Boomers don’t understand buying power.

HH Brother

I wanna fuck you up the ass, funster.
It’s young people bitching that they don’t have the money now and how if they take it out early you pay a penalty and they’re getting lots of views because people actually get their news and information from tik tok. It seems to be a trend of young people posting videos that 401k’s are a SCAM because the future is far away and everybody wants everything now. If your company offers a 401k AND they match a certain percent a year you’re an idiot to not take it.

The company I work for on top of matching 401k also give a yearly holiday gift of 750 bucks to everyone’s 401k that make under a certain amount. I overheard a younger girl (mid 20s) scoff at the company doing that because she said 401ks are a scam without explaining how a 401k is a scam.
It's worth it to have a 401k, Housester. But inflation is going to outpace anything you put into it, unless you're dumping tens of thousands into it every year :dm_small:
 
Lol. There’s nothing you can see that changes your mind for some reason. Yeah everything is fine, everything has always been fine. There’s no point investigating anything beyond what I’m told to think by the government.

Oh sweetie, I’m sorry people do their own research and draw different conclusions to everything is great.
I say this with all respect but I don't think you've ever taken an economics class or have any understanding of it outside of what you've read from libertarian/conservative bullshit online, written by others who also don't understand it.

Honestly, shit's bad and it's going to get worse but worrying about meaningless national debt (we found out it was meaningless when Wilson was in office and it rose to $25 billion and absolutely nothing happened) 30 years after you'll be dead is pretty idiotic. Wealth inequality was bad and often worse 100 years ago. You know what changed? We elected Wilson and FDR. Would you support those policies today?
 

NoBacon

The gunslinger.
I say this with all respect but I don't think you've ever taken an economics class or have any understanding of it outside of what you've read from libertarian/conservative bullshit online, written by others who also don't understand it.

Honestly, shit's bad and it's going to get worse but worrying about meaningless national debt (we found out it was meaningless when Wilson was in office and it rose to $25 billion and absolutely nothing happened) 30 years after you'll be dead is pretty idiotic. Wealth inequality was bad and often worse 100 years ago. You know what changed? We elected Wilson and FDR. Would you support those policies today?

I’m only using the debt as one stark example of how retarded everything is.

The average income is 5000 less than the average basic minimum living costs, and the remainder is accrued on (((high interest credit cards))) - every metric, every thing does not add up, does not make sense and the nation’s modus operandi of living in debt is a good way to highlight it.

This economic disaster and the destruction of the middle class and whites is the terminal illness for the US hegemony.
 

HH Brother

I wanna fuck you up the ass, funster.
If you are a bit clued up you will make much better returns investing your own money, and have a better chance of out pacing inflation.

It’s not for everybody and it’s not as safe but it’s smart if you pull it off.
That's not realistic for most of the population, Baconster. Three quarters of Millennials are broke, from student debt, wages driven down from border jumpers, and all the high paying jobs of the 50s long gone and never coming back.
 

NoBacon

The gunslinger.
That's not realistic for most of the population, Baconster. Three quarters of Millennials are broke, from student debt, wages driven down from border jumpers, and all the high paying jobs of the 50s long gone and never coming back.

Exactly, I pay into my 401k because I haven’t got the money to invest myself anymore, I don’t expect anything to be there when I retire but I need to do something.

You used to be able to just buy a cheap house and sit on it and watch it make you rich. That’s literally all you had to do.

Now, if you’re somehow able to buy a house, it’s like 99% of your net worth and it just takes being designated a migrant sanctuary city or they set fire to it and blame climate change and you’re now bankrupt.

You’re probably better off spending any money you have left over on Pokémon cards and keeping them gem mint 10. Joe Cumia always is right in the end.
 

HH Brother

I wanna fuck you up the ass, funster.
Exactly, I pay into my 401k because I haven’t got the money to invest myself anymore, I don’t expect anything to be there when I retire but I need to do something.

You used to be able to just buy a cheap house and sit on it and watch it make you rich. That’s literally all you had to do.

Now, if you’re somehow able to buy a house, it’s like 99% of your net worth and it just takes being designated a migrant sanctuary city or they set fire to it and blame climate change and you’re now bankrupt.

You’re probably better off spending any money you have left over on Pokémon cards and keeping them gem mint 10. Joe Cumia always is right in the end.
Eventually the youngest Millennials and the Zoomers will get drafted into the Ukraine war and many will rather go to jail because they despise this country when they cannot even buy a house, Baconster. While fresh off the bus from the border spicsters are getting holed up in 5 star hotels in NYC.
 

Toast

It's worth it to have a 401k, Housester. But inflation is going to outpace anything you put into it, unless you're dumping tens of thousands into it every year :dm_small:


IR-2022-188, October 21, 2022

WASHINGTON — The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022.

You can only contribute so much apparently. This is the first year I'm doing the max for 401k contributions, but that ain't that much over 30 years, only $675k. Still not sure how that morphs into over a million somehow. Also don't see a million going very far in 30 years either.
 

HH Brother

I wanna fuck you up the ass, funster.

IR-2022-188, October 21, 2022

WASHINGTON — The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022.

You can only contribute so much apparently. This is the first year I'm doing the max for 401k contributions, but that ain't that much over 30 years, only $675k. Still not sure how that morphs into over a million somehow. Also don't see a million going very far in 30 years either.
Even compared to 2020, dollar value has taken a big dip, Toastster. That funny money, no matter how much you save, will be worth a 1/10 when you retire.
 

