How seriously do you guys take saving for retirement?

[JMcLellan]

Originally Posted by ASAP

you definitely want to contribute at least as much to your 401k as your employer will match... above that is a bonus... remember, this is money that is tied until you are about 60... there are certain activities you will not be able to do at that age no matter how much you try to talk yourself into it

My dad has two different friends that bought C6 corvette stingrays when they were in their 70's. One guy had the car for about 3 years and then he died from Covid (had some other health issues going on too). The other friend showed me his Vette but told me he thought he could only drive it for maybe 2 to 3 more years until his body won't let him get in and out of it reasonably. Both guys waited until there 70's to get a dream car and didn't get to enjoy them for long.

I thought immensely about these guys when I was considering buying my G87. If you can get the dream car now and it doesn't compromise your short term and long term financial goals then go for it. All this waiting until later mindset doesn't make sense to me if it's something you really want and it doesn't impact your standard of living or retirement goals. I know it probably isn't that simple for some people but that's the thought process I went with.

[jmg]

Originally Posted by XutvJet

I've weathered all the market collapses since 2000. During the 2008-2009 financial crisis, I lost 40%+ of the value of my portfolio. I kept it all in the same place and kept adding. By late 2010, my portfolio had gained all that loss back plus another 20%.

You can't freak out.

This is it. I doubled down during the housing crash and bought another house and continued to contribute to my retirement accounts. I was down 6 figures in 2020, but still contributed that year. It's up 21% since then.

Ignore the noise of ups and down with long term retirement investments. Hold fast!