I was given a 401K by my company and recently decided to check it out. The financial markets must be desperate to take peoples' money because the values they were giving me were outright insane. The company decided to match half for every dollar up to 8%. So for 8% you put in, they give you 4% for a total of 12. That wasn't the bad part. The 401K company had a very hidden "opt out" setting to increase your contribution rate to 15%, 1% a year on top of downright scaring you with bold font and red letters to increase your contribution rate to 13% or more. They even had a goy chart to show you what everyone else was doing which i thought was cute. No way could that chart be altered or fabricated in any way, right? The most insane part is that doing this was to cover only 80% of your salary for retirement ....
The 4% match is literally free money. You have to take it. It’s port of your total compensation package. Don’t leave free money on the table.
You can “borrow” up to 50% of your 401k for many reasons and you end up paying yourself back with interest, so the money is available.
If you reeeeaaaallly need it you withdraw what you need, up to 100%, counts as income with an additional 10% penalty.
This is tax free money to begin with so depending on how you do things you can end up keeping more money after the penalty than if you’d just not saved it in a 401k and kept it as after tax income.
Contributions also reduce your income so you pay less income taxes today as a result of saving.
A decent strategy to do if you win the lottery or make a shit ton of money gambling in the stock market is to live off your winnings and save all of your salary. Thus you avoid the income tax on your winnings.
Also there’s like a huge list of things you can withdraw for and not pay taxes.
It’s actually a good deal and you should definitely do it.
Cmon people. How can you fight the jew if you don’t know basic finances?
I get profit sharing where I work. I requested this get deposited directly into my bank account. My accounting dept. stated that is not possible and profit sharing is required to go into my 401k. Where I have to either wait until I retire or take a penalty tax for "early withdrawal" this whole system is fucked. Just so some fucks on wall street get to use my money to profit off of for the next 30 years while I work paycheck to paycheck.
Correct, all the vehicles to "save" money are just massive grift to a bunch of filthy kikes. Premature withdrawal fees are codeword for jews get to leave early and cash out, whilst you're left holding the bag. On top of this, jews can steal whatever you have, devalue it and steal as much equity as possible, and FORCE you to pay taxes on the loss. These fucks wont stop until you're broke and dead and they've stolen everything you have. Also, notice how austerity means you live with less, whilst they get to steal even more.
Total 401 (k) plan contributions by an employee and an employer cannot exceed $66,000 in 2023.
Even if the company had a really insanely good year, and wanted to profit share beyond a certain amount, they are legally not allowed to.
[ + ] Unreasonable
[ - ] Unreasonable 0 points 8 monthsSep 25, 2023 15:50:06 ago (+0/-0)
You can “borrow” up to 50% of your 401k for many reasons and you end up paying yourself back with interest, so the money is available.
If you reeeeaaaallly need it you withdraw what you need, up to 100%, counts as income with an additional 10% penalty.
This is tax free money to begin with so depending on how you do things you can end up keeping more money after the penalty than if you’d just not saved it in a 401k and kept it as after tax income.
Contributions also reduce your income so you pay less income taxes today as a result of saving.
A decent strategy to do if you win the lottery or make a shit ton of money gambling in the stock market is to live off your winnings and save all of your salary. Thus you avoid the income tax on your winnings.
Also there’s like a huge list of things you can withdraw for and not pay taxes.
It’s actually a good deal and you should definitely do it.
Cmon people. How can you fight the jew if you don’t know basic finances?
[ + ]deleted
[ - ] deleted 0 points 8 monthsSep 25, 2023 14:45:07 ago (+0/-0)*
[ + ] lukynumbrkevin
[ - ] lukynumbrkevin 0 points 8 monthsSep 25, 2023 11:01:50 ago (+0/-0)
[ + ] Hitlerwasrightwasnthe
[ - ] Hitlerwasrightwasnthe [op] 0 points 8 monthsSep 25, 2023 11:16:43 ago (+0/-0)
Even if the company had a really insanely good year, and wanted to profit share beyond a certain amount, they are legally not allowed to.