401k Plan might be a Bigger PONZI Scheme than Social Security. 401k Bubble will BURST.

[Shadow King]

Unrelated why is @BaldingSoHard banned?

 

[Maximus Rex]

If the 401K "bubble" bursts, we are living in a Mad Max-type world where food, water, and guns/ammo are the most prized possessions.

 

[Strapped]

Your employer usually pays the fee to manage your 401k
Feds will get there cut once you reach 60 & start withdrawals, some states do not tax 401k

 

[Concerned Citizen]

401k isn’t a Ponzi scheme but it is based on a market that is a house of cards.

 

[Stuntone]

Prove it. Just a screenshot of a paystub and what's in your savings/checking account. Should take you less than a minute to edit out your personal details on a phone.


Stop fukking lying. Explain to everyone here how YOU took money out of your 401k to pay your home off. If it's a trad 401k, the withdrawal gets added to your W2 income for the year. If you take out any significant money required to pay off a house, you just put yourself in the highest tax bracket. That's not even including the 10% penalty taking the money out before 59.5. Hell, the broker will hold 20% off the top for withholding to Uncle Sam by law. If it's a Roth 401k, you have the pro-rate rule, the 5 year "locked" rule, the hardship rule and the $50k max loan rule.

If the plan is with an employer, whether it's trad or Roth, your plan probably prevents you from taking anything out until you retire or quit the job where you can do a rollover to a IRA.

Dude, I'm a IT manager for a fortune 500 company. My base pay is 98k plus AIP and bonuses. I don't have to lie about money bruh. I was making 100k 15 years ago. I'm an OG IT cert bandit.

I'm 80% VA disable (that puts me over 150k)

And I dj a few times a month, I do sound engineering for business and lease out my equipment to event center, venues and other djs.

I might hit 200k this year if I grind. I can save 6k - 7k a month if I'd wanted. I'm a real live Hustler my boy.

No rent, no mortgage in years. About to buy another house and let the rent from my current home pay for my new one. Yes, I took a beating with penalties, had to file it on my taxes, but it was worth every penny. And I didn't have a crazy mortgage.



Fukk all that tho, my things why wait til your 65 to experience some financial freedom.
And they spoon feeding you your own money???


My life and feeling about life changed when I paid my home off. My floor is high now. I can get fired and lose it all, but i steal have that house. I can move into it or rent it out.


I'm not say the 401k is useless, but to leave your money in that casino for 30 40 years is CRAZY AF.

I still have a 401k, I'm going to clean it out again for the right cause. And having a home paid off is the right cause.

 

[Stuntone]

So this means we should take our money out and eat the penalty right?

I was thinking of doing this to finance a house.

Hell fukking RIGHT!! "1 in the hand is better than 2 in the bush"

Ya'll just don't understand. Listen to me Family, THERE iS NOTHING BETTER THAN HAVING A HOUSE PAID OFF AS AN WORKING AMERICAN. NOTHING.

Nothing puts you in a better position to advance to the upper class than having a house paid off. You know why so many CACs are really winning and eating? Parents left them a home. All your income is at your disposal. No lie dog, I bring in around 8k a month after taxes. My monthly bills are around 1k grand. 400$ car note, 250$ and 125 cell are my highest bills.

You rather have ?

A) a $375,000 house paid for. ( A real live hard asset) The ultimate asset.
1000s of dollars a month to invest in other ventures.
Piece of mind like a muthafukka, knowing no matter what goes wrong financially, you always have that home and/or ability to rent it out and bring income.
Ability to borrow against it, at lower rates to get another home. ( I'm about to buy a better home, but the rent from my current house will pay for my new mortgage. And I can borrow against either to start a business or buy land or whatever I want.
Ability to start another 401k (mine is almost what it was when I cashed out 9 years ago.)


B) $500,000 sitting in an unstable 401k plan for 30-40 years hoping it keeps growing? Even if it does, you'll be 65 getting spoon fed your own money.
While you be stressed and struggle in your 30s, 40s, 50s and 60s still working, money tight and struggling to pay the mortgage. Making massive payment every 1st of the month for 360 months. Lord Hammercy.

 

[MyApps]

Hell fukking RIGHT!! "1 in the hand is better than 2 in the bush"

Ya'll just don't understand. Listen to me Family, THERE iS NOTHING BETTER THAN HAVING A HOUSE PAID OFF AS AN WORKING AMERICAN. NOTHING.

Nothing puts you in a better position to advance to the upper class than having a house paid off. You know why so many CACs are really winning and eating? Parents left them a home. All your income is at your disposal. No lie dog, I bring in around 8k a month after taxes. My monthly bills are around 1k grand. 400$ car note, 250$ and 125 cell are my highest bills.

You rather have ?

A) a $375,000 house paid for. ( A real live hard asset) The ultimate asset.
1000s of dollars a month to invest in other ventures.
Piece of mind like a muthafukka, knowing no matter what goes wrong financially, you always have that home and/or ability to rent it out and bring income.
Ability to borrow against it, at lower rates to get another home. ( I'm about to buy a better home, but the rent from my current house will pay for my new mortgage. And I can borrow against either to start a business or buy land or whatever I want.
Ability to start another 401k (mine is almost what it was when I cashed out 9 years ago.)


B) $500,000 sitting in an unstable 401k plan for 30-40 years hoping it keeps growing? Even if it does, you'll be 65 getting spoon fed your own money.
While you be stressed and struggle in your 30s, 40s, 50s and 60s still working, money tight and struggling to pay the mortgage. Making massive payment every 1st of the month for 360 months. Lord Hammercy.

Im real green when it comes to this stuff.

How do I find out how much I even have in my 401k?

If I worked different jobs over the past 15 years, does it all get rolled into 1 account?

Honestly curious

 

[Maximus Rex]

Im real green when it comes to this stuff.

How do I find out how much I even have in my 401k?

If I worked different jobs over the past 15 years, does it all get rolled into 1 account?

Honestly curious

You should have an account with someone.

My 401 (k) is with Transamerica. If I left my job, I'd have to transfer it over to a new provider unless my new job uses the same provider

Also, you should have been receiving statements, more than likely, you don't have one, as they've been opt-in and have only recently begun last year to be opt-out

https://lostandfound.dol.gov/

Can find out if you have a plan available, you are gonna need a login.gov account

This one for finding plans if the company went out of business

Ask a Question | Employee Benefits Security Administration

www.askebsa.dol.gov

 

[maxamusa]

Shout-out to @Stuntone he saw the play before anyone else.

'Buyer beware': Legal expert says private equity funds could pose big risk to your 401(k). Here's what you need to know

https://finance.yahoo.com/news/buyer-beware-legal-expert-says-124500760.html

Trump wants private equity in 401(k)s. Voters approve.​

Trump wants private equity in 401(k)s. Voters approve.

The introduction of private investments in 401(k) plans is a much-debated initiative of the Trump Administration. But voters seem to like the idea.

www.usatoday.com

https://www.bloomberg.com/news/features/2026-02-18/how-private-equity-is-targeting-your-401-k-plan

Can you break this down further like I'm a 5th grader

 

[JT-Money]

Can you break this down further like I'm a 5th grader

Just Wall Street trying to dump some high fee toxic assets into people's 401Ks. Because they have trouble finding someone to buy this crap.

There is a whole shadowing banking system lending money to God knows who with zero oversight or regulation. They want to get rid of this crap badly before it implodes. Neither the Government nor Corporations will rest until they bleed everyone they can dry.