The market...okay, my diversified accounts...are down 4% YTD. There are some heckuva good deals available...hand over the funds to a qualified broker. Sit back, eat your Pop Tarts, and let the grown-ups work.
Riis
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No NAD. Putting retirement money first?
- Thread starter BowserGriff
- Start date
The market...okay, my diversified accounts...are down 4% YTD. There are some heckuva good deals available...hand over the funds to a qualified broker. Sit back, eat your Pop Tarts, and let the grown-ups work.
Riis
“Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it." Attributed to Alert Einstein.
I didn’t start seriously saving for my retirement until I got out of grad school and got a corporate job, at around your age. I’m now retired reasonably comfortably with enough resources, but I do wish that I had saved even more just in case.
Kudos to you for taking the first step. Keep at it. If I may suggest, if you have a job with an employer match for retirement account, such as a 401K or equivalent here in the US, take full advantage of it. Then put away even more, if you can. Good luck.
I didn’t start seriously saving for my retirement until I got out of grad school and got a corporate job, at around your age. I’m now retired reasonably comfortably with enough resources, but I do wish that I had saved even more just in case.
Kudos to you for taking the first step. Keep at it. If I may suggest, if you have a job with an employer match for retirement account, such as a 401K or equivalent here in the US, take full advantage of it. Then put away even more, if you can. Good luck.
Down 6% YTD here, still up 8% past year though. Still chugging along (historically speaking).
To play devils advocate, there's no guarantee you're going to see retirement. Life can have whatever plan it wants for you and you have little to no control over that. That being said, I applaud your efforts and smart thinking
Another option, look for a Fender Bassman 100t or Bassman 500/800 hybrid in the used market. I just bought a Super Bassman retail and it's not cheap, but I've had the 100t and it was plenty for what I need but I sold it as I do most things in search of other things. If you look for used you can pay half or less of what a Super Bassman costs retail.
Another option, look for a Fender Bassman 100t or Bassman 500/800 hybrid in the used market. I just bought a Super Bassman retail and it's not cheap, but I've had the 100t and it was plenty for what I need but I sold it as I do most things in search of other things. If you look for used you can pay half or less of what a Super Bassman costs retail.
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 meeither 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.
Congratulations on prioritizing a distant, but important goal. These kinds of tradeoffs are difficult because there isn't any instant gratification or reward. That said, age has a way of moving forward. I'm now 59, and I'm still amazed sometimes how quickly the time went by. Retirement, or the future more broadly, comes for us all. Your future self will thank you. To be clear, this is TB, and the correct answer is always to respond positively to GAS, but it seems like you have places to go to in the short term to scratch your itch temporarily.
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Funny stuff, you really put that amp in layaway while you try to find a new credit card with a higher limit.
Whole countries exist in debt, why shouldn’t you live for the day?
Pick up a couple new basses and pedals while you are at it, stores love to bundle gear for high roller customers.
YOLO!
Whole countries exist in debt, why shouldn’t you live for the day?
Pick up a couple new basses and pedals while you are at it, stores love to bundle gear for high roller customers.
YOLO!
I always figured if I (a small scene bass player / glassblower) can save, anyone can!
I have become a big fan of saving up for stuff. Nothing beats that feeling when it's time to update your phone / computer / car etc and instead of being up a creek without a paddle, you got what you need all ready to go. It's amazing what $25/mo can do over a few years.
As far as tube amps to, I've found that the right 50 watt unit can keep me satisfied (in a way only tube power has been able to thus far) without breaking the bank – or the back.
I have become a big fan of saving up for stuff. Nothing beats that feeling when it's time to update your phone / computer / car etc and instead of being up a creek without a paddle, you got what you need all ready to go. It's amazing what $25/mo can do over a few years.
As far as tube amps to, I've found that the right 50 watt unit can keep me satisfied (in a way only tube power has been able to thus far) without breaking the bank – or the back.
I started a (custodial) Roth IRA at 15 and have max out my 401(k) every year since I had real jobs. My retirement is set, if I live that long 
… no more motorcycles or single engine airplanes in my future.
Now I spend my fun money on pedals and amps
… no more motorcycles or single engine airplanes in my future.Now I spend my fun money on pedals and amps
I would like to politely chime in. I am near the OP's age and I enjoy investing and personal finance. I want to say that while the advice above is good (summary: don't overspend on food or tech), it is a bit short-sighted. The largest expenses for most modern humans are housing and transportation. "Quit spending money on avocado toast" is good advice, but it only goes so far when the costs of housing and transportation have far outpaced wage growth for decades, at least in the US. I hope for OP's sake the that situation is better in Japan.
I don't want this to sound like an argument, I just think it's important to recognize the facts. The average worker in any industry makes less for work and pays more for housing and transportation (when each item is adjusted for inflation) than almost any time in the last 10, 20, 30, 40, 50, 60, 70 years.
