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   KK954 (kk954@nicecrew.digital)'s status on Wednesday, 27-Nov-2024 02:31:41 JST KK954

   • Tyler
   • That Mushroom
   Generally, a 401K is not the greatest investment. If your employer contributes to it each year, it makes sense, if not invest on your own.
   Whoever manages the fund for the employer will have a list of the mutual funds that are available. The list should show you the performance of each mutual, pick the ones with the best performance. You can pick as many as you want, as long as it adds up to 100%. meaning you could have 10 mutual funds and contribute 10% to each.
   
   Tax wise, if your income was $20,000 and you invested $5000 in a 401K, that reduces your taxable income to $15,000. Eventually you will pay the income tax when you withdraw. But the idea is later in life your total overall income will be less, so you will pay less in taxes on the amount. With the Roth, you pay the income tax now.
   • Bread up, Bro likes this.
   • Embed this notice
     That Mushroom (that-mushroom@nicecrew.digital)'s status on Wednesday, 27-Nov-2024 02:31:40 JST That Mushroom

     in reply to

     • Tyler
     None of this makes sense
     Bread up, Bro likes this.
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     Bread up, Bro (sickburnbro@poa.st)'s status on Wednesday, 27-Nov-2024 02:32:08 JST Bread up, Bro

     in reply to

     • Matty
     • Tyler
     • That Mushroom
     @matty @That-Mushroom @KK954 @tyler in general, it doesn't make sense because it's all games that are designed to trap those that don't know them.
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     Matty (matty@nicecrew.digital)'s status on Wednesday, 27-Nov-2024 02:32:09 JST Matty

     in reply to

     • Tyler
     • That Mushroom
     It's investing money now, pre tax in most circumstances, to someone that may or may not pay off in 30 years when you retire.
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     Bread up, Bro (sickburnbro@poa.st)'s status on Wednesday, 27-Nov-2024 02:38:18 JST Bread up, Bro

     in reply to

     • Matty
     • Tactical
     • Tyler
     • That Mushroom
     @Tactical @matty @KK954 @That-Mushroom @tyler it's less ridiculous than social security ( as constructed ) and how pensions turned out, so it's all just a giant clusterfuck, sadly.
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     Tactical (tactical@nicecrew.digital)'s status on Wednesday, 27-Nov-2024 02:38:19 JST Tactical

     in reply to

     • Matty
     • Bread up, Bro
     • Tyler
     • That Mushroom
     401k is a game of shekelnomics where odds are you'll get fucked... Frankly every investment is :/
   • Embed this notice
     Matty (matty@nicecrew.digital)'s status on Wednesday, 27-Nov-2024 02:38:20 JST Matty

     in reply to

     • Bread up, Bro
     • Tyler
     • That Mushroom
     It also requires you taking X percent less home every paycheck. You can't do that anymore. And, even if you did, what, so you could get fucked out of it? Absolutely not. I will contribute the bare minimum because I have to keep the roof over my head.
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     Tactical (tactical@nicecrew.digital)'s status on Wednesday, 27-Nov-2024 02:40:26 JST Tactical

     in reply to

     • Matty
     • Bread up, Bro
     • Tyler
     • That Mushroom
     yeah honestly now there's not really any reason to work for anybody else. Benefits are dogshit and wages are dogshit, and chances are you'll just get replaced by an Indian
   • Embed this notice
     Bread up, Bro (sickburnbro@poa.st)'s status on Wednesday, 27-Nov-2024 02:40:26 JST Bread up, Bro

     in reply to

     • Matty
     • Tactical
     • Tyler
     • That Mushroom
     @Tactical @KK954 @That-Mushroom @matty @tyler best thing to do seems to do what the soap guy is doing, just build a business with people you can trust