Coworkers keep bullying me because I don't invest in a 401k

[Anonymous No.10347639]

Can anyone give me some good arguments?
It just seems like a scam to me but I never did the research to back it up.

[Anonymous No.10347643]

>>10347639
Hah! LOSER

[Anonymous No.10347652]

>>10347639
Your company literally matches your deposit, retard. It's a guaranteed 100% return.

[Anonymous No.10347663]

just do it

[Anonymous No.10347676]

>>10347652
Not if your currency inflated by more than 100% by the time you get to unlock your funds

[Anonymous No.10347696]

>>10347652
this^
probably the best investment you can make if you aren't loaded.

[Anonymous No.10347703]

Who was lying?

[Anonymous No.10347718]

>>10347676
You don't keep your 401k in cash, you usually keep it in stocks. Since stock market return is consistently higher than inflation by a wide fucking margin, that argument is bullshit.

[Anonymous No.10347720]

>>10347639
who gives a fuck what they say dont be a little bitch

[Anonymous No.10347728]

>>10347652
>literally matches your deposit
wrong, only a fraction of it
>guaranteed 100% return.
wrong

[Anonymous No.10347730]

>mfw I take money that would have been deposited into 401k every month and put it in crypto instead

Money that’s gets taxed then penalized if I take it out early. Yeah I think I’ll pass heh. A 401k is the ultimate boomer plan. I don’t care how much money I have when I am 65, I care how much I have now.

[Anonymous No.10347742]

>>10347718
>stock market
enjoy your measly gains

[Anonymous No.10347755]

>>10347718
>Buying at ATH

[Anonymous No.10347787]

>>10347730
This. The only person who cares if I /make it/ at 65+ is my children/grand children waiting for me to die and inherit the dough

[Anonymous No.10347788]

401k is just the boomer version of a giant ponzi. You are forced to hodl for 40 years in the hopes that your balance hasnt shrunk like a dick in cold water

[Anonymous No.10347841]

How the FUCK does everybody have $401k and I can’t even get $4k after 3 years at my company?

[Anonymous No.10348649]

>>10347841
Thats cause you're a link investor

[Anonymous No.10348802]

>>10347730
You can put it in pre-tax, and you could use it as collateral for a loan. It's worth having if the company matches you, but only up to that point and any more should have a roth

[Anonymous No.10348958]

Piggybacking off of this thread

401k vs Roth IRA? What's the difference and which is more beneficial?

[Anonymous No.10349106]

>>10348958
In a regular 401k you put your money in before its taxed and it gets taxed after you take it out.

In a Roth 401k you put your money in after its taxed but when you take it out you don't pay taxes.

[Anonymous No.10349281]

>>10347676
You dont get cash ever in retirement funds

The last thing anyone is going to do is give you cash that does not exist, people wanting the cash is what causes the retirement crisis, stupid entitled boomers.

You get annuity products with your 401k. The money you worked for (which has long since been embezzled and repackaged with toxic debt) is sold to another honest banker in return for a fixed income of less than what you paid in.

[Anonymous No.10349409]

>>10347788
Social Security is a Ponzi, 401k are just tax advantaged investment accounts.

[Anonymous No.10349426]

>>10347652
Thos varies by company. Some do not match.

[Anonymous No.10349491]

>>10347652
Money company has a pension, but they don’t match at all on 401k. I think I’d rather take the 401k, i ain’t seeing pension for at least 25 years.

[Anonymous No.10349544]

>>10349491
My company* whoops. Plz no bully

[Anonymous No.10349579]

I'm not American so I have only a very basic idea how 401k works but just search for "401k scam" and you will find articles criticizing it. From what I read though, it seems a shitty retirement plan. You can only contribute $18k a year, the money gets locked for 40 years and you get taxed if you try to cash out early. I don't know but seems like a way to stop people from retiring early. You could easily make $500k in 12 years if you make 50k a year through compouding or something.

[Anonymous No.10349594]

>>10349544
At first I got a boner, then I saw the graduation photo

It's a man, isn't it?

[Anonymous No.10349662]

>>10349594
It could be her brother or boyfriend. There are other pics which don't seem to be her.

[Anonymous No.10350043]

>>10347730
you can withdraw from your 401k early without penalty via the 72t early distribution

https://www.goodfinancialcents.com/72t-earlty-distribution-rules-401k-to-ira/

[Anonymous No.10350241]

>>10347730
Was gonna try talk you into 401k until I saw this post.
You're a lost cause. Enjoy being old, sore and poverty stricken.

[Anonymous No.10350829]

>>10349579
401k withdrawals begin as early as 55, and you can use a roth ladder before then

[Anonymous No.10351330]

>401cuck
if you’re young and unattached, invest high risk

[Anonymous No.10352206]

>>10349491
You probably won't see the pension ever. I wish I could fully opt out of mine. Companies have been taking them off their employees for decades. The few that are left won't survive in 25 years.

[The Silver Shill No.10352491]

>>10347639
if you cant see the value of a 401k, you dont deserve to make it
go to vegas

[Anonymous No.10352580]

>>10352491
>if you can't see the value of our government sanctioned ponzi you don't deserve to make it

if it weren't for this shit pumping Jew bags the market already would've crashed long ago. Dumped all my stocks, took the penalty, and went all in on LINK at $.18. I don't give a fuck if you're employer give you a 20% match, if you're not putting every penny into crypto you're a fucking brainlet.

[Anonymous No.10352720]

>>10347639
When I first started working I put everything I had into my 401k and I did that for two straight years. so now its growing and because i put it in so early even if I started again now (only about a year or so later) it would only about double what it will be in the end, so now I'm taking that 5% and putting it into crypto slowly and hodling. I don't stress myself out looking at it every day, I know its all going to be worth more in by the time im ready to retire.

