@Smoke J E S U S W A L K S P I L L E D

but i am highly compensated since i work in tech in a high COL area

<:udontsay:567120494516764695> your not even close to freedom

why not?

fuguer is doing excellent financially

my net worth is more than my house

your a high payed wagie

how many pajeets do you see @fuguer Seattle is crawling with them

I think he'll be about the same wealth level as my father when he's his age

i also have 401k, stocks, etc

he loves his job tho

like an autist

yo baste fuguer

thats how you get successful

basically every single year i ever worked a full time job i maxxed my 401k

virgin poor @esotericpazuzuism vs chad rich @fuguer

your not doing bad at all duck but your freedom is long off

plus company match

my dad never owned a business btw

<:AIDS:397209911567581185>

just make close to 200k for more than a decade

for a while

yep

and invest well

thats the plan

and you'll be good

boomer wealth

401k is a huge giveaway

people think the tax deduction is the benefit of a 401k

but thats bullshit

the real benefit is the money grows tax free, ZERO capital gains tax

@Medman def poor as shit but ive worked for ALOT of millionares

ppl with real money

the benefit is zero capital gains tax and employer matching

when can you cash out your 401k tho

and you can rebalance your portfolio at any time with zero tax consequences

yep nerth

my dad chastises family friends who don't max out their contributions every year lol

zero capital gains is HUUUGE

@esotericpazuzuism then u noticed they all wear little hats and rub their hands so u became a nazi

he has literally put the maximum amount legally possible every year for his career

same

@Medman naw mostly boomer whites lol

its brainlet not to

wtf is a 401k anyways

i lived like a fucking starving college student for 5 years after i got a real job

just so i could always max my 401k

most jews are not wealthy

<:oof:399031884312739841>

401k is like an IRA

its a tax advantaged savings account, the money grows tax free and you never pay capital gain on the increase

ive know a couple of jews befor

none making over 200k

<:oof:399031884312739841>

yep 401k is like free money

its like the government saying

more like 50k and tight with money

'you can invest this and you'll never pay anything on it, but you can only put so much in'

what can u do with a 401k

basically its so that everyone who works can have a million dollars when they retire if they really try

what's the point of it

that's the idea

the only thing that sucks about 401 is its not liquid and linked to the stock market

<:black_pill:565703068478341151>

oh so like freeze money u mean

stocks tank you fucked

have a event where you need it cashed

you fucked

<:honkpilled:558686758875824130>

i'm just gonna die

that's my plan

based

i'll contact mossad

and really if your under 50k mark you dont have the cash to put in said 401k

see if they are hiring

im not gonna make it past 20 <:CHAD:396569198404435969>

shut up

imma become a neet med

Damn I need to sign on with the labour party

<:CHAD:396569198404435969> <:CHAD:396569198404435969> <:CHAD:396569198404435969>

Labour party baseeeddd

Moving to the UK to subvert the labour party brb

heres an example, say you invest

yo baste

after 30 years, most of your savings are actually growth from investment, not your original contribution

so capital gains will take a fucking massive bite out of your savings

Ok I should actually go

Why does it have to rain?

lol it's early in canuckistan

it's 1:09 here in britbongland

you can put cash in 401k if you make under 50k

wtf dude

It's 8pm

I'm 28. Is it too late for me

In my part of Canada

There are 6 time zones tho

i put money in my IRA when i made 20k

the biggest black pill no one ever tells you in life when it comes to money............. end of life cost of health care will take every dallor you have saved and made

Because our country is really long