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Neighbors Are Retiring in Their 30s. Why Can't You?

nytimes.com

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Re: Neighbors Are Retiring in Their 30s. Why Can't You?

#81

Post by citizen_friend »

toast0 wrote: post #67
citizen_friend wrote: post #65

Earlier quoted context omitted.

The math isn’t the problems. It’s the feat and uncertainty.

When the math is clear, there's no uncertainty and fear. I have more than enough, and I don't worry about running out. If I had $5M at 60, I would feel the same way. It's clearly more than enough. If I then went on to have $1M at 70, I would worry. The earlier case of $1.3M at 49 seems reasonable to worry about. If $5M at 60 isn't enough, there's probably no reasonable number that is enough, and there's no sense worr…

You are describing your personal emotions and outlook and not facing the issue.

Re: Neighbors Are Retiring in Their 30s. Why Can't You?

#82

Post by matchbok »

flandish wrote: post #43
ChuckMcM wrote: post #5

The article seriously downplays the role of luck here but it isn't wrong. If you live judiciously and save as much as you can by doing so, you reach a point where you can live judiciously without going into the office every day. The common thread is that just because you can buy something, or can qualify for a particular mortgage, doesn't mean you should if you're goal is to "retire" early. One of the engineers I wor…

My stepdad saved, as much as he could, so he and my mom could enjoy at the level or slightly less, retired 18 months ago and was proud. Retired at 71. Died this January past. Got less than 2 years. Thanks Capitalism!

Thanks poor financial planning!

Re: Neighbors Are Retiring in Their 30s. Why Can't You?

#83

Post by joquarky »

ChuckMcM wrote: post #79
khazhoux wrote: post #78

Earlier quoted context omitted.

Could you expand on this, Chuck? When time is scarce, we tend to make poorer choices in how we use our available time?

That is exactly correct. So a money example; Winter's coming and you need a coat, you don't have much money and so you buy the cheap coat that costs $40 instead of the expensive coat that costs $60, 2/3rds through winter your coat fails and you buy another cheap coat for $40. You're out $80 for the winter vs being out $60. A time example works similarly, when time is scarce you choose not to invest enough time into s…

This advice will depend upon having a decent safety net, obviously.

Re: Neighbors Are Retiring in Their 30s. Why Can't You?

#84

Post by gharper »

ChuckMcM wrote: post #79
khazhoux wrote: post #78

Earlier quoted context omitted.

Could you expand on this, Chuck? When time is scarce, we tend to make poorer choices in how we use our available time?

That is exactly correct. So a money example; Winter's coming and you need a coat, you don't have much money and so you buy the cheap coat that costs $40 instead of the expensive coat that costs $60, 2/3rds through winter your coat fails and you buy another cheap coat for $40. You're out $80 for the winter vs being out $60. A time example works similarly, when time is scarce you choose not to invest enough time into s…

> Winter's coming and you need a coat [..]

Which immediately brought to mind https://en.wikipedia.org/wiki/Boots_theory

Re: Neighbors Are Retiring in Their 30s. Why Can't You?

#85

Post by flandish »

matchbok wrote: post #82
flandish wrote: post #43

Earlier quoted context omitted.

My stepdad saved, as much as he could, so he and my mom could enjoy at the level or slightly less, retired 18 months ago and was proud. Retired at 71. Died this January past. Got less than 2 years. Thanks Capitalism!

Thanks poor financial planning!

go fuck yourself.

Re: Neighbors Are Retiring in Their 30s. Why Can't You?

#86

Post by ChuckMcM »

joquarky wrote: post #83
ChuckMcM wrote: post #79

Earlier quoted context omitted.

That is exactly correct. So a money example; Winter's coming and you need a coat, you don't have much money and so you buy the cheap coat that costs $40 instead of the expensive coat that costs $60, 2/3rds through winter your coat fails and you buy another cheap coat for $40. You're out $80 for the winter vs being out $60. A time example works similarly, when time is scarce you choose not to invest enough time into s…

This advice will depend upon having a decent safety net, obviously.

