How do you react to people older than 30 not having any ira's or 401k?

How do you react to people older than 30 not having any ira's or 401k?
It legitimately makes me want to die that this is such a common thing.

Let them spend and consume. These people fuel my VOO shares.

>Be me, 22
>Have 401k
>[spoiler]It's less than a grand still[/spoiler]
I haven't even begun working a career job yet.

Just wait until your career pops off.
People who don't take advantage of an employer match are retards. Max that shit out.

I don't really care about saving for retirement. I'm just going to get a shotgun and kill myself if I can't afford to live anymore.

I got a Roth IRA asap, not maximizing my contributions but do keep feeding it.

Put the lions share into my matched 401k through work. Free fucking money.

I fall into the 10 - 45k range @ 30 y/o

>free fucking money
Exactly. You're literally being paid to save your money. I worked with a woman who said she doesn't need one because she's going to inherit her aunt's bookstore.

401k is a fucking scam. It's literally the idiots' investment bag. With the amount of money you put into it every month you'd get more putting it somewhere else in the long run.

Do any non-americans have this 401k thing?

I had one at my first job but didn't set it up at my new one. What should I be doing with the money I would otherwise put into my 401k?

Yeah not really. Its a free percentage match on your salary. I've seen as low as 3% and as high as 8%. Thats a guaranteed return. Where else do you get a guaranteed return outside of treasuries?

If you're not a retard you'll put it all into ETF's and index funds instead of mutuals and eliminate most of the fees.

Company matching, however, is not a scam. Guarenteed 50% returns up to a certain point. I do exactly that much.

Non-Americans have private insurance firms doing the same thing I think, but "401k" refers to our US tax code, so it wouldn't be called that elsewhere.

mostly this, at 60yo I am going to buy a gun an end myself, my pops would be dead at that time

It's better for you if they remain uninformed. Stop being a moralfag.

social security and Medicaid take care of you if you live that long

>What is a company match?
>What is tax advantages
Do you just hate free money?

IRA/401k's are a scam. Invest in real estate, not some government pyramid scheme.

My retirement fund is in Bitcoin only.

nothing is free or guaranteed son

I'm from the UK and don't know anyone that does anything like this, I figured it was some US thing.

How about you worry about your own finances op, you fucking faggot?

I'm surprised you didn't use the word "literally" in your post

You sound like the life of the party and a blast to be around

> Put 6% into my 401k
> Company matches 6%
> Consistent 8% growth
How is this a scam? I sincerely do not understand. I'm getting my money doubled + 8% compounding interest without it getting taxed first.

I'm literally not noticing the 6% cut at all either, and it'll be 2.6 million in 42 years when I'm 65 - if I get no pay increase.

>i'm a fucking idiot: don't listen to me

If you're company offers a match and a reasonable vesting period then you're a fool not to take advantage of that and the tax benefits.

Don't come to a finance board and say shit if you don't know what the fuck you are talking about you fucking moron.

Well first off, relax. Second, you only need retirement so you can enjoy a reasonable secure lifestyle. But if you move to Idaho where life is cheap, you should be alright. Just saying

it's not

Nah. I'll just put all of my money into trying to get rich. Stock markets, cryptos, entrepreneurial pursuits. If I fail why would I even want to be old anyways? Being old is boring

Dude are you trying to sell 401Ks or what?

When your employer limits what you can invest in and/or hires shit money managers, you can easily lose more than you gained through the match.

Me, I've been paying into a pension plan, but I'm sure Wall Street and jealous losers will find a way to steal it before I can collect...

the quality of a 401k is important, yes
but you shouldn't treat it as a retirement account at all
no reason to hold securities anywhere else before you max it out

This

Let the poorfags be poor

Make bank selling shit they are addicted to (beer, tobacco, fast food, prescription drugs)

Be the Merchant

No "Dude" I'm saying if you don't know what you are talking about then shut the fuck up.

Obviously one needs to do research on the fees, but assuming nothing cataclysmic happens you can't beat a match. If it is a bad fund just meet your match and put your money elsewhere. When you leave the the job you can take it with you and roll it over to the next employer or your own fund.

>Me, I've been paying into a pension plan, but I'm sure Wall Street and jealous losers will find a way to steal it before I can collect...

Pensions are going the way of the past, yea they are great but you better hope the state (I'm assuming it's a state plan) for whatever reason doesn't reign in on their promises and slash your benefits. You can't even take the pension with you if you leave, meanwhile as long as I'm vested all my 401k money is mine no matter what, I get tax benefits, and lots of places let you pick your funds.

Look you don't know shit so just keep quiet ok?

>28% tax bracket
>5.5% state bracket
>retire in tax free state
>withdrawal money will likely have 17% effective rate
>9.9% increase from tax savings alone (99% guaranteed)
>using money otherwise taxed to make even more money

Despite the meager fees and the limited options, even if the 401k doesn't grow and there's no match, it's very lucrative.

You're retarded and need to get off this board.

You literally have 0 control over your plan yet you trash on the limited options of the 401k? 99% of investment choices are bullshit anyway so there's no need for a wide array of choices. You sound like a commie. Shoo, we don't need commies here.

Do none of you losers hit the yearly max? Fuck if I'm paying taxes on 18k if I don't have to.

I max ROTH and 401k every year. Makes spending what's left more enjoyable knowing I'll have a nest egg.

