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Old 05-02-2012, 09:55 AM   #61
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Originally Posted by Steel Rain View Post
...but my generation almost never works at the same employer for long enought to make it matter.

Steel
Very true... I just turned 30 and when I talk jobs with family/friends they are all shocked that I'm still working at the same company... that I started at just 7 years ago

"The best way to boost your salary is to move jobs"

"Make sure you're at least exploring other options"
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Old 05-02-2012, 10:20 AM   #62
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Originally Posted by EvrClrx311 View Post
It's so easy in theory...

From the day you start working, live on only 80% of your take home pay and put the other 20% into retirement (if you start at your first job you'll likely never notice the difference). Don't touch it unless you're terminally ill and even then you'll see examples where this isn't smart.

Then you'll have more money than you know what to do with by age 60

...but, in practice people fail horribly at this.
Offspring (particularly teenagers....)

Unforeseen expenses related to your offspring can be that "punch in the mouth" that Mike Tyson was famously referring to - relative to the otherwise sane plan presented above.
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Old 05-02-2012, 10:43 AM   #63
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Offspring (particularly teenagers....)

Unforeseen expenses related to your offspring can be that "punch in the mouth" that Mike Tyson was famously referring to - relative to the otherwise sane plan presented above.
It is always possible to plan ahead...

I have a 6 month old daughter that underwent open heart surgery 2 months ago and is still recovering in the hospital (coming up on 9 weeks and 3 operations)... fortunately, I was prepared with insurance.

I have yet to touch my 401(k).
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