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Joined 3 months ago
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Cake day: March 16th, 2026

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  • krisevol@lemmus.orgtoMicroblog Memes@lemmy.world40s
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    7 days ago

    I never said it was enough to retire on, just pointing out what compounding interest does, and how waiting makes basically impossible to catch up. If you can’t save $500/month in your 20’s, you won’t be saving 10k a month in the 40’s.

    And you don’t need 500 a month in your 20’s. You can save $300 a month from 20-65 and still have 2.5 million.

    It’s not impossible, that’s less than $100 a week. If you see a kid driving a new car, his average payments are 800 plus insurance. He could drive a used car for half the money and retire. That new car in your 20’s is basically saying you don’t want to retire. Unless you got it like that of course, but like you said most people don’t, and that will still choose a dumb decision. I had friends finance a 30k wedding in there 20’s. There goes that retirement. Or going on an expressive trip that costs 10-20k. That one trip is no retirement. It really adds up like that.


  • krisevol@lemmus.orgtoMicroblog Memes@lemmy.world40s
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    7 days ago

    It’s saying that people they knew in their 20$ are in different wealth brackets in their 40’s.

    If they all made the median income their whole lives, they would be on different brackets if they saved in their 20’s versus the ones that didn’t.



  • krisevol@lemmus.orgtoMicroblog Memes@lemmy.world40s
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    8 days ago

    The difference was 5% returns from their 20’s.

    That’s all it takes to spread the gap. I’ll retire a multi millionaire, im 43 now, and some of my friend are just starting to save.

    The math, If you save $500 a month from 20-29 and never invest again you will have 2-4 mil at retirement depending on returns.

    If your start saving at 40 for the same numbers you need to save 10,000 a month until retirement.






  • krisevol@lemmus.orgtoLemmy Shitpost@lemmy.worldStay inside
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    10 days ago

    Me and the friends love going out to our local lake to kayaking, and bring out own ice chest with snacks and beer. The cost to charge our cars to drive there is about 50 cents. This can easily burn up a day.

    We also like getting on our ebikes and bar hopping. This can be quite expensive as each beer cost 8-12 bucks. But if we hit 4 bars it was a good night for $50 bucks.

    The new skate part they opened up is well built and fun, and most of the locals that hang out there are fun. Not to many shit heads.

    I also love going to Dave and busters. On Sunday it’s half price games so I get my fill of DDR for a couple of bucks and we get the $5 draft beers. If we are feeling hungry you can get the $20 food and game package.