TBD
To Be Destroyed
this post was submitted on 10 Mar 2025
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they 'have one', I have had friends who found out an employer created one for them with pitiful amounts of money in them, or they got paid partially in them. nobody I know genuinely believes they're going to retire. very few people I know believe in a far-future. not far as in 'i read the foundation novels and damn, that shit blew my mind because im the most basic bitch possible' i mean 'far future' as in 'I might die older than my grandparents'
that's not to disregard what you're saying completely, of course. it will fuck a lot of people up. im sure. but line-go-up hurts just as many, if not more, people.
Then your friends and people you know are morons. If your place of work provides a 401k or 403b, you can talk with an advisor for free to decide how you want to invest and how much. There is pitiful amounts of money in them because they didn't add anything beyond the minimum and whatever their employer is matching. It's also a good way to lower your tax burden at year end.
If your employer doesn't have 401k or 403b, it's even more important to have a Roth IRA. You can't put as much into it each year and it's post tax dollars, but it's better than thinking you'll ever get social security in 20-40 years.
401k is a scam that was used to help kill pensions. The only reason to use one if your job locks part of your pay behind matching some of your contributions.
Even the tax savings is a lie. It's just a deferment and you pay the full income tax rate on it when you are eventually forced to withdrawal it. Even on the gains if you're lucky enough to be up when you need it.
It also systematically intentionally forces the most vulnerable to be entirely dependent and aligned on capitalism
Yes. You eventually pay the taxes on it. However, there is this thing you've never heard of called "Marginal Tax Brackets" This makes it so that when I do eventually pay the taxes on it, I'm not paying at the income level of when I was employed and instead much lower when I'm retired.
Pensions are better, but calling a 401k a scam just makes you look stupid.
If you have enough in it to live comfortably, it's not better than rolling your own and paying at the capital gains rate. To actually save you better really like tuna fish sandwiches.
I would suggest you learn a little more about how Capital gains tax rates, both short-term and long-term, are impacted on a 1099 form, before talking about tax breaks, tax brackets, or investments. Please do not give anyone advice. You are not a financial advisor and the advice you are giving, would ensure no one has a life or savings before or even after retirement.
Advice you yourself seem determined to ignore.
Well let's compare advice.
Your advice is: "Don't invest money. Store it under your mattress. 401ks are scams because I don't understand taxes."
My advice is: "Don't listen to this moron."
Your reading comprehension issues do not speak well to your advisory abilities.
lol, thinking you'll be alive in 20-40 years. should I throw salt over my shoulder in case there are fairys there? offer up sacrifices tot he gods? stay off ships named after greek goddesses of agriculture, or just stuff from greek myth in general?