Current Events > Lol r personal finance is such shit

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_BlueMonk
03/31/18 10:39:00 AM
#1:


A recent thread said that if you're not contributing $18,500 a year to your 401k, you're fucking up.

Well shit!!!
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Ararararagi
03/31/18 10:40:14 AM
#2:


Just the one thred?
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AlphaCuck
03/31/18 10:44:20 AM
#3:


_BlueMonk posted...
r personal finance


Ararararagi posted...
Just the one thred?


TC rekt on the spot
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#4
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KiwiTerraRizing
03/31/18 10:50:05 AM
#5:


Asherlee10 posted...
Ararararagi posted...
Just the one thred?


It is a lot of threads like that, honestly.

I think that is why r/brokepersonalfinance just got created


This is true, its mostly people with significant disposal income
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Turtlebread
03/31/18 10:50:15 AM
#6:


Asherlee10 posted...
Ararararagi posted...
Just the one thred?


It is a lot of threads like that, honestly.

I think that is why r/brokepersonalfinance just got created


Its actually the much more affectionately named povertyfinance.
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Giant_Aspirin
03/31/18 10:53:31 AM
#7:


this one?

https://www.reddit.com/r/personalfinance/comments/88bet2/maxing_out_your_401k_means_contributing_18500_per/

which comment indicates that if you can't max one out you are 'fucking up' and how many votes does it have? it seems like the thread is just saying that $18.5k is the 'max'

in fact, the 5th or 6th highest comment talks about how saving that much is unrealisitic

https://www.reddit.com/r/personalfinance/comments/88bet2/maxing_out_your_401k_means_contributing_18500_per/dwjgvqu/
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CapnMuffin
03/31/18 10:55:27 AM
#8:


Placing a dollar amount seems illogical. What if your salary is 18,500?

Just match your employer and then raise it incrementally every year.
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Ararararagi
03/31/18 10:55:50 AM
#9:


Turtlebread posted...
Asherlee10 posted...
Ararararagi posted...
Just the one thred?


It is a lot of threads like that, honestly.

I think that is why r/brokepersonalfinance just got created


Its actually the much more affectionately named povertyfinance.

I'll be subscribing to that thang now. Thanks
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CharlesBronson
03/31/18 10:59:56 AM
#10:


401k lol have fun working til ur 60
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AlephZero
03/31/18 11:01:10 AM
#11:


capitalism won't exist by the time i retire so im not saving anything
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#12
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deupd_u
03/31/18 1:11:23 PM
#13:


It's mostly teenagers there. They ask either A) "I have this income. Do I have to pay tax on it?" or B) "I have $200 saved up. How do I make my money grow?"
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ItsYourFault
03/31/18 1:12:28 PM
#14:


why are you listening ot random idiots on the internet give financial advice? talk to an actual expert.
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daftpunk_mk5
03/31/18 1:14:35 PM
#15:


That's not even good advice if you can afford it. You get taxed when you take it out and if your income is going increase you should do a Roth instead.
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Manocheese
03/31/18 1:58:37 PM
#16:


daftpunk_mk5 posted...
That's not even good advice if you can afford it. You get taxed when you take it out and if your income is going increase you should do a Roth instead.

Are you really going to be in a higher tax bracket when you're 80? If your only other income when you withdraw from a 401k is from long-term capital gains, wouldn't it be better to withdraw from a traditional 401k and pay low taxes than to pay high taxes when you contribute to a Roth 401k?
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SK8T3R215
03/31/18 2:01:17 PM
#17:


daftpunk_mk5 posted...
That's not even good advice if you can afford it. You get taxed when you take it out and if your income is going increase you should do a Roth instead.


Unless your income is lower then and you get taxed at a lower rate.
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