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fenton7 t1_j7ncpyn wrote

Regular contributions to your 401k are the perfect example. Set it, forget it, and be richer than 90% of peers in your age group.

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Fun_in_Space t1_j7o2yu5 wrote

My 401k lost $6,000 last year. I will never be able to retire. That is, if I ever get another job.

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fenton7 t1_j7p515s wrote

Market fluctuations are irrelevant for a long term investor. I've been in it since 1990 or so and it has averaged about a 10% annual gain. Yes there were tough periods like 2001-2002 and 2007-2008 but all that just looks like noise now. Unless you foolishly cash out, you'll almost invariably be at many multiples of the pre crash balance. I've got 18 times as much as I had in 2000 and about 4 times was much as I had in 2007.

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Fun_in_Space t1_j7pdjkz wrote

If I tried to retire, I would have enough to live on for less than 3 years. I have contributed to retirement my whole working life, but I cannot make enough to contribute enough to create enough wealth to retire. Just glad I never had kids.

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