What's your RETIREMENT PLAN?

[Anonymous 2]

About me:
> 19, delivery driver, own cheap car, live at home.
> Minimalist, studying Computer Science at a good University.

My current plan:
> Deposit $5k AUD + all extra cash into 2.5% savings account.
> Finish Uni and get a decent paying job (e.g. $60k).

Assuming I can keep expenses to $25k a year then I’ll have $15,356 to save as the government steals about $15k in taxes + superannuation. If I made $60k until I was 40 then I’d have saved about $550k, having paid $500k in tax.

Obviously I plan to make well above $60k (reason I chose STEM), but the maths is complete bulls~~~. The government literally steals half a million dollars from me (most of it for parasites on the dull). I don’t see any way the average man could retire like this at a relatively young age.

Any ideas? I don’t want to be an average sheeple.

I get the feeling I’m missing something so any advice or insights would be greatly appreciated. Heck, what’s your retirement plan?

[Duke TogoParticipant 2664]

Consider a Vanguard Diversified fund, a good budget and maybe watch Turd Flinging Monkeys Monkeynomics series on Youtube.

Maybe also consider re-evaluating your current University and compare it with others to see which has more work experience units and better graduate employment rates in your field.

I only do a few things in my life as I want to get better at each of them I selected, so I don’t spend my time on anything else. Limit your options to the most rewarding (usually more difficult and longer to achieve results/competency) and don’t get overwhelmed by everything else out there. If you do not limit your options, you will end up wasting so much money and more importantly time, your most valuable resource of all.

Work hard, stay on track and keep to your budget and goals. At times you may ask yourself “why am I so boring?” as you don’t do much else, but that is the price you must pay to get to where you want. Be patient also (very important).

With working hard, studying and saving for retirement, also remember that you need to take regular breaks and reward yourself also, but these breaks and rewards must be warranted for your efforts. All work and no play will make you go crazy and affect your health negatively.

Hope all the above helps with your retirement planning as well as life planning too.

Live well brothers.

[Anonymous 43]

lol whats a retirement?

Divorce assrape and low income have almost crushed that notion.

[Duke TogoParticipant 2664]

Anonymous wrote:

lol whats a retirement?

Divorce assrape and low income have almost crushed that notion.

I forgot the most important piece of advice… do not date, do not impregnate, do not cohabitate and do not marry.

[Anonymous 2]

Duke Togo wrote:

I forgot the most important piece of advice… do not date, do not impregnate, do not cohabitate and do not marry.

I wasn’t planning on it, I’m pretty content as I am now so I see no reason to invite such a massive liability/risk into my life. Thanks for the suggestions btw, I really liked the idea of focusing on a few rewarding things rather than many worthless things.

[joetechParticipant]

Figuring out what to do with your time when you “retire” will be much trickier than planning the finances of said retirement. Nowadays, I think traditional retirement is a thing of the past. At some point in a man’s life he has to face not retirement, but finding a new career as an old guy. Everyone talks a good line about early retirement, but no one stops to think about what that really means. Fill your life with what you’re passionate about and you’ll find that when you’re retired you’ll be wondering when you ever had time to work. Follow your plan and the money part will take care of itself.

"Don't follow in my footsteps...I stepped in something."

[GraybeardParticipant 61]

Something simple to remember. Aggressive investment and moderate investment over time equal out. A moderate investment scheme is safer and easier to take care of. You are young and have time to let money grow. Larger investment now (while you are young) will grow bigger faster. NEVER TOUCH YOUR RETIREMENT MONEY!
I’m semi retired at 49, only work 3 hours a day during the school year, mostly for play money (I own the house and lots of toys to play with). The government won’t release pretax retirement money without penalty until you are 59 1/2 years old!
Smart investment and good future to you brother,
Graybeard

[Anonymous 42]

Anonymous wrote:

lol whats a retirement?

Divorce assrape and low income have almost crushed that notion.

Retirement is another illusion they want you to believe at the ends of extortion. They only count the tail end of your Social Security Extraction, in your least productive years, then screw the men that lost their jobs during the manufacturing shutdown and other failures and defaults in the system, they/we GET NOTHING! The big GO-F~~~-YOURSELF as USUAL WORTHLESS FORM OF GOVERNMENT!

The collapse is a domino effect, eventually it gets around to everyone as the middle class plunges into poverty.

Multitudes of men were also f~~~ed for their pensions as manufacturing went belly up on all their obligations, excluding the privileged and hand select industries that were bailed out so they could keep paying high wages and exorbitant pensions in a market that’s no longer sustainable.

Yesterday the stock market lost over 4% of its value.

The free market is dead, only the selected get to survive. Thank your nearest socialist on both sides of the isle…

[ShineParticipant 1696]

Look into Pros and cons of a super salary sacrifice

There are a many benefits of salary sacrificing some of your pre-tax salary into super, they include:

You will pay less tax
You will boost your retirement savings
Investment earnings in super are concessionally taxed

There are also a few things to consider before you decide to increase your super contributions:

Your money will be locked away until you reach preservation age and meet a condition of release
There are limits on the amount that can be salary sacrificed into super

Accessing your voluntary super contributions to buy a home

Under a new scheme proposed by the Federal Government in the May 2017 budget, first home buyers will be able to use up to $30,000 of their voluntary contributions to purchase a home.

