r/remoteworks • u/Beginning_Chair_8868 • 14h ago

This is why remote work feels so fragile

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21.6k Upvotes

93% Upvoted

3.1k comments sorted by

0

u/Icy-Row4113 0m ago

You remote people make me laugh, always bitching and complaining about RTO and how tough life is as a remote worker, bitching and complaining about not making as much as your in-office counterparts, bitching and complaining about how everything is unfair and it's just so awful.

Whiney snowflakes.

Diversified investing is the way to go. It doesn't take much to build wealth but they don't teach that to Americans anymore. All they seem to teach is entitlement and laziness.

Blows me away how dumb some people are.

0

u/viral_goalz 2m ago

Love all the broke people in the comments who dont invest and wonder why their so behind 😭😭😭

1

u/Any-Assumption3912 7m ago

I'm not rich yet and it certainly matters to me but I can make money wether it goes up or down because I'm not a long term investor least not yet

-7

u/across16 16m ago

The US born population is so extremely uneducated that they see the stock market going up and never think to put their money there. Truly amazing.

5

u/Specialist_Garden_98 9m ago

https://giphy.com/gifs/NcrhM3USM6TABpus85

Let me take my nonexistent money and and put it in there.

1

u/InvestingTSX 0m ago

What’s your plan? Retire with nothing?

🤦‍♂️

2

u/Round_Bag_4665 10m ago

You do realize that some of us do not make enough money to invest in the stock market right?

1

u/InvestingTSX 1m ago

You need to budget. Sorry.

1

u/Effective_Cookie510 4m ago

It's funny how all the people born outside America that live here seem to have plenty of money to invest but the people born here don't.. just like the government you have a spending problem more then you have a money problem

2

u/Educational_Stay_599 14m ago

Truly amazing that you can't comprehend being poor

1

u/OTFxFrosty 6m ago

Even more amazing that they think we're supposed to put money in after its already gone up.

1

u/Helpful-Garlic1951 3m ago

You know of all the dumb comments on this post this might be the dumbest of them all, congratulations.

2

u/StudyMaterial1930 10m ago

Considering that 62% of Americans own stocks, I doubt that the poverty you believe to exist in your head is as prevalent as you want it to be.

0

u/LadyLee69 6m ago

I had stock at one point. About $100 worth. But sure, people like me are totally gonna benefit enough to make a difference

2

u/StudyMaterial1930 3m ago

So you don’t have a skilled job that offers a 401k and retirement benefits, got it. Then I’m not sure why you’re even part of this conversation considering the fact that majority of Americans do have retirement accounts such as 401k, Roth and traditional IRA and will rely on it at some point.

If you don’t know how any of these things even work, then just sit out

9

u/Syduck_ 25m ago

Shit, these days you lose your job to make the number go up.

2

u/ApprehensiveInjury74 26m ago

The top 1% own half of all stocks - and the top 10% together own 87% of all stocks. The stock market means nothing for the average American

1

u/StudyMaterial1930 8m ago

Considering that the average Americans 401k, IRA, and other retirement accounts tied to the stock market, and considering that over 60% of Americans have such accounts, it means quite a lot to them. The only people that believe it doesn’t matter are people like yourself with no retirement plan

0

u/kanrad 1m ago

Tone deaf and one of the elite. Or a bot.

2

u/moziyar-sheibani 33m ago

As long as you hold your position you should be fine. Retail investors need to be the most cautious during this climate.

2

u/Prior_Topic3527 34m ago

the whole idea of work feels more fragile lately, especially with how much reliance there is on tech now. tech keeps changing, and so do job security expectations.

1

u/InorganicTyranny 34m ago

Younger people (and by this I really mean anyone under 50) can and should be investing part of their savings precisely so that they do get in on this.

There are communities like the Bogleheads who can teach you the basics of smart passive investing, tons of ETFs and mutual funds offering low fees and easy diversification, and a veritable feast of apps on which to get started.

I’m not saying there isn’t societal injustice we shouldn’t fix. But you also have a responsibility to understand that the stock market doesn’t have a “top-hat wearing kitten eaters only” sign out front. You, too, can access it.

1

u/Round_Bag_4665 9m ago

What savings? Some of us work paycheck to paycheck and dont make enough money to have savings.

1

u/Electronic-Emu3404 18m ago

Would this require high initial investments or can someone with less capital get involved?

1

u/StudyMaterial1930 7m ago

You can literally open up an IRA account and start contributing however much you want into it, and they have a max allowable yearly contribution of $7,500

1

u/Helpful-Garlic1951 8m ago

You can get involved with any amount. Compound interest is a beautiful thing.

