Thread 60859243

I don't understand how people can "retire" and live off $500K - $1M.
Boomer stonk divvies are great, until they're not and you're down 30%+ of your entire fucking "retirement" because trumpf decided he needs moar cofveve tarriffs.
It's literally the exact same scam as crypto steaking.
>B-but I'm earning $20K - $40K completely passive!!!! Y-you're aktchually the midwit!!
>Market tanks and you lose 5 years of "passive" income and now your passive income is also gradually reduced
Thanks for playing

>>60859243 (OP)
A 401k is simply a tax advantaged investment account, nothing else. You can either pay less taxes now by taking it out pre-tax, or pay tax on it now and take it out tax free later. Both are decent options to have depending on your income. Most companies also give you a match up to a certain percent, which works out to a decent return based on that alone. I’m not sure why zoomers are retards when it comes to retirement savings. You will still want money when you’re old. Stop watching (((finance influencers))), and start using your brain.

>>60859253
OR
Invest in something that doesn't get completely desecrated by the slightest political happening.
I heard Scott Adams rambling a few years ago, he was seething because Biden did something so that Boomers couldn't retire or something, he fucked with the amount they could withdraw without being financially raped or increased the amount of taxes on their accounts after the fact.
They can change the rules as they please, and historically, they have.
You're basically handing over your entire life to the government, which is just about the most retarded thing you can do.

>>60859275
Do you actually know what a 401k is? It sounds like you have no idea. You know a lot of 401k plans have the same funds you can invest in through a normal brokerage account.

>>60859243 (OP)
Anon you do realize you can lend USDC at 10%?

>>60859282
Do you ?
All stocks are gay and retarded.
Once you understand real inflation numbers, you would have to become a 99th percentile supertrader to out-perform the annual devaluation.

>>60859275
in australia employees are forced to put 12% of your income into 401k (called superannuation). The govt are currently changing the tax rules to tax it more.

>>60859294
Anon, have you learned nothing from do kwon, scam bankstein, arthur hayes or literally fucking anything about crypto the past decade lmfao

>>60859243 (OP)
>I don't understand how people can "retire" and live off $500K - $1M.
If you are financially conservative and responsible you will get a tax advisor who will try and figure out a safe withdraw rate that will only withdraw from your 401k enough that you won't ever go down in value. Conservative financialists say you can take 4% out of your 401k and never run out of money, because the dividends and growth should outpace that 4%, averaged out between good years and bad years.

So if you DO have 1 million dollars in your 401k, that's 40k a month + social security. If you have a house fully paid off hopefully that is feasible for most americans. The problem is nobody fucking has 1 million in their 401k nowadays, and inflation killed all of the boomers that were trying to squeak by not working while they were claiming that young people just don't want to work.

>>60859300
It's 8-12% in Canada
Shit is so fucking retarded, stealing from me and reducing my investment power so I may enjoy it when I'm an 800 year old fossil

>>60859313
Some people also argue against 4% estimated safe withdraw rate. Some say it only works for like 20 years before falling apart (probably depends on inflation). Some people like dave ramsey say you can safely withdraw 8%, but then he tries to sell you his super amazing mutual fund that beats the S&P 500 every year, but he won't tell you what it is unless you subscribe to his program.
But all young people should be really nervous about retirement instead of saying "I JUST WANT TO ENJOY MY MONEY WHILE I'M YOUNG, I COULD DIE TOMORROW!" well don't come crying to me that you're working while you're 70+ and I've retired early.
Young people should be maxing out HSAs, putting at least 10% into 401k, and then when they THINK they are ready to retire, they need to just go down to part time which gives them a few years to do roth IRA conversions of their 401k while their part time income is low.

>>60859275
>Invest in something that doesn't get completely desecrated by the slightest political happening.
like what?

>>60859315
>>60859300

I don't know how different your economies are or how different your "401ks" are, but you should probably be putting 10% in anyways.

