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Retirement accounts are a scam. It’s important for people to learn this, and stop contributing to them. It’s not a “benefit” to give all your money to corrupt Wall Street shit heads…
I opened this expecting to ask where to put the money instead, fully expecting to be told to buy gold.
I'm glad to see that conversation has already happened.
There are far better commodities to invest in. Gold is probably one of the worst. But good luck with that
I didn’t say anything about gold. You just wanted to straw man that.
I mean, it's not a straw man. it's genuinely a weak investment. But no, other people exist and they had that conversation before you or I could her here.
A tax-advantaged account that (typically) grows faster than inflation and includes additional compensation that my employer would not otherwise give me is a scam? So where should I be putting my money instead?
It grows faster until they use it as a bailout for rich fucks. You should make your own investments; it’s your money and you should have full control of it. Any system that doesn’t allow that is wall steet holding your money hostage, and a scam.
On gold
Gold has lost nearly 12% of its value in the last six months. There's no reason to think that trend will spontaneously turn around.
Not entirely a scam in theory. Though we are currently in a period of unprecedented corruption that is so complicated and complete that it might as well be. Even 5 years ago, I would have attributed certain actions to protect the market as an attempt to protect everyone. The systems in place are such that if a ~~stock~~ company fails, it creates far-reaching market upsets across industries worldwide. Essentially, if something fails, it takes everyone down with them.
The fix would be the state taking control of those industries to allow them to stabilize. Unfortunately, most state actors are also tied economically to those systems. That is, they're corrupt as fuck and don't care about people, but their own money and status.
So retirement funds and entitlements weren't entirely a scam, but they are mostly so now. I doubt I will see a dime of mine if I don't use it soon for school, expating, or buying a house. I certainly won't see it when I retire.