/biz/ - Business & Finance

WHO WINS?
>PICREL

>>52969748
>population is so retarded and bad with money that politicians have to force them to save for retirement

>>52969823
The people my age think I am retarded for slumming it up and living in the shit part of the city so that I can invest most of my income

>>52969748
They're running out of money to payout to boomers and Gen-X that are entering retirement. That's all. Old wealthy people win again.

>>52969846
THIS

>>52969846
What happens when all the young people kill themselves? I suppose it won't be the old rich peoples' problem by then. What of the people who survive?

>>52969748

(((401K)))

>>52969840
Western civilization won't exist by the time you hit retirement age.

>>52969846
>>52969748
Boomers can't stop fucking young people over.

>>52969983
They all plan to be dead by then.

>>52969840
>get shot walking home
>government gets your investment
good job

>>52969748
>401k
>not Roth ira
Reminder roth ira is tax free gains for life and 401k has required minimum distributions once you retire

We have had it here in Australia since 1983, it started around 3% and is currently 10.5% of salary contributed into what is called superannuation.

It’s pretty cash actually are wages are pretty high and most jobs you get paid exclusive of super and it just means most boomers here who worked under the system are now very rich.

The plan was it was supposed to replace or relievethe burden on our government pension systems but what ends up happening is that boomers cash out their super and blow it all on holidays or a new house and end up getting pension anyway

>>52969983
They'll import endless millions of third worlders to replace them

>>52969983
>What happens when all the young people kill themselves?
OR WHEN THEY ALL SAY FUCK IT I QUIT
THE FED KIKES SEE IT COMING
THAT'S WHY THEY'RE MOVING TO CONTROL ALL MEANS OF PRODUCTION AND MAKE ALL MEN INTO NEETS DEPENDENT ON ZOG FOR "MINCOME"

>>52970312
Roth IRA annual contribution limits are lower though. Worth doing both if you can.

What the system really ends up creating is a political economy in which superannuation trustees become very powerful. In Australia they have more assets than our banks and are an important source of capital.

It’s also a huge inflow into our stock market and means our top 200 stocks are more expensive than they should be but overall it’s pretty good system

>>52970331
>>52970380
Bro, you are describing a ponzi scheme that only Boomers will ever get to benefit from. How can one be so dense is beyond me.

>>52970403
>a ponzi scheme that only Boomers
OBVIOUSLY CORRECT
AND YET LESS THAN 10% OF COMMENTERS RECOGNIZE IT, SAD

>>52970403
The world is a Ponzi scheme faggot.

I have tens of thousands of dollars in my super balance right now, my father has a million dollars and change in his and we didn’t have to do anything to get it except live in a competent economy.

Every 1st world economy should have these systems

>>52970312
I have 401k at work and I opened up a roth ira recently. I'm 28
Better late then energy:/

>>52969748
>It also aims to raise the age for required withdrawals from 72 to 75, and ...

Holy shit. Average age of death is 77. On average, they want you to wait until you are 2 years before death before you begin taking any of it out. The kikery is off the charts. Who are the pieces of shit pushing this? Who are the pieces of shit not saying anything about this?

>>52970531
Age of required withdrawals so it's actually good thing. You're forced to start withdrawing later now

>>52970531
that's the age you HAVE to withdraw, you can start at 59 and 1/2

>>52970574
>>52970592
So why do people not just instantly cash out at 59.5? Is there some kind of Jew-Jitsu to waiting?

>>52970531
>>52970574
>>52970592
>required
Call me what you want, but I'm retarded.

>>52969748
>>52969846
>hodl mode activated

>>52970470
These style of 'investments' only work in this fiat ponzi economy. If we ran on sound money, the stock market would be seen for what it really is, a casino where the house(brokers) always win.

>>52970614
you get more money the longer you wait.

>>52969748
should block withdraw until 150year old

And conveniently about 50% of boomers are already retired or looking to retire so this won't matter to them. If you are a millennial or zoomer though then
>lol
>lmao

>>52970833
You sound retarded bro

The stock market is just a way for ordinary people to invest in the growth of the economy and receive a share of the dividends of the profits made by public companies in our economy. Of course it is a ponzi because it relies on continual growth for these companies to create profit but if you can find a better system to create wealth and prosperity good luck to you

>>52969823
It doesn't make you save though it gives your money to some dipshit to gamble on the market.

