That advice seems like a red flag. There are way more options to diversify investments in an IRA than a 401k, you can also invest in the same funds through an IRA that are available to your 401k. Either way you end up paying fees to someone as well.
Yep. I just always put money in my 401k, I don’t know what a paycheck without 15% going to retirement looks like. I’ve still got at least 30 years to go.
Ironically the US is one of the easier countries to immigrate to.
Get a cheap disposable one. If you really don’t use it often the cost of an unused reusable thing is greater than buying disposable.
And that’s still the lowest it’s been since 2021.
Pensions are protected from bankruptcy, but they aren’t guaranteed the same payment. There are maximum payments and it’s complicated to give an accurate number, because it depends on the type of pension plan, the age of retirement, years of service, and generally doesn’t honor bonuses like early buyouts.
Pensions have a number of multipliers that make job hopping less ideal. The formula is roughly percentVested x accrualRate x yearsOfService x maxSalary. Vesting hits 100% at 5-7 years, accrual is roughly 1.5% depending on employer. By leaving early you take big hits on the vesting and max salary multipliers that cause it to be a lot less money. One job for 30 year with 100k mak salary would be a 45k pension. 3 jobs, 10 years each with 50k, 75k, and 100k max salaries is only a 33,750 pension.
That’s what happens with massive inflation, more and more people get made poor as income can’t match the rising costs. Once inflation cools to the point cash from month 1 is about the same as cash from month 2, people have a chance to get out of poverty.
MMT argues that government printing money isn’t inflationary, and inflation can be controlled with taxes. Argentina had massive inflation while spending and taking on debt, and magically it’s gone down as measures to stop that spending were implemented.
This is terrifying news for the MMT crowd though as it’s pretty good proof their theory is bullshit.
Inflation was 200% last December, poverty would be 100% without drastic action.
In this dude’s defense, Trump was the first president to not send troops into a new conflict in my lifetime.
401k is superior in almost every way though. The big downside is there isn’t a mandatory contribution. Pensions forced an employee to work in the same company for 20-30 years and hope they never got acquired or went bankrupt. Then they could retire and still hope the company never went bankrupt, because the pension funds were universally underfunded. Lots of people faced their pension being reduced by a significant amount after they’ve been retired for a decade or so.
A 401k gives the worker the power to move without jeopardizing their retirement. It allows the default death benefit to be 100% transferable to another. It’s not a surprise when a 401k runs out of money. All you have to do is fill out a form when you start a job to put a reasonable percentage into it.
I don’t understand the love for white devices. Thanks to everyone paying a premium price for an inferior color.
It happens all the time. Feminism was women’s rights until they rebranded and claim it’s for everyone. Literally can be used to mean figuratively. Inflation used to be a measure of the loss of value in a currency, now it’s just generic price increases for any reason. Racism used to be about a belief in the superiority of a race, then it got refined to only apply to a race with privilege.
Student loan relief isn’t a great message for a lot of people though. It’s a handout of 10s of Thousands of dollars to people that were able to go to college. That means fuck all to those that never had the chance. College is more expensive than ever, and nothing has been done to stop the massive increase in costs.
How wonderfully tone deaf.
Chili is a tomato based curry and pretty much anything is acceptable if balanced properly.
Beneficial on a 20 year timescale, arguing a benefit of future savings is economical fiction.
It happened to a friend of mine. I don’t think it was intentional. Guns are common heirlooms, suicide definitely makes it awkward though.
No one cares about genocide. At least not in significant numbers.