Here’s a quick note on Social Security. I mean really, the same people that buy $200 hammers and $500 toilet seats are in charge of peoples’ retirement? Sorry buddy, I don’t see it being there much longer. 20-somethings…when you get your first real job (by real I mean a job with benefits) go ahead and throw 10% into your 401K (or 403b). You can’t miss what you never had!
Let’s back up a second. My wife and I live on the ten, ten, eighty philosophy. 10 percent to God, 10 percent to savings and live on 80 percent. We started doing this as soon as we married and God has definitely been good to us. This is the only time I can think of in scripture when He actually says to test Him. “Bring the whole tithe into the storehouse…Test me in this and see if I will not throw open the floodgates of heaven and pour out so much blessing that you will not have room enough for it.” (Malachi 3:10)
There’s a little more insight for you. Go for it! Start saving now! Heck, if you are great at it you may even get to retire early. This is also a great reason to have a core group of friends, more on that next time.
3 comments:
Intriguing thought’s Brian…. You may be thinking what’s an old 31 (almost 32) year old man on such a young 20 something man’s blog for….? Wisdom!
Just kidding. The old 80/20 has been a blessing in my family’s life as well. For almost 5 years my wife and I have faithfully given a minimum of 10% and saved 10% & God has blessed us tremendously for it.
Unfortunately, I think your right about SS. I think it’s wise to save early & save now! Prepare for the future while we’re young at least for those of us that can still make that Claim. I think I’m border line?
I agree with nagel, it never hurts to prepare. Check out this blog, they often have some interesting links and ideas.
gimmetruth
I think so many of us in our 20's and 30's graduated from college and thought, "Hey, my parents have a great house, nice cars, etc. I think I want my life to be just as kosher on my own as it was when I lived at home." So, we spend money we don't yet really have (via credit), and we end up with a lot of stuff we don't really own. Then we are so busy trying to pay for all of that "stuff" and can't live by any principle but the paycheck to paycheck variety.
My point is this: 80/10/10 is fabulous. My husband and I live by it with ferocious vigor, but many people in our age group need to stop charging life so the 80/10/10 can happen. Otherwise, we'll be working into our 70's (or longer)--regardless of social security!
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