>He fell for the 401k scam

>100% ROI

how is this a scam?

>>960471
This. It's literally free money.

>side note: some of these captchas make me hungry

>>960471
>>960474
>only withdraw-able when reptilepeople will have already taken over earth

l m a o

>>960476
but 100% roi is probably more than you'll ever make investing the same amount of money by yourself

if you're working when you're like 15 and you somehow have a 401k and know how to play at stocks, then sure it'll probably be smarter to take a bit of risk and invest

but almost in every case, maxing a 401k reaps you a fuckton when you turn into a useless piece of shit and ready to live off neetbux

>>960471
>>960474
My company only matches at the end of the year, and only after you've been there for a full year. Fucking 20 months and still no match.

>>960482
leave your company then you kek

>>960482
Sounds like a scam to me. Check with HR.

>>960495
Nah it's legit, and this company employs over 250,000 people. I can't tell you who they are, but I can tell you they've been getting really fucked this year and they're not the M.I.B.

>>960499
Okay I switched to a proxy, it's volkswagen. I almost quit lmao, maybe I'll leave one day, but I just love spitting in my supervisor's coffee so much.

>>960504
You're good people.

Literally the highest ROI of any investment vehicle as long as there is a match and the company let's you pick.

401k in only company stock is straight out kcuc tier though

I don't see any reason to invest in a 401k if you aren't getting matched funds. Am I missing something obvious?

You pay taxes on the money either way.

>>960542
>You pay taxes on the money either way.
Sure, but 401k accounts have more tax advantages than a taxable brokerage account.

>>960543
Well my business already has tax advantages that put me down below the poverty line federally so I don't really give a fuck about having even more tax advantages.

To me, a 401k is just money I can't properly invest till I'm a waspy old shit.

Guys my company has 401k but no match. They do have a pension though based on years of service. Is 401k a waste of my money or no? I'll be making around 90k in 2 years.

>>960542
>You pay taxes on the money either way.
It's incredibly easy to NEVER pay taxes on the gains in your 401k.

>>960570
How?? I thought it's guaranteed to be taxed when you withdraw.

>>960562
What fucking company still has a pension that pays 90k

>>960787

There isn't a work around outside of killing yourself or charitable distributions.

>>960562
He didn't say the pension was 90k m8 cmon

>>960797
>"There isn't a work around"
>lists two workarounds

>>960562

401k contributions lower your taxable income, which in the US means you aren't paying taxes on the most heavily taxed money. That being said, it would make more sense to make IRA contributions, then 401k, because both work the same, but you generally have more investment options with an IRA. IRA contributions are capped at 5500/year though.

>>960798
I meant pension at all and still has decent jobs.

>>960800

>Posts vague shit
>Doesn't comprehend English
>Still shitposts

You do realize that your autismbux pretty much prevents you from having a 401(k).

>>960542
>I don't see any reason to invest in a 401k if you aren't getting matched funds. Am I missing something obvious?
It is similar. The only thing that makes a difference are contribution limits (401k you can put in something like 17,000 or so in per year and IRA/Roth you set up on your own, you can only put in 5,500 or so) and income limitations (if you make too much money, you can't always put into the retirement vehicles you want).

>I'm not looking up the contribution or income limits, so look that up yourself for accuracy.

> hoarding all your money until you're too old and senile to enjoy it.

Seriously, the retirement age is going to be like 80 in 20 years and you could have spent your money living your youth to the fullest.

401k is a stupid meme for stupid people.

>>960504
Who would have guessed that a company who evades environmental testing would also be completely shitty to their employees. Sounds like a rotten organization from the top down.

>>960810
>triggered
Son, you're not gonna make it on 4chan with skin that thin. Maybe reddit is more your speed?

>>960800
>>960823
>shitposts with the ferocity of a million Australians
>le go back to reddit meme

If anyone doesn't belong on this board, it's you.

>>960828
Shitpost? I said its very easy to avoid paying taxes on gains in a 401k. It is -- in fact -- very easy to avoid paying taxes on gains in a 401k. Some fag says "you can't do it" but then lists two ways to do it. I comment "your post is contradictory." He gets triggered. You get jihadi.