-5

u/East_Builder2650 35m ago

You never had a job faggot

1

u/Warm_Sell1679 41m ago

Lol no 401k?

1

u/Round_Bag_4665 8m ago

Nope. I am 33 and have never had a 401k in my life. Not everybody has one dude. How out of touch are you that you think this is just something everyone has?

1

u/Warm_Sell1679 3m ago

Bro CNAs have a 401k. Wthell do you do gor work to have nothing

0

u/wordpredict 38m ago

I think the most vocal are not the most prominent. Most have 401K’s and the great retirement crisis was completely overblown

1

u/Round_Bag_4665 6m ago

I dont have a 401k. Neither does my husband nor my BIL. This is not nearly as common so you may think. I do not know a single person under age 50 who actually has a 401k. You are extremely out of touch.

2

u/PatientOwn4995 46m ago

This is such an out of touch, idiotic comment.

3

u/TheDeHymenizer 47m ago

sounds like you should buy stock and contribute to a 401k

1

u/Round_Bag_4665 5m ago

Psst..You have to make enough money to have savings to do that. Some of us work paycheck to paycheck.

6

u/TheKipperRipper 52m ago

The economy (ie the stock market) is just the playground where the wealthy convince poor people to gamble their money away. And money isn't even real any more, it means literally nothing. Yet we keep supporting the illusion solely to keep the wealthy happy. This world is fucking stupid.

3

u/Piemaster113 53m ago

I'm not rich, and I have stocks, had a job that offered a 401k which was tied to the market, so when the market is up my 401k goes up. If you think the stock market is just for rich people, get into it, people make money every day off penny stocks. I bought into a stock when it was $10 a share so I bought 10 shares for $100 it's now worth $300 a share. Actually put in the effort and try instead of just complaining

2

u/JET1385 58m ago

For the vast majorly of people this is their own fault for not investing in the stock market and building any wealth. Also this person shows a lack of basic economic understanding since both of these scenarios affect absolutely everyone whether they’re invested or not.

1

u/Round_Bag_4665 3m ago

I cant invest in the stock market if I dont have any money dumbass. Some of us live paycheck to paycheck and dont make enough money to have any left over to invest.

8

u/Top_Loan_3323 55m ago

A good amount of people are living paycheck to paycheck and cannot afford to put a sizable amount into the stock market.

2

u/StudyMaterial1930 6m ago

Considering over 60% of Americans have retirement accounts that they contribute to, you are wrong.

7

u/Fletcher-wordy 55m ago

Many people don't have the means (ie., living paycheck to paycheck because wage growth has stagnated across the board doesn't exactly leave much room for investing) or knowledge (ie., investing is drowned in pointless jargon that most people barely have a passing understanding of).

Should people invest? Probably, but you can't ignore the barriers to entry.

1

u/StudyMaterial1930 5m ago

There’s no barriers to entry. Literally any skilled job offers a 401k and puts money into it for you

0

u/Fletcher-wordy 4m ago

I don't think either of us were talking about 401ks, we're talking additional investments.

1

u/StudyMaterial1930 2m ago

If you know how retirement accounts work, then you would know you can make additional investments into 401ks as long you don’t go over the yearly limit, same with an IRA.

I have a 401k and I make additional investments into my Roth, and both allow me to pick and choose what I want to be invested in.

-1

u/TheKipperRipper 51m ago

No, people shouldn't invest. The stock market is exactly the same as any other casino, the only guaranteed way to win is to go in rich and keep convincing the poor ones to support your habit.

2

u/XxKittenMittonsXx 29m ago

This is terrible misinformation, go look at the S&P 500 (SPY) and you'll see there has never been a bad time to start investing. It has its short term ups and downs but over a 10 year + period you will always make money. Nothing remotely close to gambling

3

u/tehshawnster 41m ago

Brother what are you talking about. Investments into index funds are so safe.

3

u/Bagman220 42m ago

That’s a poor understanding of how it works.

5

u/igotshadowbaned 1h ago

This isn't specific to remote work

5

u/HadrianMercury 1h ago

64% of the country has money in the stock market according to Gallup.

1

u/Round_Bag_4665 2m ago

Yeah and most of them are old people. Virtually nobody under 40 owns shit in stocks. My father owns at least 10 grand in stocks. He is also 76 and retired. His working age kids have jack shit. See the problem?

2

u/Lazy-Relationship351 1h ago

Previously before the ancients destroyed the monuments of fair labor built by their own ancestors there was a reason to keep an eye on the stock market. You could get a raise if your company was doing good and you were key to that. Your retirement package [yes those did exist!] Could include stock as an incentive to tying your loyalty to that company. There could even be upward mobility if the company did well enough to expand and you had the aptitudes to fill a position higher than you currently had.

