I also help educate coworkers. Specifically many don’t know about our 401k’s mega backdoor Roth option. If someone mentions maxing out their 401k, I probe a little deeper and have yet to find one who was actually maxing out the mega option. I don’t tell them to do it, but I give them a rough description of what it is and encourage them to check it out and see if it would fit their needs or not.
Perfect, Jim! Like Joe and Big Al said, don't give people investment recommendations or tax advice, but sharing basic knowledge is a good thing! Thanks for helping your coworkers!
Here to answer your question, "Can I retire?". Simple Answer: No, everytime I try to build up to anything either something breaks and needs to be repaired/replaced or the governmant thinks its funny to do stupid shit which either has them dipping their hands into my bank account via IRS or them making the inflation worse which makes it harder to do the former statement as well as basic stuff like food and rent. This is also before we take into account that sometimes you gotta help ppl out which alrdy eats away at an alrdy small pie, or my person favorate SCHOOL DEBT, the kind you cant declare bankruptcy on and everyone gets sold it as a false bill of goods and a " right of passage". Wages arent keeping up either. You wanna know what a 6 figure salary in New York and Cali is called? Poor, which is fucked.
The options of "work longer, make more, save more, and/or spend less" are definitely challenging under those circumstances. Thanks for sharing this reality - we appreciate your perspective.
