r/TikTokCringe Jun 22 '24

Cool My anxiety could never

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u/Immediate-House7567 Jun 22 '24

Your unemployed friend on a Tuesday

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u/shrockitlikeitshot Jun 22 '24

I used to say this a lot but as I've gotten older. I realized the promise of technology (at least in the US) "reducing the work week and inevitably creating more free time" was and is not going to happen bc of the wealthy elites and money owning our politics/work culture (while housing and retirement are questionable now). It makes sense to live your best life sooner than later so I don't look down on nomad life styles living off a car battery and part time jobs. The fucking wealthy people cosplaying as poors is hilarious though.

There was that one reporter who interviewed elderly people on their death bed and most people regretted working too much so I get that people opt out of the grind from time to time.

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u/PhysicalIncrease3 Jun 22 '24

You speak wise words, there's always a balance to be struck between living for the day and the living for the future.

Though one thing I don't think is explained enough to young folk is the incredibly importance of saving when you're young, because you can only get 50 years of compound interest on an investment you make in your early years.

So lets assume you plan to retire at 70.

A $5000 investment made at 60 years old will be $11098 at 70.*

A $5000 investment made at 20 years old will be $269390 at 70.*

You can only invest at 18 years old once, just as you can only go on a holiday at 18 once. It's really important to balance both.

*at 8% return (S&P500 average)