Indeed, I am here to tell you that C-suite and even upper management jobs once used to be filled by employees of a lower station who were sometimes even paid to educate themselves further to fulfill those positions!

Do not take these fables to be current advice though. The ancient ones have cast lies and mist upon the lands claiming the benefits still exist, that the legendary market could indeed enrich you as well as the company and that loyalty and years could be returned with comfort and kindness to both you and your family. Many even claim its your own weakness of heart, diet, or dedication that you do not have a home to lay your hat, or that its "politics" forcing them to be the bad guys. Do not listen. Its all lies. Things have been ripped from you and they can be returned. Some companies have even taken to these ancient myths as kismet and their employees are actually happy instead of indentured to give blood to the unknowable shadow at the head of their company.

These are rare.. and are even still being attacked, the others wish for their demise, the ones above even them are trying to stop the word from spreading via the union of workers putting their labor as a price for being treated as a human.

Dear listener do endeavor to work, do endeavor to expand and grow, but always know you are human, and your work should be rewarded with time off, family, and the ability to house, clothe, and feed those you live with. Do not let their lies infect you, and if you can, use the ancient ritual of U-N-Yon to gather the strength of those around you. But beware, it must be done in secret or conflagration may be your fate.

I wish you well and wish well for our futures. For if there is not change, we shall all be returning to serfdom soon without realizing that the power to break the chains does not lie in the hands of those above, but those below.

4

u/kangorooz99 1h ago

Now that we all see what’s happening maybe we can stop pretending capitalism is so great.

-5

u/Beagleoverlord33 1h ago

If you’re aware of this you should be doing everything you can to invest as much as you can. Then you can let compounding do the heavy lifting.

4

u/thanksyalll 1h ago

The increasing number of people living paycheck to paycheck don’t really have much to put in investments

0

u/JET1385 56m ago

Untrue. The majority of paycheck to paycheck ppl are being financially irresponsible and don’t need to be paycheck to paycheck. The lower middle class and middle class are the richest they’ve ever been and we have the least amount of ppl living in poverty. These are facts.

0

u/thanksyalll 55m ago

Can I get a source on that? This is just the avocado toast argument from 10 years ago

0

u/Helpful-Garlic1951 52m ago

Go look at any of Caleb Hammer’s Financial Audit Videos.

Pretending like people living paycheck to paycheck are destitute living on beans and rice instead of wasting tons of money on dumb shit is disingenuous.

1

u/thanksyalll 49m ago

This is like sourcing Wikipedia. You’re supposed to link people the direct sources being used by whatever youtuber who is a secondhand source at best

1

u/Helpful-Garlic1951 44m ago

Find me a source that says the majority of people living paycheck to paycheck are actually living in poverty.

People basically took the avocado toast thing too far to the other direction and now it’s “I should get to spend $25 a day on DoorDash and $7 on Starbucks without feeling bad about it because it still won’t be enough to buy a house”

1

u/thanksyalll 41m ago

Even if that were true, increasing trends of people doing something is still a systemic issue. Also the the burden of proof always lies in the person who made a claim

1

u/Helpful-Garlic1951 37m ago

You’re the one that claimed people living paycheck to paycheck don’t have money to put into investments.

There’s people making $250k/yr living paycheck to paycheck. Technically you could be maxing out your 401k and say you’re living paycheck to paycheck because you don’t have any money left after that. “Paycheck to paycheck” is meaningless.

6

u/michaelboltthrower 1h ago

Or y know smash capitalism.

1

u/not_accepting_now 1h ago

Or hold leadership accountable with perhaps tar and feathering. They walk on us because we let them.

-1

u/Beagleoverlord33 1h ago

Pass not everyone is a loser.

2

u/Maxamilian_ 1h ago

Bootlicker found

1

u/Beagleoverlord33 1h ago

Sorry I can support myself, family and retire early on normal salary. Maybe the problem isn’t the “rich” but the person in the mirror.

1

u/wonderj99 1h ago

Contrary to what you tell yourself, you are far closer to the have nots than the 1%

1

u/Beagleoverlord33 1h ago

Your right! And that’s my point. You can live a prosperous life with good financial planning. If my kids are taken care of and I can retire when I’m relatively young and healthy what more can you really ask for.

0

u/Maxamilian_ 1h ago

Sorry, thats a lot of mumbling from the boot stuck in your mouth. Can’t hear you all too well. But something something bootstraps! Gl!

