What's the point in contributing to 401ks?
You cannot touch it until you're too old to enjoy it anyway

even pretax 401k is taxed when you withdraw and you can only take out certain amounts unless you incur huge penalties

its a scam for boomers largely; the ones i talk to tell me to do it but i could have made more with the money at present value than let it rot in an account i cant touch. plus, ill likely be dead before retirement

>>60501610
what's a better alternative, then? This is assuming you skip the 100% matching from the employer.

>>60501591 (OP)
the point is that you're getting scammed
because you could just DCA into stocks yourself, without a fucking custodian as if you were a small child

>>60501620
>what's a better alternative, then?
you could just do what they do with 401k money (market buy everything)

is it really so hard to believe that the government would make just a single honest incentive to encourage people to save for retirement?

>>60501663
>>60501667
but is it worth losing out on the 100% matching? I'd be putting the money in either VTI or BTC otherwise

there are just many boomers right now who need money

>>60501591 (OP)
Trust me, little one. If you save nothing now, you will be filled with regret when you are 60.
At 60 people are still fit and healthy and have 30 years ahead of them.
Invest, my little peach, or be a very sad old person.

>>60501610
Lel I took all of mine out and took the tax hit and bought chainlink during the flatline in the bear market at $7. 410ks are for FAAAAGS, I'm a pirate and I'll do whatever I want.

>>60501679
yes because there's no vesting period
you're also not forced to diversify into dogshit like IBM

You can borrow against it

>>60501694
I'm not going to blow it. I already invest half my paychecks directly to BTC and VTI. I'm just wondering if I should stop contributing another few hundred a paycheck to my 401k and instead dump into BTC/VTI 50/50 split
>>60501711
what do you recommend putting it into? above is my plan, wondering if I could do better

>>60501694
he's not asking if he should save or not
he's asking if he should save through a 100% match 401k or just a normal brokerage

>>60501721
>BTC and VTI
that seems reasonable
and no vesting

>>60501694
Most men at 60 have already given up, they all have cunt missuses that have killed everything that made them human

>>60501711
>>60501727

at worst you just pay the 10% early withdrawal fee. And even after that you still come out ahead, as long as you just put in what the company matches

>>60501591 (OP)
>You cannot touch it until you're too old to enjoy it anyway
You can't but the (((bankers))) can. They touch it all the time. They take it around the block a couple of times. They take it places you never could. And then once they are done with it and "enriched" it's value you get it all back. Hope you enjoy!

Reduces your taxable income. You can borrow against it, and you can also pull early, you’ll just be hit with a 10% penalty and have to pay income taxes on the pull

>>60501799
>>60501791
>>60501728
Do you think I should do anything with these?
Looks like my 401k is earning 10% on average a year
I think my employer wasn't matching 4%, so just changed it to 3%
I moved my previous employer's 401k to a roth to buy VTI

>>60501591 (OP)
About-to-retire Gen X here and I mostly agree. The employer matching and the "set it and forget it" nature of the thing is very nice, my first employer matched up to 6% iirc which made it nicer. I'm not a fan of maxing out the 401k partly because it locks too much of your savings away till you're pretty old, but mostly because every 401k I've ever contributed to had a pretty sucky selection of investment choices. Just put in enough to get the matching contribution, then max out your Roth, then put the rest into a brokerage account like Schwab or Fidelity. Probably some others are good too - Schwab is nice because it's also a bank so you can get your paycheck direct deposited there, write checks and do all the normal bankish shit. Anyway, ocus on growth-oriented ETFs when you're young, then a mixture of growth- and value-oriented ETFs when you're middle aged.

>>60501591 (OP)
Its called rule 72(t) you absolute clueless niggers

>>60501620
go all in on leveraged BTC

>>60501663
No it absolutely is tax advantaged, if you want to play by the rules that is

>>60502686
isn't that too risky?

>>60501591 (OP)
>What's the point in contributing to 401ks?
Here in the EUSSR we have no choice, which shows that is is just another form of taxation.

>>60501591 (OP)
Yes you can. You can take out loans, roth convert, 72t, or rule of 55.

>>60501620
>100% matching from the employer
My employer doesn't match -_-

>>60501591 (OP)
I think it's because your employer generally matches you

>>60501591 (OP)
I only use a Roth IRA for exactly this reason. If I’m gonna lock away money for decades I want it to only be a little bit in something that i can contribute to that isn’t chained to employment

>>60501591 (OP)
>he doesn’t know
roth conversion ladder

But even if you had to pay the 10% penalty, you would have to be retarded to not at least do whatever match your employer offers.
200%*90% is still 180%

>>60501591 (OP)
Imagine donating to something literally named 401k. Like what kind of name is that just sounds like a scam.

>>60501591 (OP)

You can, but you'll usually get penalized out the ass, unless you use it for emergency medical expenses, or emergency mortgage expenses.