this post was submitted on 15 Dec 2024
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[–] exasperation@lemm.ee 4 points 3 days ago (1 children)

Now I make 230

Yeah the break even point is like the early 30's, even among people who are killing it in either path.10 years of $100k+ in your 20's won't be able to build up enough of a buffer against $200k+ after 30, when retirement ages are around 60.

[–] fishpen0@lemmy.world 5 points 3 days ago

It’s actually harrowing how little I have in retirement savings compared to them. I spent the first 6 years of my career paying off loans and only contributing up to my employers match. I was illiquid for multiple large economic events while they had cash laying around. They could buy cars when interest was zero. They had a house to refi when interest was zero. I feel like a millennial describing boomers but these are guys in their 30s who went to trade school.

For me to catch up I have to put money almost entirely in taxable accounts where their money and returns are shielded from taxes. They were actually able to use a Roth for many years where I was only real able to max one out for two years before my promotion put me out of eligibility.

The earlier you are in a market, the better off you are and trades put you into the market almost 10 years earlier than someone taking 4 years of college and then having 4-6 years of loan payments