If you don't like it, blame the retards who blow every penny that crosses their path, and then when they run out of money they start cryign "PLEASE LET ME RETIRE WITH DIGNITY, YOU WOULDN'T LE TA POOR OLD MAN STARVE, I'M TOO OLD TO WORK, ARE YOU JUST GOING TO LET A SENIOR CITIZEN DIE ON THE STREETS!"

I have some family members like this right now. They keep asking the family for money to live off of because they lived beyond their means for their whole lives but are startign to get old

>>60859243 (OP)
>B-but I'm earning $20K - $40K completely passive!!!! Y-you're aktchually the midwit!!
this but unironically

>>60859300
>>60859315
In Australia and Canada, are you referring to state pensions or are these privately held retirement savings accounts you manage yourself? A 401k is optional, you don’t have to invest in it. Social security sounds like what you’re referring to which is forced.

>>60859313
>>60859326
>Earn 8%+ which is considered god tier yield
>Inflation is 30%+
No thanks jeffery

>>60859329
Gold / Silver for a true store of value
Real Estate since people will always need a place to live regardless of any happenings
Crypto for any additional investment - has held up better than anything else if you know what you're doing.

Stocks are a jew-ish scam.
Paper notes were created exactly for this purpose, nobody owns anything and your entire life's savings can be taken away from you in the blink of an eye.

>>60859343
yeah, these last five or so years are a bit of an inflationary anomaly. Unless you are retiring right now, you shouldn't throw out all of the rules because of some weird shit going on right now.

But yeah, that's why you should probably be conservative and only withdraw 4%, in retirement, so if the market grows at 10% a year on average, you still get 6% growth to stave off inflation as much as possible. Keep in mind, for someone retired, inflation hopefully won't affect them as much. Someone retired should be going out to eat less, should be driving less, should have their house paid off. Inflation will hit them at the price of groceries and energy bills.

>>60859357
>Someone retired should be going out to eat less

Old people go out to eat more because they nothing to do. You ever go to a bar or restaurant and see someone that's on a first-name basis with the waiters or waitresses? They're usually 60+ for a reason.

>>60859338
>They keep asking the family for money to live off of because they lived beyond their means for their whole lives but are starting to get old
Sad really but I feel no empathy for them. Boomers could buy homes on a single-income within a few years. Had they done literally fucking anything with their money, they would be very well off.
>>60859357
>anomaly
You can see in real time that the boomer scam is coming to an end. It makes no difference whether you acknowledge this fact or remain ignorant. The hard times are about to begin.

>>60859374
The real scam was moving from defined benefits pension plans to defined contribution pension plans. Up until the 1970s companies themselves would pay you a pension, rather than contributing to your pension plan. Some boomers who got in before the switch still have this.

>>60859341
Canada Pension Plan, so social security / insurance. It's not even an investment account, they just steal the money and hold onto it until you turn 800
8-12% of your income *poof*
which is a significant portion of unrealized compound gains on investments

>>60859423
I just looked into it, and the Canada Pension Plan (CPP) has an estimated rate of return of 2.1% for those retiring after 2037, so basically all millennials and Gen Z. That insane. You’re actually not even keeping up with inflation. You do have RRSPs though which seem to be the equivalent of a 401k, and TFSA’s which look like a better version of a Roth IRA. It could be worse. In all fairness, with such a piss poor rate of return they should give you the option to opt out.

>>60859419
WWI & WWII solidified the total enslavement of mankind, via the establishment of the "federal" reserve.
Also fucking hilarious how the government said we le neede ur ebbin taxes for da war and then they just kept it forever and now your taxes goes towards your own genocide.
Any "service" that your taxes fund actually protects the government from any kind of retaliation.
The past century has been unfathomably retarded.

