Typical bullshit. This is wrapped up as if it is something good for employees. They dont want to save so force them to autoenrol in their 401K programs.
This just makes more money for the corrupt financial services industry. They get paid whether they make anyone money or not.
Maybe I will do a video about this. Would anyone like that?
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Here in Spain the gov wanted to do something similar, a public system for retirement (similar to 401k). The idea is to cut off some money from workers each month and save it on the public system.
Do you know where wanted the money to be invested? In buying Spanish debt, lol.
Stay away from socialism.
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In the US, the 401K program is private, not part of the government. Our Social Security system is the "fund" we use to publicly put away for retirement. Sadly, that is just bullshit since all the money goes in the general operating fund and is spent on whatever.
The 401K allows for private investment from a select menu of options. Ultimately, the fees end up eating most people's returns.
When I was working, I only put in enough to get the matching from my company. The rest went into my own accounts.
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We also have a public retirement pension, but this is a tax not an investment.
Now imagine the goverment creates a public 401k, they name it 666k. Then they decide for you where the money will be invested and they start buying debt.
You are right about fees, that’s why I only invest in low fees ETF (less than 0.30%).
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Of late I only invest in stocks.
There might be some tech ETF is jump on but since they are public with what they buy, I simply research the stocks and buy what I want, in the percentages I want.
No need for me to pay their fees.
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That's true and I was thinking of doing the same but I just wanted to add money and forget about everything else.
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Well just watch the funds. Depending upon the regulation of the countries you are dealing with, there are separate regs.
For US companies, they have to reveal what they buy and sell each quarter. Thus, if you buy one of the stock in their fund, just watch what the fund is doing and then follow that if you want.
Of course, be careful, funds often sell to realign their portfolios more so than a negative outlook on the stock.
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I hope I start investing in stocks later this year. It is something that I already intended to do but I have no "experience" here in Brazil, but as I already know cryptocurrencies and they are much more volatile and wild, I believe that I will learn quickly on the stock exchange.
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You did the right thing to do, but many do not follow this dilemma. Many prefer third parties to control their hard-earned money.
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It's because of 1. Fear and 2. Lack of time and 3. Lack of knowledge , people are lazy to handle their own money .
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Without a doubt. They simply take the shortcut spending their time on whatever bs then focus upon.
When I see the hours people spend on Facebook and yet they still have no clue about investing and markets, it is baffling.
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It is definitely scary. I recently asked a question to a group that is from university time and wanted to know who of them spend time on Twitter ... nobody said they use this platform but ...
One said he was "addicted to Instagram" and didn't want to have another addiction.
Well, imagine if he was here dedicating his "addiction" and still being able to be rewarded for it? But unfortunately people are too blind and prefer to stay in the Matrix.
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True this is so true. People often ask me , how can you live without insta or FB , I mean they are living in their own world.
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True. I always disliked FB and Twitter to be honest , I used to follow some political parties pages and there was ton of crap over there and always people fighting for nothing. It made me delete my account on FB.
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That sums up the vast majority of humanity well lol
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And that is why I believe vast majority of humanity doesn't see success in their lives , right ?
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You are quite right, my friend. Unfortunately it is quite true.
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Many will not take the time to learn to control their own money. Thus they get lazy and leave it to people who are only interested in churning their fees and commissions.
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And then they complain that their money is useless ... complicated to understand it ...
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They have something similar here. The ROI is terrible (for the workers, that is).
I would definitely watch a video on this subject.
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Lol. I think it would be a good video and it's their way of forcing money into the stock market. They need to force people's hand so they can prop it up. No offense but the stock market doesn't match the economy and I think it needs to be brought back down to reality. But I don't mind as much since I am making money since its irrational.
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The market isnt the economy, it is the flow of capital. If we see more money keep flowing in, such as if it gets flushed out of bonds, we could see a continued run.
People expect the market to show some sanity and it rarely does. It is really an epicenter of manic behavior.
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Yea I think so as well. I like the market going up because it's easy to make money because all you gotta do is buy the dip. Of course you have to pick the decent stocks and not crappy stocks.
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Buy the dip always works well long term in very solid projects. You might lose some more money in the short term, falling daggers, but it usually pays off in the end.
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Yea and if your in the traditional stock market, sell some covered calls. Easier to not lose money so long as you invest in solid companies. You may lose your shares but the premium helps when the chart stays stagnant.
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Here we have something called as Provident Fund ( Employee provident fund - it is everywhere right ? ) which acts as a way for saving for people's future .
How much ever you put into the fund , the govt matches the same.
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That is good. If you can get a match that is always a great way to go....as long as they dont lose all the money.
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They take it and put it into long-term investments , so far so good but there is a limit for it too . I mean I just can't deposit 100k $ because I earn it , it is only like 6% of the earnings or so , that's the limit.
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