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Blaze@reddthat.com to Personal Finance@lemmy.mlEnglish · 1 year ago

Was the 401(k) a Mistake? How an obscure, 45-year old tax change transformed retirement and left so many Americans out in the cold.

www.nytimes.com

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Was the 401(k) a Mistake? How an obscure, 45-year old tax change transformed retirement and left so many Americans out in the cold.

www.nytimes.com

Blaze@reddthat.com to Personal Finance@lemmy.mlEnglish · 1 year ago
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  • Che Banana@beehaw.org
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    1 year ago

    https://www.theguardian.com/australia-news/article/2024/may/09/unisuper-google-cloud-issue-account-access

    lol…any time you give money to someone else to manage you are gambling.

    Making a assumption that your money will increase in value over x is (say it eith me) gambling…otherwise why would those guys in suits have disclaimers saying “you may lose money…not all accounts make money…etc…”

    I mean, by all means go ahead, if this makes you happy go right ahead. My point still stands.

    • zagaberoo@beehaw.org
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      1 year ago

      It’s not an assumption, I understand the risks. I know it will go both up and down. That doesn’t make it gambling. What on earth isn’t gambling in your eyes?

      • Che Banana@beehaw.org
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        1 year ago

        death and taxes. sure bet.

        understanding of risks doesn’t cut the mustard… I understand the house always wins. Understanding the odds in blackjack and understanding the odds in the stock market still makes you a gambler…an informed gambler, but nonetheless a gambler.

        • zagaberoo@beehaw.org
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          1 year ago

          So if 401ks are bad because they incentivize gambling, what’s the alternative? You have a uselessly broad definition that seems to lead people only to a guarantee of losing purchasing power through inflation. Better guarantee a loss than “gamble” with strong evidence to support your risk I see.

          Saying “the house always wins” about things like index investing is hilarious.

          • Che Banana@beehaw.org
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            1 year ago

            Quoting me and saying "super specific ‘safe investment’ type of investment is 100% safe and will always make money.

            https://www.thetimes.co.uk/article/pension-fraud-stolen-uk-expat-brite-advisory-mark-donnelly-jjh5cr7mk. theyse guys aint laughing

            When you give anyone money to “invest” you are gambling that you will make money.

            • zagaberoo@beehaw.org
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              1 year ago

              ???

              • Che Banana@beehaw.org
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                1 year ago

                !!!

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