View Single Post
  #27  
Old December 20, 2012, 06:27 PM
iDumb iDumb is offline
Cricket Legend
 
Join Date: June 18, 2010
Location: NYC
Favorite Player: Di Caprio
Posts: 7,244

Quote:
Originally Posted by Fazal
- Increase my monthly saving rate by reducing some expenses (increasing by 20%)
this is a very good goal. i want to say this to all of you young working kids, please max out your 401k...which is currently 17k annually in us. and try to survive on the rest of the money, ideally taht is ur income.......

10 years ago a close relative of mine didnt eeven opt in for 401k with company matching, i asked him if he was crazy or not...he enrolled the follwing year.. i bet you he owes me many thanks....

many ppl will argue that they can take the money out and invest better and make faster money without any restrictins.... thats great but majority of ppl lack that discipline to succeed and they need this forceful and restrictive savings fund...

and these funds are protected from anything.... collection, bankruptcy, u name it but normal savings arent.
Reply With Quote