No NAD. Putting retirement money first?

[BowserGriff]

So, at 38 with zero money put away for retirement, as I've never really had steady income, I've made the decision to put buying a Fender super bassman (my dream amp) on hold. Instead im doing the 'right' thing by paying myself first and through retirement funds and investing. It's boring but has to be done.

However, I will be able to put some money aside to save up for a new amp. The super bassman is the dream but will take years to save up for. I could get a cheaper alternative if I can find something as punchy as it.

I REALLY like all tube heads. The SB300 blows my socks off everytime I play it, but it is also more power than I'll ever need.

Any suggestions? I like punch! And preferably all tube. Looked at the ashdown LB but haven't played it to see.


P.S. I live in Japan, and I went to the flagship store to play the SB300 a couple of months ago. Went back last week and the woman in the store remembered me either I absolutely sucked or she was shocked at someone who played a p bass with a pick and didn't slap da behs. Im going back with my own p bass with flats to try it out during the week so I dont get in anyone's way. The store is amazing! You can play any bass you want with no problems and a big smile from the staff.

 

[shoot-r]

You'll never regret saving for your retirement, especially when you get there.

 

[BowserGriff]

You'll never regret saving for your retirement, especially when you get there.

Yeah, and really im not at the age where it's last chance to see compounding work its magic, but im not far off.

Still have the itch for a new amp. It's the last thing I'll buy, I swear!

 

[bass player 53]

Yeah, and really im not at the age where it's last chance to see compounding work its magic, but im not far off.

Still have the itch for a new amp. It's the last thing I'll buy, I swear!

You are 17 years behind, and counting.

 

[gtirard]

You'll never regret saving for your retirement, especially when you get there.

Except is the stock market suffers a major crisis and savings vanish?

Seriously though, it's a wize decision. We should never sacrifice important things for gear, IMHO.

 

[DrBnz]

I'm worried for you. You need to stop messing around and plan for your future. If not, you're gonna be selling all these material things you acquire in life for food and rent money. That won't last long.

 

[iqi616]

You'll never regret saving for your retirement, especially when you get there.

Very true

 

[iqi616]

Except is the stock market suffers a major crisis and savings vanish?

Especially those people who panic and sell, thereby locking-in their losses

 

[bass player 53]

Except is the stock market suffers a major crisis and savings vanish?

Seriously though, it's a wize decision. We should never sacrifice important things for gear, IMHO.

Buy low, sell high. Your head will spin off if you take a serious look at the S&P 500 return over the last 100 years. The power of compound interest, low cost ETF funds, and investment dollar cost averaging are truly magic.

 

[nonohmic]

So, at 38 with zero money put away for retirement, as I've never really had steady income, I've made the decision to put buying a Fender super bassman (my dream amp) on hold. Instead im doing the 'right' thing by paying myself first and through retirement funds and investing. It's boring but has to be done.

However, I will be able to put some money aside to save up for a new amp. The super bassman is the dream but will take years to save up for. I could get a cheaper alternative if I can find something as punchy as it.

I REALLY like all tube heads. The SB300 blows my socks off everytime I play it, but it is also more power than I'll ever need.

Any suggestions? I like punch! And preferably all tube. Looked at the ashdown LB but haven't played it to see.


P.S. I live in Japan, and I went to the flagship store to play the SB300 a couple of months ago. Went back last week and the woman in the store remembered me either I absolutely sucked or she was shocked at someone who played a p bass with a pick and didn't slap da behs. Im going back with my own p bass with flats to try it out during the week so I dont get in anyone's way. The store is amazing! You can play any bass you want with no problems and a big smile from the staff.

Good on you. I didn’t really start properly putting $ away into retirement accounts until 36. And at 44 I’m “on track” according to the general rules. It can be surprising how quickly it compounds.

Start today and never stop buying low fee index funds.

You might consider a target fund which automatically shifts your risk profile for you as you get older. If you want to maintain more risk longer just set the target date 15-20 years beyond when you actually want to retire.

Set and forget and go play the bass without stressing about the market.

Or be one of these people that tries to play the market and spends their day stressing about it. I know which I’d rather do.

 

[dbsfgyd1]

So, at 38 with zero money put away for retirement, as I've never really had steady income, I've made the decision to put buying a Fender super bassman (my dream amp) on hold. Instead im doing the 'right' thing by paying myself first and through retirement funds and investing. It's boring but has to be done.

However, I will be able to put some money aside to save up for a new amp. The super bassman is the dream but will take years to save up for. I could get a cheaper alternative if I can find something as punchy as it.

I REALLY like all tube heads. The SB300 blows my socks off everytime I play it, but it is also more power than I'll ever need.

Any suggestions? I like punch! And preferably all tube. Looked at the ashdown LB but haven't played it to see.