At this point I have more faith in crypto than I do in the american government in the long run. I think the dollar/dow/nasdaq are heading for some hard times. If theres a massive dip ill invest back into my 401k. other reasons not to invest:
>Stocks are more vaporwave than crypto in many aspects like a company being able to print more stock whenever they want and trade in the off hours (which has become especially apparent in the dow recently)
>Congress is able to use 401k funds however they like essentially and sell off SS assets to fund other projects which they inevitably turn into gibs
>its a stated fact that by 2035 the SS program will be completely out of assets and 100% tax dependent making it easy to kill politically
>its very likely that there will be no added benefits to SS other than the money you invested and its interest
>OPEC rebelling against the dollar and TPP not passing is going to eventually crash the dollar once bitcoin takes over the dollar as the international currency
>its likely some people will have negative returns from their 401k in the next few years
>they usually only net 3-5% returns yearly which all of us can do in a weekend with crypto
>interest rates are about to create a strong dollar which not many americans have right now causing crypto to take over even more

[The Silver Shill No.10352856]

>>10352580
youre not going to be very happy when congress passes a bill to let retirement accounts to hold crypto.

[Anonymous No.10352862]

Same here I'm 24 and already flush with crypto even on the monster dip. From what I read this same shit happened during the dot com boom to shake out every possible person before we head to nibru

[Anonymous No.10352922]

>>10352856
Oh wow that would be amazing you dumb faggot. The whole point of crypto is that you don't need intermediaries.

I'm literally telling you that most people are going to get their portfolios 1929 tier justed before that happens. Any money you're putting into a 401k is just throwing it away. Double that for pensions and social security.

[Anonymous No.10353280]

>>10347730
Exactly it was good for boomers but we don't know what the (((economy))) will be later.

[The Silver Shill No.10353365]

>>10352922
listen here you little shit and your digits,
you arent beating bankers with a digital currency, youre going to have to do like andrew jackson did and get guns and men.

[Anonymous No.10353531]

>>10347652
My company said it matches after you've worked there for a year.
I'm going to opt out because I don't want to have money taken out with now return.

[Anonymous No.10353656]

>>10347787

Because you’ll always be perfectly capable of working a good job to support yourself at 65 and beyond. Old people don’t develop chronic health conditions, become frail and unable to work a full time job, or find their skills obsolete as they approach 70. Fucking retards...

[Anonymous No.10353667]

>>10347730

Let’s see... company matches 100%, or maybe just 40%. You take out the contributions (and any gains) early and pay a 10% penalty. Do the basic math, brainlet.

[Anonymous No.10353686]

>>10348958

401k=pay taxes later (when probably in. a lower bracket as a retiree), possible company match, and a 10% penalty if you withdraw early.

Roth IRA=pay taxes now (hoping rates are lower now), usually you’re on your own to set it up and do all contributions, but no penalty if you withdraw early.

You can do both if you’re loaded and want to set aside money

[Anonymous No.10353695]

You're retarded if you're not contributing to your 401k. You should kys if there's an employer match and you're not contributing anything.

[Anonymous No.10353719]

>>10347639
https://youtu.be/2Oj6G43Dzn0?t=69

[Anonymous No.10353758]

I don't talk finances with co-workers and I cringe when I hear them talking about bills and how they're trying to get their credit up etc. I talk to my boss some, but just what I feel moved to talk about, not just rattling my financial situation off for the fuck of it like it's anyone's concern

[Anonymous No.10353828]

I seriously considered cashing out $50k of my 401k in January so I could buy crypto. Thank fucking god I didn't go through with it.

[Anonymous No.10353829]

>>10353695
Yes goy when you're 60 years old you can have a whopping 50k

[The Silver Shill No.10353855]

>>10353829
dollar cost averaging isnt a meme

[Anonymous No.10353955]

>>10353855

Neither is compounding. 401ks are solid if you have an employee match of 20% or greater. After that, Roth IRAs are good for investing your savings and staying fairly liquid and safe. Speculative investments like crypto are for money you wouldn’t miss if you lost it. 401ks and IRAs are for money you want to make sure you don’t lose.

[Anonymous No.10354073]

You should at least be putting half of your income in a tax free investment account like a 401k. Sure there is more potential in crypto but more downside as well, stay diversified and keep your options open.

>fuck u boomer i'ma kill myself if I don't make it by 30 xD

No you won't then you will be backed in a corner at 45 when you realize you will never be able to retire and will be working at Walmart living off cat food the rest of your life when your company lets you go at 55.

[Anonymous No.10354544]

>>10353695
Enjoy your 600k+ fiat at age 75 when your purchasing power has gone to shit. And the entire way through it is getting taxed and gouged by middle men.

[Anonymous No.10354566]

>>10352580
this. i only fucking had 5k saved up in my 401k because Obama fucked the stock market into stagnation the past couple of years as I started my first full time career job. put all into eth in march 2017 and dumped all my gains into LINK. if i dont make it fuck it. i just lost 5k initial investment anyways

[Anonymous No.10354575]

>>10352922
this. i worked in the DB division of a large insurer. pension plans are absolutely FUCKED in the coming years and decades. these boomers will get JUSTED harder than holding BCC in 2018.

[Anonymous No.10354579]

OOPS...SORRY WE DONT HAVE YOUR PENSION PAYOUT ANYMORE SIR. HOPE YOU HAVE ENOUGH SOCIAL SEC- OH NO..THAT SUCKS. WE RAN OUT OF THAT TOO.

[Anonymous No.10354582]

401k is a scam. Stay away.

[Sometimes rarely No.10354585]

>>10352720
Well dude I'm 12% down in 24h where is your daily 5%

[Anonymous No.10354754]

>>10353955
>crypto are for money you wouldn’t miss if you lost it.

Too late