https://www.youtube.com/watch?v=6ozf-CHiURc
Yes, we should instead be nepobabies who's never had real jobs.
>>62288110401k seems cucked compared to a chad TFSA?burger bros, am i missing something?
>guy with trust fund says you shouldn't invest for retirement
>>62288110It's a scam in that it locks cash into the stock market for 40 years and acts as a floor.
>>62288110What phenotype is this?
>>62288120The TFSA is pretty nice, I wish the US had it. But it's not terribly useful for retirement, the annual contribution limits ($7kish) are way too low.The US Roth has the same problem even though it is intended for retirement, which is why there's so much talk about backdoor Roth conversions which offer a (theoretically) legal way to increase Roth contributions.Meanwhile the lowest tax bracket for capital gains is 0% up to $96k/yr, so you can use an ordinary brokerage account for much of what canadians use a TFSA for.>>62288143It doesn't though. You have to leave the money in the 401k, but it can be invested in anything that 401k provider supports. You can sell the stocks in your 401k and leave the cash there. Or buy into a bond fund. Right before the 2008 collapse I moved nearly all my 401k money out of mutual funds and into bonds, then rotated back into stocks a year later.
>>62288148>he doesn't know what a jew is
>>62288192holy new fag, or what?
I can do exaggerated meme/slang style without explicit sexual “gooner” content. Here’s a chaotic terminally-online version: “BRO COMMUNISM GOT PEOPLE EDGING THE ECONOMY FOR 70 YEARS JUST TO BUST OUT… ONE POTATO Whole pitch be like:‘Bro trust me everybody equal no rich people ’Then reality hit like post-nut clarity Doctor grinding med school for 12 years Couch goblin grinding absolutely NOTHING System be like:‘Yuh same rewards king ’Ain’t nobody wanna lock in after that Store shelves look vacuum sealed Citizens camping bread lines like it’s a limited Twitch drop Meanwhile government leaders somehow living ultra-instinct luxury mode while civilians sharing a singular cabbage like a legendary loot item Then every single collapse got one dude appearing from the shadows like:‘THAT WASN’T REAL COMMUNISM ’BRO THIS IDEOLOGY BEEN IN EARLY ACCESS SINCE 1917 Whole system got group-project energy:one guy carrying harder than a ranked sweat five dudes spectating saying ‘we all contributed’ FINAL BRAINROT RULING :Communism marketed itself like heaven DLC…delivered gray apartment simulator and hunger battle pass ”
>>62288200What phenotype is that?
Probably bc when the entire US is controlled by nons they’ll raid our 401k for gibs. I’m still contributing to max the match.
>>62288156>You have to leave the money in the 401kYou can also roll the entire amount into an IRA with your broker and trade anything your broker offers.
Can any smartie pants explain why IRAs have contribution limits in the first place?My bank's ira rates are so bad (1% apy) I feel like I'm throwing that money away just for better taxes.
>>62288110not familiar with particulars but of coursejust operate under the assumption everything in america is a scam>>62288156>The TFSA is pretty nice, I wish the US had it. But it's not terribly useful for retirement, the annual contribution limits ($7kish) are way too low.well it's useful for average poorfag who doesn't use it, you're obviously a different breed of goycattle
>>62288110why is he screaming Marky?
>>62288232>why IRAs have contribution limitsTaxes and a long-standing soak-the-rich attitude in congress. The fear was that if there were no limits then all the rich people would put all their money into their IRAs where they could do their trading tax-free. Poor people could do the same thing of course, but they have far less money to do so, so this was seen as an unfair advantage to the wealthy. Also it means capital gains taxes on all those in-IRA trades would disappear.You still see some massive IRA accounts, Peter Theil rather famously has a bit over $20 billion in his Roth IRA, and if that pisses you off then you have your explanation for the contribution limits (though he didn't exceed the contribution limits, he just used his Roth to buy pre-IPO paypal, then used that to buy pre-IPO facebook, then used that to buy pre-IPO tesla, then used that to buy pre-IPO palantir and is probably using it now to buy pre-IPO SpaceX and OpenAI)
>>62288232Why tf are you buying an IRA at your bank? Open an IRA account at Fidelity or Schwab and invest in the stock market or bonds or whatever you want.
guy who makes money from his viewers donating money to him doesn’t want you to put money in a 401k, which makes your money inaccessible to him
>>62288349I looked into this and its effectively like a hybrid between an IRA and a 401k. I think next tax season I'll open this up, I set a calendar reminder and everything.Thanks dude! Although, its not like all of my regular stock investments are gonna disappear overnight or anything. I'll be fine.
>>62288205irish itailian with hint of american nigger somewhere probably
>>62288110Yes. The problem with modern finance is that none of it works without Treasury Bonds. If you look at any assets and peel back the layers and what it really amounts to is nothing more than a Tax bill. The rich are using bogus collateral to secure massive loans who have bought up everything and we're chasing after the now elevated prices of everything waiting to eat shit and bag-hold when they pull the plug. You may get 100% return on employer matched contributions, but the reality of the assets you are buying is they may be $0.05 or $0.10 on the dollar of assets. So even if you double the assets you own, you spend $1 to get $0.10 of assets which doubles to $0.20 of equity. The wealthy have by-and-large stolen all of the true value and the DELEVERAGING event needed with cause a massive sell off of everything you are waaay overpaying for. Sure, it is advantageous to have this crap sitting on the sidelines. But when you truly look at what you are buying, it's all a leveraged scam of exactly this:1 - Take in good resources and labor TODAY2 - Find ways to swap that for a promise to pay TOMORROW. They take in $1 and they promise you a 5% return. And the underlying asset backing it all us are Treasuries which is a TAX BILL that says YOU owe the government $200,000. And when you and everyone says you won't be paying that money it all falls to shit.
>>62288110Why is Hasan so mad?
