hell of a lot better than many faced with the same. You'll do fine.
Anything that I (or anyone else) can recommend here will only change your life incrementally.
The one part I failed to mention was getting on speaking terms with my Maker at age 31. I should have done that a whole lot sooner.
Same here.
Throw coke and alcohol in the mix. It was a delight around that age.
At least you married up haha
Spent a lot of time praying to get by. It was a hell of a shock for dang sure. I just posted that info because i want people
to know the clarity of my earlier post. Honestly having to have multiple recruiters and members of the church having to take time out their day to speak on your behalf so you dont do jail time was a wake up call for me. The Navy was a turning point in my life
My coke was in with my rum while i was drinking myself stupid. I ****ed up plenty while married.
Im the type that will never fully retire. I may slow down. But will never fully retire. I have always worked jobs at a time. Owned and operated smal businesses.
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not necessarily better. but certainly different. As I look back at my life there are only one or two things I would do any different even knowing what I know now. One of them is sticking out that last 6 years in DC even tho I hated the place. Had I not married my ex I would not have had my daughter and she is amazing so I probably would still marry her mom but some of the pre wedding conversations would have been different. Most of the decisions I have made throughout my life at the time and under the circumstances that existed were the right ones and thus I don't regret them, because as I look at my circumstances and my life at this point I am, for the most part healthy, financially sound, and content. and it is the decisions I have made that have put me here.
That’s the thing I wouldn’t change. I don’t drink, smoke, or cheat.
Motorsports is my way out. Kids love it too.
Thanks.
Where was I wrong in my comments?
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I was never taught how to be financially responsible. My parents spent every dime they had on frivolous stuff.
I was taught about savings, IRAs, and other investments by my wife's family. I was an entrepreneur at an early age, and I put away as much money as I thought was needed. I never had a significant personal savings, but I did own multiple IRAs, a few CDs, and a few personal investments. I made a good living, and I was able to put away a significant amount of money.
In 2008 I lost a lot. I made some changes, and I left some accounts alone. No one had a clear answer to what would be best in regard to investing. My biggest mistake is that I was only putting a small amount into my investments.
My dad was diagnosed with cirrhosis. I took a break from my own career and tried to keep his shop of 40 years alive. I was too stupid and blind to see that I was feeding an addict, and being taken advantage of. I spent nearly all I had with the idea that I could easily make it back.
That is the short story. There are a lot of things I would change if I could. If I knew then what I know now I would have made a lot of choices that would better benefit my wife and children.
I have no idea why my wife stays by my side, but she does. Everyday is a struggle, and I blame no one except myself for my own choices.
The only positive I find in my situation comes from the lessons I am able to pass onto others.
Sure, I am a music producer, engineer, and songwriter. I counsel, teach, and preach when allowed. I may be financially successful again at some point, but I am a long way off. I have learned a lot, and have been humbled. I love the opportunity to help others, but I wish my own choices were not the education in which I gained the passion and love that drives me. However, I understand many people's problems because I have walked the same road, and am still on it.
Oh the things I would change if I could.
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First thing that comes to mind: I’d prevent my cousin from drowning in her hot tub due to a seizure at 19 years old. The loss of her still hurts the family to this day and I don’t think it’ll ever heal.
Second, I’d want to have my life change much much earlier. The POS I became destroyed the vast majority of my friendships to the point of unrepairable. I still haven’t worked up the nerve to ask for forgiveness. Quite frankly I still don’t think I deserve it, and probably never will. Lying will ruin your life.
Third, I’d make the doctors revisit the cause of my illness again when the first time it almost killed me. Then maybe the 8 years I lost from it would be just a few months. Though it’s been a decade now; now I’m dealing with the situation of the body is well but the mind still thinks the body is sick.
Fourth, I’d try a different approach or confess my feelings to the girl I cared deeply for at better time. I manage to ruin it when I told her how much she meant to me; after she broke up with her boyfriend. Who they were talking about marriage often. I believe I would’ve been very happy with her. She’s married now so that ship has sailed.
Pick your poison.
Second, I’d want to have my life change much much earlier. The POS I became destroyed the vast majority of my friendships to the point of unrepairable. I still haven’t worked up the nerve to ask for forgiveness. Quite frankly I still don’t think I deserve it, and probably never will. Lying will ruin your life.
Third, I’d make the doctors revisit the cause of my illness again when the first time it almost killed me. Then maybe the 8 years I lost from it would be just a few months. Though it’s been a decade now; now I’m dealing with the situation of the body is well but the mind still thinks the body is sick.
Fourth, I’d try a different approach or confess my feelings to the girl I cared deeply for at better time. I manage to ruin it when I told her how much she meant to me; after she broke up with her boyfriend. Who they were talking about marriage often. I believe I would’ve been very happy with her. She’s married now so that ship has sailed.
Pick your poison.
I'd be kinder to folks.
Took me till my early 20's to realize the value of the people that were good to me, and the value of people who weren't. But I'd also walk away earlier from a few friendships that I'd deem wasteful/toxic.
I have 3 or 4 pretty painful memories from post college. Moving alone to a new city, moving back to my home town, and up to before I started with the company i'm with now. It was a rather rise and fall scenario during that time.
But if I changed any of it, I wouldn't be where I am today with the wife I have. I'm 100% sure of that.
So really, just a be kinder, more open, more understanding person. Be healthier, drink less, put stock in relations with good people and not beer/cars/bar fly women.
Took me till my early 20's to realize the value of the people that were good to me, and the value of people who weren't. But I'd also walk away earlier from a few friendships that I'd deem wasteful/toxic.
I have 3 or 4 pretty painful memories from post college. Moving alone to a new city, moving back to my home town, and up to before I started with the company i'm with now. It was a rather rise and fall scenario during that time.
But if I changed any of it, I wouldn't be where I am today with the wife I have. I'm 100% sure of that.
So really, just a be kinder, more open, more understanding person. Be healthier, drink less, put stock in relations with good people and not beer/cars/bar fly women.
I've definitely screwed up plenty of times so far in my life that I often wish I could reverse. Some of them I actually learned from and changed my views and others I just repress and will likely repeat the mistake($ car $ modding $). But there are things I wouldn't redo cause that path led me to the life I have now.
My father is the same way. The day he retires is the day he dies.
Works cause he enjoys what he does and well it allows him to live his life the way he wants. I think it's good for him to cause it keeps his brain working and computing etc.
My father is the same way. The day he retires is the day he dies.
Works cause he enjoys what he does and well it allows him to live his life the way he wants. I think it's good for him to cause it keeps his brain working and computing etc.
Solid advice. Saving isn't just about putting money in 401(k). I'm a little disappointed with myself for not having more in 401(k) by now, but I have a good chunk in equity, liquid assets, and checking/savings. It's a combination of everything, though true investments are obviously going to gain value more than the latter.
Finances are so emotionally driven, what's logical isn't often what's followed.
I think we've all made decision(s) with that thought in mind.
In 2011, I met a millionaire who gave me the following advice: "If you lose a penny, that penny is lost for good. You can make a billion more, but the one you lost is never coming back."
That can be interpreted all different ways, but the context was basically that you only have so many working years. You only have so much income. It feels like income is endless because it's in the future, but the paychecks end one day, one way or another... Unless your money is making money faster than you're spending it.
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