I didn't even mention the cost of education...
Best wishes to all, and happy to discuss openly or privately.
The US housing problem is, and has been a local zoning ordinance one, thus largely political. It’s a matter of how a community wants to utilize the available land in an equitable and fair way.
This ties into transportation costs as well, though the connection is not as obvious.
By the time you can afford it, your fingers and ears will have figured out how to get "punch" out of any amp. And a smaller amp is related to both the cost of housing and transportation. 
Amen to that. I'm a few months away from 65 and unemployed (thanks private equity for buying the company I worked at for almost 20 years Grr.). I'm planning on giving up the job search when I'm 65 because nobody is gonna hire me in my field at retirement age. Our house and cars are paid off and we don't have any appreciable debt. We socked away a decent amount of money, We still have some non utility bills, but not too many.
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BowserGriff,
I’m going to assume you are not playing out?
If you are, save what you make on the gigs. Back in the 1980s, I had a steady Sunday night gig that paid me a whopping $30. At the end of the year, that added up to $1560. When I started getting better paying gigs the money piled up a lot faster and that plus buying used only let me get some really nice gear over the years.
I’m going to assume you are not playing out?
If you are, save what you make on the gigs. Back in the 1980s, I had a steady Sunday night gig that paid me a whopping $30. At the end of the year, that added up to $1560. When I started getting better paying gigs the money piled up a lot faster and that plus buying used only let me get some really nice gear over the years.
So....at an older age than you, because I saved money for most of my career, I can (being retired) eat good, human food, live in a nice place, and I can afford to buy any amp I want.
But.....literally all my gigs (I do play a lot) are ampless.
But.....literally all my gigs (I do play a lot) are ampless.
EdwardofHuncote
I Still Dream of Jeannie
- Aug 21, 2013
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- I privately own and operate a local musical instument repair shop.
Oh Man what I wouldn't give to have 38 back and be able to put away more than I did. Listen to me; It's never too late to start.
I retired from public service last year. I started working in it when I was 18, took two years off to play music in my mid-20's and went right back in. I was eligible to draw a pension at age 55 with more than 30 years of service. In addition to that, the utility I worked for allowed me to deposit in a 457 plan (this is a pre-tax deferred compensation plan, much like a 401-K) and they matched 100% up to $30 per pay period. Basically free money. I did that for the last 23 years. (I'd have put more of my own in it too... but I did something else... wait for it) Upon retirement, I had literally hundreds of hours in unused paid leave, sick leave, holiday pay, time that I simply did not have time to use up when working. I was able to roll every bit of that into my 457, rather than take a ca$h payout and eat the taxes. It was a huge bump.
So all these years, what did I do with what I should have invested? Well... I paid off a 30-year mortgage in 20 years. The money I spent on gear... this past year I made some hard decisions about what really meant more to me, and I put a bunch for sale. I converted those assets back to cash and deposited that too. Now am I just retired and watching grass grow, and keeping up with Jeannie's honey-do list...? Hail no. I get up in the morning and work on guitars... repair and setup work, right here in my own shop. Make decent money doing it too. I can live very comfortably (albeit simply) on my pension. My little part-time job fixin' guitars keeps some cash in my pockets and one day when I need to take a dispensation, that 457 is still there. Or I may move it to something more advantageous.
So get started saving for your retirement. Amps and gear will come and go.
I retired from public service last year. I started working in it when I was 18, took two years off to play music in my mid-20's and went right back in. I was eligible to draw a pension at age 55 with more than 30 years of service. In addition to that, the utility I worked for allowed me to deposit in a 457 plan (this is a pre-tax deferred compensation plan, much like a 401-K) and they matched 100% up to $30 per pay period. Basically free money. I did that for the last 23 years. (I'd have put more of my own in it too... but I did something else... wait for it) Upon retirement, I had literally hundreds of hours in unused paid leave, sick leave, holiday pay, time that I simply did not have time to use up when working. I was able to roll every bit of that into my 457, rather than take a ca$h payout and eat the taxes. It was a huge bump.
So all these years, what did I do with what I should have invested? Well... I paid off a 30-year mortgage in 20 years. The money I spent on gear... this past year I made some hard decisions about what really meant more to me, and I put a bunch for sale. I converted those assets back to cash and deposited that too. Now am I just retired and watching grass grow, and keeping up with Jeannie's honey-do list...? Hail no. I get up in the morning and work on guitars... repair and setup work, right here in my own shop. Make decent money doing it too. I can live very comfortably (albeit simply) on my pension. My little part-time job fixin' guitars keeps some cash in my pockets and one day when I need to take a dispensation, that 457 is still there. Or I may move it to something more advantageous.
So get started saving for your retirement. Amps and gear will come and go.
True.
