Are 401Ks a scam?

This. My dad was only retired for two years before passing away and most of his 401k went to hospice bills.

i put into one and have for about 20 yrs, but the bare minimum 3% and refuse to up it even after the company pressures you do since "muh matching" (they don't even match it anyway)

I'm putting enough in mine to hopefully become a decamillionaire by retirement. What's the problem? It's a great way to grow money tax free, and if you croak before you use it, the money just passes to your spouse or kids.

Wtf are you going to do with random money at 60-70 years old lol? That is if its not ruined by boomers continously dumping on the market

Don't worry the retirement age will be 75 once you are close to retirement.
It already is 67 in germany LMAO

Most of the posters in this thread don't have the kind of employment that offers a 401k.

It's just sour grapes.

If your employer matches your contribution it's literally free money. I get a 6% raise by doing it. Nobrainer, plus I can control the investments.

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Therein lies the issue. The equities market receives about a trillion annually from people who would otherwise be uninvested, regardless of whether or not it's a good investment. It's irrational for any individual worker to do anything else.

It pumps boomer bags which they will be cashing out from now. Still probably better off taking the match, but it's a shitty situation nonetheless.

Seems like a good thing to me. It's probably why the stock market doesn't dump nearly as hard as crypto when market downturns happen.

Capitalism is a meaningless term made up by Marxists to denigrate anything that isn't Marxism.

All systems are capitalist, even Marxist Socialism. Whoever controls the capital decides how it is deployed. (Duh)

It all depends on your planning. Here's how it usually goes:

>I plan on withdrawing less in retirement than I'm currently earning

401k, take the tax advantages now and shovel money in

>I plan on taking out more in retirement than I'm currently earning

Roth, take the tax advantages later

>I don't trust our government or the voters and think these programs will eventually get fucked

Stick to traditional brokerage

>I want the flexibility to withdraw at will even if these are long term savings

Stick to traditional brokerage

>My employer is matching my 401k dollar for dollar

Take advantage of every cent, that is literally free money even if you withdraw early and take a 10% penalty after the fact

People forget that long term capital gains are only taxed at a rate of 0-20%.

Haha silly, socialism is still preferable, now instead of various large organizations hoarding capital and vying with one another there's only one (the state) and they can also imprison and execute you if they want, that's better!

Yes

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No, they are great for people who don't know anything about investing. The money being locked up is good for people who otherwise have no self control and have no idea what they are doing. Many of those people would otherwise have nothing when they retire. They are also good in that a company will often provide a contribution or match of some sort. It is free additional salary. Are they the best thing for everyone? Absolutely not, but they are fine for a large portion of the working class.

It's a fucking scam shit. It happens to me from my former place of work. I can't benefit from anything. This pension contribution thing is a waste of time and resources I can tell you what's down with it. My former company stops contributing for a couple of months and they kept deducting my salary. The 401(k) company also is not willing to give me my money after resigning from my former company. I'd rather stake my damn solid privacy coin such as scrt than waste time on 401(k)

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Me saving money with 401k company means nothing. I got nothing after resigning. I can tell it's a big scam. I'd rather lock the fuck out of my crypto tokens than give my money to those freaks

All systems are capitalist. Socialism is capitalism. There is no difference.
Whoever controls the capital decides what's done with it. You're gambling on a central state authority being a better steward of capital than those who are currently deploying it in our current, more decentralized system.

Here's the thing, you don't need to assume central control of the capital to achieve this goal. This is what regulation is for. Every fucking Marxist wants to take total control rather than just policing the existing capital holders to ensure that they are being good stewards of the means of production. You don't have to take control of my pitiful 500k NW and 95k annual income to make sure that the elite are using their billions properly.

That's what they do. Monsters piece of shit

Capitalism implies free market. Crony capitalism means government intervenes to benefit their preferred group. In this case government is intervening by creating policies which encourage wagies to lock up their investments with big investment firms.

At least it isn't as bad as Social Security

>they are great for people who don't know anything about investing
That's both the good and the bad thing about them.

Didn't read your whole post and I feel like a dumbass. (And certainly am)

Yes. Marxist remedy for over centralization of the means of production is total centralization of the means of production under the state. It's really that asinine.

Tax deferred. The growth isn't tax free unless it is a roth

You will need that money to afford the Philipinos to change your diapers in your own home. Otherwise, you will end up in a government facility and you do not want that.