OtterFuture Insight – The Jenkins
photonic_sorcererIf you have perfect knowledge of the future and know which stocks will do well, why bother with trying to diversify your portfolio to try to mirror the market?
MadlaineWho knows if you really want to have much much wealth in the future.
Maybe he would have made the deal of his life the next week if his future me wouldn’t have intervened; but 30 years later everybody that ever had more than a million gets killed by the revolutionary movement that swapped across the world after society almost collapsed due to greed.
But he managed to reach a time machine, and now he calculated that if he saves a maximum of 15% he will only ever reach 975000 bucks and therefore survive the revolution
DasnapMaybe they’re really risk-adverse and don’t trust they haven’t fucked everything with the butterfly effect just by being there.
insomniac_lemonSo, as it turns out there are a few big reasons.
- it's a cosmic felony
- causing improbable events creates a new timeline which increases entropy in all probable realities, which can have some drastic (and usually negative) effects.
- most time travel agencies (which is what most people can afford) use technology that doesn't actually allow for free will, that's why it's mostly sold for vacations. You can alter/push some decisions, but for most people it's not gonna be successful stocks.
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- older technology was advanced calculation in a realistic simulation. Most people just wanted an old memory or to get closure. Some people just try a different meal or movie choice, the experience is all that matters.
- time mercenaries. We're actually not sure who these guys are, but we also don't wanna know either. Some say they're who cause spontaneous combustion and embarrassing deaths.
- most forms of actual time travel leave the user stranded, with chronic or terminal illness (and sometimes amnesia), and in some cases fading/poofing out of existence.
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- On top of that, new timelines of you typically aren't experienced by you. It's a different you. So that was nice of you.
- time spiders. You don't want to know.
tostimanVery informative, thanks
time spiders. You don’t want to know.
They’re really more crab-like than spider-like. If you bring a net back home from vacation, you can snag a few. They’re delicious steamed with butter.
Don’t eat too many; their chroniton level is through the roof.
How long do you cook them?
Possibly the butterfly effect is greater than we possibly can imagine.
In some 401k plans you can invest in specific stocks or at least specificsector funds.
What exactly is 401k?
As a Warhammer fan, I’m telling you it is wild.
Kyoyeou (Ki jəʊ juː)It’s even further than 40k when the T’AU empire have saved the world obviously
massive_bereavementblasphemy
when the T’AU empire have saved brainwashed and enslaved the world obviously
FTFY
Says the guy certainly working for a dead emperor hmmm
Well, Imotekh is indeed technically dead, but another kind of dead… more like… undead?
harkIt’s like an RRSP.
So if you have a 401(k) you agree to have part of your paycheck go to a fund and your employer matches however much you put in up to a certain percent. It helps get around some taxes when you eventually pull the money out for retirement.
Originally it was supposed to be a supplement for pensions but pensions meant less profits because they need to be fully funded, so over the years big corporations pushed 401(k)s as an alternative to pensions because they can just push that responsibility onto us.
A defined benefit pension puts market risks on the company. A 401k puts the market risk on the individual.
Altima NEOThe employer matching is definitely not always a thing
Personally I’m way happier with a 401(k) than a pension. Risk is more distributed with a pension, yes, and many people don’t have the knowledge or resolve to properly manage their own retirement funds. But pensions are a royal PITA, way more complicated (and expensive) to manage than a 401k. So if I had to choose between money coming out of my paycheck to go into a complicated expensive pension fund that may or may not be around in a few decades, OR a 401k that I have complete control over and can take with me when I leave the company, I’ll take the 401k every day of the week.
A 401K is a USA tax deferred investment account intended for use after age 59.5.
It’s name comes from the section of the tax code that discusses it.
Old self is greedy and wants young self to reduce the fun of their prime years by locking away money so they can sit on a big ol’ retirement fund in their older years. Of course, that’s assuming that past performance guarantees future results and that the conditions of the 401k will remain the same. What’s to say politicians don’t start applying extra taxes on 401k withdrawals? What’s to say they won’t increase the retirement age?
A lot of people can’t spare 10-15% of their income and I’m not so sure the advice is not just a ploy by 401k fund managers to squeeze out extra fees. Maybe it’s just a silly little comic and I’m taking it too seriously.
killeronthecornerYoung Johnny should ask old Johnny why they don’t simply buy a sports almanac
Flying SquidBecause Marty will just steal it. Duh.
