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Sanrith Descartes

Sanrith Descartes

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wormie said:
I am only down 11% on my shitty 110 shares of DIS. There will soon be a day when that position is green.
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hold GIF
 
Sanrith Descartes

Sanrith Descartes

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Apparently lesbian shoes may not be such a great business model.

BIRK down 13% on IPO day.
 
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Jysin

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Daidraco said:
3.2% is another ~$475 bucks on the low end for the year iirc the bottom payout amount correctly. No idea how people live off ~$14,840 a year in the first place, but compared to what they were making when they were employed, after taxes, its not that much of a difference. I still think its bullshit that Ill only get something like $34/35k a year when I retire. (The roof of it is what, 39k at like 150/160k a year?) Whatever age that may be, probably something like 72 by the time I get there. I feel like I should have stayed in the military and retired as an Officer, as I could have qualified at the beginning of last year if I had stayed in. But on the other side of that, Ive made far more money as a civilian and the properties I have will pay me back more money than army retirement. Oof.. I hate thinking about getting old.
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This is partly why there is a retirement crisis for GenX+ generations. When pensions basically went out the window, too many thought Social Security was supposed to be the entirety of their retirement and will be surely disappointed. The sad thing is, 401k type contributions take a hell of a lot of self discipline and, due to the nature of compounding interest, that self discipline is most important early in your career. Most earners in their early 20s are still chasing stupid cars and other frivolous spending and even most of the thrifty are still trying to pay off student loans & scrape together a deposit for a house. The simple fact is, many start FAR too late in putting away 401k savings and never meaningfully catch up. There are reports put out every year on median 401k savings and the numbers are shockingly bad.

The truth is, social security was never intended to be the sole source of income for retirees.

My 401k is about 20x my median age group and I still worry if I have enough put away!

Screenshot 2023-10-12 at 7.16.14 AM.png
 
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Kiroy

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Jysin said:
Priced at $46 and opened at $41. Immediately thought to myself: "who the fuck still buys these shoes?"
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I'm pretty familiar with them due to our family business and they have broken out of their dirty hippy/sock wearer/lesbo background and resurged as popular for young adult and middle aged woman. It's not just sandals anymore. Their clog style "boston" line is incredibly popular. Overpriced if you ask me but they sell well.
 
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Jysin

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Kiroy said:
I'm pretty familiar with them due to our family business and they have broken out of their dirty hippy/sock wearer/lesbo background and resurged as popular for young adult and middle aged woman. It's not just sandals anymore. Their clog style "boston" line is incredibly popular. Overpriced if you ask me but they sell well.
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Bloomberg article this morning talking about the failed IPO and just happened to casually mention that their 2023 revenues year to date are 20% lower than the previous year over the same period. Doesn’t sound great to me.
 
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Sanrith Descartes

Sanrith Descartes

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Jysin said:
This is partly why there is a retirement crisis for GenX+ generations. When pensions basically went out the window, too many thought Social Security was supposed to be the entirety of their retirement and will be surely disappointed. The sad thing is, 401k type contributions take a hell of a lot of self discipline and, due to the nature of compounding interest, that self discipline is most important early in your career. Most earners in their early 20s are still chasing stupid cars and other frivolous spending and even most of the thrifty are still trying to pay off student loans & scrape together a deposit for a house. The simple fact is, many start FAR too late in putting away 401k savings and never meaningfully catch up. There are reports put out every year on median 401k savings and the numbers are shockingly bad.

The truth is, social security was never intended to be the sole source of income for retirees.

My 401k is about 20x my median age group and I still worry if I have enough put away!

View attachment 494743
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On a personal note, one thing I have learned watching people I know die way too early, saving for retirement is important but not to the extent you dont enjoy life on the way. Not much worse than missing out on life saving every dime to enjoy in retirement only to die in your 40's/50's. As in all things... moderation.

ps.. One of the keys (in my opinion) to having enough to retire is owning your own home. Be it a house, condo or whatever. Not having that nut each month removes a sizable chunk of your annual retirement costs.
 
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Sanrith Descartes

Sanrith Descartes

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Patience with GOOGL finally paying off. I started this position in Jan of 2022. Back when the price was $2600.
 
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Blazin

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Sanrith Descartes said:
On a personal note, one thing I have learned watching people I know die way too early, saving for retirement is important but not to the extent you dont enjoy life on the way. Not much worse than missing out on life saving every dime to enjoy in retirement only to die in your 40's/50's. As in all things... moderation.

ps.. One of the keys (in my opinion) to having enough to retire is owning your own home. Be it a house, condo or whatever. Not having that nut each month removes a sizable chunk of your annual retirement costs.
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Good post Sanrith Descartes Sanrith Descartes My wife's mother died a year before retirement and this has certainly affected some decisions for us. Still don't think full YOLO is wise but we do need to occasionally temper our inner squirrel .
 
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C

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Blazin said:
Good post Sanrith Descartes Sanrith Descartes My wife's mother died a year before retirement and this has certainly affected some decisions for us. Still don't think full YOLO is wise but we do need to occasionally temper our inner squirrel .
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Yeah, my mom died at 53 clipping coupons so that she could take that three-month, five-star European tour when she retired. Get your financial situation straight so that you wouldn't regret anything with a random shitty ending.
 
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