He's over 25 and still hasn't started his 401k

the point isn't to save for retirement it's to shelter your money from taxes

I don't exactly have tons of money.
Plus it doesn't help that I have credit card bills, utilitiy bills, 529 plan to manage, a baby discount broker aka robinhood to deal with.

Maybe when I have a better yearly income, Ill start one.

>he wants to live until he's an old, gross, useless piece of shit man

>Chances are over 90% that any profit/interest you make is one that you'll never get to use
#fakenews

>he wants to live to 55
you must be 18 to post here

>putting money into grandpa tier garbage instead of in bitcoin
nothing shoud be put into grandpa

I don't intend to start saving for retirement until at least 35-40. I should, hopefully, be earning more, am more adamant about retirement and can invest larger amounts.
I am interested in buying stocks as soon as possible though, even though it seems useless to start with anything under 50k.

>I don't intend to start saving for retirement until at least 35-40.
Great planning, dummy. That way you'll have to put in 3 times as much just to catch up.

You wouldn't want to be an old man eating cat food.

DING DING DING

Keep being buttmad about your impoverished retirement neets while my employer matches my 401k contirbutions

just a sales pitch from "the man", nothing to see here

Can't put a price on the enjoyment someones gets out of spending that money while they are still young.

>Can't put a price on the enjoyment someones gets out of spending that money while they are still young.
Actually you can. Just ask the thousands of older folks who don't get a chance to retire, and have to work until the day they die. Wonder if they regret their YOLO youth? Naw, I'm sure that new Xbox makes up for 40 years of a shitty, boring, dreary life.

None of the old people I know that can't retire had a "YOLO" youth. Yet all the people that I know who are on their way to a decent retirement all spent a few years travelling and not putting money into a retirement account. You think 5 years of missing out on your 401k is the cause of people who are in their 60s and cant retire? Absolutely not. If you start saving for retirement in your thirties you will have enough to retire with as long as you are being responsible with your finances in all areas of your life.

oh this is good

what exactly am I supposed to spend money on to enjoy my youth?

please tell me about the meme called ~travel~ and how hitting up all the tourist traps on the planet will make me a better person

EH? I never said you were required to go and travel. Some people find enjoyment in that, and for THOSE people it is a priceless experience that they can't necessarily experience the same way later on in life. Please tell me more about this meme that you have to start saving for your 401k the moment you graduate from college or else you will retire poor.

>You think 5 years of missing out on your 401k is the cause of people who are in their 60s and cant retire?
Cause? No. Contributor? Yes.

Let's face it: if you're too dumb and undisciplined to practice sound financial strategies when you're 25, what makes you think you're going to magically wise up when you're 45?

But hey, I'm sure you're a special snowflake and an exception to the rule.

> What is compound interest

I'm 24 years old with just under half a million in my portfolio and I have been travelling asia since I was 22. So I guess I am an exception to the rule. However, as I said, no one I know that can't retire is because of them not contributing to their 401k. It's all because they lived outside their means for 20-30 years, paying over half their paycheck on rent, trying to keep up with the joneses

No you're not, moron. Your roleplaying aside, if that were true then you'd essentially be following a conventional retirement savings plan.

And I highly doubt a 24 year old knows a lot of retirees.

Why would you attention-whore on a chinese cartoon website?

So you have the money but just choose to throw it away by giving it to the government? Totally true story bro.

Has to be some sort of mental illness NEETs develop to rationalize their Tendy addiction

Lel people saying btc has better roi

Employer matched 401k is literally 100% roi guaranteed and it's pretax

Not to mention employer-match is free fucking money

i don't get why people don't just learn the market and rotate their own portfolio every 3-6 months. It's 2016 there is a wealth of information at everyones finger tips but yet they are too lazy to learn shit on their own.

Im an investor that likes to be more liquid, why would i put my money into something that will penalize me for taking money out early? i want to be able to seize a good investment opportunity when i see it. not jump through hoops and ask permission for my money.

>employer match?
fuck that i rather not put any money into it, i would rather get as much cash from my paycheck and invest it on my own and roll that money over every couple months.

Because unless you're some math PhD from Harvard with a supercomputer and tons of insider information you cannot beat the market.

Question for Canadian fags

I have to DB pension plan that matches 9% of my salary, do I still need an RRSP or is that sufficient enough? I'm able to retire with a full pension by 55

Because I can reduce all of that risk by not gambling.

And yet again, retirement accounts aren't just for 'muh never gonna touch it' money, it's because it's money that does not ever get taxed from deposit to future withdrawal while growing.

Long-term investments are important too shitlord

This, and the fact that there is literally no better economic deal in any Western economy than tax-free savings and accumulation.