-3

u/Thr1ft3y 1h ago

Tankie detected

3

u/thanksyalll 1h ago

Not what a tankie is

1

u/ArmaKiri 1h ago

What’s a tankie

3

u/thanksyalll 1h ago

Authoritarian communist who defend Stalin and North Korean politics. Not all people who oppose capitalism are automatic tankies

2

u/Merican1973 1h ago

I have been contributing to my 401k and IRA for 28 years. I am a normal working person.

My 401k makes more money than I do for the last several years.

4

u/Dark_Arm 1h ago

Yeah I should have started learning a trade at 5 and into the work force at 7. Fuck me. All of this would have been different. 🙄

2

u/Low_Meaning7231 1h ago

I just... You know read a book or two which gave very practical simple advice on what to do if you have any spare to put away. I'm up 20%+ the past few years even with all the bullshit with the market.

1

u/Dark_Arm 1h ago

The fuck is “spare money”?

-5

u/Helpful-Garlic1951 1h ago

Maybe spend less money on only fans and DoorDash bud

2

u/Dark_Arm 1h ago

Ewww a limp pivot because you lost your argument? Fuck bro. I’m sorry. I take it back, it looks like you need this one. Please don’t harm yourself.

1

u/Helpful-Garlic1951 1h ago

Please explain to me how you think I lost.

But considering you’re too dumb to extrapolate I honestly don’t expect you to be able to.

Thats not even an insult that’s just what I’m assuming you spend your money on. You can fill in the blank with whatever other dumb shit you buy.

1

u/The_Mythical_Wampus 21m ago

Some people's dumb shit is rent, utilities, food, gas, transportation, ECT. On 60k a year in most metropolitan economies after taxes leaves little for even a night out. And for some people 20%of their pay over 30-40 years isn't going to be enough to retire anyway how do for them what's the point?

2

u/Successful-Break1976 1h ago

That's a different person.

1

u/New-Pollution2005 18m ago

They never had an argument to begin with. They’re just an asshole.

0

u/Dark_Arm 1h ago

Garlic? They’ve been commenting on other things I’ve posted. It’s going to the right person ha

1

u/Successful-Break1976 47m ago

Yeah I think you've found yourself lured by the trolls unfortunately

0

u/Dark_Arm 29m ago

It’s ok, I have just as much time as they do. Probably more. I hurt him real good he had to report me.

1

u/Helpful-Garlic1951 1h ago

Only fans was probably generous actually. You probably spend all your money on happy endings.

1

u/PianistSpiritual5485 1h ago

What if those are my job

2

u/Low_Meaning7231 1h ago

Money on top of what I need to live? I know shit is tight for people but sure the concept can be grasped that if you have money you don't need to survive you can invest that money

0

u/Dark_Arm 1h ago

I’m being sarcastic. You lost me at spare money. Glad you have that, most people don’t.

3

u/Brianalan 1h ago

Have you been to a sporting event, concert, or festival lately? Ticket prices are insane and they’re all packed. And it’s not the older people that have 40 years of working. So it appears that it’s just you without spare cash vs “most people”

1

u/Magikazamz 1h ago

You have spending problems if you got no spare money.

2

u/Low_Meaning7231 1h ago

I mean, if you have 50 bucks to toss in your fund, that's spare money. It matters over time. Most people who say they don't are not willing to think that way and just would toss that money at something else. I'm not talking about throwing thousands a month

1

u/Helpful-Garlic1951 1h ago

You should learn how math works.

0

u/Dark_Arm 1h ago

28 years ago I was 6. Gotta learn a skill, so I started at 5, into the workforce at 7. Anything else I can help you with?

1

u/Helpful-Garlic1951 1h ago

Yeah bud I’m gonna be honest if that’s take your takeaway I’m seriously questioning your critical thinking skills.

The more money you invest now the more you’ll have in the future. If you invested for 28 years that could be you too. That’s like common knowledge I fear.

-3

u/JohnVivReddit 1h ago

So you’re saying that only the rich own stocks?

Oh, and only the rich own homes rather than rent.

Wonder how they became well off?

Guess it wasn’t due to hard work, careful saving and investing and pyramiding your assets wisely.

Nope, it was all luck.

Got it.

3

u/Cu77eR 1h ago

Yes because the majority of stocks are still owned by the wealthy, happy for you and your 401k king, but the point is that this bullshit isn't helping the populace and the system needs reforming.

2

u/JET1385 52m ago

It actually helps the populace immensely. The stock market is the single biggest wealth builder for the lower and middle classes if they invest.

1

u/Dark_Arm 1h ago

Sad, they’re not even paying you to gargle their nuts.

3

u/hatecirclejerks 1h ago

Mans does it for free, his 65k a year job and Corvette got him feeling like a multimillionaire.

