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I wish i had saved early
Old 04-14-2013, 04:00 PM   #1
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I wish i had saved early

I was 26. And single when I started saving for retirement. Then a few years later got married 30 then had 2 kids, wife has stayed home with kids for 14 years. I owned my own business during our early 30s it was not easy cashed in retirement. For years now on this site and bogleheads and moving everything to vanguard. I now have a good plan I'm lucky that I'm able to put away a good amount each year. Maxing 401k, Roth and taxable. Life is a struggle at times,wouldn't change keeping my wife at home just wish I didn't touch any of my retirement money. thanks everyone for all your input. Save early.
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Old 04-14-2013, 04:02 PM   #2
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Early makes it easy.
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Old 04-14-2013, 07:40 PM   #3
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No such thing as premature accumulation.
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Old 04-14-2013, 09:12 PM   #4
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Oh how I wished I'd understood this earlier! And been heavy into stocks in the 90s. Live and learn...
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Old 04-14-2013, 09:34 PM   #5
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Oh how I wished I'd understood this earlier! And been heavy into stocks in the 90s. Live and learn...
You talking to me ?

I've learned not to beat myself up about the past. We did what we did with the right intentions. Look ahead and plan accordingly, using the past for lessons
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Old 04-15-2013, 01:20 AM   #6
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No such thing as premature accumulation.
I was slow to mature. Took me a while to understand what accumulation meant
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Old 04-15-2013, 08:34 AM   #7
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I've learned not to beat myself up about the past. We did what we did with the right intentions. Look ahead and plan accordingly, using the past for lessons
You mean.... Live and Learn?
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Old 04-15-2013, 09:02 AM   #8
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Originally Posted by Snowx800 View Post
I was 26. And single when I started saving for retirement. Then a few years later got married 30 then had 2 kids, wife has stayed home with kids for 14 years. I owned my own business during our early 30s it was not easy cashed in retirement. For years now on this site and bogleheads and moving everything to vanguard. I now have a good plan I'm lucky that I'm able to put away a good amount each year. Maxing 401k, Roth and taxable. Life is a struggle at times,wouldn't change keeping my wife at home just wish I didn't touch any of my retirement money. thanks everyone for all your input. Save early.
Don't beat yourself up about it. Life happens, and you needed funds. Once you start the 'what if', it never ends. What if you would have lost all the earlier retirement in a crash or bad investment...in that scenario, you got more use out of the funds by using them than if you lost them in the market. Another way to look at it is that by doing what you did, that's why you are here now, mentally, physically, and family wise. The important point is you have a plan now, and are cognizant of what is going to be needed. That's already 18 steps ahead of most people.
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Old 04-15-2013, 10:29 AM   #9
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Don't beat yourself up about it. Life happens, and you needed funds. Once you start the 'what if', it never ends. What if you would have lost all the earlier retirement in a crash or bad investment...in that scenario, you got more use out of the funds by using them than if you lost them in the market. Another way to look at it is that by doing what you did, that's why you are here now, mentally, physically, and family wise. The important point is you have a plan now, and are cognizant of what is going to be needed. That's already 18 steps ahead of most people.
+1

A lot of who are in good shape now still have "what ifs"... but as the above says, they key thing is to take action and look forward. You are still better off than several relatives of mine at about the same (and in one case greater) income levels who kept making excuses about not saving for the future due to too much enjoyment of the present... and now find themselves without the option to retire at all, and wondering what our "secret" was.
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Old 04-15-2013, 12:54 PM   #10
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Early makes it easy.
I like that!
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Old 04-15-2013, 02:44 PM   #11
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Don't beat yourself up about it. Life happens, and you needed funds. Once you start the 'what if', it never ends. What if you would have lost all the earlier retirement in a crash or bad investment...in that scenario, you got more use out of the funds by using them than if you lost them in the market. Another way to look at it is that by doing what you did, that's why you are here now, mentally, physically, and family wise. The important point is you have a plan now, and are cognizant of what is going to be needed. That's already 18 steps ahead of most people.[/QUOTE]