The only people who don't get this are college kids who've never held down a real job and filed their own taxes.

>you cannot beat the market
with that attitude you should probably stick to that pleb tier 401k.
You obviously don't know anything about investing or business for that matter. There are plenty of people out there that DO beat the market. There are also other investment vehicles besides common stock

You can't wait till you are old and retired to enjoy your money or you can go ahead and kys now and get it over with. meanwhile i will be taking vacations left and right, having cash to spend and enjoying my youth. But hey, if you want to just do the turtle type investing, thats cool, i understand people like you can't learn anything besides your basic day to day job.

>Getting free money from employer
>pleb-tier

pick one faggot

There are plenty of people who also win the lottery. Time to go buy some tickets!

...

>pension plan
A pension plan is just a contract. If the company runs into financial trouble, it can and will modify or terminate that contractual obligation.

I'm not saying its bad to have a pension. It's a nice perk and used to be the way our grandparent's planned for their retirement. Then entire industries got into trouble (steel, airlines, auto manufacturers) not to mention the public employees with underfunded plans (teachers, firefighters, police). That's why most private businesses have moved to a 401k (RRSP in Canada) model where employees are in charge of their own accounts.

I hope it works out for you, but if it were me, I'd start working on Plan B and Plan C.

>Long-term investments are important too shitlord
Yeah, thats why i have real estate.
Do you just assume that the only way to invest is in the stock market?

This 401k bullshit is so funny its just a way for wageslaves to feel like they are doing the right thing for their future while there are accredited investors and traders out there making bank and don't even have a 401k

>t. I live a shitty life now and I'm going to live a shitty life later too.

>You can't wait till you are old and retired to enjoy your money or you can go ahead and kys now and get it over with.
Careful there, YOLOmaster. With an edge like that you might cut your fedora.

Are you fucking dim? A company 401k plan is usually matched for the full amount deposited, that's free money that you grow alongside your short-term investments on your employer's dime

How can you be this fucking stupid as a role-player?

Real estate has historically underperformed the market and suffer from even worse liquidity. It can be a good source of income provided that you put in the time to manage it yourself, but at that point it becomes a full time job, and is not comparable to passively holding mutual funds.

Im an accredited investor i don't have an employer.

Keep slaving away normie.

Or you could just not be lazy and learn how to invest properly and have better returns than the lottery. kys

>I'm an accredited roleplayer

I know we get it friend,

Oh yes tell me more about the amazing returns you got from your $30 Robin Hood account.

Says his investments
>have better returns than the lottery
and then claims:
>Im an accredited investor

No, kid. An accredited investor would know the difference between a "return" and a "risk-adjusted rate of return." No investment that you've ever heard of in your life has a better return than the lottery. The problem with the lottery is the risk-adjusted expected returns.

Fucking pleb.

like i said in this postI don't have an employer. but hey, if you like to work for someone else your whole life and then wait till your old (if you even make it that long) then sure a 401k is good for you. the world needs wageslaves.

I live a great life buddy i enjoy every bit of it that i can. enjoy your christmas, your employer wants you well rested to start slaving away when you get back to work.

>not knowing what equity loans are

Real estate is a good thing to have in your portfolio of investments. it provides me with income. I do manage my properties but thats ok with me, it's really not that hard, maybe about an hour every month. My tenants all direct deposit.

just stay pleb buddy and keep putting into that 401k, we need people like you to slave away for us.

ha

If you want to depend on luck then sure play the lottery. Maybe you can get a couple scratchers to scratch when your employer gives you an hour lunch.
I rather know im going to make money.
You may aswell just kys now buddy or else you will be hoping and dreaming of a better life while you slave away under some ass hole your whole life.

...

>working for someone until you are old and frail.
Have fun with that.

Didn't know this was a wageslave board.

the moment you graduate, you're likely going to be a single white male who can only claim the standard deduction

this means you will absolutely get fucked in the ass on taxes
there is absolutely no reason not to contribute up to at least employer match

if you can't afford your dumb life changing priceless experiences after that i don't know what to tell you

Gee I didn't know FUCKING WHITE MALES had a different tax bracket than everyone else.

How does 401k work for you seppos?

Is it govt run? Govt mandated? Big banks run it?

In Australia we have either retail and industry superannuation funds that invest on your behalf. You can only access after you turn 60-65. Contributions include govt mandated employer, tax deductible individual and non-deductible individual contributions.

You can also set up a self managed fund where you choose what you want to invest in

yes, they do, they're in the "nonzero" bracket with most asians

>Guy posts legit reasons why you are a cuck wage normie.

Reply with a sjw tier meme to act like your too cool to respond