/biz/ - Business & Finance

>Just buy the top anon!

>>15460329
somebody has to pay for their pensions

hhahahahah

>>15460329
>>15460400
>But anon, you can write off your taxes NOW for all the money you are investing in your FUTURE!
>It's a win-win!

boomer parents want me to put money down on a house to rent out

If you're not contributing at least 7-8%, you are not going to make it.

Itt crybabies

Keep crying how you wont invest in a 401k which buys you a share of food companies, software companies, medicine, real estate, etc


All these things you children rely on, and yet you buy shit coins, like brap,xrp,and lite.

Good luck holding some Russians or chink bags

Lel 401ks are Ponzi schemes

Keep it decentralized and buy link

My whole 401k is in money market until we still at least a 25 percent correction. There's no way I'm getting scammed into paying to prop up the inflated market so some asshole can cash out at the top

>>15460329
i mean at this point you will be holding link for 40yrs so i dont see the problem

>>15460484
>>15460472
Less than 2 min for some pimply faced beta to plug his shit coin and convince you to not invest in a future.

Your both never gonna make it

>>15460329
protip anon

pick your bags and hold and trade them

do this for at least 2 years and I practically guarantee you will outperform all the 401k fags even if the boomer market doesn't crash

>>15460329
My boomer boss told me the 401K plan at their work was a great idea, the company paid up to 3% of your total paycheck and backed you 100%. The catch? You had to stay working for the company for 5 fucking years or they remove their half of the contribution. Needless to say I opted not to do it, also opted out of healthcare and all in on link

fuck boomers

>>15460527
yeah bro you’re gonna make it with your 401k
LOL

>>15460329
in a 404 not found

>>15460484

How is it a ponzi scheme? It's a tax free brokerage account that invest in an index fund or company stock. added bonus is the company match which usually gives you a 100% return right away. Morons like you will unironically never make it.

>>15460529

Protip if u want to gamble and speculate it's alot easier to play roulette at a casino.

>>15460579
I have a net worth close to 600k in total. All stocks, paid off house, no debt and a 815 fico.
Under 30 yo.

Keep buying bitcoin or alt shit coins like brap.

Check back with me in 20 years and we will see who is the muti millionaire.

I'm about 7 years away from my first million

>>15460705
you're an idiot if you're comparing being a casino customer with an investor

>>15460728

You're investing in shit.

>>15460527

This is /biz/ where your 401K is a scam but my internet coins will make me rich any day now.

>>15460547

>5 year vesting period for a 3% match

That actually fucking sucks

>>15460735
how do you know?

employer matches you dollar for dollar up to a certain percent of your income, so say they match 4%, you DOUBLE your money

penalty for early withdrawal is what, 10%?

easy decision

>>15460748
If your shitcoins had an actual working product they would have venture capital funding. You're being scammed. anything outside of bitcoin is garbage and even bitcuck is barely usable.

>>15460529
my 401k is up 16%, most crypto kids here are down 90% unless they bought LINK

Can someone explain to a brainlet like myself what I should be doing with my 401k when we are heading for a recession? Currently, I have the plan selected that is aggressive. I could pick my own or choose from a few tiers so I went more on the aggressive side.

Should I switch to a more conservative tier? I really don't know much about this but figured I may as well get that tax free money with a company match when I started this job. I contribute around 13% I believe.

>>15460782

Leave it the fuck alone and continue contributions. You're not a fund manager and you're not gonna time the market.

>>15460696
Matched IRA > IRA > any 401k
I'm speaking to the wind with this though.

>>15460810

You can have both you cuck

>>15460769
you're cherry picking a time frame that suits your argument

zoom out and compare the various markets
also the past does not predict the future

>>15460737
The whole of a ponzi scheme is that SOME people need to get rich for the whole system to work. New suckers are needed and bigger suckers are needed to hold bigger bags

>>15460765
I'm only against buying index and mutual funds, not winners in any market

>>15460721
If u buy brap you can make it in under 1 year BRO

>>15460782
>heading for a recession
No one can tell, China had no recession for 25 years.

Buy a cash or treasury fund if you are a pussy

>>15460839
Cool story bro, I'm gonna go flip burgers and buy some BRAP bro, we are all gonna make it

>>15460822
That's why it's ">" and not "≥"

>>15460823
>zoom out

lol

>past does not predict the future

True but if the U.S fails the world fails

>>15460865
yes now overlay that with bitcoin

>>15460823
idgaf

people are getting rekt here, not outperforming vanguard index funds, get fucking real

your advice is shit

>>15460746
Yea I know, my company is the shining example of mediocre

Everything from the terrible benefits (if you can even call them that) to the vacation time, all the way to the "annual reviews" that only happen twice every ten years. It's the very picture of "slightly less than average company"

>>15460872

Bitcoin produced nothing of value, has no use case(merchants or venders), people are only purchasing in the hopes that someone else buys at a higher price, costs too much to buy and the network freezes up when there's too much traffic. Fuck bitcoin.

