Is a 401k actually worth it or is just a meme because everyone does it?

Is a 401k actually worth it or is just a meme because everyone does it?

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I think it’s a good back up plan, which is why I make regular contributions. If your company matches there’s no reason not to.

Depends on how much your employer contributes, but it's usually a bad idea. Unironically, look into index funds, or learn how to use tokensets.

It’s 100% worth it as a base investment

I contribute up to the employer matching limit, then I pay off debt, then I fill up my Roth IRA, then I go into crypto

If your company matches it is worth it. Just think of it as money you are not going to touch until you retire.

For me it is the most tax friendly investment vehicle I can find since I make too much to have a ROTH IRA. Thinking about maybe getting a rental property out two so I can carry out the Jew meme.

Every dime you have to spare should be going into link, king

Yes, it will allow you to afford cleaning supplies to clean your bathroom counter

shut the fuck up and get off my board, newfag

FUCK OFF NAZI

nobody likes you here

Fuck off faggot

>He's not an enlightened super-fascist that uses hermetic techniques hidden since the foundations of the world to invest with wisdom that is beyond the world that is contingent.
>He's not an immovable pole-star about which this world eddies and flows.

ngmi dude, not gonna lie.

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Only if your employer matches contributions. In that case you get free money.

By the way you can take out penalty-free withdrawals now due to COVID19. So now instead of waiting until you die to get that free money you can use it now to buy memecoins

based

I looked into that and apparently you have to pay it back within a certain time frame or else they will bend you over and take the taxes out of your virgin anus

It lowers your income while also appreciating. Depending on the options available it's a pretty good deal. Aside from penalties for withdrawing you should at least get the employer matching, otherwise I prefer the taxable accounts because who the fuck waits until they are ali to retire

Not true.

you CAN do a loan off your 401k, but the Care Act lets you withdraw it fully.

Yeah it's good, especially if your employer matches like everyone else has said. Thank god for it too because otherwise I would have never saved any money

You are right. There is no withdrawal fee, and you don't have to pay it back, you just have to pay taxes on it. There are stipulations on who can do it, but the stipulations are very lax and nearly everyone can

You have to pay back the loan, but the withdrawal is yours to keep. You just have to pay income tax on it (which you will do anyway when you're 60 during your scheduled distributions).

If you have an employer that matches your investment up to a certain percentage, you should be absolutely using 401k to the maxed matched percentage. If your employer doesn't match, then invest yourself unless you're sub 100 IQ

Honestly if it keeps you from spending the money and trick you into a lifestyle with lower budget, then yes. The fact your saving and not spending is critical.

god I wish that were me. need to start pinning

you can have index funds and similar investments in a 401k.

might want to check your options again

>avoiding taxes
BASED

hairy nazi, can show more?

That's a man.

can't. has to hide

how much u bench bro

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whyy, ure a hot, show more