/biz/ - Business & Finance

[Anonymous No.56047816]

What is the best thing to do with my 401k?
>leave it till I retire. I'm 29
>Rollover to a Roth IRA
>Withdraw it and buy Bitcoin this next crash

Or something else

[Anonymous No.56047856]

>>56047816
If you don't think they're raiding people's 401ks in 20 years to pay for reparations and social security, you really haven't been paying attention.

[Anonymous No.56048211]

>>56047816
Rollover only makes sense if you have a year where you plan to be dirt poor.
My plan is to max it out as insurance while simultaneously keep the external cash flow grind to try to make it make it.
They try to jew you with fees but I'm invested in a Russell 3000 fund that is close enough to what I want and had practically 0 fees compared to every other fund available and that's close enough to what I wanted (wanted spy)

[Anonymous No.56048307]

The US debt doubles every 8 years. We're all playing Russian roulette having assets the government could easily seize. About 50% of GDP is government spending, which is funded through money printing, so just raising taxes will not pay off the debt. It's almost guaranteed that they will begin seizing your savings within 25 years.

[Anonymous No.56048345]

>>56047816
>Withdraw it

Enjoy half of it disappearing to taxes immediately. It's not even a case of getting the full amount and being able to pay the taxes on it later. The issuing company won't even give you the full amount.

[Anonymous No.56048510]

>>56048307
>seize our savings
>m2 $11 trillion
>government debt $32 trillion
That would be like being a child with a weekly allowance trying to help their parents with the mortgage.
The money to service the debt doesn't even exist, it can only be paid off with more debt.

[Anonymous No.56048569]

>>56048510
Either they're going to seize your savings, or economic conditions will be so bad that you will raid your own savings. Either way you cut it, if you do the math, the US can't run for another 25 years.

[Anonymous No.56049114]

>>56048307
>>56047856
If this is true. Shouldnt I withdraw or something in the next decade

[Anonymous No.56049131]

>>56047816
Rollover if you left the job because they could be charging you fees. Otherwise just let it grow. Boomer it into an index fund and you’ll be fine while these meme fucks lose all their money.
My wife’s account is in 500 index fund and she’s out performing my account I managed and my professionally managed 401k

[Anonymous No.56049745]

>>56048510
M2 is $20TT.

But I agree, taking 401ks would be pointless and illegal. They'll just print more money and make them worth almost nothing.

[Anonymous No.56049757]

>>56049131
Yea I have it set to company match.

[Anonymous No.56049905]

>>56047816
Roth IRA will be your best bet tax wise down the road. Cashout for Bitcoin is the make it option. Rolling over into your next 401k can make sense if you earn enough to where you can just buy BTC and max your Roth IRA with cash. Basically it shouldn’t matter what you do with this money

[Anonymous No.56049928]

>>56047816
>Withdraw it and buy Bitcoin this next crash
what next crash?

[Anonymous No.56049944]

>>56047816
Roll to Roth IRA. Use it as a tax-free gambling account. High risk all the way until you either make insane gains or lose it all. Roth 401ks are only good as slush funds to be used to transfer into a Roth IRA.

[Anonymous No.56049951]

>>56048510
>That would be like being a child with a weekly allowance trying to help their parents with the mortgage.
False, you're not paying attention. The goal is to rob us, not pay off their debt.

[Anonymous No.56050688]

>>56049745
>They'll just print more money and make them worth almost nothing.
Printing money makes dollars worth less, so the assets in the 401k will pump relatively. At a certain point you can't just print money and you have to exchange things with value for government spending, like shares from a 401k.

>illegal
Good job the government can't change laws.

The government confiscating private pension holdings has happened before in multiple second-world countries with no notice (in preference to other private assets, because people will complain less if it was 30 years until they could access them anyway). There's no basis to say it can't, or even that it isn't likely to, happen in Amerikkka.

[Anonymous No.56052170]

>>56047816
always roll it over to an IRA that you control
it's your money

[Anonymous No.56052182]

>>56048211
>Rollover only makes sense if you have a year where you plan to be dirt poor.
Rollovers are not taxed, because they are not withdrawals.
Are you one of those retards who doesn't understand tax brackets either?

[Anonymous No.56053269]

>>56049131
Honest truth

[Anonymous No.56053342]

>>56047856
Yeah they’ll just outright confiscate your property… because they JUST WILL okay???

[Anonymous No.56053629]

the real move that (((they))) dont want you to know about it the 401k loan. you can take up to 50% of your 401k balance as a loan, that you pay back to yourself with (((interest))) over time, back into the same distribution of investments that it was disbursed from.

> grow 401k to 50k balance ASAP, utilizing employer match, and contributing up to the yearly pretax IRA limit (I believe this is 17.5k or 22.5k)
> take out a loan of 25k against your balance, pay a small (((installation fee)))
> pay it back over weekly / biweekly paycheck contributions - usually in a 3-6 year term for the loan
> no prepay penalties and it racks up interest that you are paying yourself back with
> now have a 25k "interest free" loan that you provided the capital for...
> open margin acct, already over the PDT barrier and have access to 25k in margin
> throw 50k on big cap mega cap right before earnings and hopefully get lucky

????

> pay back loan for the next year or whenever and do it all over again

[Anonymous No.56053657]

>>56053629
Interesting advice.