Views : 482,563
Genre: Education
Date of upload: Apr 20, 2024 ^^
Rating : 4.921 (276/13,730 LTDR)
RYD date created : 2024-05-17T14:39:50.320928Z
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Top Comments of this video!! :3
I’ve been diligently working, saving and contributing towards financial freedom and early retirement, but the economy so far since the pandemic has eaten away most of my portfolio, what I want to know is this: Do I keep contributing to my portfolio in these unstable markets or do I look into alternative sectors.
1.7K |
With Roth IRA, the money you are contributing has already been taxed. At any time for any reason, you can withdraw your contributions tax-free and penalty-free. Additionally, any earnings on investments can also be withdrawn tax-free and penalty-free, Not sure how much to contribute, I'm still at a crossroads deciding if to liquidate my $338k stock portfolio.
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I guess it's partly because of the psychological reasons:
-They genuinely enjoy what they doing.
-They've built too much of their sense of self into what they do for a living.
-They need to feel alive somehow and their work helps them feel alive.
-They don't trust anyone else to run their 'baby'
2.2K |
I knew people who would arrive early and stay late at their $80k/year jobs because they hated their spouses and children. Work was the place they could excrete the toxicity they cultivated and absorbed at home. Work from home would never work for them because their home is their prison. How F-ed up is that? We truly are the architects of our own misery.
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They're not exactly doing back breaking work. They just tell people to move digital numbers for them.
And its kind of the problem with the whole "you'll never retire" thing. Sure working white collar jobs in your 60s, 70s or even 80s is feasable.
But you can't be a carpenter or ironworker or mechanic etc in your 70s. Certainly not full time. Its quite literally physically impossible.
Pretty sad to see the people who work the hardest doomed to poverty.
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I'm 55. I've noticed that when people older than me in family stopped working they went into a steep cognitive decline. Even working a part time job has the ability to keep older people focused and active in the world. My Mom retired at 65 and immediately entered the world of conspiracy theory emails circulated among retired women and endless telephone scams. My father, by contrast continued to work part time jobs until he was 89, then went into a decline and died 4 years later. Meanwhile Mom is still in a fog in an assisted living facility and completely broke from being the victim of so many scams. So I guess I'd rather stay active in the business world, whether I need the money or not.
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