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How privacy conscious are you?
Okay I’m 28 and have 100k+ in a 401k by maxing out every year and I’m just thinking this is stupid. Why not bet on myself instead? Just put in up to the employer match, take the rest and buy rental properties instead. Save a couple grand for each for maintenance / repairs and rent them out. In 30 years you’ll have paid off rental properties giving you money instead of pulling money out of a 401k that isn’t guaranteed to have any returns + will be taxed when you sell.
You make too much money😆
If you're in a high tax state it might make sense to contribute anyways.
On top of other comment, rent seeking is pretty scummy
Your CEO making millions while paying you less than $800,000 is scummy too. Just the way the world works. Gotta look out for you and yours.
No it's not.
Rental real estate gains are taxable, too.
You can deduct Depreciation and mortgage interest and property taxes, so only a small portion is taxed
Not if you 1031
Because with average rate of return and compound interest it'll make you much more. Also max contribution is $20k which is $1600/month. What rental property are you buying with that with today's rates?
Also less concentrated risk
I contribute $66k to my 401k and then use that money to buy exceptional real estate deals when they pull up. You are extremely uneducated on both subjects
at some point , around the 10th year you are working , max pre/roth 401k contribution becomes chump change , so might as well do it
^ If I can maintain my current income (TC $290 or something, next year?), I'll be putting ~$80k into investments and ~$27k into retirement accounts (my 401k and my wife's IRA) Getting: 40% return from skipping my top income tax rate and 40% return on employer match (I have no idea: 4% of salary in match?) makes ignoring that 401k portion *difficult*
But in a decade when I've got $2m in investments (at the current rate, assuming no comp growth) I'll feel pretty cool regardless.
Fidelity allows you to invest 401k in anything. I've even done options in brokeragelink.
is that company dependent? mine only has select mutual funds
Yes.
The current financial system is designed to dump all the money into stocks Everyone’s 401k has to go into stock market That’s how Illuminati designed it Period
Lol stocks over the past 50-70 years have been the best wealth generating asset class for the average worker, but sure it's because the illuminati wants it
Oh you sweet summer child
1. THB the 401K is a scam. You invest in items held by the firm that hosts the 401K. You line their pockets with fees. 2. The 401K reduces your taxable income. It’s best to put money into it over 12 months to get the max match. 3. Most 401K don’t invest in dividends stocks and equities. They invest in junk funds that jump or die with the market. That’s why you need to personally setup your own ROTH or BROKE and invest in shit that gives you money for doing nothing. Dividends are what is going to keep you from working when you are 65. I learned that lesson the hard way. I am investing in nothing but dividends and a small amount jump or die equities. I like money always coming in every month or every quarter. As of right now I buy 1 share of a specific Dividend equity every day. Every month, I get a nice check.
My 401k lets me invest in total stock market funds. Maybe your 401k is a scam