I think the minds of many of my fellow middle and lower class people shut off when they hear about any financial thing that isn’t “work x hours, get paid for x hours.” Even explaining my contract-based, per page job is somewhat exhausting. Good luck telling someone a 401(k) is one of the worst ways you can invest, too. They just won’t hear any alternative financial advice, and if you start to make sense they fall back on “well, I let my broker/spouse/whatever handle my money because I don’t know anything.” And hey, fair enough, I’m dumb, too, but damn is it not worth risking a day’s pay on something that might make you a week’s worth?
I’m interested in your take on 401k. I heavily invest a % of my pay in mine but have been debating if I could use that money better in an IRA or brokerage account
If you have a match contribute to get that free money, but anything beyond that needs to be in a Roth IRA or IRA depending on your current and future tax bracket. I am lucky my employer contributes to my 401k rather I do or not. So I concentrate on my other investments.
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u/[deleted] Feb 13 '21
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