Seems safer to bet that capitalist society won't exist by the 2060s. It'll be either socialism or barbarism by then, and neither look too good for a Roth IRA account or whatever its called
If capitalism goes under, and you have a retirement, you lose some money.
If capitalism doesn't go under and you don't have a retirement, you live you last years in misery.
Capitalism doesn't go under, you had a retirement but you lose it because as we saw with COVID grandma should just die already if that is what it will take to save the economy.
There is no win here.
In a collapse scenario, wouldnt the money in a Roth IRA be worthless?
If you have to choose between arable land and a Roth IRA, I think the choice is pretty clear there.
...what's the choice? I'm legitimately thinking arable land if you can only take one of the two.
Introducing barbarism 2: ecological collapse edition
in my view, retirement is easily the most valuable investment possible.. it's not possible for everyone especially if you don't bring much home, but if you can, there is zero reason you shouldn't be.
i guess i should've worded my post better because i am personally taking the exact route you're suggesting. i just pray i picked the right location and that i have what it takes to transform this plot into something significant. cant be too hard, right?
i still have traditional retirement investments that i maintain but they take second place to cultivating a place for my family to survive the coming unrest.
It's a risk like any. If I had an employer match I'd probably say it's worth it, but I wouldn't sock my own money away in an account that it's a penalty to withdraw from without a match.
Even if the world ends in 40 years , savings might help with a medical emergency in 10 or 20 years.
Yeah Im not arguing not to save money in general, Im just thinking about retirement plans that you can't access til 65 or whatever, it's been a while since I learned this stuff. My job actually has a half decent retirement plan (thank the union) so im probably just let those automatic payments happen
You can withdraw early (with fees) if you think shit is hitting the fan.
Iirc most of those fees are taxes, so if you leave the USA and don't come back you don't have to pay them
It can be complicated but that's a common hit, so yes. If you're bugging out you can also ignore the fees, since I think you get billed rather than them extracting it during the transaction.
Depends how much faith you have that economy wont totally crash before you can retire. I'm betting it will so I have some money saved but I'm putting as much as I can into durable material goods. Buy a decent vehicle, up grade your house if you're lucky enough to own one, get appliances that have 20-30 year warranties ect.
random question if anyone happens upon it... I’m 32 and my wife and I have a 401k that’s basically equivalent to the private school loan debt we still have (including early withdrawal fees). All of the “experts” talk about how dumb it is to withdraw early but it’s really tempting to think about being debt free. Any thoughts?
Can you be on an income-based repayment? Cause if so, there’s basically no way that holding onto the debt can fuck you over too bad, so I see no reason to rush to pay it off.
Personally, I’d like to die with my fuckin mountain of student loan debt, just because then those jerks don’t get the money. But I guess I gotta look into what they can legally loot off my corpse, I’m guessing it’s a lot and they take priority over whatever my will might say
Edit: holy shit, according to studentloans.gov, the debt’s discharged when you die. New life goal :comfy-cool:
Don’t ever pay student loan debts. Make them drag every last cent from your hands. Don’t make it easy for them.
And saving for retirement is stupid as hell. It’s a scam just like everything else in amerikkka.
Yes of course it is just like everything else in this grifter nation devouring itself like an ouroboros
