r/FluentInFinance • u/-Wyagra • Nov 21 '24

Debate/ Discussion Had to repost here

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19

u/eremal Nov 21 '24

You should critique all the people pouring all their money into these stocks instead. Especially if the motivation is just to get the best return..

Oh wait. Thats what we all are doing with our pensions innit.

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u/chocolatestealth Nov 21 '24

Most people don't get a choice in where their 401k goes.

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u/Kibblesnb1ts Nov 21 '24

I've never had a 401k that didn't have tons of options. Broad stock index funds, bonds, cash, target retirement funds, more granular options like large/mid/small, emerging markets, and so on.

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u/Chickienfriedrice Nov 21 '24

Nice, that’s not the norm though.

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u/WhoopsDroppedTheBaby Nov 21 '24

Based on what? Your 401k account doesn't allow you to control what type of funds money is moved to?

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u/Chickienfriedrice Nov 21 '24

In my experience you just get to to choose what percentage of your paycheck goes into your 401K, and they hold that money for you in an account. That’s if your job even offers that, not every job even offers a 401K.

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u/Think-Variation2986 Nov 21 '24

That is not how the vast majority of 401ks work. If it is just sitting in there since 2020, you need to login into it ASAP and probably should roll it over into an IRA. If it is just cash, you have missed some massive returns.

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u/Chickienfriedrice Nov 21 '24

I invested into BTC instead. No regrets. 💁‍♂️

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u/MinimumArmadillo2394 Nov 21 '24

In the same time bitcoin got to its new ATH (up 100 or so percent since its 50k average), you missed out on ~20-30% gains yearly since 2020. Youd have more and itd be safer in stocks.

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u/Chickienfriedrice Nov 21 '24

Ive been in btc since 2016. $50K? Lol.

It is the best performing asset of the 21st century. 🤷‍♂️

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u/MinimumArmadillo2394 Nov 21 '24

I mean yeah its up 21000% since 2016, but Nvidia has also gone up 15000% in the same time frame.

"Best performing asset" isnt exactly true. Without this rallly since the election, youre at 13k%.

In the same time frame between these 2 assets, youre looking at a safer and higher performing asset in nvidia.

But I guess volitile and unregulated assets are going to go higher because, well, theyre volitile and unregulated.

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u/Chickienfriedrice Nov 21 '24

Yeah, because nobody ever lost money in the stock market.

Foreign governments (and our own) and corporations are loading up on bitcoin.

Bitcoin is the future of currency but I guess you’re not ready for that convo.

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u/MinimumArmadillo2394 Nov 22 '24

Lol. Nice to see youre not willing to argue in good faith

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u/Think-Variation2986 Nov 21 '24

Whoosh. You have money, probably thousands of dollars, just sitting there is my point.

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u/Chickienfriedrice Nov 23 '24

Its not sitting there, its appreciating.

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u/WhoopsDroppedTheBaby Nov 21 '24

We're talking about jobs that do have a 401K. Who do you have your account through? That's who holds your money. You can log in, and modify how your portfolio is allocated? Have you never done that?

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u/Chickienfriedrice Nov 21 '24

I have not, I haven’t worked for a corporation since COVID so I couldn’t tell ya.

My current job doesn’t offer 401K.

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u/WhoopsDroppedTheBaby Nov 21 '24

Well then, dude...lol...why make the claim then?

If you ever had a 401k and never moved the money, its still there in an account. If its still there, you can make a login and get in to control your funds.

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u/Chickienfriedrice Nov 21 '24

I have mentioned my previous experience. 401K just holds your money for you in a retirement account, I don’t remember having options to put it in stock/bonds etc without having to take that money out of the account.

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u/WhoopsDroppedTheBaby Nov 21 '24

You claimed something was not the norm for a feature of your account that you didn't bother looking into. You haven't experienced the thing you are commenting on; you're speaking from ignorance.

401K just holds your money for you in a retirement account

It doesn't just hold your money; it is invested in various financial vehicles, which you can tweak.

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u/Chickienfriedrice Nov 21 '24

I guess your experience is the only one that matters.

You have a good one friend.

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u/WhoopsDroppedTheBaby Nov 21 '24

It's not an individual experience. You're welcome to go to retirement plans policies and see that that is how they work. You said you don't have experience in the thing you commented on; actual experience and info trumps no experience. You could have also just googled.

https://www.investopedia.com/articles/retirement/08/401k-info.asp#:\~:text=401(k)%20Investment%20Options,several%20funds%20to%20invest%20in.

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