>>52970204
Check "filial laws by state". In about 60% of american states, boomers can legally spend all their money, reverse mortgage their house and go deep in debt and then force their kids to pay for them.

When you realize your parents and grandparents created a situation in which it's literally them or you and they're counting on you being too much of a bitch to do the needful, so to speak.

>>52970331
>>52970470
>it's pretty cash wages are high
It costs like 1 million dollars on average in ausbux to buy a house in your faggot country. Wages are high because your economy is fucked.

>>52970312
Roth only makes sense beginning or end of career. If you're making good money, trad 401k is way to go>>52970312

>>52970164
Ukraine is winning and that makes you seethe because you want it all to end. Fucking loser. Piece of shit fuck.

Why they do that ? pic related....

>>52970933
Yes yes, number go up good. Much growth. You're totally beating inflation. Keep investing in digital numbers and a government that wants to castrate and kill you.

>>52970366
>censoring 'fuck'
discard

>>52970933
>The stock market is just a way for ordinary people to invest in the growth of the economy and receive a share of the dividends of the profits made by public companies in our economy. Of course it is a ponzi because it relies on continual growth for these companies to create profit but if you can find a better system to create wealth and prosperity good luck to you
>"STONKS GO UP"

>>52969748
401k is a scam

>>52971009
>401k is a scam
>>52970106
>(((401K)))
UNDERRATED

>>52969748

>WERE GOING TO TAKE YOUR MONEY AND SAVE IT... FOR YOU!!
>says the government man

I can't believe we still fall for this shit and willingly go with it

>>52970958
Other way around. Property is fucked because a large % of the country are very rich and can afford to bid up the price of property. We have a big middle class here

>>52969748
>automatic enrollment
FUCK OFF

>>52969748
Yeah 401k is a scam

>>52970923
Boomer retirement is probably closer to 70 percent. Most of them are over 65 now.

>>52969823
We already have this in australia and europe

>>52971044
If they can't afford houses they are quite literally not middle class at all, just highly paid wageslaves in the desert.

>>52971061
>he thinks boomers retire at 65

>>52969748
fake news, you still have the option to opt out
move along anons

you need to finance boomer

>Oh we need to charge you so that we can put your cash into a mutual fund
401k providers are almost always bottom-feeding scum

>>52969748

There's also a lot of good things in the bill, like expanding your 401k options.

>>52971146

Disturbing.

>>52969748
Come and take it kikes, i double fucking dare you. Get rekt

>>52971204
Fuck off and keep your filthy kike hands off my shit

>>52970204
>the Fed Govt can't stop fucking people over.

*ftfy

you stupid fucking sack of shit identity politics fucking shillbot tard

>>52971146
Fucking boomers.
They themselves created these machines and lifstyles, and yet there they are.

I had to come back to live with my boomer mother and I'm going insane. Literally rich but uncapable of critical thinking when it comes to doing things differently.

>>52969748
>NEW 401K RULES
>A BOON FOR MONEY MANAGERS
[dailymail url]
LOL, imagine buying into to full-on propaganda fake news

>>52971429
I hear you.
It drives me crazy how little they understand how fucked everything is.
“Everything’s worse recently!”
>repeatedly say it has been getting worse for many decades
“Yes but did you see how much the government is spending now? It wasn’t like that a few years ago!”
>try to explain how it’s been the same fucking people in power; still doesn’t get it because the economy was better for them even though the roots of all the shit today have been growing for a long, long time
I hate how dull they are. How little they understand about how much they fucked things over and let themselves get used for so fucking long.
Gradually I began to hate them.

>>52971460
>>A BOON FOR MONEY MANAGERS
THAT'S WHO BENEFITS FROM IT, NOT THE WAGIES WHO'LL NEVER SEE THEIR RETURNS BECAUSE THE FEDNIGGERS WILL SURELY WAST IT ALL ON JEWKRAINE, FINANCING FAGGGOTRY AND OTHER ZOGGED, POZZED AMERINIGGER DEGENERACY.

>>52969748
not my problem. i've had a 401k account for well over a decade. my employer matches my contributions. this helped me survive the onslaught of the 2008 recession. you'd be an idiot if you didn't sign up for any free money from your employer

>>52971574
>BECAUSE THE FEDNIGGERS
AKA the money flows to retarded rightwingers, who don't know what to with it since they're dumb as fuck.

