When I was young and stupid. . . yeah, it’s going to be one of those types of posts.
I was in my 20s and I was changing jobs. I had been with my employer for a few years and they had a good profit sharing program. If the company did well, they would add additional funds into everyone’s 401K accounts. I was a twenty-something and retirement was the furthest thing from my mind. So when I switched companies, I completely forgot about this account. I later received a letter in the mail informing me that the account balance was below the minimum and needed to be moved to another retirement account. I was so busy at my new company, I totally forgot about it until a check showed up in my mail box. All I thought about was free money! Vegas, anyone?
Needless to say, I had a great “free” weekend in Vegas and blew the entire wad at the blackjack tables. I chalked that up to having a great weekend, but it later came back to haunt me come tax time. Who knew (everyone except me, apparently) there were penalties for early withdrawal from a retirement account? What? Pre-tax now becomes taxable? What? I now owe taxes? That was a tough lessen to learn and at a minimum, was 100% stupid. If I at least used that check to pay down my student loans, then maybe I’d only be 50% stupid. At least I would have gained some benefit. Dumb, I know. You don’t have to remind me.
Fortunately, the young and stupid in me is now the older and not so stupid and I’m more responsible about saving for retirement. As you get older, thinking about retirement can be overwhelming. I listen to quite a few podcasts and try to read articles as well. This has helped my knowledge base and I feel a little bit more in control. A little bit. Everything helps. I wonder why there weren’t any classes about personal finance growing up. I feel like we were left to fend for ourselves to get up to speed. My retirement goal is about ten years down the road. That’s the timeline for now, but I know to be flexible because you never know what life will throw at you. I’ll keep visualizing sitting on a beach with a good book to read in one hand and an ice cold adult beverage in the other. That should keep me motivated.
Sheryl Crow had one of her first breaks on Late Show with David Letterman and sang Leaving Las Vegas. The song came out of the “Tuesday Night Music Club,” a gathering of Los Angeles musicians who got together on Tuesday nights to write songs.
Crow’s performance earned her an interview with the host, who told her it was a great song and asked if it was in some way autobiographical. Crow replied, “yes, actually” and went through some banter with Dave about how she’s never lived there but has lost a lot of money in the city. Crow explained:
“Originally, the song was very metaphorical for Los Angeles. People move there with these great dreams and they wind up being very disillusioned. That’s what Las Vegas seems to exemplify.”
Dave then asked the perfect follow-up question: “Then why didn’t you call the song ‘I’m leaving Los Angeles,'” to which Crow replied, “I have too many friends there.”
– SongFacts
The glitz of Las Vegas used to pull me. The good thing about getting older, you outgrow certain aspects of your life and leave them by the side of the road. I still enjoy Las Vegas from time to time, but I don’t yearn for it like I used to. I will tell you – it’s difficult to describe the feeling of driving four hours home without a penny in your pocket. There is a mix of emotions. Tired from lack of sleep, remnants of the thrill of the double down that got away, slightly hung over, the sound of laughter with friends echos in your head, the emptiness of your pockets and soul keeping you company on the long drive home. Even though I don’t miss that long drive home, I’d be lying if I said it didn’t still make me smile a little bit. Damn that Vegas.
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Life springs eternal
On a gaudy neon street
Not that I care at all
I spent the best part of my losing streak
In an Army Jeep
For what I can't recall
Oh, I'm bangin' on my TV set
And I check the odds
And I, and I place my bet
I pour a drink
And I pull the blinds
I wonder what I'll find
I'm leaving Las Vegas
Lights so bright
Palm sweat
Blackjack on a Saturday night
Leaving Las Vegas
Leaving for good, for good
I'm leaving for good
I'm leaving for good
Used to be I could drive up to Barstow for the night
Find some crossroad trucker to demonstrate his might
But these days it seems that, nowhere is far enough away
So I'm leaving Las Vegas today
I'm leaving Las Vegas, oh
The lights so bright
Blackjack on a Saturday night
I'm leaving Las Vegas
I'm leaving for good
I'm leaving for good
For good
I'm standin' in the middle of the desert
Waitin' for my ship to come in
But now no joker, no jack, no king
Can take this losing hand and, and make it win
I'm leaving Las Vegas, oh
I'm leaving Las Vegas
For good
For good
I quit my job as a dancer
At the Lido des Girls
And they're dealin' blackjack until one or two
Such a muddy line between the things you want
And the things you have to do, oh
Leaving Las Vegas
Lights so bright
Palm sweat
Blackjack on a Saturday night
Leaving Las Vegas
I'm leaving for good
I'm leaving for good
Oh, I'm leaving Las Vegas
The lights so bright
Palms sweat
Blackjack on a Saturday night
I'm leaving Las Vegas
I'm leaving for good
I'm leaving for good
Oh, I'm leaving Las Vegas
Lights so bright
On a Saturday night
Leaving Las Vegas
And I won't be back
No, no
No, I won't be back
Not this time
I’ve never been to Las Vegas, but I think I can understand the draw – and the regret. “the emptiness of your pockets – and your soul – keeping you company on the long drive home” is a great line. Ouch on the retirement money.
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They were fun memorable weekends. It was a good lesson to have. It made me wake up a bit!
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“I wonder why there weren’t any classes about personal finance growing up.” Indeed! I feel like I am just now learning about personal finances as we are tackling our debt. My mom and I lived in Vegas for a brief time when I was very little. I only have one memory of it and it wasn’t terribly significant. I had an obsession about moving there for a time when I was a teenager after watching Showgirls one too many times (who knows why?). Back in 2013 we went on a couple of cross country road trips and Nevada was one of the saddest states we drove through. I couldn’t wait to get out of there.
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There are a lot of good podcasts out there. I’ll listen them on walks or cleaning the house. It’s never too late. It’s great you are aware and working on it. Keep it up!
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Never been to Vegas, but I’ve been to Reno a few times. I had a strict budget though. I went in with a certain amount of money (not everything I had, of course, I needed gas money to get back), and if I lost that, I was done. If I won that amount back, it went into my pocket and stayed there. Then I could win or lose with whatever was left. ^_^
I also had that hard lesson with early retirement account withdrawal. Luckily for me, my “retirement account” didn’t have much in it. Ha!
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Strict budget is the way to go! Just need enough to have fun. I always hope to break even. That’s a good trip!
Ah, I feel you on the withdrawal. Good thing mine wasn’t much either!
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They have casinos here in New Mexico, but I haven’t been. Gambling was something I did when I was younger. 🙂
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i went to vegas in july. hadn’t been there for about 5 years. but it’s changed a lot! or maybe i’ve changed?? nice post, nice song! 🙂
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Probably a little of both!
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You lived your life and you learned a lesson. Maybe if you didn’t go to Vegas at that age, you’d regret it now and feel like you missed an opportunity of being in Vegas during your 20s. So think about it as a wonderful moment and not a stupid mistake. 😉🌷
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Yes, You are exactly right! I have a lot of good memories and it was fun. Good thing to learn my lesson at a young age. Thanks for your comments. Much appreciated!
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We WERE left to fend for ourselves. Instead of history, we should be learning personal finance. 🤣
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Amen!
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Thanks for sharing 😊
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I say, live it up in your 20’s because life just gets harder from there! Then you can learn from any mistakes you made. I’ve never gambled in Las Vegas, but I have made my share of poor decisions. Kudos to you for getting back on track for retirement!
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Thank you! Such great advice. I’ve made plenty of mistakes in my twenties. I think that’s why they are there! I appreciate the kind words.
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