• 0 Posts
  • 7 Comments
Joined 1 year ago
Cake day: July 5th, 2023
  • drexy_rexy@programming.devtoAsklemmy@lemmy.ml•Do you honestly see yourself ever retiring and how?
    51·
    7 days ago

    I started maxing my Roth Ira out when I was earning $10/hr. Avoid spending money on things that don’t literally matter and save for the things that do. Pay attention to where every single dollar/pound/Euro/shekel goes. Stay out of debt. Keep drug/alcohol use reasonable. Most of the time folks who are concerned about retiring/money have no idea how much they spend on what. Saving for retirement is easy once you start doing it and get used to it, but you need to start early and you need to invest in the stock market. Avoiding chronic illness or accidents or long periods where you aren’t earning income are probably necessary too. Staying out of legal trouble is probably necessary as well.

  • drexy_rexy@programming.devtoAsklemmy@lemmy.ml•What is the biggest lesson that employment has taught you?
    5·
    1 year ago

    This gets dangerous once you make semi decent money though. Like why would I take public transit that takes an hour to get there for $2.50, when I could just take a cab that costs $25 and only takes 30min to get there.

    Like, sure…if making $50+/h one can justify it. But one could also instead save $23.50 for the piggy bank by taking the bus. And the 30min extra is not time one would have been at work getting paid anyway (unless your taking the bus/taxi to work I guess and actually gain 30min of pay).

    That’s when you start calculating your hourly wage once all your livings costs have been deducted. Once you amortize your housing costs, car, food, retirement, student loans, and whatever other bad decisions that you’re still paying for every month and figure out your hourly wage AFTER all that it’s a lot easier to keep a level head.

    Doing this when you make $12/hr is much too depressing though.