>>60859243 (OP)
Yes. Also they're used to undermine the west by promoting propaganda, funding ngo trafficking and disenfranchising native populations into a slow descent of collapse. All at the hands of globalist marxist bankers and religious clans of jews and muslims. Usury is a weapon to destroy. That's why jews and muslims generally outlaw it in their own countries.

>>60859243 (OP)
>friend mocks me for using dextools like a zoomer
>three days later he’s begging me to send him the memecoin link
>yeah, that’s what i thought

>>60859432
Canada is the 7th layer of Satan's asshole.
I can't login to any bank without seeing a fucking nigger on my screen. Our credit cards don't have the option to abuse benefits the way americans can. I gotta admit that the TFSA is pretty friggin nice, but boomer stonks again are totally fucking down syndrome to invest in imo >>60859343 unless you're just yoloing into tech stonks expecting a significant return but at that point it's the same as crypto gambling

>>60859461
S&P500 is boomer tier and only made sense when inflation was basically non-existent (1980-2020). Now that inflation isn’t only present but expected well into the future, you basically need to gamble on the stock market and hope you hit it big. For me I take out LEAPs and calls in my Roth IRA on Bitcoin ETFs. Thats my retirement plan, gambling on crypto. I also have 1/2 of a Bitcoin, so hopefully Michael Saylor is right.

>tfw maxing Roth IRA via backdoor
>tfw maxing pre-tax 401k
>tfw maxing HSA
>tfw maxing post-tax 401k
>tfw mega-backdooring post-tax 401k into Roth 401k
>>60859243 (OP)
>he uses divvies for income
ngmi, invest for growth, borrow from your (taxable) positions via securities backed lending to invest in multifamily or commercial real estate, use the real estate income to generate income uncorrelated from the market, write off the interest you pay on the loan from said income
>>60859492
>average yearly S&P 500 return is 10% since its inception
>average yearly inflation in the same period is 3.5-4%
anon what the fuck are you talking about

>>60859492
Bitcoin shouldn't be your retirement plan my nigger
see >>60859347
Saylor is a retard and he's right, until he isn't (he lost everything after the dotcom collapse and the exact same thing will happen to him again as the face of bitcoin)
The reality is, if you're not retired from BTC right now, you never will be. You have to invest aggressively into an array of shitcoins or shitstocks, or play it "safe" and work until you die.
Never forget that crypto is a creation of man (sinful, corrupt creature) and that Gold is a creation from God.

>>60859517
>inflation is 3.5-4%

>>60859343
I'm confused, didn't the s&p vastly outperform inflation the last few years?

>>60859525
>what is reading comprehension

>>60859243 (OP)
Dude had to type out covfefe and got it wrong.

>>60859517
Based anon gets it, skip the schizos

>>60859243 (OP)
ITT midwit doesn't know the difference between investing and trading

>>60859341
no. social security is different. australians all get taxed to fuck to pay for that. in addition there is compulsory 401k. Privately held retirement savings that are mandatory to contribute to over the course of your working life at a current rate of 12% that can only be accessed without penalty once you reach retirement age, currently 65. We do not see this money, it is put into your nominated 401k account typically at each pay cycle by your employer.

TRUMP ENDED INFLATION

STOP USING INFLATION AS AN EXCUSE

BUY S&P IN YOUR 401K NOW YOU FUCKING ZOOMERS. I DON'T WANT TO HAVE TO PAY FOR YOUR UNDERFUNDED RETIREMENTS THROUGH TAX RAISES

>>60859313
it's funny how "solve one high school algebra problem" is a profession because of how retarded people actually are

>>60859243 (OP)
>24 yo
>no 401k
>no roth ira
>only savings are fiat, locked in a box in an obscure corner of my closet
I have 25k so far. I waggie and I buy crapto.
>BTC (when very cheap, haven't bought in a while)
>ETH (got lucky, sold the top)
>SPX (good long term gamba coin)
>ANON (good long term gamba coin, fees support something I actually support, don't care if anything bad happens to it)
>TRUMP (usually just flip it the same day, buy for cheap, leech off of rightoids)
I don't know if I'm going to make it or not but so far so good imho.

