This is why people would do well to manage their own retirement funds, invest in individual stocks or ETFs they know align with their best interest. Avoid mutual funds. If you prefer ETFs, you can use a service like M1 to "build your own", again, tailored to your preferences and to (hopefully) produce the greatest return while incurring the least risk.
If you're worried about those who would manage OPM, don't put your money in their hands. And if you can't do it in a 401k, open a Roth IRA.
Last I checked, most 401Ks offer a small number of funds, and do not allow direct management of your money. And, if you opt out of your 401K to fund an individual account, you lose out on the company match.
I agree with you, but for most people, I believe it's not an option.
True. That's why, to take advantage of my company match, I put all my 401k money in a money market account. It doesn't earn much interest, but it's basically a 100% return on my investment due to the match (I put in just enough to max out the company match). Any other retirement savings I do is in private investment accounts.
And even my 401k is a Roth. Anymore, especially with government's lust for OPM, people should not be putting pre-tax money into retirement savings. That money is (currently) more susceptible to the whims of the warlords. Roth is post-tax, so there is no current-year tax saving, but money withdrawn at retirement is tax free.
This won't end with mere "guidance" as to how your money should be invested. Unless you finally tell them to bugger off your next trip to the ballot box.
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Perhaps a quote from hitchhikers guide regarding ‘them’ and … when the revolution comes.
If I thot an election might change the course of our criminal public servants, I'd have hope. But how many election cycles are needed to remove enough of the criminal lot to make any difference, while replacing them with unswerving law-abiding honest ones? Finding honest replacements is, in itself, a tall order. The entire system is entrenched with corrupt control. This has been the case for Many years and that doesn't unwind with an election.
It starts with an election. Unfortunately, people are way too tribal, and just keep voting their team into office, no matter what misdeeds they learn of.
This is why people would do well to manage their own retirement funds, invest in individual stocks or ETFs they know align with their best interest. Avoid mutual funds. If you prefer ETFs, you can use a service like M1 to "build your own", again, tailored to your preferences and to (hopefully) produce the greatest return while incurring the least risk.
If you're worried about those who would manage OPM, don't put your money in their hands. And if you can't do it in a 401k, open a Roth IRA.
Last I checked, most 401Ks offer a small number of funds, and do not allow direct management of your money. And, if you opt out of your 401K to fund an individual account, you lose out on the company match.
I agree with you, but for most people, I believe it's not an option.
True. That's why, to take advantage of my company match, I put all my 401k money in a money market account. It doesn't earn much interest, but it's basically a 100% return on my investment due to the match (I put in just enough to max out the company match). Any other retirement savings I do is in private investment accounts.
And even my 401k is a Roth. Anymore, especially with government's lust for OPM, people should not be putting pre-tax money into retirement savings. That money is (currently) more susceptible to the whims of the warlords. Roth is post-tax, so there is no current-year tax saving, but money withdrawn at retirement is tax free.
Thank you Sir, the most essential paragraph…..
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This won't end with mere "guidance" as to how your money should be invested. Unless you finally tell them to bugger off your next trip to the ballot box.
———————————-
Perhaps a quote from hitchhikers guide regarding ‘them’ and … when the revolution comes.
Hedley Lamarr. Clearly we appreciate the same films.
I don't trust people who don't appreciate Blazing Saddles.
If I thot an election might change the course of our criminal public servants, I'd have hope. But how many election cycles are needed to remove enough of the criminal lot to make any difference, while replacing them with unswerving law-abiding honest ones? Finding honest replacements is, in itself, a tall order. The entire system is entrenched with corrupt control. This has been the case for Many years and that doesn't unwind with an election.
It starts with an election. Unfortunately, people are way too tribal, and just keep voting their team into office, no matter what misdeeds they learn of.
the “fair share!”
To paraphrase Milton Friedman, "it's only ever the other guy who isn't paying his fair share."