Is it even worth contributing to a 401k...

is it even worth contributing to a 401k? your investment choices are limited to shitty mutual funds and you cant touch that money without using some kinda intricate loophole, wouldnt that money be better off in a taxable brokerage instead? at least youll have more control and can withdraw anytime

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yes

the point is to contribute and accumulate pre-tax income so that you can roll it over into an IRA at a later date

You’re basically being a cuck to the government

You save for your own retirement so they never give you a single dollar later down in the line + they can keep funding single mothers and mass immigration to replace you

>b-but it’s tax free!!!!

It’s only tax free withdrawal when you turn 60+ And that’s only for a 1 off withdrawal. If you keep it in an account and use it to draw an income you’re gona pay income tax on it later down the line

Yes because you can take out loans against the 401k like I did. Tax free money. The worst thing that can happen is you lose your job and have to pay income taxes on the loan.

you can only roll it over into an IRA once you quit your job or get fired though

i see, i read that also the interest on the loan is paid back directly to you and if you miss a payment it wont affect your credit score, neat but why do you need a loan to begin with?

Imagine planning on living to 59 1/2 kek

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Yes, its a great way to build wealth. The overwhelming majority of people should invest only in low-cost index funds.

For those who do not know, the solution to this is a Roth conversion ladder. So, yea, its worth it

investopedia.com/how-roth-conversion-ladder-works-5214808

Contribute to get the full match and then invest the rest yourself. If the company doesn't match then no, stay the fuck away from it.

>is it even worth contributing to a 401k?
Yes. At least do the minimum to max out your employer match. You are leaving free money on the table if you don’t.
>your investment choices are limited to shitty mutual fund
You can self direct investments. A S&P index is perfectly fine for retirement funds. Likely a safer option and has averaged 10% over the last 90ish years.

I can take unlimited in-service distributions to my roth IRA for a $5 fee, up to about 60k a year while I'm working. Then after I leave the company I can roll the pre-tax money as well of course. Pretty legit if you ask me, not all 401k plans are shit.

Checked, based and correct-pilled. It's not that intricate, all you need to know is that you can do a roth conversion once you retire, and you can always pull that converted basis out of your roth with no penalties.
As long as you think there will still be a standard deduction when you retire, you can deduct money today at your marginal rate and then fill out your standard or itemized deductions and lower brackets with 401k conversions when you retire.

T. David torahblatt manager at kikeberg wealth management firm

ok so only get the companies match, then do i max out roth ira and the rest into taxable brokerage?

Enjoy your destitute retirement

rope is cheap and old bodies are worthless

But can't I take out loans against my portfolio without it needing to be in a 401k?

I do but only for the employer double. The year after I quit work, I begin withdrawing, 10% penalty is nothing.

Please dear god go back

The loan means you don't have to sell your shares and pay capital gains tax

I put 51% of my income into my Roth 401(k) until I max it out for the year.
I think it’s worth it, I still invest the rest of my disposable income. Either way, I’m putting a fuck ton of money away.