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Naive Man Puts Money Into 401(k) as if Future Exists (thehardtimes.net)

submitted 2 months ago by Garibaldee@lemm.ee to c/theonion@midwest.social

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[–] ininewcrow@lemmy.ca 38 points 2 months ago

Lol .... I'm indigenous Canadian and I thought the headline said 'Native Man'

[–] Zink@programming.dev 11 points 2 months ago (1 children)

I keep wondering if the incoming tech oligarchy administration will boost stock prices (because that's how they compound the billions) and that will be enough to keep us in this rut longer than we would be otherwise.

[–] gingernate@sopuli.xyz 7 points 2 months ago

The US stock market always performs well during Democratic presidents terms and does not do well during republicans

[–] theuniqueone@lemmy.dbzer0.com 6 points 2 months ago

What an idiot.

[–] TachyonTele@lemm.ee 4 points 2 months ago (3 children)

I learned the hard way that 401k is a scam.
Just put money in a savings account, people.

[–] baines@lemmy.cafe 36 points 2 months ago

losing 5-8% buying power every year sounds great!

[–] NaibofTabr@infosec.pub 17 points 2 months ago

Ah yes, love me some 0.01% interest. Surely my savings will grow.

[–] Gerudo@lemm.ee 11 points 2 months ago (1 children)

Bruh, it's pretax dollars in an account that 9 times out of 10 out performs interest rates. Even in huge downturns, it will bounce back thanks to stock market goes brrrrrrrrr

[–] TachyonTele@lemm.ee 3 points 2 months ago* (last edited 2 months ago)

I must have hit that 1 out of 10 shot. Bro.