>>60859658
Do you at least choose what the super annotation invests into, or does the government decide? If the government decides, do they at least report how they’re doing?

>>60859315
But forcing wagies to invest in the stockmarket via 401k keeps the market moving higher so I can profit. If you gave them the money they would waste it on bullshit and my stock market investments won't do as well. I say we keep forcing wagies to pump up the stockmarket.

>>60859461
psst
you can buy canadian TSX USD/BTC ETFs tax and commission free in your TFSA

>>60859243 (OP)
my man

>>60859347
>Real Estate since people will always need a place to live regardless of any happenings
real estate has a massive premium for the "investment" aspect. It will be progressively demonetized by Bitcoin and you will get liquidated. its only value will be desirability of the actual location and the cardboard box you get to inhabit. a pittance of current valuations.

I-is my roth good?

>>60859697
you get a choice. you can tell a fund how you want to invest or you can also do a self-managed fund. with the managed fund, they're forced to publish their performance so you can pick and choose the best option.

>>60859783
>10% RRSP contribution every paycheck
>Roll tax refund into RRSP every year
>Buy dividend index ETFs
>Retire in your 50s no problem

I tell every kid I can to do this as soon as they can open an RRSP.

>>60859243 (OP)
>Market tanks and you lose 5 years of "passive" income and now your passive income is also gradually reduced
I'm 40, this has never happened to me.

>>60859783
psst
not pumping your bags faggot
a BTC ETF literally defeats the purpose of crypto
>>60859799
>real estate will be demonitized by bitshart
get a load of this stupid fucking nigger.
Homes/apts are being used 24/7. Bcore is used... never. Your bootleg lightnig network doesn't even render it useable. The only thing getting liquidated is your bussy for being such a little faggot

>>60859901
>dis nevar happene me
>2001
>2008
>2020
>2022
>2026
>2030
fucken FAGGOT

>>60859243 (OP)
1) people don’t retire exclusively off 401k’s they have SS, inheritance, after tax accounts, home equity, Medicare/medicaid, welfare if necessary, or some kind of Walmart greeter old person job if they were retards and didn’t save.
2) nobody is supposed to keep all their money invested in stocks or other risk assets when you stop working, you’re supposed to do something like 60/40,70/30 stocks/bonds. If you have 1M taking out 4% this means 300k-400k will be in cash which could last you 7+ years

What happens to your 401k fund after you die? Do your kids inherit it?

>>60859986
it all goes to israeli widows

>>60859243 (OP)
It's a way for the elite to dominate society by having their minions invest public money into the companies that they own, creating a total monopoly. Now they run every nation on the planet like this because they threaten to tank the economy or pension funds if politicians don't do what they want.
Want to stop immigration? Sorry, need to artificially pump the GDP.
Want to lower taxes? Sorry, need more welfare so Ngubu and his kids can buy our products with his welfare.

Modern economics is a Ponzi scheme.

>>60860117
yep. the australian superannuation system total assets are valued at 4.1 trillion dollaridoos.

>>60859974
>he doesn't know about dividends
grim.

>>60859984
>supposed
Not anymore you aren't. Bonds no longer provide protection against market swings, the last 3 market crashes saw bonds drop the same as stonks.

>>60859243 (OP)
Lrn2StopLoss

>>60859282
>you know a lot of 401k plans have the same funds you can invest in through a normal brokerage account.
that's not true at all. most plans limit you to buying a handful of mutual funds offered by the plan. only self directed plans allow you to buy individual stocks at your own discretion.

>>60859297
So, buying and holding the S&P 500 in whatever ETF or fund suits your fancy?
Not too complicated, and it's funny that people still mess that one up.