>>52970941
>then force their kids to pay for them
That's not what filial responsibility laws do. It makes you responsible for your parent's medical finances in the event they can't pay for them. Which they already were for you, for the first 18 years of your life, minimum. The least you could fucking do is help them as they are dying, you subhumanly selfish fuck-stain.

>>52970574
>>52970592
Why are people required to withdraw at all?

>>52971677
Anon medical end of life expenses are predatory and unnecessary. It's like when your dog has cancer and you can spend 20k for the 50/50 chance that it will live for another 2 or 3 months max.

>>52969748
You know what's funny that nobody in finance talks about? How money managers are entitled to the voting rights from all of the people whose funds they manage. Must be a kooky oversight, right? But it's ok, surely if there was any abuse it would be immediately sniffed out.

>>52971745
>You know what's funny that nobody in finance talks about? How money managers are entitled to the voting rights from all of the people whose funds they manage. Must be a kooky oversight, right? But it's ok, surely if there was any abuse it would be immediately sniffed out.
BASED NOTICER

>>52969754
does fidelity manage 2 trillion in 401ks? what the fuck

>>52971745
They legally have to act in the interests of their trustor though so it’s not that controversial

>>52972020
Oy vey goyim I had to tell the CEO to put a gay couple in the hamburger commercial so we could get more profit from the gays. Trust me I know business.

>>52969823
>save for retirement
you mean give to a retarded hedgie who has no consequences for losing your monkey, that you aren't allowed to access until you retire.
Then they start pushing the retirement age back 5 years every 3-4 years.
Then the government plunders it to fill in the cia budget (multiple times), and you're enrolled into another scam scheme to start over.
10% of your paycheck really isn't so much to ask for us to keep boomers well paid into their 120s, is it anon?

>>52971429
*incapable

>>52972031
That would be an executive (management) decision and shareholders would never vote on stuff like that.

I took about $60k out of my 401k during COVID when they were waiving the early withdrawal penalties. Fidelity was seeething so hard, asked me hundreds of times if I was sure I wanted my money now. Blocked the 5th withdrawal and gave me a phone call asking me to confirm it. Its ridiculous how your money is actually their income and they just desperately clasp onto it like the jewish memes.

>>52972015
>does fidelity manage 2 trillion in 401ks? what the fuck
THE (((401K MANAGER))) CRIES OUT IN PAIN EVEN AS IT STRIKES YOU.

>>52972093
>I took about $60k out of my 401k during COVID when they were waiving the early withdrawal penalties. Fidelity was seeething so hard, asked me hundreds of times if I was sure I wanted my money now. Blocked the 5th withdrawal and gave me a phone call asking me to confirm it. Its ridiculous how your money is actually their income and they just desperately clasp onto it like the jewish memes.
THE 401K MANAGER HAS NO SHAME.

>>52972093
well playing devil's advocate, the government is the one that really fucks you with their taxes for early withdrawals, but fidelity themselves gives you great low-interest rates on loans if you need some emergency cash

>>52971062
And it’s shit. My dad never keeps track of his super. I was review his finances and discover his boss hadn’t paid him super for 5 years and his invested funds hasn’t grown they’d just been slaughtered by transaction fees.

>>52971610
It's not free money. It's literally docked from your potential earnings. Plus the massive taxes you will owe + the year account fee (usually 1% which compounds over decades into a large chunk) means all that money gets chunked once you take it out.

I just moved everything over to a Roth IRA then withdrew while I could get around the early wd and only had to worry about the income tax (which was 10% because I'm a poorfag).

The whole point of the scam is to continue underpaying workers while putting a large chunk of your paycheck into a massive corporate ponzi scheme and make you think you're smart for complying with it.

>>52972103
>4.5 trillion
>schwab has 7 trillion

how the fuck does schwab have so much more than fidelity

Imagine losing money and not putting a % of your money away in this market, couldn’t be me.

“The stock market is a device for transferring money from the impatient to the patient“-Lebron James

>>52972490
FIDELITY'S BEEN AROUND LONGER BUT ITS RUN BY A TRUST FUND BABIE ROASTIE HEIRESS AIRHEAD.
I'M SURE THAT'S THE MAIN REASON.

