this post was submitted on 10 Mar 2025

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596

Yo! What's Goin' Down? (lemmy.dbzer0.com)

submitted 2 months ago by [email protected] to c/[email protected]

72 comments fedilink hide all child comments

TBD
To Be Destroyed

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[–] [email protected] 13 points 2 months ago (1 children)

They are still saying it is "normalizing".

[–] [email protected] 15 points 2 months ago

Yeah, right.

“Normalizing” = we dgaf what happens to everyone’s finances because we’re completely insulated from the effects.

[–] [email protected] 2 points 2 months ago

Where AMD, Nvidia and Intel!?

[–] [email protected] 11 points 2 months ago (1 children)

I'm yelling timber!

[–] [email protected] 7 points 2 months ago

You better move. You better dance.

[–] [email protected] 5 points 2 months ago

There goes my savings

[–] [email protected] 33 points 2 months ago (2 children)

My 401k lol

[–] [email protected] 1 points 2 months ago

Yup. Ouch.

[–] [email protected] 14 points 2 months ago (1 children)

Moved mine to 100% international allocations on the 4th, up like 3% since then, highly recommend

[–] [email protected] 1 points 2 months ago

Shit, great idea... I should've realized that sooner.

[–] [email protected] 3 points 2 months ago

Line goes down, arrows go up.

[+] [email protected] 29 points 2 months ago* (last edited 1 month ago) (1 children)

[removed by mod]

[–] [email protected] 14 points 2 months ago (3 children)

Ok just to clarify your first point: 60% of Americans have either a 401k or Roth IRA. The stock market is not the be all and end all economic factor but it does affect a large swath of Americans.

[–] [email protected] 7 points 2 months ago

You can allocate your funds to international investments only

[–] [email protected] 1 points 2 months ago

Don't forget 529s...

[+] [email protected] 7 points 2 months ago* (last edited 1 month ago) (1 children)

[removed by mod]

[–] [email protected] -1 points 2 months ago (4 children)

Then your friends and people you know are morons. If your place of work provides a 401k or 403b, you can talk with an advisor for free to decide how you want to invest and how much. There is pitiful amounts of money in them because they didn't add anything beyond the minimum and whatever their employer is matching. It's also a good way to lower your tax burden at year end.

If your employer doesn't have 401k or 403b, it's even more important to have a Roth IRA. You can't put as much into it each year and it's post tax dollars, but it's better than thinking you'll ever get social security in 20-40 years.

[–] [email protected] 6 points 2 months ago (2 children)

401k is a scam that was used to help kill pensions. The only reason to use one if your job locks part of your pay behind matching some of your contributions.

Even the tax savings is a lie. It's just a deferment and you pay the full income tax rate on it when you are eventually forced to withdrawal it. Even on the gains if you're lucky enough to be up when you need it.

[–] [email protected] 2 points 2 months ago* (last edited 2 months ago) (1 children)

Yes. You eventually pay the taxes on it. However, there is this thing you've never heard of called "Marginal Tax Brackets" This makes it so that when I do eventually pay the taxes on it, I'm not paying at the income level of when I was employed and instead much lower when I'm retired.

Pensions are better, but calling a 401k a scam just makes you look stupid.

[–] [email protected] 3 points 2 months ago (1 children)

If you have enough in it to live comfortably, it's not better than rolling your own and paying at the capital gains rate. To actually save you better really like tuna fish sandwiches.

[–] [email protected] -5 points 2 months ago (1 children)

I would suggest you learn a little more about how Capital gains tax rates, both short-term and long-term, are impacted on a 1099 form, before talking about tax breaks, tax brackets, or investments. Please do not give anyone advice. You are not a financial advisor and the advice you are giving, would ensure no one has a life or savings before or even after retirement.

[–] [email protected] 2 points 2 months ago (1 children)

Advice you yourself seem determined to ignore.

[–] [email protected] 2 points 2 months ago (1 children)

Well let's compare advice.

Your advice is: "Don't invest money. Store it under your mattress. 401ks are scams because I don't understand taxes."

My advice is: "Don't listen to this moron."

[–] [email protected] 0 points 2 months ago (1 children)

Your reading comprehension issues do not speak well to your advisory abilities.

[–] [email protected] 1 points 2 months ago (1 children)

Then let's review, shall we.

Did you say 401ks are scams? Yes, verbatim.
Did you say not to invest? Yes, you said "To actually save, you better really like tuna fish sandwiches." I paraphrased because that is one of the stupidest statements I've ever heard when discussing investments. Though, if I talk to you more, I'm sure you'll break that record daily.
Did you show us all that you don't understand taxes? Yes, because you said, "..you pay the full income tax rate on it when you are eventually forced to withdraw it." Showing that you do not understand how capital gains or adjusted gross income work on a 1099 tax form for deciding your end of year tax burden. Nor do you understand that paying tax while your making $100k or more a year is not the same as when you retire and your only source of income is either social security, dividends, weekly withdrawals, or a mix.
Did I say not to listen to your bad advice? Yes, because clearly you don't have a clue what you are talking about.

I'll say you won this argument. This whole thing is actually my fault and I should have known better from your first reply. Never argue with an idiot, they will drag you down and beat you with experience.

[–] [email protected] 0 points 2 months ago

Wow, that was even worse than I thought. You truly cannot parse context. I'm so sorry for making fun of your disability.

[–] [email protected] 5 points 2 months ago

It also systematically intentionally forces the most vulnerable to be entirely dependent and aligned on capitalism

[–] [email protected] 16 points 2 months ago (1 children)

"Go woke, go broke"

[–] [email protected] 4 points 2 months ago (1 children)

Go fascist, go.........broke-ish?

[–] [email protected] 18 points 2 months ago (1 children)

Go fash lose cash

[–] [email protected] 5 points 2 months ago

There it is, much better, bravo!

[–] [email protected] 2 points 2 months ago

Mundus sine caesaribus is what's going down.

[–] [email protected] 5 points 2 months ago

Rodrigo Duterte

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