I’ll be honest.
I don’t bother with a 401k because I don’t believe I’ll be able to benefit from it.
As in, I will either be dead long before I can touch it without penalty, or society will be so unrecognizable that it won’t make a difference either because of extreme inflation or societal collapse/restructure due to exterior factors such as climate change.
If this ends up biting me in the ass, rest assured I’ll go back and tell all the commentors who say you’ll be sorry and give them their brief dopamine hit from being right. Until then, I guess we’ll see.
Yote.zipYou can withdraw from 401ks early if you use e.g. a Roth Ladder. If nothing else, withdrawing with a penalty is still a viable option if you’ve been investing properly and have an excess of money.
As for betting against the earth, if you’re that blackpilled you can make flexible investments by putting money into a Roth IRA, whose principal (not growth) can be withdrawn at any time without penalty. You can’t put the money back into the Roth IRA later, however. If your company offers a 401k match you should always always always invest the minimum amount to get the full match, idc how depressed you are.
Agree a lot can’t spare it. Getting to 15% is pretty tough. You can do the math though and see that even 10% will likely make it tough to maintain your current lifestyle with inflation accounted for in the absence of active cash flow. Don’t forget when you have more leisure time you are more likely to find things to spend on and also reserves for health issues / other surprises is important too. Sorry to sound like a dad / investment advisor, but I don’t think it’s a ploy so much as the terrifying reality that most of us are under prepared for.
SmokeyDopePeople need to start living well below their means, not right at them. Anyone whos lifestyle becomes tough to maintain from putting away just 10% of their income and lives from paycheck to paycheck needs to re-evaluate their living conditions. Either learn to live with less/spend less or go somewhere cheaper. Its not that hard if you never go into debt, don’t pay rent, and live minimally. Which I do admit most people are either unwilling or unable to do those things given their life circumstances and responsibilities. God help the ones that signed up for 30 years of mortgage payments at 15% interest that will take half a lifetime to pay off if theyre lucky.
“just live for free”
Unironically, yes. When you have some property thats yours and everything else is paid for you only need money for the barest of essentials in life. nonperishable food, heating fuel, plenty of water, some gas for the car, clothes, household supplies, and a good efund in case something ever happens. You have to give up a lot of modern convinence to live that way but being free to not have to work 24/7/365 just to survive is great. Sorry that the idea of such an option upsets you or sounds unrealistic.
“Just own land and a vehicle outright” I am very happy for your privilege, but this is absolutely unrealistic.
You can find a parcel of land in a rural area fairly easily for only a couple thousand dollars, maybe 10-15 k if you want some real acreage. A cheap ass used van from the early 2000s is 3000-7000 depending on how good a deal you get. Most people can get a loan for an extremely cheap van, move into it for a few months and pay themselves the 800-1500 in rent (if not more now), and have it paid off fully after a few months of work, then start saving towards a bigger nicer van or that parcel of land. Not everyone is so fortunate to do so as they have a family and kids or other responsibilities that make this path a non-option but its not privilege its proper planning and a ton of lifestyle compromises. I worked hard and saved up for everything Ive ever had and saw an unusual option that works for me, I guess that makes me privlaged?
saw an unusual lifestyle option that works for me, I guess that makes me privileged?
Yep that’s what that word means.
This is dependent on where you live. I live in a rural area and the cheapest plot of rural land is $325,000 and that’s 0.75 acres.
325k for a plot of rural land with no buildings? I can maybe see that in “rural” southern California or Washington State, but nowhere else in the US makes any sense to me unless we just have very different definitions of rural.
Good thing the world is bigger than the US.
People really seem to hate seeing others succeed. Congratulations on your financial stability, sounds like you’re in a good spot. I’m working on getting my finances in order and repairing from when I lived above my means.
Thank you, I hope that things go well for you and that you find success in whatever you need most out of life.
