"Money, money, money, money...MONEY!!!" - The O'Jays - For The Love of Money
My co worker came in singing this joyfully today as he back from a meeting I didn't even know was going on. Apparently some accounting types from ADP had come to my studio to fill everyone in on their options dealing with our company and their 401k's. I remember vaguely seeing some email about it, but dismissing it from my mind, as a money waster. (I had already finished TMF by this point.)
There was another session which I was initially going to ignore but my curiosity got the best of me. I ended up walking with another coworker who was a personal friend of mine So a beautiful professionally dressed young lady was giving a presentation to a crowded room filled with young eager faces.
She was busy enlightening us to the fact that when we're 67 or older, Social Security might not exist, (most likely not) and how people would only have (maybe) social security, pensions, savings/mutual funds or a second job to retire comfortably. At 67. Then she asked if there was any other way anyone could name a way someone 67 or older could retire comfortably?
Now I was sitting in the very front on the floor (standing room only) and she looked at me. I had to hold my self back from shouting, "How about they ditch the slowlane and get into the Fastlane BEFORE they turn 67!"
Someone mentioned the 401k's. And that's when she went into the spiel about putting money into your 401K, comparing donation amounts and waiting 20-30 years to finally get something close to maybe 300-400 thousand dollars when you retire. Some people were going WOW, and had these amazed expressions on their face. And then she singled me out and said that if i put aside five grand in a ROTH 401K i'd be a very happy camper in a few years. I almost laughed at her. I could swear I could almost hear MJ blowing raspberries whenever she made what seemed like a valid point that amazed everyone.
I walked out that room shaking my head going, everyone in that room is stuck in the Slowlane FOR REAL.
Well except for my friend. She hasn't read TMF but she's of the same mind to own her own business and create something of her own that pays her first.
If I hadn't read TMF when I did, i probably would have been caught up in the spell of "Retire when you're 70 with 300,000!!!" Smh, I need to get out of this slowlane. And fast. But the RIGHT way.
Anyway, just wanted to share that eye opening experience with you guys.
Thanks for reading!
My co worker came in singing this joyfully today as he back from a meeting I didn't even know was going on. Apparently some accounting types from ADP had come to my studio to fill everyone in on their options dealing with our company and their 401k's. I remember vaguely seeing some email about it, but dismissing it from my mind, as a money waster. (I had already finished TMF by this point.)
There was another session which I was initially going to ignore but my curiosity got the best of me. I ended up walking with another coworker who was a personal friend of mine So a beautiful professionally dressed young lady was giving a presentation to a crowded room filled with young eager faces.
She was busy enlightening us to the fact that when we're 67 or older, Social Security might not exist, (most likely not) and how people would only have (maybe) social security, pensions, savings/mutual funds or a second job to retire comfortably. At 67. Then she asked if there was any other way anyone could name a way someone 67 or older could retire comfortably?
Now I was sitting in the very front on the floor (standing room only) and she looked at me. I had to hold my self back from shouting, "How about they ditch the slowlane and get into the Fastlane BEFORE they turn 67!"
Someone mentioned the 401k's. And that's when she went into the spiel about putting money into your 401K, comparing donation amounts and waiting 20-30 years to finally get something close to maybe 300-400 thousand dollars when you retire. Some people were going WOW, and had these amazed expressions on their face. And then she singled me out and said that if i put aside five grand in a ROTH 401K i'd be a very happy camper in a few years. I almost laughed at her. I could swear I could almost hear MJ blowing raspberries whenever she made what seemed like a valid point that amazed everyone.
I walked out that room shaking my head going, everyone in that room is stuck in the Slowlane FOR REAL.
Well except for my friend. She hasn't read TMF but she's of the same mind to own her own business and create something of her own that pays her first.
If I hadn't read TMF when I did, i probably would have been caught up in the spell of "Retire when you're 70 with 300,000!!!" Smh, I need to get out of this slowlane. And fast. But the RIGHT way.
Anyway, just wanted to share that eye opening experience with you guys.
Thanks for reading!
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