Recommend Young People Read ER Forum?

[Elbata]

I would say there's a fair amount of wisdom on this forum. Even though a lot on these boards wouldn't pertain to young people, it's a barometer on what older successful people have done to retire early. Almost like eavesdropping what ERs think.

Even at my age, 65, I really like to get the thoughts of those older than me and see how they look at things. Those extra 10-20 years provides a perspective that I just don't have, and I appreciate their sharing of experience.

Curious, do you think this forum is a good resource for young people--those starting college and early twenties?

Hopefully, they would pick up simple concepts like frugality, benefits of delayed gratification and successful strategies many here have taken to retire early.

 

[davebarnes]

I think the Bogleheads Investment forum is the #1 choice.

 

[eytonxav]

I think this forum would be a great place for younger individuals to learn if they are willing to read, and that should not be limited only to economic topics. However, if they are obviously very young and naive, I am not sure all members would have patience to answer their questions.

 

[Big_Hitter]

Curious, do you think this forum is a good resource for young people--those starting college and early twenties?

yes, but you can't force the horse to drink - most of these kids have their own thoughts on retirement....

 

[Walt34]

yes, but you can't force the horse to drink - most of these kids have their own thoughts on retirement....

I have to agree. When I was 25 saving for retirement wasn't even a thought. The whole concept was something that "old people" did and sounded boring in the extreme. That said, in the environment that I grew up in staying with one job for 30 years or more and having a pension was what I thought was normal, and my job did have a pension, although I didn't give it much thought.

It wasn't for another 10 years (age 35) and after a divorce, and waking up to the idea that I was then halfway through my career that I realized that I'd better start giving the idea of retirement some serious thought.

 

[Aerides]

It is to an extent, and we have activity in our young dreamers section. But
probably a retirement subreddit or targeted books would be more relevant to someone very young.

ETA: age isn't the real thing, it's desire. No, I would not say to a 22 year old "hey start reading ER to get good ideas" if they are not already interested in the idea of retiring early. I also wouldn't recommend it to a 42 year old for that same reason.

In general the idea of a 22 year old thinking about retirement sounds crazy to me. I'd be more inclined to council them toward a career they could enjoy for many years, vs. looking to get out as soon as possible.

 

[Big_Hitter]

In general the idea of a 22 year old thinking about retirement sounds crazy to me.

when you are 22 years old and working as an actuarial analyst for a benefits consulting firm, it's somewhat difficult not to

that's where I learned about planning for retirement

 

[davebarnes]

when you are 22 years old and working as an actuarial analyst for a benefits consulting firm, it's somewhat difficult not to

You make me laugh

 

[jollystomper]

In all honesty, I think there are other forums, like Bogleheads that was mentioned already, that are better for young people. Not that this one is bad, or should be looked at. but...

I think in college (or non college after high school) and early 20's the emphasis should be on establishing a career/work skill, and learning how to save and eventually invest. Doing that increases the odds to achieve retirement, especially if started early.

On this forum, there is a fair amount of "I am fed up, hate this job, can't wait to retire and leave my crazy co-workers" attitude... which is understandable if one is in their 50s or 60s. But to someone very young, they might get a warped sense of working.

Perhaps I feel this way because, when I started working at Megacorp, I began running into many cynical folks who saw the job I felt was exciting as drudgery/pain... and some of their feedback to me was "you are young and naive, you'll soon feel the same way I do". Not the best way to encourage a new worker. Misery loves company.

Fortunately I learned to seek out, and was mentored by, older workers who still saw the job as exciting, who were not discouraged by change but tried to figure out how to make the best of it, and encouraged me to look at things for the long run. These were the same folks who, when 401ks became available, constantly "badgered" me about opening one up ASAP... they enjoyed work, enjoyed Megacorp, but were also realistic. It was less about retirement and more about saving and putting money aside to have for an unknown future, and using the power of compound growth to your advantage. That sho8uld be the emphasis at that age, instead of early retirement.


Interestingly, most of the ones I worked with who enjoyed their job did end up retiring relatively early (before 65) - with an attitude of enjoying their career but looking forward to doing what they wanted. That was a good lesson for me.

 

[RxMan]

I’m thankful my parents set a good example by not overspending and they also encouraged me to start putting away some money into a retirement account as soon as I started working. Also keep in mind that I spent 8 years in college so I didn’t even start my career until I was 26 years old.

My early days of employment involved spending more than I should and running up credit card debt. It took me a couple of years to realize that was stupid. I then worked to pay off that debt. But even in those spend happy years I still managed to put money away for retirement in my company’s 401k plan.

I’d agree that while younger people would learn a lot here they’d need an interest and desire to learn. They’d also be better served by finding a career they enjoy so it’s not simply a race towards the end of their working life.

I’ve seen very young people with their financial ducks in a row and I’ve seen people a lot older than myself who are financial train wrecks. It’s takes all kinds!