>>52971703
>20k
More like 200k for the boomer, easily into the millions as they require more specialized and constant care, clinging to decaying bodies as they fear death and the potential consequences of their actions. So many of them deserve a smothering by some nigerians. The best of them could use palliative care to ease their passing. In many previous generations, the old would sacrifice themselves when times were tough to save their kids and grandkids. Now the older generations are leeching away life from their children and grandchildren, leaving them destitute. The worst of them are literally sucking the life out of the youth via donated organs or blood rejuvenation therapy (replacing their blood with some from those much younger than them).
They have no honor, no dignity, demand not only the world but everyone else’s futures to pay for their greed now, they have always been like that while also demanding people respect them just because they are old.
Fuck all of them. Only the rare exception deserves respect.

>>52971745
THIS. This is the root of so much wrong going on today. It's the one thing that single stock picking has over index fund and ETF investing.

>>52972548
Isn’t Schwab being run by his daughter in the future? Maybe I’m wrong but either way that’s a massive difference if fidelity has all the 401k’s, literally what is Schwab holding

>>52969748
JUST LOCK UP YOUR MONEY FOR 50 YEARS GOY I PROMISE IT WILL BE THERE WHEN YOU ARE IMPOTENT AND DYING FUCK YOUR FAGGOT (((RETIREMENT PLANS)))

>>52971497
Don't get emotional anon. That will be used to dismiss any point you were about to make. Also be nice to the boomer after all they did for you.

>>52971677
people die. stupid that people bankrupt themselves and leave nothing for their kids clinging to every last week.

>>52972541
wow four grand in 35 years, you're gonna make it

>>52969748
Hahahahahahahaha
In the previous 401k thread a bunch of jidf posters called me a schizo for pointing out that western governments ca absolutely nationalize your pensions at any time, when argentina and poland already did it.
This is just the first step

>>52971745
plz explain these voting rights

>>52972475
it's not free money only if you take out early withdrawals a lot and pay ridiculous penalties which i never do. it's not a savings account, it's an investment. long-term DCA'ing with a matching 401k is certainly profitable. for instance, when i purchase crypto or stocks, taxes were already paid for those funds pre-purchase. then if i withdraw my crypto i get fucked with gas and staking fees and taxes and get taxed on short-term or long-term capital on my stocks. 401k isn't really that awful in comparison. plus i only signed up for the minimum matched contribution amount and don't even notice it missing on my paychecks

>>52972773
I STARTED A 401K THREAD EARLIER ON /POL/ AND HAD A LOT OF JIDF SHILLS SLIDING THAT THREAD TOO.

>>52972734
What matters is the % gain you spastic

>>52972772
When you own shares of a Stock you are entitled to vote on shareholder meetings. Buy a share in anything and wait you will see.

When you invest in a mutual fund you do not own the shares in the companies that it invests your money into. The fund itself owns the shares. Therefore the fund manager is the one who gets to call the shots.

Have you heard about Blackrock and Larry Fink? ESG investing? Blackrock is owned by Larry Fink. Blackrock sells ETFs which are passive. Larry Fink, as the owner of Blackrock therefore gets to enforce his ESG values on the trillions in assets he indirectly owns through Blackrock. He is not alone. He's just the biggest in the game.

>>52972076
They don't vote on operations, but there's no law against Larry Fink calling up a CEO to tell them his recommendations. Which is backed up by the implicit threat of making his life hell/pushing for board seat changes, which you absolutely can do with 5% of the shares.

>>52972874
That’s not quite right. The mutual fund managers are legally a trustee of the shareholders as it’s the shareholders who own the stock, the money managers are just the trustee. The trustee has legal duties to act in the interests of the shareholder though so if they did anything wrong and it was publicised there could be class actions and other legal claims against the money manager.

>>52970860
No, that's social security.
Reason is income tax. If you take out the whole thing at once you're going to loose around half in taxes vs only 80k or whatever per year.
At 59.5 you can avoid the additional 10% early withdrawal penalty.

>>52971688
Can't have anyone building up untaxable generational wealth

>>52972384
I withdrew 20k from super during covid simply because you could.
Fuck the private super funds stealing my money
There should be an IQ test for super, if you score over 100 you get to keep your money

>>52970973
HAHAHAHAHAHA
God is on Vlad's side.

>>52969748
>The bill will also increase the age for required minimum distribution from 72 to 75
lol, lmao even, you're not gonna live long enough to see this money even if the system doesn't collapse by that time

>>52972103
Fidelity allowed me to short Russian stocks during the start of the war
While every other exchange was down and disallowing trades on the RU market, Fidelity not only allowed trading, but continued to allow borrowing as well.
I made like $5k lol
They might be Jewish but these might be /ourjews/

>>52972038
you can self-manage your 401k and buy your shitty meme stocks if you really want to make bad financial decisions

>>52973583
umad?