That brings us to now, kid. Any more insights for the board?

>>960469
>Company matches x%.
>Can take it out when you are in a lower tax bracket.

Are you stupid or are you just trolling? Going to give you the benefit of the doubt and just say you're trolling.

>>960832
>kid

He's grasping now.
You have contributed nothing to this thread except being needlessly contrarian. I'd wager you know absolutely nothing about business or any facet of personal finance and just browse /biz/ looking for those to troll.

You should instead contribute these super top secret ways to avoid paying taxes and try to prevent devolving into hyperbole and namecalling

>>960836
>You should instead contribute these super top secret ways to avoid paying taxes
Hey retard ... they were already posted. I'm sorry that your grasp of English (and tax law) is so poor that you missed it, but perhaps you should just slow the fuck down. Your mouth is working faster than your brain, and that just makes you an asshole.

>>960850
Lol. Feel free to post them for me any time you want, once again, outside of the hyperbole.

I love the damage control btw.

>>960854
>>960797
Jesus man, now I feel bad. I've been insulting an actual retarded person.

Good for you to try overcoming the obstacles in your life. Good luck kid.

>>960858
More ad hominem because you have no actual knowledge. This is an embarrassing thread for you. I'd just hide it tbqhwy. Kinda got btfo.

>>960862
You still don't know the answers, do you? Even though I linked you to the post. This is sad. I'm getting embarrassed for you.

Slow down, junior. Read the words. Look up anything you don't understand. There's no timer here. It'll come to you (I hope) eventually.

>>960865
Your entire argument is based on ACTSHUALLY. If you'd read my posts, I said outside of hyperbole there is no way. Giving away all of your money or killing yourself is not what anyone wanting to use funds they saved without taxation would consider an option and you know it. You're being contrarian just for the sake of it and contributing nothing of any real value to the conversation.

Once again, btfo.

>>960870
Slow down spazz. Your jimmies are so rustled that you're just mashing keys now.

Yes, making a charitable donation of securities from your 401k is a valid and common way to avoid taxable gains. Indeed, since the tax deduction is based on the appreciated value of the securities, its incredibly smart as well.

Yes, passing your 401k to your heirs is a valid and common way to avoid taxable gains. Your heirs inherit at a stepped-up basis, and neither they nor your estate ever have to pay capital gains tax.

I'm sorry that your financial intellect is too small to grasp the significance or import of these rules. I'm sorry that you don't consider charitable donations to be a valid use of someone's money. I'm sorry that you don't have anyone in your life to carry your legacy forward. It's really sad, and I wish you all the luck in the world in turning your life around.

>>960870
>>960895
SEPP

>>960823

>triggered

Not really. Anyways, what I'm saying is there is a difference between:
>There isn't a work around outside of killing yourself or charitable distributions.
>There isn't a work around. You can kill yourself or make a charitable distribution.

One is a complete statement, the other is two. Your original post was too vague in the sense that it could easily be confused by the 19 yr olds that browse this board, who would assume there is some magical tax-free way to withdraw from a 401k and use it for whatever.

>>960902

Not penalized, still taxed.

>>960907
SEPP

>>960902
>SEPP
This is the correct answer to the morons who say that a 401k locks up your money until you're old and decrepit. Not only is it incredibly shortsighted (since the average lifespan in civilized countries is over 80) but its also wrong.

But a SEPP doesn't help with taxes.

>>960907
I'm terribly sorry that I didn't spoon-feed the knowledge in ELI5 fashion and instead posed a provocative hypothetical to spur independent thinking and research.

Next time I'll post the information in the form of a frog meme so people like you can understand it.

>>960910
Not if you are at 0% tax bracket

>>960915

You got me there.


>>960912
I did understand it. I also understood how it could be misleading. That's why I posted >>960797

>>960912
>>960907
Why is tax even an issue. If you put it in a bank or taxable account you pay income tax at a higher bracket and pay capital gains. These are even less tax efficient.

>>960924

I deal with a lot of pensioners/business owners who already have a solid income stream in retirement. Then RMDs kick in and rather than pay a shitload in taxes on their distributions, charitable distributions tend to be a good work around.

>>960790
UPS driver m8. Blue collar. It's aight.