They’ll buy crypto with our 401ks then “bail-in” all bank deposits to cover the remaining losses. FDIC insurance will take over a decade if losses can even be recouped.
If you use their products, you agree to these terms.
I always thought it was stupid to entrust one’s retirement to a 401k, when the very basis of the economy is cracking at the seams and will eventually crumble to the ground. It’s building your future on a pillar of sand.
Of course, people rely on their 401ks as a retirement plan because the system is built around forcing that as their only option.
On the bright side, once it all crumbles and there’s nothing left for us peasants, while the executives make away on their golden parachutes, people will no longer have a reason not to tear the system down. Right now the reason it’s so hard to convince people to replace the system is because “What will that do to my 401k?”
Like, dude, you won’t need a 401k if we can successfully replace the system. That will take time though, of course. And whoever is at retirement age during the transition may be screwed for a while until we can get the new system in place.
That’s why people who want to tear the system down immediately and think about what comes next after (or not at all), while shaming people for not being onboard with that, are thoroughly deluded.
I agree with most of your points, but I don’t think it’s that black and white. That said, I don’t use a 401k because it isn’t the only option, so I still have a place to put money for retirement that I manage. I see it being similar to avoiding Amazon and voting with your wallet.
I mean yeah, if you have the investment know-how and the time to dedicate to that, you can use a self-managed retirement fund and potentially do better than you would with a 401k. But not everyone has the time or expertise to do that.
I don’t know if there are retirement accounts that solely invest in certified B-corps or with minimum ESG standards, but if so that might be an option. Those just tend not to grow as aggressively so people tend to overlook them.
They’ll buy crypto with our 401ks then “bail-in” all bank deposits to cover the remaining losses. FDIC insurance will take over a decade if losses can even be recouped.
If you use their products, you agree to these terms.
I always thought it was stupid to entrust one’s retirement to a 401k, when the very basis of the economy is cracking at the seams and will eventually crumble to the ground. It’s building your future on a pillar of sand.
Of course, people rely on their 401ks as a retirement plan because the system is built around forcing that as their only option.
On the bright side, once it all crumbles and there’s nothing left for us peasants, while the executives make away on their golden parachutes, people will no longer have a reason not to tear the system down. Right now the reason it’s so hard to convince people to replace the system is because “What will that do to my 401k?”
Like, dude, you won’t need a 401k if we can successfully replace the system. That will take time though, of course. And whoever is at retirement age during the transition may be screwed for a while until we can get the new system in place.
That’s why people who want to tear the system down immediately and think about what comes next after (or not at all), while shaming people for not being onboard with that, are thoroughly deluded.
I agree with most of your points, but I don’t think it’s that black and white. That said, I don’t use a 401k because it isn’t the only option, so I still have a place to put money for retirement that I manage. I see it being similar to avoiding Amazon and voting with your wallet.
I mean yeah, if you have the investment know-how and the time to dedicate to that, you can use a self-managed retirement fund and potentially do better than you would with a 401k. But not everyone has the time or expertise to do that.
I don’t know if there are retirement accounts that solely invest in certified B-corps or with minimum ESG standards, but if so that might be an option. Those just tend not to grow as aggressively so people tend to overlook them.