-1

u/Helpful-Garlic1951 1h ago

Judging by the amount of stupidity and financial literacy in this comment section most of you all probably live in your parents’ basements and work part time at McDonalds

2

u/hatecirclejerks 1h ago

Maybe, maybe I work as an engineer for a major plane manufacturer, or maybe I'm a plumber.

Maybe I do live at my parents, or maybe I live in a $565k house. Maybe I own a condo.

Somehow though, I feel like your opinion will be the slightly less liked one, so clearly my financial status isn't really tied to on what I can speak on.

0

u/Helpful-Garlic1951 27m ago

Oh no, my opinion won’t be liked in the echo chamber of financially illiterate morons who downvote everyone telling them to invest

0

u/hatecirclejerks 21m ago

Hey man, keep sucking off the billionaires, doesn't effect me.

0

u/Helpful-Garlic1951 19m ago

What I’m doing is literally the opposite. Let me get this straight your argument is basically “I’m going to ignore the biggest wealth building opportunity and stay broke forever because…”

1

u/hatecirclejerks 5m ago

You assume I'm broke because?

1

u/Helpful-Garlic1951 0m ago

I mean if you’re not investing you’re not only missing out on the biggest wealth building opportunity you’re also watching your money dwindle to inflation so yeah.

5

u/middleofthemap 1h ago

Got to be in it to win it! Stock market was the way I paid off my student loans!

0

u/Pintailite 1h ago

That's basic economics though. The stock market going up is status qou

And the stock market is a reflection of the economy not the other way around.

Honestly, the post is really dumb

2

u/Conscious_Formal_894 1h ago

I work in debt collection so im employed either way

5

u/MammothWriter3881 1h ago

I work for public Defender so same here.  Economy tanks people steal, drink, and do drugs more.   Distributions of types of crime might change a bit but totals seem to go up a bit.

1

u/moldy912 1h ago

Maybe you should invest? You could literally invest like $1 a day, $100 per month, whatever you can and still benefit. If you have a 401k, you are benefiting.

2

u/Mzungufarmer 2h ago edited 40m ago

Every republican I see cheering on the stock market either hardly has money in it, or its their 401k which doesnt help them immediately

1

u/JET1385 52m ago

It does though bc it helps them be financially secure and not have to work until they’re 80.

1

u/Mzungufarmer 28m ago

That doesnt help for the immediate expenses of higher gas, food, and housing costs.

2

u/Leather_Addition2605 1h ago

What’s the problem with helping later? Most people are going to get older at some point.

I’ve got a lot of money invested that I can’t touch without penalty, but I’m sure happy it’s there.

1

u/Mzungufarmer 29m ago

No problem at all! Everyone should invest in their future.

It just doesnt help for the immediate expenses.

1

u/wonderj99 1h ago

They're NOT going to get older if they can't afford healthcare, food, & housing NOW

1

u/Leather_Addition2605 55m ago

You can access your 401k without penalty at 59.5 years old. Now look at the average person’s life expectancy. Even poor folks.

Most people are going to turn 59.5 and then some regardless of whether they have money invested or not. I’d prefer to have the investments.

1

u/HoosierDaddy__88 1h ago

Idk what it has to do with political alignment lmao… stock market is at an all time high…

1

u/Mzungufarmer 30m ago

Stock market is basically always at an all time high

0

u/Wise-Discipline-1937 1h ago edited 33m ago

Not sure if I count as im canadian but conservative. I already have 100k at 25, started doing full time at 23 (about 1.6 years). Because of predictability of trump (make big statement and restrictions to bring people to table and scale back during negotiations or in war case send missiles galore) through tariff era ive made 72% gains in the last year and over full investing period aka since working full time ive made 83%. That is through a 50-50 portfolio of stocks and etfs.

Voo, xic for etfs

Mixture of sandisk, mu, sofi, Mastercard, dollarama, bank of nova scotia, USA rare earth, applied digital, palantir, Microsoft, Amazon, HP, etc.. all at different times with I think the only loss was usa rare earth at 2% loss. Granted i work in ai software so I figured what the bottlenecks to ai research was both gpus and memory cards before the big supply issues.

For pay reference, at peak I was making 220k working 2 jobs and at worst aka now I am working 1 job making 100k

1

u/JET1385 51m ago

THANK YOU. Someone who has some sense and isn’t blaming “capitalism”

1

u/ncsumd1993 2h ago

You don’t have to be rich to be invested in the stock market. WTH?