NoBacon

The gunslinger.
Eventually the youngest Millennials and the Zoomers will get drafted into the Ukraine war and many will rather go to jail because they despise this country when they cannot even buy a house, Baconster. While fresh off the bus from the border spicsters are getting holed up in 5 star hotels in NYC.


Kids today are entitled and should fight wars I wouldn’t ever dream of fighting in!

*checks age to see if I can still be conscripted* They should bring back conscription! That would sort out these woke kids!
 

HH Brother

I wanna fuck you up the ass, funster.
Kids today are entitled and should fight wars I wouldn’t ever dream of fighting in!

*checks age to see if I can still be conscripted* They should bring back conscription! That would sort out these woke kids!
All the shit Millennials and Zoomers get is warranted to a degree, but they also have every reason to hate this country, their parents and have no attachment to the country of their future when they've been given such a raw deal, Baconster.

My favorite Boomer line is that they're lazy. You could work at a coffee shop in their day and pay a mortgage. Now, you're paying 3k a month to live in a tunacan apartment in NYC.
 

NoBacon

The gunslinger.
All the shit Millennials and Zoomers get is warranted to a degree, but they also have every reason to hate this country, their parents and have no attachment to the country of their future when they've been given such a raw deal, Baconster.

My favorite Boomer line is that they're lazy. You could work at a coffee shop in their day and pay a mortgage. Now, you're paying 3k a month to live in a tunacan apartment in NYC.

Sacrifice everything for a country that hates you and views you as a debt payer for blacks and old people or cannon fodder in foreign wars so black rock can seize Ukrainian farms and make everyone eat bugs.

Why do kids today have problems with suicide and mental illness? Besides pumping them full of cancerous foods, vaccines and tap water. It’s a real mystery.
 

Imager

Keyboard Warrior
I think the point ultimately is that this is unsustainable. Saying that "it worked in the 80s so things will be fine" is so mind numbingly tone deaf that I don't believe we live on the same planet.

From Sovereign Man, July of 2022:

A few weeks ago, the Board of Trustees for Social Security released its annual report. And, once again, it was a scathing indictment of the program’s solvency.

Primarily, the report points out that, since 2008, the cost of Social Security has been “increasing much more rapidly than [its income] and is projected to continue to do so through about 2040.”

And at that rate, the trustees explain, “Trust Fund reserves become fully depleted in 2034”.
They don't even factor in inflation and flat wages:

Inflation matters because Social Security increases its benefits every year based on the rate of inflation. So if inflation is high, Social Security’s outlays will increase at an even more rapid pace.

But inflation also influences Social Security’s income, which primarily comes from payroll tax and interest.

Every [legal] worker in America currently pays 12.4% of his/her salary to Social Security. So if inflation pushes up wages, that would boost Social Security’s income.

Except that’s not really happening. “Real wages”, i.e. worker salaries after adjusting for the effects of inflation, have been falling for decades. Salaries simply haven’t kept up with inflation.

Yet the program’s actuaries assume that real wages will rise for the next several decades, i.e. increases in the wages will significantly outpace inflation.

...

Social Security is hoping for a fertility rate of 2.2; the actual rate is 1.78, and falling. So this is another critical assumption that may be wildly optimistic.

Bottom line, they are projecting that the program’s primary trust fund will run out of money in 2034, after which benefits will need to be substantially reduced.

But even as bad as that will be, their assumptions may be wildly optimistic. So the program could be in deeper trouble than even they realize at the moment.
We are so fucked.

And the tik tokkers may be right. The 401k may be a scam. There is literally nothing stopping the government from taxing your 401k withdrawals at 50-60% when you retire. Eventually the debt will need to be repaid, and we'll just all have to sacrifice for the greater good.
 

TheNanaDook

If you are a bit clued up you will make much better returns investing your own money, and have a better chance of out pacing inflation.

It’s not for everybody and it’s not as safe but it’s smart if you pull it off.
I do. I’m on track to retire before 50 because of that.
 

NoBacon

The gunslinger.
I do. I’m on track to retire before 50 because of that.
We should start an investing DM chat on here. I'm always looking to learn.

You can do everything right and be a diligent and hard worker and saver, pay off a house and sit on a stack of cash and retire in the hills and through no fault of your own, your money is diluted into worthlessness, you have to pay for the privilege of owning a property and they start making it illegal to collect rain water or grow crops, then they send some fed out at night with an mp5 in unmarked clothes and murder your kids and your dogs then lionise them as a hero when you shoot back.

You shouldn’t have tried to escape the government owning every part of your life, so your kids had to get killed.
 

TheNanaDook

You can do everything right and be a diligent and hard worker and saver, pay off a house and sit on a stack of cash and retire in the hills and through no fault of your own, your money is diluted into worthlessness, you have to pay for the privilege of owning a property and they start making it illegal to collect rain water or grow crops, then they send some fed out at night with an mp5 in unmarked clothes and murder your kids and your dogs then lionise them as a hero when you shoot back.

You shouldn’t have tried to escape the government owning every part of your life, so your kids had to get killed.
Brother i hate the jew government as much as you do. I just don’t know what i can do.
 
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