Thanks I know we can't change the past. I'm very
Happy where I'm headed in the future. I'm lucky that I'm able to save as much as I do now and my savings is growing fast. I do have a plan and It feels good doing it.
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Old 04-15-2013, 03:25 PM   #12
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Good topic. Save early, save often. Hope I can instill this concept with my kids. My son is in college and going thru the typical "bolshevik" phase, so I am having trouble getting him to understand this. When I was in college, a friend of mine in our freshman honor society had an investment type guy come speak to us and for the first time in my life I saw charts/graphs with the concept of compounding (you know, the typical charts that show Earl at age 22 versus Bob at age 32 saving for retirement). Anyway, those charts never left my mind and I started IRA's for me and spouse as soon as we had jobs. And for that I'm very grateful.
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Old 04-15-2013, 07:02 PM   #13
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I started early (21 year old) Just when 401k's were becoming popular. my screw up was taking a loan against the 401k. sure enough lost the job owed the money plus tax. still kick myself for that and it's been nearly 20 years ago.
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Old 04-16-2013, 12:02 PM   #14
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Good topic. Save early, save often. Hope I can instill this concept with my kids. My son is in college and going thru the typical "bolshevik" phase, so I am having trouble getting him to understand this. When I was in college, a friend of mine in our freshman honor society had an investment type guy come speak to us and for the first time in my life I saw charts/graphs with the concept of compounding (you know, the typical charts that show Earl at age 22 versus Bob at age 32 saving for retirement). Anyway, those charts never left my mind and I started IRA's for me and spouse as soon as we had jobs. And for that I'm very grateful.
I don't know if this helps BigE, but feel free to share my story with your son. I saw one of those compound interest charts in college and started putting away 10% of my paycheck in my first grown up job at age 20. Husband did the same, and we've gradually ratcheted it up over the years. Now realizing we have a shot at retiring in our forties, something I can still barely believe. That compound interest chart is a real gift. I wish I could remember who showed it to me.

Perhaps he'll like it this way: saving money now can gain him an extra 20 years of vacation. Pretty sweet deal.
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Old 04-16-2013, 06:03 PM   #15
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You talking to me ?

I've learned not to beat myself up about the past. We did what we did with the right intentions. Look ahead and plan accordingly, using the past for lessons
Trying to do as you say, L&L!
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Old 04-16-2013, 06:50 PM   #16
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misery loves company, I started saving early, an IRA, did a roth conversion, paid taxes, then lost 95% in .com bust. On top of that, borrowed from 401k, only too lose that $ in stocks as well. Pretty hard hit early, but I fought my way back, if I can just keep employeed a few more years, till 59 1/2, should be okay if market hold together.
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Old 04-16-2013, 08:21 PM   #17
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I don't know if this helps BigE, but feel free to share my story with your son. I saw one of those compound interest charts in college and started putting away 10% of my paycheck in my first grown up job at age 20. Husband did the same, and we've gradually ratcheted it up over the years. Now realizing we have a shot at retiring in our forties, something I can still barely believe. That compound interest chart is a real gift. I wish I could remember who showed it to me.

Perhaps he'll like it this way: saving money now can gain him an extra 20 years of vacation. Pretty sweet deal.
We have always been savers, but not enough to retire in our forties. Well, not for me to feel secure anyway. In hindsight we had the income to have pulled it off. I wish we had saved more. I could have used an extra 10 years of vacation.
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Old 04-17-2013, 01:07 AM   #18
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For those, like me, who are the true frugal ones, we have saved all our lives. I guess I will keep doing the same when I finally FIRE.
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Originally Posted by Snowx800 View Post
I was 26. And single when I started saving for retirement. Then a few years later got married 30 then had 2 kids, wife has stayed home with kids for 14 years. I owned my own business during our early 30s it was not easy cashed in retirement. For years now on this site and bogleheads and moving everything to vanguard. I now have a good plan I'm lucky that I'm able to put away a good amount each year. Maxing 401k, Roth and taxable. Life is a struggle at times,wouldn't change keeping my wife at home just wish I didn't touch any of my retirement money. thanks everyone for all your input. Save early.
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Old 04-17-2013, 06:31 AM   #19
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Originally Posted by BigE View Post
Good topic. Save early, save often. Hope I can instill this concept with my kids. My son is in college and going thru the typical "bolshevik" phase, so I am having trouble getting him to understand this. When I was in college, a friend of mine in our freshman honor society had an investment type guy come speak to us and for the first time in my life I saw charts/graphs with the concept of compounding (you know, the typical charts that show Earl at age 22 versus Bob at age 32 saving for retirement). Anyway, those charts never left my mind and I started IRA's for me and spouse as soon as we had jobs. And for that I'm very grateful.
I was oblivious to money and the power of compounding interest for years. I will definately be sharing this wisdom with my children at a early age!
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