You know, that actually sums up my concerns regarding saving.
I think that: Within the next 30 years, a singularity and major economic upheaval are each much more likely than any kind of “business as usual” situation for which IRAs were intended. I also think that money (at least USD) will be of much less value to me when I’m 60.
And yet I contribute anyway, and only have about 8% of current USD value of my savings invested in a way appropriate for one of those scenarios.
Now, I’ve gotten a bit better: I stopped maxing out the 401k (i.e. putting 25% of pre-tax earnings in it), and I’m keeping a car loan I could pay off. But if I were really serious about this, I should empty most of the account, and put it in something else, even though this will incur a big penalty.
I’m just noting that while it makes sense in context I don’t usually expect to see “Now, I’ve gotten a bit better … I’m keeping a car loan I could pay off.” The irony appeals.
You know, that actually sums up my concerns regarding saving.
I think that: Within the next 30 years, a singularity and major economic upheaval are each much more likely than any kind of “business as usual” situation for which IRAs were intended. I also think that money (at least USD) will be of much less value to me when I’m 60.
And yet I contribute anyway, and only have about 8% of current USD value of my savings invested in a way appropriate for one of those scenarios.
Now, I’ve gotten a bit better: I stopped maxing out the 401k (i.e. putting 25% of pre-tax earnings in it), and I’m keeping a car loan I could pay off. But if I were really serious about this, I should empty most of the account, and put it in something else, even though this will incur a big penalty.
Wow. I was the one that initiated this line of reasoning and even so I took a double take at seeing that
Elaborate.
I’m just noting that while it makes sense in context I don’t usually expect to see “Now, I’ve gotten a bit better … I’m keeping a car loan I could pay off.” The irony appeals.
LOL good point. 99.999% of personal finance discussions, it’s supposed to work out the opposite.
What would the something else be?