Quote:
Originally Posted by Dondilion
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Ignorance.
Too many American workers do not take their 401k or investing seriously. They don't understand how the stock market works because they have not been adequately educated and consequently, don't trust it. They under invest if they invest at all. I work with a bunch of guys, younger Baby Boomers in their 50s and 60s, who've waited until NOW to start worrying about retirement. If retirement age is only 5 years away...........buddy, it's too late. So they're all dumping petty cash, $100 or so here and there into these gimmicky bitcoin cryptocurrency stocks and hoping to make stupid money, fast. Either that or they're finding excuses to collect disability. Makes me sad.
I see big problems coming when all these people get too old for work and have done absolutely ZERO to prepare.
Me? I started putting everything I could in my first 401k in 1991. Today, I'm 57, have two 401ks worth a total of approximately $750k and plan to retire at 60. They want to know what my "secret" is.............