>>52972773
Not sure about Argentina. But in Poland they were nationalizing the company because it was failing not the funds people own right?

>>52969748
Actually not bad as long as it goes into index funds.
>this kills the money manager

>>52973720
I am thankful that my 401k offers VITSX. 100% of my 401k goes there.

>>52973736
You're gmi anon, cash in on the employer match and reach the max IRS amount per year. Social security will be our drug and prostitute money lmao

>>52973166
So we can all email Fink and tell him that ESG and LGBT+ are kike scams not worth investing in and he'd have to listen to us?

>>52970164
Good. The fall of pig skins has been a long time coming..

>>52969823
>save for retirement
>give 10% of your wage income to a coked up jew who's only allowed to trade bonds and somehow STILL manages to lever up 3.5x and lose everything, crashing the world economy and liquidating your job
yeah man the average person is just so financially retarded, wish something could be done about it, maybe more investment in higher education idk idk

>>52969748
This happens in many countries. The US is the only one I've heard of where wagies are their own brokers with their retirement fund.

>>52970106

This nigga gets it

>>52970366
imagine thinking those sms are real

>>52969983
probably killed in the middle of the night by the chinese or russian army

>>52975516
The govt needs to fuck off.

>>52975516
I don’t care what they do inmany countries” you embarrassing oversocialized bugman.

>>52969754
Just what I needed. More things that increase the deficit while none of them benefit me. This ZOG is a scam.

>>52970531
Mitt Romney is the champion of this garbage.

>>52975538
>sms
kek, you're at LEAST as old as I am.

>>52971044
>Property is fucked because a large % of the country are very rich
You're dreaming. Property is fucked because no politician will touch the Boomer's negative gearing: only 50 per cent of the increase in the value of the asset (when it is sold) is subject to income tax, providing it has been owned for more than 12 months. Boomers buy up property and then sell it for a markup as demand outstrips supply, and they've been doing it for decades now. Massive foreign investment drives prices up further. On top of that, affordable supply is earmarked for retirees and unavailable for younger generations to purchase, so they have to rent. It's fucked from top to bottom.

>>52975656
The same guy who put his share of a hedge fund into a taxdeferred account, claiming it was nearly worthless so it would fit in the limits, but somehow it’s earning millions per year.
>Someone remind me which prison he’s in

>>52975629
>Just what I needed. More things that increase the deficit while none of them benefit me. This ZOG is a scam.
BASED
>>52970531
>Holy shit. Average age of death is 77. On average, they want you to wait until you are 2 years before death before you begin taking any of it out. The kikery is off the charts. Who are the pieces of shit pushing this? Who are the pieces of shit not saying anything about this?
WELCOME TO JEWMERIKWA, GOYIM.
>>52975801
>The same guy who put his share of a hedge fund into a taxdeferred account, claiming it was nearly worthless so it would fit in the limits, but somehow it’s earning millions per year.
MITT DID THAT? NOT SURPRISED HE REVEALED HIMSELF TO BE 100% FAGGOT WHEN HE SIDED WITH THE NEOCONS DURING THE TRUMP VS. GOP JEW LEADERSHIP ESCAPADES.

>>52969748
I'm from a country where that was implemented 30 years ago. They will promise a pension of 80% of your salary if you are a good goy. All lies

>>52972566
and the jew shill jumps at the opportunity to stoke generational strife
how many bullets have you heroically taken in your life, shill?

>>52972038
are you retarded? why give them that at all?

>>52969748
So basically nobody is buying and they need more buyers so hedge funds can dump

>>52975566
>>52975581
You'll be thankful on the long run

>>52969748
They ran out of buyers lmao so they are forcing you to buy the bubble

>>52969748
Employer 401(k) matching is only offered because it is known that the financial system will collapse long before the average 401(k) user begins to collect. It's worth it for them to get the money you give the banks now because they know the banks will never give it back, on average.

>>52973488
lol nigger

>>52970380
Won't these funds lose value as boomers pull out their money to pay for yachts and medical bills?

>>52971677
>that's not what it is
>but it is what it is

lmao at you, imagine being such garbage your adult children have to be legally forced to pay your bills

>>52969748
I knew since day one of being able to open a 401K that the damn thing was a scam, this proves it

>>52973583
oh, neat.
I just assumed you weren't allowed to under this gay law (just like in my country)