Is a retirement fund even worth it?

[Anonymous No.50398635]

With the rate of high inflation is going, is it even worth it to put money into one? Lets assume $1 million in 50 years is worth the buying power of about $200k in today's buying power. At that rate, Id probably be better off either spending it(not consooming) or putting it into actual assets like real estate or buying up land. I have student loan debt, but the field Ill be working in anyways has student loan forgiveness after paying it off for 10 years no matter how much I owe, which I figured would be easiest to get the smallest minimum payment possible even though I will be paying "more" in the long run, inflation will beat out its interest rate and Ill be technically paying less and less as time goes on even if the number stays static.

[Anonymous No.50398720]

>>50398635
I like assets. At the end of the day at least you have something. If you’re going to do a retirement account, choose a Roth IRA because you can control what you invest it in, and your withdrawals and earnings are tax free.

[Anonymous No.50398782]

What?

[Anonymous No.50398892]

>>50398635
If you really want to, you can set up a self-directed IRA and use it to buy property and cryptos as well as stocks. Otherwise with a custodial IRA you can buy REITs and crypto ETFs and such along with any other kind of stock or fund.

[Anonymous No.50399922]

>>50398720
>>50398892
Redpill me on IRA's and how reliable they are, what are the downsides?

[Anonymous No.50400002]

As with most investment strats, the key is to be diverse. One way to make it is to all in on shitcoins and hope for the best. But you're greatly amplifying your risk there. I think it's always important to have a backup plan and as your portfolio grows, you should be diverse. Is 4-8% of your income in your retirement account a make or break amount to your finances and ability to gamble in crypto? Then you probably aren't making enough. Going down the list of my finances and why
>6k in the bank, gonna up it to 10k soon due to inflation as it's my emergency fund
>15k in my roth 401k, I contribute 8% for a 4% match (that's a great return for something low risk)
>6k in my roth ira, second emergency fund
>about 10k in stocks, honestly this is my overflow savings
>200k in a mix of crypto and stables
Once you hit six figs I think it's important to start thinking about preserving capital rather than making money. You don't know what your life will bring when you're old, so hedge against it a bit. That's my logic. And if I need it I can cash it out for a penalty or take a loan against it in case all my other asset classes fail and I'm totally fucked. I have 65k of student debt still as well that I pay monthly on

[Anonymous No.50400231]

>>50399922
Checkbook IRA gives you total control. Roth gives you tax free gains. Until politicians change the laws and fvck everyone again

[Anonymous No.50400768]

>>50400002
As of now I dont have any benefits with my current job atm, so no plans to match what I put in even though I make $28/hr. I had about $9k I put into crypto over the last year and a half that hasnt really gone anywhere. I used to make $18/hr and did a great job at saving whole paychecks because I dont consoom, but I ended up quitting that job out of spite and lived off of the savings and put the rest into crypto. Im looking to build back that $10k I had saved up then really start putting stuff away for retirement. I am looking to buy cheap land though in the next few years, Im starting a grad program and am thinking of taking out more loans to split a down payment with some buddies on getting a low double digit number of acres. Great info, thanks anon
>>50400231
I looked into checkbook IRA and it looks pretty good for investing into real estate. Any other knowledge on that? And non, you can say fuck here. You should know this unless youre a tourist or newfag. Thanks either way.

[Anonymous No.50400771]

Ban test

[Anonymous No.50400813]

>>50400768
Main downside is you cant touch it til your 55 or some old age. I have a tsp which is the government version. I put 5 percent of my pay in Roth and they match 5 percent in a traditional. I have it set to buy the c fund which is pretty much sp500. When I retire my portion is tax free while there’s is taxable income. I’m watching my coworkers not retire even tho they are 60 because they didn’t take advantage of it when they were young. I think it’s beyond worth it

[Anonymous No.50401336]

>>50400813
tsp sounds pretty based. Im going into working for the school system, but not as a teacher. Do you know if they qualify for it? All I can find is stuff on a 401k 3b