P.S. I live in Japan, and I went to the flagship store to play the SB300 a couple of months ago. Went back last week and the woman in the store remembered me either I absolutely sucked or she was shocked at someone who played a p bass with a pick and didn't slap da behs. Im going back with my own p bass with flats to try it out during the week so I dont get in anyone's way. The store is amazing! You can play any bass you want with no problems and a big smile from the staff.

At age 73 and looking back at my life, my 30 year career of giving financial advice, the first step in solving a problem is taking the first step. I can give you two ways to come up with retirement money.

Stay out of restaurants and learn to cook. Japanese cuisine is fairly simple to make (although the presentation is going to take some developed skills to pull that off. LOL). Seriously, stir fry is easy to make, getting it to look attractive when cooked is another thing altogether different. But, keep in mind, at the restaurant that tab, only 20-25% is for the cost of the ingredients. The rest is the labor costs and over head. Assuming you have a place to stay, making your own food as opposed to buying on the streets ( and having been to Japan, there is zero shortage of places to eat and it’s all really good) making it yourself is a wise financial decision.

The other place is Telcom. Only buy what you need. There is no point in buying a new (which in most cases you are making time payments over years) phone every two years to get the the next one that comes with video capability to rival the Hubble telescope can burn through potential long term sayings. Mobile phones are expensive. I phones are getting upwards to $2,000. Swapping them out every 5 years instead of every 2 can save you thousands of dollars over ten years. Unless you are running spread sheets ( in that case buy an IPad instead) or you are a monetized internet star, cell phone are phones.

 

[2saddleslab]

Well done, OP!

The earlier you start to save the less you have to put away each time. Starting as early as possible + playing the long game = a happier, more comfortable retirement.

Can't stress this enough, also put money in a [HSA] Health Saving Account. You NEVER pay tax on it, it follows you wherever you go, & allows you to pay healthcare costs w/out it affecting your income level. Win/ win/ win.

 

[DanAdams]

I don't know about Japan, but in the US real estate ownership seems like the only way for regular folks to retire comfortably without devoting yourself to a lifelong grind...
Being endless creativie with DIY mindset may be needed.

If you are lusting for a big expensive amp, it may be because you are not busy enough.
The idle mind will create all sorts of problems and needs that don't actually exist.

 

[nonohmic]

Well done, OP!

The earlier you start to save the less you have to put away each time. Starting as early as possible + playing the long game = a happier, more comfortable retirement.

Can't stress this enough, also put money in a [HSA] Health Saving Account. You NEVER pay tax on it, it follows you wherever you go, & allows you to pay healthcare costs w/out it affecting your income level. Win/ win/ win.

That’s one vehicle I haven’t used. And I’m sure I’ve left some money on the table, need to look into it. Hopefully it follows you overseas

 

[Bass4ThePublic]

does japan do roth ira’s? Do that, and buy gold as well. I know gold bars are a boomery thing to do but think about it. Money is worth it’s weight in gold, so what happens if you own the gold?

 

[Bass4ThePublic]

As for amps I would get an ampeg v4b and the matching 2x12 cab, but only if you can buy it in cash.

 

[bass player 53]

I don't know about Japan, but in the US real estate ownership seems like the only way for regular folks to retire comfortably without devoting yourself to a lifelong grind...
Being endless creativie with DIY mindset may be needed.

If you are lusting for a big expensive amp, it may be because you are not busy enough.
The idle mind will create all sorts of problems and needs that don't actually exist.

In Japan, there are many (1000+ ?) abandoned houses that are selling for basically $1. However, folks that buy these properties are often overwhelmed by the expense of fixing the properties up, and the soul crushing Japanese bureaucracy.

 

[BigJohnAZ]

I don't know about Japan, but in the US real estate ownership seems like the only way for regular folks to retire comfortably without devoting yourself to a lifelong grind...
Being endless creativie with DIY mindset may be needed.

If you are lusting for a big expensive amp, it may be because you are not busy enough.
The idle mind will create all sorts of problems and needs that don't actually exist.

The way we have set ourselves up is our home is plan C if SHTF and we burn through our retirement and savings. We're not living like a Rockefeller, but, we are comfortable. One key is no bills other than utilities and property taxes.

I started late with my 401k, and even without maxing my personal contribution, it's making money, basically more than I'm taking, so it's still growing.

IMO, a liveable retirement is the ultimate delayed gratification. You don't want to be 65 and only $10k in the bank.

 

[beans-on-toast]

I never go into a music store with my wallet unless I’ve lusted over a particular purchase for literally years. You don’t want to be an ampaholic.

Even a small long term investment now can pay off well by the time you retire. Add to that every year and it accumulates. Speak to a financial advisor at a bank and come up with a plan.

 

[Pdaddy1978]

You will never, ever, regret saving and investing for the future.
And learning to be satisfied with what you already have.
Dreams are great...but hard to eat.