So I got my first paycheck at my new job.
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Two weeks of pay, equates to $1800. That's after taxes, before any deductions (insurance, etc, since those have not kicked in yet).
So that means I'm going to be bringing in $3600 and change a month. Which is nice. Gonna see if I can try to aggressively save.
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@NKato
Good luck. I highly recommend saving big if you can. -
@NKato Get an IRA, start young, compound interest is your friend. Why parents don't start them for their kids at 18 is beyond me.
52' Dodge M37, 71' Datsun 240Z, 83' Mercedes 300D, 11' Acura TSX wagon
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@NKato congrats!
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@415s30 I'm sure as fuck ain't young. I have no retirement because it's a long-ass fucking story.
That said, I'm trying. We're gonna see where things go from here on out.
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@NKato I started mine a bit late, I have no idea how old people are on here. Some are in high school from what I see! I have a pension with the union but I max my IRA out every year.
52' Dodge M37, 71' Datsun 240Z, 83' Mercedes 300D, 11' Acura TSX wagon
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@415s30 I'm in my late thirties, less than a handful away from 40.
So yeah, I'm way behind. The adage, "Societal collapse is the retirement plan" rings far more true for me than most people.
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@NKato Young or not, now is definitely a better time to start saving than later. Congrats on the new job and new paychecks!
Also you are younger than me, so clearly still young!
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@NKato Congrats man! I vote for index funds.
#modlyfecrisis victim
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@NKato Dude. My parents were 38 and 39 when we moved to states. They could say literally three words of English between the two of them. They had $8000, and $5000 or $6000 went to a salvage title Ford Escort station wagon right away as they wanted reliable transportation. That car never skipped a beat btw.
Here we are, 23 years later, they can retire in their early
60’s as millionaires, on a truck driver and nanny salaries and smart investments. Never say never. -
@NKato That's great. Also look for all opportunities within or outside your company to further or add to your skills. You're still not that old and have 20 plus years of earning potential so the more you can learn, the higher your potential. Also take on a part time job if you can that doesn't burn you out but can help pad those savings. Financial freedom is key to a stable life. Congratulations!
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@MUSASHI66 said in So I got my first paycheck at my new job.:
@NKato Dude. My parents were 38 and 39 when we moved to states. They could say literally three words of English between the two of them. They had $8000, and $5000 or $6000 went to a salvage title Ford Escort station wagon right away as they wanted reliable transportation. That car never skipped a beat btw.
Here we are, 23 years later, they can retire in their early
60’s as millionaires, on a truck driver and nanny salaries and smart investments. Never say never.
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@NKato Nice! Are you still doing the same line of work or moving to something different?
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@gettingoldercarguy said in So I got my first paycheck at my new job.:
@NKato Congrats man! I vote for index funds.
I'm not very literate with finances like that. I'm gonna need a lot of teaching to really get a good grasp on things.
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@ibRAD said in So I got my first paycheck at my new job.:
@NKato Nice! Are you still doing the same line of work or moving to something different?
Still a machinist. I'm learning a lot of new stuff at the current employer, lots of setup stuff.
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@NKato Are you running a specific machine or spread around the shop?
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@facw said in So I got my first paycheck at my new job.:
@NKato Young or not, now is definitely a better time to start saving than later.
I dunno, current inflation says different lol
Gotta find investments that pay higher interest than current inflation to make anything. Don't just save up a bunch of liquidity to rot in a savings account that pays out a laughable 0.5%
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@atfsgeoff Obviously if you think inflation is a long term concern you should be borrowing aggressively and making highly leveraged investments (don't actually do this)
But yeah by saving, I mean investing in stocks. Though even stashed under your mattress slowly losing value is better than just not having the money at all.
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@facw said in So I got my first paycheck at my new job.:
@atfsgeoff Obviously if you think inflation is a long term concern you should be borrowing aggressively and making highly leveraged investments (don't actually do this)
Like used cars lol
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@ibRAD Mainly Haas 4-axis and 5-axis mills, only aluminum materials (which is kind of a step down), but in contrast I'm learning more about the intricacies of setting up different kinds of fixtures and workholding systems.
