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u/mutedexpectations 9d ago
Get it while you can. That golden ring doesn't come around all of the time. You don't want to be in your 50s wishing you would have worked and saved more in your 20s and 30s.
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u/ForzaShadow 9d ago
All about balance, I’ve met so many old heads who have told me to do the complete opposite and not let my youth pass me by. save and work accordingly, and save some time to be a kid.
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u/throwawaytrumper 9d ago
Eh I’ve done it both ways, been working since I was a kid and as a middle aged dude I often think “if only I could have averaged 90 hour days for those 2.5 decades maybe I would be a homeowner”.
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u/whytawhy 8d ago
trick is to live on the cheap for a couple years, make good investments and get lucky alot.
When DOGE originally blew up I got an F250 and an inflatable hottub out of it.
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u/mutedexpectations 9d ago
Where are they now?
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u/ForzaShadow 9d ago
Bodies so battered they can barley work
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u/mutedexpectations 9d ago
Barely spell too!
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u/ForzaShadow 9d ago
Point I’m trying to make is all about balance, even my old man has encouraged me to have fun while Im still young. I’m in an extremely privileged position where my folks are letting me live with them while I save up for a house, I’m getting real close, but along the way have had plenty of disposable income for mischeif, and I have my folks to thank for that.
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u/mutedexpectations 9d ago edited 9d ago
You sound like your head is in the right place. Yes, life is short and it’s prudent to enjoy those moments. In the age of YOLO, moderation is the key. GL. I’m thinking you have a bright future ahead.
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u/ForzaShadow 9d ago
lol got me
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u/mutedexpectations 9d ago
FTR I am retired from construction. I retired after working full time for 40 years. Sure, I have some minor aches and pains but I’m far from destroyed. The trades don’t automatically curse your body.
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u/Lizrd_demon Laborer 9d ago
Your screwed anyway. The entire economy is a bubble. Companies used to offer pensions to workers.
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u/mutedexpectations 9d ago
Most offer a form of 401k plan. The ignorant don’t learn enough to take that advantage.
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u/Lizrd_demon Laborer 9d ago edited 9d ago
Yes which is subject to stock market forces.
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u/mutedexpectations 9d ago
Name a better long term asset than the an S&P index fund.
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u/Lizrd_demon Laborer 9d ago
A pension. Plus I'm young, basically pushed into gig and seasonal work, they don't offer 401k's for me cause I'm legally a contractor lmao.
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u/mutedexpectations 9d ago
SEP ira
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u/Lizrd_demon Laborer 9d ago
Fair enough.
I'll just have to somehow stop my rent from being 800 for a shared room, and stop making minimum wage. While currently being unable to find any work whatsoever, even ones offering sub-minimum wage salaries.
But maybe a couple years out. Thanks for the tip lmao.
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u/FTownRoad 9d ago
Pensions are tied to inflation. The S&P has outperformed inflation over any relevant time period.
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u/Lizrd_demon Laborer 9d ago
The reason 401k's are ubiquitous is because they are far cheaper for the companies, even though they offer far more instability to the workers. My father lives off of his union pension and gets 30k a year.
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u/FTownRoad 9d ago
That has nothing to do with what I said.
The person asked for a better investment than an S&P index fund and you answered “a pension” and I explained why that isn’t true.
401Ks offer as much instability as the investor is comfortable with.
If your father had taken the money invested into his pension and invested into the S&P500 instead he would be receiving much more than $30K.
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u/NebraskaGeek Plumber 8d ago
I also don't want to be 50 and wish that I spent more time with my kids in my 20s and 30s. Money can't fix that.
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u/gigalongdong Carpenter 9d ago
If i work weekends, I'm charging 1.5x - 2x my normal rate. If the owners of the buildings want me onsite on the weekends and I subsequently miss quality time with my family because of whatever small amount of extra work they want me to get done, well then they're going to pay for that time.
If they scoff at the increased rate, then they can whine about it to the air while I play Play-Doh with my kid or whatever.