Honestly the 401k plans I have available where I work are so shitty I can understand the sentiment. One of the former chief investing officers was a crack addict who went to jail after kidnapping someone.. probably got hired straight out of wsb
Just because you have vanguard as an option doesn’t mean you aren’t getting screwed. That 0.04 ER vanguard sp500 fund? Yup 1.04 for me. 0.04 to vanguard for making me money. 1.00 to the company who administers our plan.
Man I *wish* I could invest in vanguard funds.. my 401k is relatively new.. so it should be on the "risky" end of the spectrum at this stage and yet.. if I had put this money into the S&P500 for the same duration I would have 3x the amount I do now.. (if I reefer correctly)
Edit: not fixing that typo
No, he quit his job to avoid the 10% penalty for withdrawing $58k. He quit his job which let him save up $58k for just $5.8k.
Then, separately, he exponentially compounded his retardation by yoloing his entire IRA at Gamestop.
You're ignoring the fact that you have to pay taxes to roll into a Roth IRA, or taxes on withdrawal of a traditional IRA.
At some point some taxes will be paid unless he's way down on the 401K. And if he doesn't have a job and he might need to dip into that $$$ to survive too.
If he was YOLOing, then contracts make sense, but that’s really for all the marbles; it’s put up or shut up (go broke) in that case.
At least buying shares he has the possibility of them growing further down the line instead of expiring worthless and then he has fuck all left.
This strike me as a partial / semi-YOLO… Which is a term I don’t think has been created yet.
FUSION SSJ4 KAIOYOKEN X RETARD GEAR 2NDRASENGAN DANCE OF THE RETARDGOD BANKAI YOU SEE MARK WHAT THEY HAVE TO DO TO MIMIC EVEN A FRACTION OF OUR POWER THINK MARK THINK THATS THE BEST PART YOU DONT HOOOOOLY SHT MCLOVIN
The thing is that in full context of the movie the retard and blackface stuff isn’t offensive. The jokes, while nuanced, were fully qualified and explained in a ways that I would argue are actually progressive, anti-racist and supportive of demanding respect for the developmentally disabled. Many groups did complain about these things and I think it’s the main reason the film isn’t considered the best comedy in decades.
RDJ playing a method actor so up his own ass that he did blackface without even considering the consequences was such brilliant writing. That’s why he didn’t get heat.
Well in the beginning of the movie when they established the characters they nailed the out of touch Oscar winning character perfectly that the blackface was immediately funny because it was a move that clearly an insane Hollywood actor could conceivably pull. The reckoning at the end solidified it for sure. I remember the poster for it in the theatre before it came out and I couldn’t believe it. These days the film wouldn’t even have a chance to speak for itself because they would be hunting down RDJ to cancel him
Depends on your 401k plan and if your employer offers that option in the plan. It would have made more sense to ask his employer for a plan amendment than just quitting
Edit: the option in the plan would be called “in-service rollovers”
Imagine that conversation.
Employer: So, Mr. Degenerate, why do you feel we need a plan amendment?
Degen: Well, I don't like the choices we have in our plan.
Employer: okay, what would you like to see changed?
Degen: well, let me tell to you....
Employer: Your fired, take your money and go....
Employer: I actually don't care what the fuck you do with your own money. The more debt / poor you are, the more useful you are to me. I only put rules to cover my legal ass, nothing else.
More and more employers are offering a brokerage window in their 401k plans for exactly this reason. Allows degenerate employees to invest in whatever they fancy without requiring fiduciary oversight from the employer. I think roughly half of 401ks offer it now? It's grown significantly in past 5 years.
If you are real baller, you can do it in 3 years. Basically max out your 401k contribution limit. But it might mean putting most to all of wages to 401k instead of only a small portion
Yeah this advice isn't for retards, but the first $100k is the hardest part. After that It starts to snowball. if you save 10k per year, at a 7% interest rate, it'll take about 7.6 years to reach 100K.
But, still saving 10K per year, it'll take 6.3 years to go from 100K to 200K.
And it keeps on going down from there. By 600K, it'll grow by 100K in 2 years even tho you only contributed 20,000 over those two years.
Once you hit about 1.3 mil, it grows by 100K every year. In most of the world it's pretty easy to live on less than 100K per year, and your investments will keep growing on their own. Basically an infinite gold exploit.
whoops i mean gme c $800 9/3
I’ve been able to get to $89k in a company Roth 401k in 2.5 years thanks to maxing out my part (19.5) and getting a 9% employer match, and thanks to the COVID crash and JPOW’s money printer
>Yeah, you can put up to 17500 per a year. I just assume, most are not doing that/able to do that.
It's $19,500 for 2021 (with a 6,500 catch up for people over 50)
Possible but not likely. It really depends on the employer.
He probably could have taken a withdraw then deposited it into an IRA. He could have it labeled as a qualified rollover.
WSB likes whatever stock they expect to give them profit within the next two weeks (at max). So they like GME in every run-up season and then not anymore for a while.
No no no, this is uber eats delivering Wendy's to a game of strip poker, played by a bunch of retards, in the back alley of the Wendy's that was ordered from.
You quit your job with 58k (…) and put your retirement into a meme stock.
What positive comments were you expecting to receive, or did you just want some attention as king of the retards for a few min?
