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/biz/ - Business & Finance

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50363034 No.50363034 [Reply] [Original]

I just took a job in California, should I max IRA and 401k contributions to pay as little income tax as possible? Does it work like that?

>> No.50363047

>>50363034
yes because fuck the government, also make sure to max out your HSA

>> No.50363310

>>50363034
NO GOY DONT MAX OUT YOUR 401K AND ROTH IRA
if you ever needed that money before you were 65 you’d only only have to take out a loan with interest against your own money GOY, so don’t do that you’re definitely getting one over on the Jews and government

you believe in index funding right?
you don’t believe that lump sum index funding is dead right?

>> No.50363382

>>50363047
Can you redpill me on HSAs? I didn't opt into one
>>50363310
>you believe in index funding right?
>you don’t believe that lump sum index funding is dead right?
Not idea what any of this means

>> No.50363661
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50363661

Bump pls

>> No.50363665

>>50363034
Fuck that just contribute to your companies match. Why the fuck would you want Shlomo controlling your money until your 59?

>> No.50363690

>>50363034
max your 401k, max your roth. opt into hsa next time.
/thread

>> No.50363715

>>50363034
I too would like to know this because I am a college graduate and a big dum-dum with my first job. Should I or should I not be using a 401k

>> No.50363777

>>50363034
yeah.

>> No.50363802

>>50363665
>t. dumb zoomer who doesn't undestand 401k->IRA rollovers

>> No.50363855

>>50363665
Match is 4% which I'm currently contributing
>>50363690
>opt into hsa next time
Why is it worth it?

>> No.50364025
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50364025

>>50363715
Keep bumping this is a real finance thread. Don't let it die

>> No.50364039

>>50363802
You still can’t access the money you dumb faggot

>> No.50364065

>>50363034
Never bother with a roth ira. Use a traditional ira. TIRA creates deductions. RIRA does not.

>> No.50364077

>>50363034
The thing about sororities is that 90% of people hate each other and you become very good friends w the 10% you like

>> No.50364130

>>50363034
>>50363382
financial advisor here. HSA is a tax advantaged account you can use to pay for medical expenses L. Funds you don’t use in that year can then be rolled over into things like 401ks but you can bypass the income limits for contributions to a 401k by doing this. If you plan on being rich later however, always max out a Roth instead. Normal 401k/Ira = pay taxes when you take it out, interest gained tax free. Roth = pay taxes when you put it in, interest also gained tax free, no taxes when you take it out.

>> No.50364132

>>50363034
Waste of time, if you're on /biz/ and aren't rich before 30 you lost

>> No.50364159

>>50364039
Yes you can

>> No.50364187

>>50364077
I just like having sororities near me, not being in one myself

>> No.50364198

>>50364130
To clarify, you can reduce taxes you pay now my contributing to 401k hsa ira. If you are broke now however and in a low tax bracket you could contribute to Roths instead because you don’t pay taxes on the money later, so it decreases your tax burden at retirement

>> No.50364211

>>50364132
I'm 25, I got some time
>>50364130
Damn maybe I'll go back and read about the HSA. Seems like another way to get a company match

>> No.50364255

>>50364211
It usually is, company will put in a few hundred up to a couple grand per year for free

>> No.50364301

>>50363034
>just work til you're 65!
Kek have fun with that if you don't die by then or civilization collapses

>> No.50364395

>>50364301
You know you can take money out of them right?

>> No.50364428

>>50363034

i'd like to line each girl up, and then just boink each one in succession. like in and out, then switch, in and out, repeat. the lucky winner gets to be my baby mama.

>> No.50364814

>>50364428
move near UCLA and they can be your anon

>> No.50364876

FDIC savings accounts only here, 0 risk
I’m hoping CD rates will get above 5 soon
Stocks will go to zero

>> No.50365168
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50365168

>>50364876
See Deez Nutz bozo

>> No.50365646

>>50364039
lol zoomer moment

>> No.50365739

>>50363310
You're a fucking retard. You pay taxes on a 401k yes - but your income is non existent / low when you're at retirement age so the taxes are negligible. Do you think you're going to be employed at age 67+ you stupid neet larper?

>> No.50365885

>>50364198
Aren't you limited to 6k roth IRA?
so why not load a chunk into HSA in addition to that?

>> No.50366007

>>50365739
He's saying control your own investments and do as well as 401k by using index.

401k is good, if you're Moron. You effectively don't trust yourself to not fucking put it in stupid shit and be destitute in the future.

>> No.50366761

Bump for getting around income tax

>> No.50367821

Bump again

>> No.50369220

>>50363034
401k, HSA, and ESPP all the way off you can spare the cash.

>> No.50369928

>>50364132
>retard opinions that don't matter

>> No.50369986
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50369986

>>50363034
I put 2% in mine and the other money I spend on gold. My company has an ESOP so I don't even need a 401k.

>> No.50370080

>>50364876
You'll get a better annual return on gold. I only have cash in the bank for liquidity or else I'd be all gold.