20 sats \ 1 reply \ @BlokchainB 24 Apr 2023 \ on: 401K .vs. Fiat .vs. Bitcoin mix discussion bitcoin
My pushback on the 401k is:
- It uses pre tax dollars.
- They are a pain to liquidate.
- Wall Street pushes this product due to the rent seeking fees they get for just moving money around
Taxes are at an all time low. It’s only a matter of time before they go up.
Plus most 401k investors passively invest thus increasing the rent seeking that plagues society today. and prop up companies that don’t share your world view or values
I would say if you can use post tax dollars on everything possible. Roth IRA and/or Roth 401k if you qualify.
Next be ready for anything. If you woke up tomorrow and somehow your 401k balance got deleted how would you feel?
Lastly, I believe in humanity and companies thus I will always support the purchase of stocks but don’t be fooled by this 401k shell game you can do the same with a basic Robinhood account and search what ever index stocks you want to own then chill.
->"They are a pain to liquidate"
->"prop up companies that don’t share your world view or values"
->"somehow your 401k balance got deleted"
You have brought up some of the reasons I want to have the discussion. Thank you.
reply