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What to Do When You’re 40 and Have Nothing Saved for Retirement -- (link)

Posted by ty97 Dec 4 '14, 13:25

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link (twocents.lifehacker.com)

Responses:

i really like this article from Mr. Money Moustache... about early retirement. - colin Dec 4, 13:34 16
- Part of me wants to max out my allowed 401K contribution for 2015. - ty97 Dec 4, 13:37 15
  - what does your employer match? - colin Dec 4, 13:38 14
    - I don't have a Roth, just my employer 401K. They give 2% automatically and additionally match 1:1 up to 6% - ty97 Dec 4, 13:57
    - matched and max are often not the same thing/amount in a 401K. -- nm - Diva Dec 4, 13:44 4
      - federal gov sets your max contribution per year, right? -- nm - colin Dec 4, 13:45 3
        
        IIRC, max is $17500 for 2014 plus $5500 for those over 50. -- nm - Diva Dec 4, 13:48 2
        
        Yep and it's 18,000 for 2015. That would be...tough. -- nm - ty97 Dec 4, 13:57 1
        
        yonh. -- nm - Diva Dec 4, 14:02
    - *finger to nose*matched money is free money and 100% return right off the bat -- nm - Beaker Dec 4, 13:39 7
      - i really don't understand why people don't at least put in up to the matching amount. -- nm - colin Dec 4, 13:42 6
        
        I had it available to me early on. I only took advantage of it a few years later. I still feel stupid. -- nm - Mel Profit Dec 4, 13:48 2
        
        I miss my stupid sexy 401k. - groiny Dec 4, 13:50
        
        i shudder when i think about all the money iv'e wasted over the years. as long as we learn, all good. -- nm - colin Dec 4, 13:49
        
        it's like turning down a raise. -- nm - Andie Dec 4, 13:43 2
        
        ...if you were to take the entire raise and put it into savings. -- nm - Max Dec 4, 14:04
        
        free money? naaah. -- nm - colin Dec 4, 13:44
*PASSES OUT* -- nm - groiny Dec 4, 13:30
there's another article linked here that mentions "binge saving"... - Mel Profit Dec 4, 13:28
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