Having enough money to live comfortably and recreate to my liking without having to work. As far as details beyond that, I couldn't tell you. Never expected it'd ever happen for me unless a windfall comes my way, so I'll cross that bridge when I get there.
Probably worth clarifying that anyone lucky enough to have an 50% employer matched 401K is not getting unlimited 50% match. It's going to be 50% match up to X% of your salary. Usually 3-6% or something. So if you make 50k a year and your employer will match up to 5%, that means your employer will put in $2500 if you put in $5000 to your 401k. $2500 being 5% of $50k. If you put in $10k, your employer will still only put in $2500.
It's actually really nice to hear stories like that. I think many of us deeply wish we'd been in a place to invest more/better when we were younger and worry that we've lost our chance.
There are many of us who have no confidence that Social Security will be there for us when we retire. And if I were in my 20s? No way would I be able to count on a penny. We've gotten screwed by the politicians on both sides of the aisle stealing that money while they were distracting us with shiny culture wars. I do not understand how we as a country allowed that to happen. Now all we hear is "reduced benefits" or "raising the minimum retirement age to 70". We've known this was coming for many DECADES and nobody did anything but keep letting their palms get greased by lobbyist money. Politicians suck.
I can also link articles of a similar nature from 2013, 2016, 2018, etc etc - Not saying it'll go on forever, but I've read countless "end of crypto" articles over the years.
All that said, I know very few people who have gone wrong playing index fund game. It's not flashy and you won't hit the jackpot. But decades of history say you'll do fine if you have enough time to ride out the bumps.
It's given my wife and I a decent retirement. We couldn't even start until the kids left. 25 yrs. of dedicated activity paid off..
Not to sound condescending, but I don't think you have enough of an understanding of what this is all about based on your statement there.
I'm laughing with you, not at you. I didn't start earning a decent salary until my 40s. I'm 52 now and trying to build up my 401K, but there is not nearly enough in it. My hope is that the stocks in the 401K that I getting cheap now will take off sometime before I retire, whenever that is.
My point, with sacrifice people can put themselves in a very good spot saving and investing in a traditional way, even today. It might take making less traditional life choices though. Easier said than done I know. Not everyone is able or wiling to make the choices we did.
+1