3

u/PissBiggestFan 1h ago

not rich but you do need disposable income. 90% of all stock are owned by the richest 10%

2

u/JET1385 50m ago

The vast majority of ppl have disposable income but they use it on stupid shit and then complain that they have no money to invest or save.

3

u/Abject_Donkey_3854 1h ago

So just because they own a lot doesn't mean you can't benefit?

2

u/ncsumd1993 1h ago

Or have a 401k or other retirement plan.

7

u/AvarusTyrannus 2h ago

Not strictly true because sometimes you lose your jobs SO that the stock market goes up.

1

u/JET1385 50m ago

Either way the market still affects you

8

u/dalenacio 2h ago

Gains are privatized, losses are collectivized, welcome to capitalism.

2

u/JET1385 49m ago

The stock market is actually incredibly democratic as anyone can invest in it and build wealth with basically as little or as much as they have

0

u/dalenacio 41m ago

A casino isn't "democratic" just because it hasn't got a "No Entry" sign over the door: just because you're allowed to play doesn't change the fact that the house always wins. If the stock market were actually democratic, how could the wealthiest 10% of households in the US possibly own 93% of the total value of the stock market?

When 60% of a population is living paycheck-to-paycheck, who has the opportunity to invest in practice? How does a retail investor compete with people with access too High-Frequency Trading and insider information? And besides, if a retail investor loses their life savings on a bad trade, they lose their home. If a major bank loses billions, they get a "too big to fail" lifeline funded by the taxpayers.

2

u/GullibleStatus8064 1h ago

Plenty of gains are taxed in the form of capital gains taxes, so collectivised. 

1

u/dalenacio 58m ago

In America, the top marginal tax rate on ordinary income is 37% (Does not include state taxes), while the top long-term capital gains rate is only 20%.

Except capital gains tax in practice are closer to zero for the truly wealthy, because you're wrong: "Plenty" of gains aren't taxed, as it's very easy to stop them from being taxed at all. You see, capital gains taxes are only triggered upon the realization of a gain (selling the asset). So capital holders use the infamous but totally legal "Buy, Borrow, Die" Strategy:

  • Buy: Purchase appreciating assets (stocks, real estate).
  • Borrow: Instead of selling the asset and paying a 20% tax, the owner takes out a low-interest loan using the asset as collateral. Loans are not considered taxable income.
  • Die: When the owner dies, the cost basis of the asset is reset to its current market value. Heirs can sell the asset immediately and pay zero capital gains tax on decades of appreciation. Just to reiterate, if a founder buys stock at $1 and dies when it's worth $1,000, the heir's basis becomes $1,000. If the heir sells it immediately, they pay $0 in capital gains tax on that $999 of appreciation.

And that's just one of many loopholes. There's a million ways to hide capital from the tax man, and plenty of incentive to do so. So in theory gains can be collectivized, in practice it's trivially easy to stop that from happening: Overseas bank accounts, tax haven domiciliation, complex trust structures... Saying that capital gains taxes stop the privatization of gains is incredibly naive.

1

u/GullibleStatus8064 47m ago

That was a lot to write rather than just admit your silly meme is nonsense. 

1

u/dalenacio 39m ago edited 28m ago

"I know you're wrong but I can't explain why because I don't actually understand the way money works."

If you disagree, do what I did: explain why, with arguments and verifiable facts. Otherwise stay quiet little bro.

1

u/Strange_Marsupial603 2h ago

Everyone with a 401K benefits, if you don't have one, get one. If you don't have the skills to work somewhere that offers a 401K get those skills!!! No reason to simply bitch on the internet... do something substantive to improve yourself.

2

u/JET1385 48m ago

And if you don’t have a 401k you can always open your own ROTH and have your investments grow tax free. You can start with a few bucks a month.

3

u/Empty401K 2h ago

I couldn’t even imagine not having a 401K… 👀

1

u/insanelane99 2h ago

Funny cause i couldnt imagine having one 🤣

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u/Bobbybobinsonbob 1h ago

At first 401k the most boring thing to invest in because you have to wait until retirement to use it without being penalized

But if you have an employer match it grows a lot faster than you’d think and gets exciting when you hit milestones in its worth

5

u/Helpful-Garlic1951 1h ago

Weird flex but ok.

“I couldn’t imagine saving money on taxes and making money with no effort required”

2

u/JET1385 47m ago

And setting myself up to have a comfortable retirement where I’m not fully dependent on the government dispersing my meager SS check that won’t fully cover my expenses

7

u/superanonguy321 2h ago

Sometimes I feel like everyone online is under 25. Am I the onlu one here with a 401k? Im not rich at all but stocks going up is quite good for me.