I always get downvoted to hell whenever I express my experiences and views on this. Many people are just in an absolutely miserable unfair financial situation with no easy way out. Many were goaded into terrible amounts of debt when they were young and dumb. Taking 50k in debt for a useless college degree you weren’t really interested in right out of highschool and either paying exorbitant rent or mortgage for years on end just scraping by. It will make anyone bitter and resentful of those who managed to avoid such crushing financial debts and responsibilities.
Its easy to convince ourselves that its not our fault for the choices we make when life doesn’t go well. Play the blame game and point fingers at unfortunate personal life circumstances, or a corrupt society, or an unfair economic system designed to make a few very rich and everyone else dirt poor, or whatever else. When the core of someones message is “You are ultimately responsible for your finances and the lifestyle choices you make, with proper planning and compromising on some of the conveniences of modern living you can avoid crushing financial pressure” well its easy to see why a lot of people are mad and write it off as the words of the ignorantly privileged.
Well. I assume this guy is actually from the future. So in theory wouldn’t he know that in the future 401k’s have not been taxed into irrelevance? I feel like if he’s coming from the future with this advice it’s because he feels it’s still good advice in his future.
oatscoopAnd then one day you wake up and you are that “old” person. Then you realize you’re screwed: the health problems that aren’t a big deal if they’re treated are debilitating because you can’t afford treatment. Those issues you assumed are going to kill you don’t, and instead you linger for decades with a garbage quality of life.
Yes, you need to strike a balance – but not planning for old age is fucking stupid.
Shit ya’ll are making me rethink leaving the state.
and then those health problems turn out to be so expensive that the cost far exceeds what you can afford through your 401k anyway. I’m not saying no planning should be done, I’m saying that your planning should lean more favorably toward the present than the far future. For many, 10-15% of income is so much of a sacrifice that I’m willing to bet the payoff wouldn’t be worth it in most cases.
…I’m not so sure the advice is not just a ploy by 401k fund managers to squeeze out extra fees.
Invest in an index fund and the fees are almost non-existant. Invest in several index funds (Large / mid / small cap & emerging markets) so that you don’t have all your eggs in one basket.
Good plan, temporal instability tends to make things like giving yourself a list of winning lottery numbers butterfly effect out into ways that have unintended consequences. Tends to make the list meaningless short after as well, too.
What company let’s you put a full 15% into a 401k? I mean… sign me up.
The limits on 401k contributions are federally regulated and are set as a nominal amount.
Employers often have employees select a percentage of their income to contribute. Also, employers can match employee 401k contributions. That is usually a percentage match of annual salary up to a given limit (e.g. 2% of salary up to $3000).
Generally you can put in as much as you want but they only provide matching for some percentage. Usually like 1-5%. There is a total contribution limit but that won’t affect most people.
You can put in a max of 22,500 per year. The employer contribution can be higher.
The company limits it to a percentage of your paycheck. Where I work it used to be 10% so I was never mathematically capable of maxing the full irs limit, but they moved that to 30% recently.
Any company that pays you less than $150,000.
You can put in however much you want, the company only matches up to a certain low percent though. Typically less than 5%. I personally put 17% of my income into my 401k since I didn’t do anything for about a decade that I should’ve been doing 10% and now I’m trying to catch up, company only matches 3%
The company I work for just moved up to 30% of your paycheck. But they don’t really match. They say they do, but the max they will match is $750 per year.
You can put however much you want in. Max is like 22k a year. You’re probably thinking match, ya basically no company will match 15%.
That’d be to close to a pension fund or something reasonable. We can’t have that. The boomers said those were bad, raegonomics are good. Fuck pensions and unions.
Unions, blegh.
I was forced into a union at my job, and it’s horrible. We get tons of time off, full benefits, protection from our employers when they try to violate the contract or do something illegal, and great pay. I’m currently set to retire at 55 years old, with over $10,000 a month income between my pension and 457b.
I mean, what the hell is my $100 a month in union dues doing for me!?
That was me 16 years ago. I was so used to “work hard play hard” that I butted off with the union. They sent goons to intimidate me in the toilet, telling me to stop trying to beat records. I hated unions for years after that. Now, I see why they can be good, necessary even but I’m still kinda scared of them.
I feel like you didn’t read the whole of their comment.
Yeah, I was commenting on how I used to think that the benefits of unions weren’t worth the trouble. Now I know better. Still scared of goons, but I know better.