/biz/ - Business & Finance

>>50315245
Let me guess you get a tax return at the end of the financial year right? kek

>>50315245
I dont even have a 401k and never will.

>>50315245
90% of millionaires are millionaires because of their 401k. Things may change, but they're a fantastic vehicle for the time being.

>>50317255
Index funds beat 401ks a majority of the time especially when counting the various fees you may pay depending on the company

>>50317315
Some 401k's let you invest in a variety of index funds. Not an argument.

It's a scam to pump jewish owned blue chips

>>50317728
Where exactly is the scam? The part where you get free money from your employer? Or maybe the part where you get to speculate/invest your earnings tax-free prior to putting it into the market, and while it grows? Yeah, what a scam!

>>50317785
>free money
Stopped reading

>>50317809
An employer match is literally free money. What zoomer tiktok bullshit have you been watching that says otherwise?

>>50317831
it's literally not
your employer pays X amount for your services, the breakdown of that amount is irrelevant to them
why do you think companies are happy to hire contractors at a much higher hourly rate?

>>50317963
You literally get more money from your employer when they match your 401k contribution. Retard alert!

>>50317255
>Things may change

I see the fed scam that is the USD collapsing within the handful of decades.

>>50317785
Its not free money if they dictate you how to spend it, which is into wall street, which is a rigged game they they run.

>>50318031
on an individual level, yes, one person who participates gets money that someone who doesn't participate misses out on
but in reality, a 401k match is not free money, it's literally being subtracted from your salary, which does lower your tax liability, but that still doesn't make it "free"

>>50318053
So hedge your bets by speculating into the rigged game in a way that makes the most sense. You're not so proud that you'll ignore a tax free vehicle, as well as free capital just because it goes towards a system you don't agree with, but directly benefit from, are you?

>>50317315
Holy fuck stop posting you fucking underage retard

>>50317255
>I'm sure they'll never rug all those dumb fucking goyniggers!

>>50318098
>it's being subtracted from your salary
lol no.
>make $100,000
>employer matches 5%
>you put $5k into 401k
>employer matches your 5% and puts in another $5k into your 401k
>total compensation:$105k

>>50317315
Dafuq?

>>50318164
I can understand jew mentally when I hear smoothbrains talk, why shouldn't I be the one that takes all of this dumb faggots money? He's going to lose it anyway, look at how dumb he is!

>>50315245
OP is right if you're under 35.

>>50315245
Passive investors are so cringe to me

>reddit normies tell me to max out my 401k contributions
>refuse, only put in 1% and put the rest in crypto instead
>made enough to quit my job in 2020

>>50317347
this + tax break and match

>>50318330
Finish the story
>lose it all back in 2022
>have to start working again

>>50318363
I sold in 2021

If you can't max out your 401k and invest a bunch you're absolutely poor as fuck. My retirement counts are more like secondary emergency savings so I can speculate like a fag.

>>50318135
>early withdrawal fee
>management fee
>administrative fee
etc

>>50318405
>>early withdrawal fee
dont early withdraw thats the whole point lmfao
>>management fee
>>administrative fee
so like 0.5%? that doesnt matter because of the fucking MATCH you idiot. youre doubling your gains compared to taxable, so who gives a shit about 0.5%. it's +200% -0.5%, do the math

Retard posters that think 401k is an index fund and not a tax advantaged investment account will never make it.

Also my company offers Roth 401k which can be rolled over into a Roth IRA which you can literally invest in anything including non margin options (can generate income tax free with covered calls). And all the gains are tax free.

>>50318702
>imma gonna lock all mya monnies away till imma half dead then imma gonna give it all to solomo to pay a nog to beat my ass till they murder me and collect the gov gibs for the latest meme virus!
Why are goyniggers like this?

My greatest fear is that they'll somehow decide that you have to pay taxes on the Roth *again* at some point in the next few decades. They'll phase them out, then make up some shit about how they were "privileged" and "unfair" somehow

>>50319691
yes you drooling terminally online nincompoop, its a GOOD idea to double your money and lock it away until youre half dead, so that you can spend the second half of your life retired. how can that possibly be a bad idea?

>investing jewish
>jews bad
>therefore i will stay poor to own the jews!
have fun being a walmart cashier at age 70 because you thought getting a free $6k a year was jewish

I minmax them for tax breaks, company also matches my input. Its silly not to take advantage of this

>>50315245
that's why we all become retarded by investing in things like qom or shiba, we are simply afraid of what the future holds.

>>50317255
>90% of millionaires over the age of 60 are wealthy because of their stocks go up ponzi that is collapsing in real time
>Just fucking buy in goyim
Nah

My employer matches %6

Fuck and I supposed to do? Just not take the free money my employer gives me? How is that a financially sound decision?

>>50321773
It’s only free money assuming you live long enough to use it.

>>50315245
just hoping the great reset will totally annihilate the boomers

>>50321838
Kek if the reset ever comes to show their life savings will be DESTROYED

>>50317315
these are the retards you get financial advice from

Western civilization won't survive the 30-40 years or so you need for a 401k. What a scam lmao pumping boomer bags

What about an ESOP with a company that isn't public?

>>50324546
Anyone? How does a private company's ESOP fare in a shit economy?