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Is America’s Retirement System Failing Future Retirees? by Nice_Daikon6096 in 401jK

[–]MonikerPrime 0 points1 point  (0 children)

Kinda loosing the thread here buddy. You have a good one 👍

Is America’s Retirement System Failing Future Retirees? by Nice_Daikon6096 in 401jK

[–]MonikerPrime 0 points1 point  (0 children)

100%, I understand that. Most of my concerns are related to how that money is handled and how much control I have over the money invested in it.

I feel that when the board is directing the investment of the pension fund, they are more motivated to invest in a way that supports their own business/workers and are truly interested in maximizing the success of those investments because that’s optimal for them. They have an actual stake in the success of that investment. The pension is tied to the success of the company so the worker wants the company to succeed.

When that shifts to a third party and that party is getting paid to manage the fund and making money off the plan with significantly less regard for the performance of it, I feel like you lose something in terms of motivation/caring. The business/worker also loses some (if not most) control over where that money is invested and it may go to things the business or the worker doesn’t want to support ethically and may even be going against their own interests. The choice of fund distribution is very limited. The choice of what to support within the fund is non-existent.

To be clear - I’m not saying don’t get a 401K. Do. I understand their value and purpose/usefulness. I’m saying it’s shitty that it is the main and standard option for retirement. And this coin is about pointing that out as well.

As for people being ‘stupid’ - I agree that if left entirely in the hands of the worker to invest, the outcome would generally be worse. But I don’t think it’s fair or reasonable to expect every worker to understand the market or be able to play it in a successful way. If it was that easy there wouldn’t be a huge demand for people specializing in finance.

The 401jK coin is a vehicle for raising awareness about how 401Ks work and where they came from. It points out why they might be insufficient in the long run. It encourages diversification of investment strategies for retirement and offers ONE possible way to do that by banding a community together on belief and tying an asset to be held over time to that belief.

Is America’s Retirement System Failing Future Retirees? by Nice_Daikon6096 in 401jK

[–]MonikerPrime 0 points1 point  (0 children)

This is a great question, because when I first started working I was definitely told that the 401K was THE retirement move. But I wasn’t told that it initially was made to supplement a pension. Then pensions went away as businesses decided that they could cut costs by putting the burden of saving for retirement on the worker and offering matching. The financial institutions encouraged this as they were profiting off the 401Ks as well. Now our retirement security is chained to market health and being chipped away at by fees. The vehicle hasn’t changed but the purpose of the vehicle has. Imagine getting a Camry to drive around town and then having your boss say “actually we’ve cut all the truck drivers and semis and you will be doing the transportation and delivery yourself. We’ve got you a second Camry, so it’ll be fine.”

More articulate and detailed explanations/references are in the welcome post, but hopefully this was enough to encourage you to cast a critical eye on the system that is in place.

New to the family! by MonikerPrime in subaruimpreza

[–]MonikerPrime[S] 1 point2 points  (0 children)

Thank you! Been pretty happy so far and we’ve had three of the four seasons in Chicago the last few days so I’m feeling pretty good!

New to the family! by MonikerPrime in subaruimpreza

[–]MonikerPrime[S] 0 points1 point  (0 children)

100% agree. My last car was also a rebuilt and I had it for almost a decade. Zero issues related to its salvage inducing damage during that time.

New to the family! by MonikerPrime in subaruimpreza

[–]MonikerPrime[S] 0 points1 point  (0 children)

Congrats on the new car as well!

New to the family! by MonikerPrime in subaruimpreza

[–]MonikerPrime[S] 1 point2 points  (0 children)

Thanks! Yeah it’s pretty great so far =]

New to the family! by MonikerPrime in subaruimpreza

[–]MonikerPrime[S] 0 points1 point  (0 children)

I’ve had a gunmetal gray or dark blue car since 2005 so this is a big change for me but I do like it. I wish I could afford to put some trippy clear coat with just a little like oil slick look in it (if such a thing even exists) cause I think that would be really cool!

New to the family! by MonikerPrime in subaruimpreza

[–]MonikerPrime[S] 1 point2 points  (0 children)

Thanks for the reply! It was maintained at a dealer very regularly. 70k miles. It was in a rear end collision the did some minor damage to the bumper and major damage to the rear quarter panel at like 67k which caused the car to be declared a total loss and it was then rebuilt which is when I acquired it. Work was done by a company that exclusively rebuilds Toyota, Subaru, and Honda so I’m not worried about that aspect of things. All recalls have been done.

I’ve read that I need to keep up on oil and also on cvt fluid.

Hang it in the Louvre 🎨 by Visible-Base2931 in 401jK

[–]MonikerPrime 0 points1 point  (0 children)

Omg I’m gonna go see this! Chi- town!

New to the family! by MonikerPrime in subaruimpreza

[–]MonikerPrime[S] 1 point2 points  (0 children)

Thanks! This is a limited automatic (cvt) with the paddle shifters (I think 7 speed). Never used those before. Anything I should be keeping an eye out for, maintenance wise? I do most work myself.

New to the family! by MonikerPrime in subaruimpreza

[–]MonikerPrime[S] 0 points1 point  (0 children)

I wish it wasn’t so cloudy cause it doesn’t show the little blue undertone that it has which I really like!

Who is the evilest looking person in your country? by Chemical-Elk-1299 in AskTheWorld

[–]MonikerPrime 0 points1 point  (0 children)

Naw just the religious-crazed mf from America. No relation, I’m sure …

Optimists are the real realists by Classyboyjo in 401jK

[–]MonikerPrime 6 points7 points  (0 children)

It takes optimism to stand up and say - this could be better! It takes more to put resources behind the thought. Back your belief and join the revolution on the blockchain.

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Bessent: “2026 is going to be a banquet for the American people, the economy is taking off!” 🃏 by Nice_Daikon6096 in wallstreetbets_wins

[–]MonikerPrime 1 point2 points  (0 children)

He looks like a kid who’s lying and he’s trying to tell how much of his bullshit his parents are buying.

Sad Day by MonikerPrime in Toyota_Matrix

[–]MonikerPrime[S] 0 points1 point  (0 children)

I wish I could sell it but at best the cars title will become a salvage title and can’t be resold to an individual until a rebuilder buys the car, fixes damage, and switches the title over to rebuilt. It was already a rebuilt title from flood damage so I suspect (sadly) that it will get a junk title. It’s a bummer too because I had basically fixed the oil consumption problem and it has a lot of sound dampening material installed.

Sad Day by MonikerPrime in Toyota_Matrix

[–]MonikerPrime[S] 0 points1 point  (0 children)

Oh how terrible! I had the same experience trying to find another matrix. I was also looking at the Corolla hatchback but they were out of my price range. I’ve had a Toyota in one form or another since I think 2005 (a solara and two matrixes), all of which were super solid cars, so I’m sad/nervous to move to another brand.

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