>>15460876
if you bought in 2018 that could be, bitcoin had a 85% correction from 2013-2015 as well, then went up parabolic from there

>>15460516
>Watches the market go up 10% without a crash
>Watches the market go up 20% without a crash
>Watches the market go up 50% without a crash
>"Surely it will crash soon," says an increasingly nervous man to himself for the ten thousandth time
>Finally it crashes 10% from the recent ATH. "Here's my moment to shine," he says. "We'll be down another 40% or more by the years end.
>Suddenly Jerome Powell's voice emanates from the television, anouncing an immediate emergency round of quantitative easing and further interest rate cuts
>Stocks rally and soar to new all time highs
>Stocks never go down ever again. It's a perpetual bull market with 15% growth year after year, despite an only 2% "inflation rate"

Yeah, idiot. If a crash is just around the corner, then the worst that happens is your $5,000 balance in your 401k is down probably temporarily while you have the opportunity to buy cheaper fund shares with your future contributions. Idiotic strategy.

Also,

>gay rice

Nice choice of post ID. Says a lot.

>>15460810
MOAR YUMMY MUMMY!!!

>>15460896
mah nigga

>>15460892
yes I'm sure those 342,000 transactions today produced nothing of value, especially for those citizens of tyrannical and oppressive governments

>>15460932

Those transactions are day traders scalping the price from other scalpers. Fuck off. Maybe you if you invested as much time in a practical skill as you did meme money you'd be better off.

>>15460329

BUY BUY BUY MORE LINK

YES BUY BUY MORE MORE AND MORE LINK

PLEASE BUY VERY GOOD TOKEN

YES

PLEASE BUY MORE LINKE

>>15460938
so you honestly believe it is producing exactly zero value for the whole of humanity when governments around the world are taxing and regulating free commerce as we speak?

>>15460954
>governments around the world are taxing and regulating free commerce

That's the price to pay for living in a modern society. Money is simply a medium of exchange that should be in circulation or investing assets. Not hoarded in a bank account.

>>15460696
Because when you're 70 and start pulling out you are taxed 20%. That is a scam

>>15460980

Mines tax free provided it stays there until retirement. Nice try though.

>>15460980
You are taxed at 20%. Just how much are you planning to withdraw in a given year, you greedy, greedy, man?

>>15460728

Absolute brainlet

>>15460329
>>15460472
Nobody stays with a company for 40 years

>>15460876
>people are getting rekt here\

Only newfags like you perhaps. I'm not even an oldfag but I'm still up over 100% on my investment. Bought BTC for 5K and sold it at 8K to go all in on [REDACTED]

>>15460980

>Put money in 401K
>Company gives 50% match
>Get taxed 20%
>That is a scam

Not everyone can be good at math.

>>15460974
you'd be surprised how much more powerful a black market economy would be

>>15460329
They don't match yours? What do you work for.. gamestop? Hell I bet even they match your investment.

Stay poor

>>15460446
With a rental property you can usually charge 1.5-2% of the property value as rent. A safe 1.5% monthly return on your money is pretty good especially if you continue to reinvest into even more rental properties.

>>15461180
Its very hard to get a property that pays out 2% monthly right now unless you are buying in D class hoods (no thanks). Lots of people are settling for 1% or ever less for areas with low hassle tenants. Property market seems like it is about to tank though, so it would be good to keep some capital available when it does.

>>15461180
more like 0.5% in California
you're retarded not to rent over here

I have a plump 401k and a 10k link stack, enjoy serving me my Pepsi when I am chilling at the yacht club as a 55 year old billionaire boomer legend

>>15460721
>600k
>7 years from first mil
Not adding up chief

>>15461024
>Company gives 50% match


I need a better job holy shit.

>>15461362
What? 50 or 100% is the norm

>>15461435
Not having a 401k at all is the norm actually. I work for a large company and they only do a 5% annual match MAX. Their benefits in general aren't that great, but it's better than nothing. They match about half my contribution per check but that's because I deposit 10% of my wages.


If I don't keep getting promotions and raises I won't ever get close to the 19k annual limit.

>>15460980
The money going in comes out of your paycheck before taxes though. Honestly how are you this retarded?

>>15460782
Idiot. Get all your money into Bitcoin. How is this not obvious to you by now? You’re fucking helpless anon.

>>15460938
trades don't happen on chain