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/biz/ - Business & Finance

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57981778 No.57981778 [Reply] [Original]

Is it worth contributing to a 401k? I hate the fact that the money is essentially locked up until you are a boomer, and at the end of it all u still pay regular income taxes on it all instead of long term capital gains in a taxable brokerage

>> No.57981883

>>57981778
Wait, you pay tax on a 401k? I thought its like an ISA where you have a tax free allowance (currently 20k bongbucks)

>> No.57981944

>>57981883
Contributions are tax free, but once you withdraw your gains in retirement it's taxed as regular income

>> No.57981960

>>57981944
Tax deferred is the term

>> No.57981964

>>57981778
Yeah nah don’t contribute retirement is a scam OP

>> No.57981970

what do you think, it's literally a jewish banking trap to steal your money

>> No.57981978

>>57981778
Buy gold for retirement
In Canada gold savings is totally tax free.
401k is a scam, you as a millennial will NOT see any of it.

>> No.57982358

>>57981883
ALWAYS match what your employer matches. Dont listen to any of the retards here telling you 401k is a scam. They are all children living with mommy buying shitcoins with 3 fig portfolios.

>> No.57982412

Yea contribute employers match unless you're super disciplined but you're on biz asking if 401k worth it so you should definitely contribute lol.

>> No.57982459

>>57981778
>employer gives you free money for investing in it
>grows tax free aka
>no taxes when selling profitable positions
>withdraw money in your retirement as income tax when you're not working anymore and your effective income is near 0
What the fuck do you think, retard? The people telling you not to invest in 401k are selling you something else. Always.

>> No.57982495 [DELETED] 
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57982495

>>57982459
employer gives you free money for investing in it employer match is just a trick to make you feel like you're working honey badger erc is the only real financial instrument - it's the biggest hedge against inflation which is just a euphemism for wage theft don't be a wage cucker buy honey badger tokens and be a sigma like me and my honey badgers with 200 trillion inch penisus unlike these nobadger retards