>>60859243 (OP)
>huuurrrr ddrrjmphhh haha lol
Why are you redditors so fucking stupid???
this >>60859253

>he wants to "retire"
lol
lmao

>>60859243 (OP)
>until they're not and you're down 30%+ of your entire fucking "retirement" because trumpf decided he needs moar cofveve tarriffs.

look at this retarded liberal still bitching about a 2 month dip after the market has already recovered hahhaha

you people are fucking sick

>>60859243 (OP)
>401K's are a boomer scam
True
>you're down 30%+ of your entire fucking "retirement" because trumpf decided he needs moar cofveve tarriffs.
It's literally the exact same scam as crypto steaking.
I guess a retarded clock is still right once a day

I'm hoping a combination of my 401k, brokerage account, and crypto investments (and guns) will let me survive the Hell that our world is going to be 30 years from now

>>60859243 (OP)
>>60859253
literally better off buying gold now with after tax income and putting in a hole than playing this game of dropping money into equities to be taxed later ( at a lower tax rate guys I promise that inflation doesn't exist! ).
401k are a liquidity scheme and the cream that gets taken off the top to keep a wealthy class of people constantly making profits when times are good and to have exit liquidity to sell to the suckers prior to the crash, rinse and repeat every time we have a totally organic financial crisis ( the totally organic should be a clue that there hasn't been a financial crash in modern times that the wealthy class of insiders hasn't known about in advance and used 401k contributors as exit liquidity at the expense of your own potential wealth ).
Land will never go up in value as quick as gold, and land prices tends to fall faster than gold. So logically speaking if you're in your 20's, 30's or even 40's, based on the government debt continuing to increase with no real reforms to prevent a continuous expansion of the money supply, it is a mathematical certainty that the system as we know it today will not exist over the next two decades and there are massive assumptions regarding retirement tax advantages that are null and void as an argument with the current debt expansion trajectory of the United States government balance sheet. You're better off just accumulating physical gold with the after tax money you make right now.

>>60861751
You can do a Roth 401k and pay current tax rates, if you’re that concerned.

>>60861751
People thought that 50 years ago and now those people have no retirement.

>>60861774
you are obtuse if you believe that Roth 401k tax structure is not the first piggy bank raided by the government during the impending financial debt crisis coming during the next planned financial crisis cycle.
I seriously do not understand people who think the government will not change the rules immediately when they have their backs against the wall against angry people who begin to realize they have been lied to their entire lives by a system that milks them for everything they have.

>>60861793
if people lived by the advice I am providing in my post since 1975 they would have out-performed equities, the price of gold vs the S&P 500 since Richard Nixon took the US dollar off the gold standard in 1971...
You can lead a horse to water but you can't make him drink.

>>60861799
I’m sure they have a lot of other shit they’ll raid before they do anywhere near people’s private retirement accounts. Social security and other entitlements will go long before.
Also, they’ll just start a war and cull off half the population to balance the budget.

My company does a 50% match up to 6% my salary so I basically get an extra 3% of salary for free. If I take it out then I need to pay a 10% penalty so still 40% free money and then I need to pay taxes on it (which I would do anyway without the 401K)

>>60859243 (OP)
this >>60859253
If my employer is matching, why would I say no to that money? Is this some kind of new zoomer math? maybe my old brain can't grasp it sorry

>>60859347
>Gold
>a true store of value
Fucking midwit

>>60859347
>owning production and machines that produce stuff is a jewish scam but shitcoin is total not gambling, trust me saar
Retard.

1 million in a 5% 30 year bond is $50k a year.. Any leftover money you get will be invested into ETF's... what's wrong with this?

>>60862140
This is why I can't fuck with gold super long term vs stocks. Always room for innovation and growth with stocks but gold is just pure market demand and supply.

Forget about buying the top in 1980 let's say you bought at beginning of 1984... 20 years later in 2004 you would be at break even. Same thing can happen with Bitcoin.

>>60861793
some of you are VERY behind