So here is the thing, if you have a 'safety net' you really don't have 'scarcity'. These effects manifest in the presence of the stress that you can't "undo" or may not survive the decision you make. That is what pushes the decision down into the "fight or flight"/"survival" part of your brain which is very focused on surviving "right now".

The book's entire premise is that you can end up making decisions in that mode that end up having worse outcomes.

We joke about companies that make choices to survive to the next quarter that end up killing the company long term, but it is the organizational equivalent effect.

Using the winter coat example, make it winter, you're homeless, and you have exactly $60 on you and two coat choices. If you buy the $60 coat you have to figure out how to get more money to eat, which could not pan out and you could starve, if you buy the $40 coat you know you can eat at least for a little while before you have to get more money. So that choice is survival based. If you get the expensive coat, then the next thing you work on is replacing your money supply. It either works and you survive or fails and you starve.[1]

One of the interesting things about basic income programs is that it provides a safety net which allows people to make better choices because they are not in survival mode.

Another revelation for me was that I had not previously realized that while I accepted people making bad choices under the influence of drugs or alcohol, it had not occurred to me that survival stress could be just as debilitating!

"Why did this person do this thing? Oh, they were drunk." that was easy but "Why did this person make this clearly stupid choice? Oh, they afraid of dying." that wasn't at all understood by me early on.

[1] The reality will be somewhere in the middle but that is the nature of the human mind to see the worst outcomes as most probable.

Re: Neighbors Are Retiring in Their 30s. Why Can't You?

#87

Post by dang »

matchbok wrote: post #82
flandish wrote: post #43

Earlier quoted context omitted.

My stepdad saved, as much as he could, so he and my mom could enjoy at the level or slightly less, retired 18 months ago and was proud. Retired at 71. Died this January past. Got less than 2 years. Thanks Capitalism!

Thanks poor financial planning!

This crosses badly into personal attack and we ban accounts that do that, so please don't do it again.

https://news.ycombinator.com/newsguidelines.html

Edit: please see https://news.ycombinator.com/item?id=40314730.

Re: Neighbors Are Retiring in Their 30s. Why Can't You?

#88

Post by dang »

flandish wrote: post #85
matchbok wrote: post #82

Earlier quoted context omitted.

Thanks poor financial planning!

go fuck yourself.

Please don't respond to a bad comment by breaking the site guidelines yourself. That only makes things worse.

https://news.ycombinator.com/newsguidelines.html

Edit: please see https://news.ycombinator.com/item?id=40314726.

Re: Neighbors Are Retiring in Their 30s. Why Can't You?

#89

Post by cscurmudgeon »

flandish wrote: post #43
ChuckMcM wrote: post #5

The article seriously downplays the role of luck here but it isn't wrong. If you live judiciously and save as much as you can by doing so, you reach a point where you can live judiciously without going into the office every day. The common thread is that just because you can buy something, or can qualify for a particular mortgage, doesn't mean you should if you're goal is to "retire" early. One of the engineers I wor…

My stepdad saved, as much as he could, so he and my mom could enjoy at the level or slightly less, retired 18 months ago and was proud. Retired at 71. Died this January past. Got less than 2 years. Thanks Capitalism!

At least your step dad reached 71.

My grandad died from stress and poor healthcare when he was 40, in a socialist country.

Re: Neighbors Are Retiring in Their 30s. Why Can't You?

#90

Post by cscurmudgeon »

dang wrote: post #87
matchbok wrote: post #82

Earlier quoted context omitted.

Thanks poor financial planning!

This crosses badly into personal attack and we ban accounts that do that, so please don't do it again. https://news.ycombinator.com/newsguidelines.html Edit: please see https://news.ycombinator.com/item?id=40314730 .

flandish has been consistently attacking others and posting trollish comments.

Example:

https://news.ycombinator.com/item?id=40289592

> it only makes you seem like the simp for profit piece of trash you are.

Compared to above what you are pointing out here is mild.

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