preston (npub1s5y…6q7z) So Preston, I think you're the guy to help me out here. I've been thinking (an acting) on this thought for years now.
How could one argue it still makes sense to contribute to a 401k, whether it’s Roth or not? Let's even say there is a 6% match and that the individual is 30s...
I can't believe how corrupted this system is. This wage earner/fiat miner is spending their 40 hours weekly to earn in fiat that 'they' can print for free. And he is led to believe the only way he can retire is by contributing to his 401k.
BUT 1) He can't even choose which specific assets are held within his 401k 2) He can't access these funds for almost 30 years without penalty and taxes 3) Even if he does want to withdraw, they can tell him NO.
It's pure insanity that this is one of the most common forms of 'saving'. In this scenario, I would argue even with the match it just makes no sense. Add on the fact that equity is way over-monetized and to me it's a no brainer. Luckily, we have bitcoin as the alternative, I just sometimes can't fathom how we got here.
JakeDietz / Jake
npub1px…n5yqp
2024-01-13 02:30:35
Author Public Key
npub1pxty7keslzszdvhs5v7kzudnedaxwun92tg6z8quxhlx0tkgwkkqzn5yqpPublished at
2024-01-13 02:30:35Event JSON
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"content": "nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z So Preston, I think you're the guy to help me out here. I've been thinking (an acting) on this thought for years now. \n\nHow could one argue it still makes sense to contribute to a 401k, whether it’s Roth or not? Let's even say there is a 6% match and that the individual is 30s...\n\nI can't believe how corrupted this system is. This wage earner/fiat miner is spending their 40 hours weekly to earn in fiat that 'they' can print for free. And he is led to believe the only way he can retire is by contributing to his 401k.\n\nBUT 1) He can't even choose which specific assets are held within his 401k 2) He can't access these funds for almost 30 years without penalty and taxes 3) Even if he does want to withdraw, they can tell him NO.\n\nIt's pure insanity that this is one of the most common forms of 'saving'. In this scenario, I would argue even with the match it just makes no sense. Add on the fact that equity is way over-monetized and to me it's a no brainer. Luckily, we have bitcoin as the alternative, I just sometimes can't fathom how we got here.",
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