Should I max my 401K contributions?

[R.E.N. Spells Ren]

It's taxed when you pull it out plus you have to pay a penalty should you want YOUR money before you're 70 or whatever.


I plan on owning stocks, bonds, commodities, and rental property.

So it's only "double taxed" if you don't follow the rules which you know beforehand...it's a RETIREMENT account.

 

[The Nigerian]

So it's only "double taxed" if you don't follow the rules which you know beforehand...it's a RETIREMENT account.

It's a sucker's investment.

"Hey, give me your money and I'll make you "rich!" (When you're 65)"

I'm Nigerian, I know a scam when I hear one.

got 18K in mine. Wished I would have started earlier. I give 4% and my company matches up to 4%. Since I work OT I put all that extra money into a savings account. Trying to do whatever I can not to touch neither.

You could be investing that money into assets that yield monthly income. Instead, it's sitting in two financial instruments that cause it to LOSE VALUE the longer it sits in there. I plan on buying storage units to get started.

 

[THASTUNNA]

It's a sucker's investment.

"Hey, give me your money and I'll make you "rich!" (When you're 65)"

I'm Nigerian, I know a scam when I hear one.



You could be investing that money into assets that yield monthly income. Instead, it's sitting in two financial instruments that cause it to LOSE VALUE the longer it sits in there. I plan on buying storage units to get started.

I know soon I'm going to remodel my kitchen and living room. So that savings will get touched.

 

[R.E.N. Spells Ren]

It's a sucker's investment.

"Hey, give me your money and I'll make you "rich!" (When you're 65)"

I'm Nigerian, I know a scam when I hear one.

Dude, you're like ten posts in and STILL have not stated why it's a scam.


Yes, you can't touch until you reach a certain age (and I've already explained why in this thread). Obviously, you shouldn't put money in here that you'll need to live day to day, it's a long term investment vehicle.

All you posted is irrelevant videos and lies ("double tax)

 

[-G$-]

401k is the biggest scam ever. You dummies. You better read up.

It's not tax free-it's tax deferred.

So you 100k is really like 65k.

There's a reason you have to wait til you're 62 to get "your" money? It's a big gamble and they want to keep you in the casino. The only difference is, they have the dice but are using your money. People have no clue what these crooks are doing with your money then, and especially now. Gambling on the housing market. Remember when the housing market crash, everyone's 401k was damn near cut in half.
And read up on all of the hidden fees the take out. Up to 1/3 of your contributions over a 30 year period.

actually i make all of my own investment elections for my portfilio and i had a personal rate of return of 9.5% last year

tell me more though

 

[The Nigerian]

actually i make all of my own investment elections for my portfilio and i had a personal rate of return of 9.5% last year

tell me more though

401ks are for clueless SUCKERS.

I know soon I'm going to remodel my kitchen and living room. So that savings will get touched.

Now imagine something should happen while you remodel your living room, like you get sick or you lose your job.

Suddenly, you're in need of cash. Where's that money going to come from? Thin air? No. It's going to come from that sh!tty 401k.

 

[-G$-]

401ks are for clueless SUCKERS.

i guess i'm clueless then, my 401k looks pretty nice right about now

Now imagine something should happen while you remodel your living room, like you get sick or you lose your job.

Suddenly, you're in need of cash. Where's that money going to come from? Thin air? No. It's going to come from that sh!tty 401k.

actually it would come from one of my other investment accounts or a savings accounts. who told you to put all your eggs in one basket?

 

[R.E.N. Spells Ren]

i guess i'm clueless then, my 401k looks pretty nice right about now




actually it would come from one of my other investment accounts or a savings accounts. who told you to put all your eggs in one basket?

Exactly....long term financial vehicles have their place, just like short term vehicles do.

 

[THASTUNNA]

401ks are for clueless SUCKERS.


Now imagine something should happen while you remodel your living room, like you get sick or you lose your job.

Suddenly, you're in need of cash. Where's that money going to come from? Thin air? No. It's going to come from that sh!tty 401k.

unemployment!!! plus I have month of vacation so if I get sick I'm good!!

 

[The Nigerian]

 

[Rawtid]

401ks are for clueless SUCKERS.


Now imagine something should happen while you remodel your living room, like you get sick or you lose your job.

Suddenly, you're in need of cash. Where's that money going to come from? Thin air? No. It's going to come from that sh!tty 401k.

As R.E.N said, the 401K is a retirement plan. Home improvement money needs to be in a separate (non-retirement) account.

 

[Rawtid]

unemployment!!! plus I have month of vacation so if I get sick I'm good!!

God forbid you get sick for 2 months and LOL at living on unemployment. Shut up.

 

[THASTUNNA]

God forbid you get sick for 2 months and LOL at living on unemployment. Shut up.

It was a joke. I ain't trying to live off that shyt.

 

[The Nigerian]

i guess i'm clueless then, my 401k looks pretty nice right about now

I'm sure a lot of people said the same thing in 2006, then 2007/8 happened.

Me, I'm not trying to live like the average idiot that's waiting to be swindled out of their cash. That might be good for some, but definitely not me.

 

[-G$-]

I'm sure a lot of people said the same thing in 2006, then 2007/8 happened.

Me, I'm not trying to live like the average idiot that's waiting to be swindled out of their cash. That might be good for some, but definitely not me.

explain the "swindling" when you make your own investment elections.

ps- my 401k went thru the downturn of 2007/2008 and still looks pretty.