From 1 July 2017, up to $15,000 of voluntary contributions made over a financial year ($30,000 in total) can be withdrawn for the purpose of buying your first home. Withdrawals can be made from 1 July 2018.

"Society is to blame" Denton

[Anonymous 54]

Homelessness. Why?

Hahahh!!!

[ShineParticipant 1696]

Anonymous wrote:

About me:
Any ideas? I don’t want to be an average sheeple.

I get the feeling I’m missing something so any advice or insights would be greatly appreciated. Heck, what’s your retirement plan?

I worked in IT for 2 years after completing a 2 year TAFE course in Systems Analysis & Design, Analyst Programmer.

This was back around 2000 and the whole industry was going through so many changes. My biggest concern was local Aussie companies using cheap programmers in India as competition and to drive down my wage. If I was still in the game now, I’d prob look at phone apps and working for myself or take on contracts.

If you can make it in the STEM field your wage should increase every 5 years, and also your retirement options are alot better than others as you can go down the digital nomad path and be semi retired at a young age working a few days a week in a poorer country earning a stronger currency – in theory if you keep up with the rate of change and ahead or neck and neck with the competition.

Just remember all this current tech will be laughed at in 10 years, so don’t burn yourself out, or go BIG early on and make a s~~~ load of coin! Plenty of people have made mint on 1 good idea.

"Society is to blame" Denton

[MarketWatcherParticipant]

Sounds like you are off to a good start. You have a plan like that at 19? Good job and stick to it. You will be better off than 90% of your peers.

[LurchParticipant 3866]

As a senior software engineer, and as one Aussie to another, if you want to get ahead in IT in Australia there is only ONE thing you can do…

LEAVE!

I am now in the USA, on a 6 figure income. Something I could NEVER achieve in Australia. In fact after 15 years in there, the best I could get was $65K, and that was with full Microsoft .Net full stack programming skills.

When I got to the USA, the first full time job I got was $95K and now I’m will over 6 figures working with cutting edge technologies like Unity 3D, Angular CLI, ASP.Net Core and all that other good stuff.

Australian IT is a JOKE and Australian management are f~~~ing clueless! Never had an IT manager down there valued me for the skills I had, since they had no fricking clue what I was doing.

Seriously, GTFO of the country if you want a better deal.

Blue-Pill Virgin: Women hate me! That's what it is.
MGTOW Man: Hate them back; it works for me.

[CatsPawParticipant 423]

Death

[Faust For ScienceParticipant 22521]

With the poor health I have, I am not planning to live to see retirement. Instead, I live in the now because I likely have no tomorrow.

[TonyParticipant 149]

I agree with the other guys on here, Don’t get invovled with any women ( I’m looking at my second divorce – hopefully this time I won’t lose half my weath again ).

Live life for Now – not for when you retire, get out with your mates. Enjoy yourself now – if you work full time most jobs pay enough for this. But if you get involved with women, they get you buying s~~~ ( with your wages ) that men don’t want anyway but we do it to get a regular shag.

Remember – Men don’t pay prostitutes for sex, they pay them to leave us alone once we are done with them.

Live and enjoy every day – never know when it’s your last.

[black_knightParticipant 2602]

What’s your RETIREMENT PLAN?

To be dead, hopefully. I really can’t be bothered worrying about and working towards a time which may never come. I don’t trust private pension funds, and though I’ve looked into investments, I find it all so overwhelming and time consuming, and I don’t trust any particular market nor the world economy.

I always imagined savings would be my retirement saviour, and though I save approx 40% of my take-home wage, inflation eats into its worth, and UK interest rates have been 0.5% for about 10 years.

[HermitParticipant]

Faust For Science wrote:

With the poor health I have, I am not planning to live to see retirement. Instead, I live in the now because I likely have no tomorrow.

I don’t know if I’m any more or any less healthy than you are, but at 50 years old, with maybe $80,000.00 at the most in my 401K, f~~~ worrying about retiring. That opportunity has passed. I’m like you and living as happy as I can for now. Why scrimp and save for an old age that I may never reach? I’d like to take that $80K now and pay off my house and by a nice truck. That’s about all that sad amount of money would buy.

I want to live for today and let tomorrow worry about itself. Life is too short and getting shorter all the time.

The evil in women’s hearts leaves them no moral bounds as to inhibit them from descending to the lowest levels of darkness to acquire their self entitled desires.

[ZoidbergParticipant 965]

“What’s your RETIREMENT PLAN?”
Dying.

[HermitParticipant]

Zoidberg wrote:

“What’s your RETIREMENT PLAN?”
Dying.

Living is pretty good, but dying will be pretty cool too. There can be beauty in death. I believe there is a plain of existence beyond this corporeal world. It will be interesting to see it.

The evil in women’s hearts leaves them no moral bounds as to inhibit them from descending to the lowest levels of darkness to acquire their self entitled desires.

[Author]

Posts