In the US, Japan, and most places there are a myriad of unwanted or abandoned homes in places that no one wants to live, and that is truly devastating for folks and owners in those areas. However there are also places where people DO want to live.
I would not recommend a place no one wanted to live unless I had some extremely valuable privileged data, or a REALLY smart business plan.
My point, knowing nothing about the OP is: If you are still renting or are only partway into a mortgage when you retire, you may be screwing yourself.
If a lack of a downpayment is what is stopping you, then you just have to prove yourself to someone who would also benefit from your passion.
But more importantly, one must understand that a $2000 tube head WILL NOT make your life, or your bass playing any better.
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Lots of good advice here.
Save and invest and put your money to work.
Compound interest makes time your friend. Check out a compound interest calculator online and see what a small amount can grow Into over time.
Save and invest and put your money to work.
Compound interest makes time your friend. Check out a compound interest calculator online and see what a small amount can grow Into over time.
Down 6% YTD here, still up 8% past year though. Still chugging along (historically speaking).
I like graphs. I'm at a crossroads as I'll probably having to start withdrawals to supplement my SS pension in 4 months or so...bad timing. On the plus side, I have a secondary account to cannibalize during some component of the recovery.
Riis
Since this thread is mostly financial advice, I’ll toss mine in: buy used. With patience, you’ll be able to score a Fender SB 300 for half list or better.
Since we are in the amps/cabs sub, here’s some amp advice based on my experience: I know it’s a dream amp for you, and believe me, I know that calling, but that’s a lot of amp unless you’re playing larger stages. I have one, and it is hands down my favorite amp of all time. I am and always have been a tube head guy. That said, I haven’t fired up the SB since I stopped playing larger venues 5/6 years ago. Still have it, not gonna sell it, but for what I’m doing now 100 watts is all I need. But, that’s just me, YMMV.
Since we are in the amps/cabs sub, here’s some amp advice based on my experience: I know it’s a dream amp for you, and believe me, I know that calling, but that’s a lot of amp unless you’re playing larger stages. I have one, and it is hands down my favorite amp of all time. I am and always have been a tube head guy. That said, I haven’t fired up the SB since I stopped playing larger venues 5/6 years ago. Still have it, not gonna sell it, but for what I’m doing now 100 watts is all I need. But, that’s just me, YMMV.
I've turned 60 last year.
Do yourself a favour - don't do what I did and blow a shipload over 40+ years of gigging and recording (in Australia) on beautiful big tube heads and the king of them all, and the rarest of them all, the Fender 400PS. I started out with an old Bassman 50 tube head in 1976 (too quiet) moved up to the 70 (too quiet), went to the 100 (still too quiet), started touring, got an SVT 2 rackmount tube head (in a sleeve - too freakin heavy) played 7, maybe 800 shows with that - glorious, sold that when things went south with that band, got a Bassman 135 paired with two 15's (not too heavy and loud enough to compete with two clowns with Marshalls somehow all through the 90's and early 2000's) and then moved to England and have ended up with another 135, freshly serviced and man they are the best tube sound, are paired like fine wine with either a Telecaster Bass or Jazz or P and a ton louder than the Bassman 100 tube heads, with their ultralinear internals, sound awesome no matter what style you play and you can still find them for a decent price. They're so under-appreciated, but they go forever as long as you don't Hendrix the dials. The 4x12 "pyramid" cabinets are only good if you ditch the crummy 25 watt speakers Fender issued that cab with and replace them with something like the 75 watt ceramic mag speakers, which I did for quite a few years, but ultimately handbuilt the two 15 inch cabs pictured which are openbacked (1/3 open) and much louder and tighter than the old woolly pyramid cab. I literally only have to run the master and gain at threes when rehearsing or playing live - I haven't played 10,000+ sheds for years but the rig pictured above easily does long stages and big rooms up to 2500 punter capacity. While the Super Bassman is rad, my regular amp tech back in Australia convinced me not to go for one quite a few years ago as apparently they were unreliable and a pain in the rear to service, repair or get parts from Fender. I'm sure (or would hope) Fender have fixed those issues by now, but he loved the challenge of servicing my 400PS coz they're capable of blowing you through a brick wall if you touch the wrong things inside them at the wrong time, and they are literally like having three 135's jammed into the one head. But at 88 pounds dry weight I finally let go of it before moving countries, I'd got to the point where I'd choose the 135 to take to gigs instead of the PS it was so damn heavy and by that stage I didn't have a road crew to inflict it upon any more!
The 135's are easy to fix, when the original caps dry out they're easily replaced, tubes are always available somewhere on Earth and the two different channels on them give you more than enough tonal options to rock whichever way you want to. I am sure there are a lot of more modern tube heads that won't force you to commit crimes to be able to afford like the Super Bassman, but I have never bothered looking for them. The 135 is the thing that makes me happiest and I can still carry it one hand. Then back to the car for the two 15's...
