OtterFuture Insight – The Jenkins
harkOld 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.
SARGEx117I’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blackpilled you can make flexible investments by putting money into a Roth IRA, whose principal (not growth) can be withdrawn at any time without penalty.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.