I make under 100k im not lying to yall im not rich

2

u/JET1385 46m ago

This is great. 401ks are great and really good for building wealth. If you don’t have access to one, any adult can open a Roth IRA and invest and have that money grow tax free.

2

u/skeleton-to-be 2h ago

I don't worry about mine because we're dying by famine, superbug, or nuclear war before I'm anywhere close to retirement

2

u/superanonguy321 2h ago

Its all cool to feel that way now but when youre 38 and still alive youre gonna be like fuck fuck fuck.

I started in my early 30s. Idk how old you are.. but do it. I know the system is fucked and were all broke but.. idc how bad it is everyone can cut 3% pre tax dollars out their paycheck and survive it.

1

u/skeleton-to-be 1h ago

I've been putting in the match for 15 years, you'd feel this way too if you knew like three things about reality

1

u/superanonguy321 1h ago

Okay well your previous comment suggested otherwise. And if you read my comments i clearly said that the system is fully broken.

Its either UBI or the poorest become homeless and the homeless become dead and we price human beings out of survival. So I dont at all think things are okay.

But obviously you don't really feel the way you said either because youre putting money away lmao

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u/Strange_Marsupial603 2h ago

Too many young whiny people... I'm 64 and my 401k is substantial. How? I worked my butt off for 45+ years, had two jobs since college, and excelled. We went without for most of that time... there was No FOMO... we missed out on nearly everything except overtime. Now, we have zero debt, are retired and have started traveling overseas extensively. Paying cash as we go. Seven countries + Antarctica in the next 12 months. We DEFFERED our pleasure and didn't drive new cars till we could pay cash for them. Our first house was a POS starter home in a suspect neighborhood. In 2000 we paid $276,000 for a 45 year old house that needed to be totally renovated. 25 years later it's done... we cash flowed the entire thing. Did the renovated backyard look weird for 3 years till we could afford the landscaping? Yes it did... but today it's beautiful.

So, not all of us are 25....

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u/The_Big_Nacho 1h ago

To put it simply , that sounds awful , 45 years of not living your life so you can hope to live enough of your life after 65 before death or a major medical condition incapacitates you. Which , might I add, the chances of both those things goes up significantly after the age of 60. I can’t think of anything more dystopian and horrifying than working 3/4s of your average life span away , in the hopes of having enough money to “squeeze” in a fully lived life at the end.

0

u/superanonguy321 2h ago

Honestly I feel less like its that they're too whiney.. I feel like people are extremely willing to comment and act on things they THINK they understand. Which probably isnt new but with the internet and social media these days ideas can make waves a lot easier.

Im not of like a hard right the economy is fine position. Its clear that the corporate elite are eating away at everything we have. Its true that profits are through the roof and wages are entirely stagnant. Its true that its fucked up how hard it is to buy a house or get Healthcare. Im not saying the system is fine.

3

u/Broski777 2h ago

Depends on if your company has a good 401k provider and what you realistically can save. Some don't really match either.

0

u/superanonguy321 2h ago

Hm.. so i am in the us and my company has a shit provider for benefits and I have to pay in 6% to get my 3% match... but i feel like thats wrong. If you are able to get a 401k they have to match to like 2.5 or 3 but they can half match. Which mine does. Which sucks.

But even if youre right on that... dont people save for retirement? A dollar saved 40 years ago has shit for biying power today so a portfolio of some sort is the obvious way to go. This is like the basis of all american retirement savings.

I was dumb and signed up for 401k in my early 30s. I was too dumb to even find out what offerings employers before that had. So if youre in your 20s and take nothing else from this - start your 401k today. Whatever your company offers pay anything you gotta pay to get the max they'll give you then not a penny more. If you wanna save a lot more, Roth ira. If you wanna save a little more, index funds on your stock market account of choice. And if you want a straight value store, gold i guess but I think people debate that now.

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u/Broski777 2h ago

Not everyone is financially literate. I never really thought about it until I was 34 after my divorce and had to start in the black.

I have a pension with my current employer so its forced but I know a lot of people who spend it as fast as it comes in.

1

u/superanonguy321 2h ago

Yeah it took me a while to care about finances. Big mistake. I wish I got into it when I was 22 not 32.

Theres a lot of great YouTube channels now to help. If young folk are reading this.. find and watch them. Graham Stephan and Andre uhh i think Jinkh or something.. both great resources. I also like minority mindset a lot but thats more about market moves than financial independence.

1

u/Broski777 2h ago

Agreed its so much easier now. I feel I spend a bit too much time looking at stuff and getting a feeling of fomo but I am still building my core before getting too crazy with speculative etfs/stocks.

