Thread: Money Investing megathread extravaganza
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Old 11-10-2016, 06:55 PM   #475
lewdog lewdog is offline
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Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $-1338100
Quote:
Originally Posted by Amnorix View Post
I'm not kidding when I tell you that some disturbingly HUGE percentage of America is basically in this boat, which is a huge part of why people are so disaffected and voted for "Hope and Change" in 2008 and for Trump in 2016.

MEDIAN savings (half of population above, half below) for people aged 56-61 is $17,000. SEVENTEEN thousand. It's ****ing mind-boggling.









http://www.businessinsider.com/how-m...irement-2016-3

All of this is so mind blowing to me.

And no offense Hometeam, I think you clearly stated you weren't great with money, but it blows my mind someone can rack up debt like that in a housing area this is so cheap ($85k mortgage?). This seems to be a common trend across the country though.

I wouldn't worry about investing in anything outside of your 401k since you have never had one and have nothing saved for retirement. Take the highest contribution you can that maxes your employer match. Bump up your contributions after that according to getting your debt paid off. The 401k is a great investment vehicle for you to lower your taxable income on the higher salary.
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