People are fucking retarded. My gf's mother has no savings, she mooches off of my gf and her sons who are in college to pay bills, and she makes 80k a fucking year. Like jesus christ that isn't wealthy by any means, but how the fuck can you not pay your own bills on that.

Looking like significant odds I'll end up having to support her ass. I've already made it clear to my gf to talk to her mom about savings. If I end up having to support her there will be no getting nails done, no going out to eat beyond family meals, and no expensive end of life care. Fuck that shit.

I having savings, but they are shit desu. Banking on education.

>falling for the 401k meme

I rather invest myself than get baby gains

There are multiple reasons for this that aren't the person's fault.

Be me, 26, get good paying job with 401k match. Put money in, have around $8000 in the after just over a year. Company sends my job to Mexico. Economy crashes. Stuck on unemployment but get free ride to school due to layoff. After 1 year still can't find job. Unemployment runs out. Need food. Can't get food stamps if you are a college student. Had to cash in 401k as hardship. Finish college. Get new job, work for 2 years, have small 401k , get laid off again. 401k is under the limit so it's auto cashed out. Back on unemployment.

Finally around 30yr old. Can't find job with 401k but pay is decent. Not enough to save but a small amount per year. Another big layoff 7 years later. Lose everything. Finally at 40 have job, 60k per year. have $10,000 in 401k, learn penny stocks, make money on it 70% a year. Game Dev on the side, about to publish.

Finally, at fucking 40, I have something.

Trump elected president.
Will probably lose it all again.

UK ISAs are better than the American equivalent

In belgium we have something similiar, called pension-saving account/insurance

We can contribute up to 960€/year and have a taxreduction for 30% of that amount

If you actually have the balls to commit to this then this is a viable strategy. I have nothing against those who want to play a short term riskier strategy, as long as they dont suddenly turn around at 45 and cry about it. I say go all in if youre gonna pull this sort of move. It's sort of like an r vs K reproductive strategy.

What pisses me off is people like my parents who earn about 90k merckel dollars per year yet still live in gubermint housing and cry every week about having no money despite charging me above market value rent , subletting a practically free property,with essentially no costs as I'm never even in the house except to sleep and I dont even have electricity or heating in my room

Stop whining and move out?

Aussies have superannuation.
We get 100% matched voluntary contributions to a sweet limit each year.

Catch is cant access it until 65

Buy gold. It always increases in price

I guess you missed the part where the payout isn't subject to market ups and downs. Just the jealousy of people without a pension of their own. Also I have a stock trading account to hedge my bets because of that kind. 401K are for faggots who couldn't get a job with a pension and want the Jew to invest for them.

Whatever you say, money manager, I'll pretend I can't see through your sales pitch so you can steal some more money from Americans who worked to earn it.

Agreed. I actually took my 401k, paid the penalty tax, invested it in ETH and have quadrupled my money.

Not even memeing. The company matching is nice though, I guess.

No, seriously, did either of you children have a 401K in 2001 or 2008?

Is there any data for Americans age 50 and up who have saved less than 100k? Without an age qualifier that statistic is a bit meaningless.

>Implying a 100% ROI on on contributions up to the employers match cap aren't a good investment

The Jews love 401Ks. You take all of the risk and have zero control.

(((They))) don't have to offer a real retirement plan.
(((They))) often only do a 1:2 or 1:3 "match" up to maybe 3%.
(((They))) can change their contribution rate at any time.
(((They))) control the managing bank.
(((They))) control the options offered.
(((They))) control the buy/sell decisions.
(((They))) get paid regardless of performance (wiping out the match).
(((They))) don't have to compensate you for losses.
(((They))) make it a bitch to move your money and whack you on the way out.
(((They))) forcibly withhold your money from you under a 10% penalty.
(((They))) control your retirement date by manipulating highs and lows.

So you basically just pray to turn 60 at a market peak unless you want to retire poor. Wow, what an awesome deal, where do I sign up Mr Milkenstein?

I'll take "management fees" for $100, Alex...

youre arguing with 20 year old cryptoshills

>cant hold a job
>not your fault

toplol

401k is great if the employer does a match. At my company they match like 80% of 6% so you get 80% profit as soon as you put money in. Then small gains until you retire.

Pension is free for us based on years of service and age.

this.

>not working self employed completely under the table and investing crypto then fucking off to retire in dominican republic or vietnam with $2 million worth of bitcoins.

WHY THE FUCK WOULD I TRUST MY RETIREMENT TO A STOCK MARKET THAT I TRUST LESS THAN THE AURISTIC COCKSUCKERS THAT RUN IT..?.?????

no thanks bro.

Keeo you 2% return cucked shillstocks to yourself

I got oil to drill for, houses to biy, and businesses to run.

Enjoy the next great recession retard

Right... (muh 4%) and then oay taxes on it.

Wewlad.

How about i keep that 4% of my money and invest it 100 times more safely and efficiently...

Fistbump

Hahaha!

Common sense on my dredal spinning board? What the fuck are i doing here?

True story

IRAs and 401Ks are for lifelong wageslaves.

I'm a Veeky Forumsnessman so I'd rather put my money in my business, education, and crypocurrencies instead.

>tfw net worth went from 20K to 80K in 2016 alone

Wouldn't be easier to just buy eth instead of coping all day long reposting this same image over and over again?