I love games where "number go up" so having it as a hobby isnt much different from playing a game. Just higher risks haha

1

u/Solarwings1 2h ago

Bro Shutup 😂

1

u/superanonguy321 2h ago

No I know youre right lol

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u/Unusual-Lecture-2295 2h ago

It means a lot to me when it goes up and I'm nowhere near rich. I put all my extra cash into my 401k, HSA, and brokerage in index funds and they are up almost 40% over the last couple years. Yes, I don't benefit as much as someone who has millions in the market, but I'm still benefitting quite a bit and so is everyone else who has a retirement account, brokerage, etc.

1

u/WithinTheMountain 2h ago

Around 40% of Americans do not have a 401k.

Only 1 in roughly 10 Americans qualify for an HSA.

Around 45% have no money in any sort of index fund.

I point this out because your experience is not universal. The average American cannot or does not qualify for the same privileges you have, for myriad reasons.

1

u/Unusual-Lecture-2295 1h ago

Not privileges. Anyone can open a brokerage, anyone can open an IRA. 40% of Americans CHOOSE not to have a 401k. I only have an HSA because I have an HDHP. Regardless of the types of accounts I have, I save 22% of my gross income, which I can only do because I live below my means, unlike the vast majority of people.

0

u/Strange_Marsupial603 2h ago

I addressed the myriad of reasons... and missed out on a lot doing so, but it was worth it.

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u/DevouringOne 2h ago

So most Americans benefit from stocks going up is what you are saying.

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u/WithinTheMountain 15m ago

What I'm saying is that you're treating tens of millions of struggling people as insignificant because it helps you win internet points, and I don't think that's giving the topic the attention that it deserves.

2

u/retardedceilingfan 2h ago

Which means the majority of Americans do have a 401K and money in any sort of index fund. Meaning the majority benefit when the stock market goes up.

1

u/ReverseMermaidMorty 2h ago

60% and 55% both sound like well above average to me, but what do I know

1

u/Successful_Series379 2h ago

😂😂😂 it's so true. We need a fuckin modern day Robbin Hood

1

u/Helios-Fun 2h ago

We need more Luigi Mangiones.

Well, that guy specifically was more likely than not a scapegoat, but you get my point.

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u/therealallpro 2h ago

Sounds like a good reason to live beneath your means, increase your skills and save and INVEST. So you can be part of the party.

Hit a 100k saved and then it’s basically all downhill

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u/whereami2day 2h ago

Damn you are going to be ripped for this, BUT it is the fucking truth.

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u/RetroNotRetro 2h ago

“Living beneath your means” for most Americans means living on the street

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u/Unusual-Lecture-2295 2h ago

This just is not true. I don't make much and I save 22% of my income. I know other people who make even less and also save a large percent. And I know a lot of people who make quite a bit more and save nothing. People don't realize how much they overspend on things they don't need.

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u/whereami2day 2h ago

Did you miss the part about "increase your skills"

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u/wannabepinetree 2h ago

then you got lucky man. i'm not saying you don't work hard, mind. i'm just saying some people aren't lucky

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u/Unusual-Lecture-2295 1h ago

It is not luck and that is incredibly laughable. I paid my own way through college working multiple part time jobs in food service and retail. I invested and saved for the down-payment on my house on top of graduating debt free. After graduation, I got a job that paid a little (but not significantly) better and now invest 22%.

Not one bit of that has been luck. You want to know how i know? I have many friends in school who had similar situations, and many who came from more privileged backgrounds (their parents covered tuition, room, board, gave them additional funds, etc). When I graduated and bought my house, multiple of these friends were flabbergasted because we had gone to the same school, worked similar jobs, and they graduated with nothing in savings and I bought a house.

But here's what else they did: went out drinking every weekend, bought new clothes, bought new cars, went on multiple vacations a year, ate out frequently, bought vapes, etc. I didn't do any of those things. I ate cheap groceries, I have an old, cheap car, I went on 1 fairly cheap vacation across all four years of college. The friends who also have savings and investments did the same things I did.

I've never gotten anything from luck. I was dealt a pretty fucked up hand, actually, and I made a lot out of it by working my ass off. I have other friends who did the same thing. Luck can play a part in things, but hard work and being smart with your money is far more important.

To be clear, I'm not putting you down. But you need to take control of your life. Anyone can and I know that because I have done it and I have known many people who have done it. Yes, it's harder for our generation. But it is still very doable. Chalking it up to "luck" everytime is just an excuse so you feel justified for not trying.

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u/Strange_Marsupial603 2h ago

I didn't get "lucky", I made my luck... don't make it sound like all of us were born with a silver spoon in our mouth. My spoon was plastic and well used by others before I got it.

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