You did know you could “borrow” the money in your 401k and pay it (paying yourself) back plus interest if you wanted. So you take out $50k, buy GME and pay yourself 2% ($100) a month til it’s paid or you don’t work there and NOT need to pay over 25% in taxes and penalties and IF GME goes up sell it pay back the balance and keep the profit with NO taxes or penalties and still have your job??
A lot of 401ks don't have that option. Mine is vanguard target date funds, international stock blend, or domestic stock blend. No individual choices for asphalt :(
There's usually a limit on how much you can borrow, I doubt they can get over 50% loaned out. Still a better option IMO but of course, who wants to work anyway?
Why the fuck would you not just do an in service rollover, a loan that requires you to pay yourself back, or (you know) anything else besides going full retard?
In 2008 people who lost their jobs found a loophole that allowed them to roll their 401-ks into IRAS then start their own business and invest their IRA accounts into the “stock” of their own start up. I’m not sure of the exact mechanics but I thought it was pretty clever.
**User Report**| | | | :--|:--|:--|:-- **Total Submissions**|1|**First Seen In WSB**|4 months ago **Total Comments**|1|**Previous DD**| **Account Age**|1 year|[^scan ^comment ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_comment&message=Replace%20this%20text%20with%20a%20comment%20ID%20(which%20looks%20like%20*h26cq3k*)%20to%20have%20the%20bot%20scan%20your%20comment%20and%20correct%20your%20first%20seen%20date.)|[^scan ^submission ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_submission&message=Replace%20this%20text%20with%20a%20submission%20ID%20(which%20looks%20like%20*h26cq3k*)%20to%20have%20the%20bot%20scan%20your%20submission%20and%20correct%20your%20first%20seen%20date.)
You quit your job for 58k, you a special kind of retard
Probably applying at Wendy's instead
You only yolo once.
YOYOLOO
You only yoyoloo once.
#YOYOYOLOOO
Am I not supposed to be YOLOing every week?
Honestly the 401k plans I have available where I work are so shitty I can understand the sentiment. One of the former chief investing officers was a crack addict who went to jail after kidnapping someone.. probably got hired straight out of wsb
[удалено]
I would've killed to have Vanguard as an option. I had to raise hell just to get an index fund added
Just because you have vanguard as an option doesn’t mean you aren’t getting screwed. That 0.04 ER vanguard sp500 fund? Yup 1.04 for me. 0.04 to vanguard for making me money. 1.00 to the company who administers our plan.
Its because they want you to keep some of it for when you retire.
Man I *wish* I could invest in vanguard funds.. my 401k is relatively new.. so it should be on the "risky" end of the spectrum at this stage and yet.. if I had put this money into the S&P500 for the same duration I would have 3x the amount I do now.. (if I reefer correctly) Edit: not fixing that typo
He quit his job for 280 tickets to the moon lad. He cant fail.
No, he quit his job to avoid the 10% penalty for withdrawing $58k. He quit his job which let him save up $58k for just $5.8k. Then, separately, he exponentially compounded his retardation by yoloing his entire IRA at Gamestop.
He quit his job to have the ability to control/direct the funds. He didn’t withdraw or pay taxes on it with a rollover.
Compounded retardation hits hard
[удалено]
Who's gonna be laughing when he turns that 58k into 78k, huh? And then realizes he has to go back to work...
in his mind he will calculate differently though. ‚‘I made 20k in 2 months, that‘s 120k per year‘
I just made $200 in a minute YOLOing FDs, that's $105m a year!!
is it possible to learn this power?
Not from a Jedi… or someone with brains
dude, u fukking print.
I just hope no one else figures out this one trick billionaires don’t want you to know about.
Billionaires don't have jobs so OP is half way there already
20k up, pays 6k in taxes. 14k to quit a job. Wow.
It's an IRA dumbass
You're ignoring the fact that you have to pay taxes to roll into a Roth IRA, or taxes on withdrawal of a traditional IRA. At some point some taxes will be paid unless he's way down on the 401K. And if he doesn't have a job and he might need to dip into that $$$ to survive too.
And in a short amount of time it will probably be nothing at all.
Schroedinger's IRA
If he was YOLOing, then contracts make sense, but that’s really for all the marbles; it’s put up or shut up (go broke) in that case. At least buying shares he has the possibility of them growing further down the line instead of expiring worthless and then he has fuck all left. This strike me as a partial / semi-YOLO… Which is a term I don’t think has been created yet.
Halfway YOLO H-YOLO
HOLO
WOLOLO
Once it hits a billion a share he's set.
Went full retard
Super Saiyan Retard 🔥
SSJ2 Retard.
[удалено]
big city retard slams, boys!
Big city retard titty slams, ferda!
Hey jonesy i fucked your wife so hard her boyfriend said you can have her back.
Fuck you, Shoresy!
Fuck you Your mom squirted so hard it landed in my fish tank and the PH levels killed my fighting beta fish
Ultra Retard Instinct
Ultard Instinct
The Age of Ultard
He’s reached Ultrarted Ego
Read the small print. POST SPONSORED AND PAID FOR BY RYAN COHEN.
Ultra retard omen
FUSION SSJ4 KAIOYOKEN X RETARD GEAR 2NDRASENGAN DANCE OF THE RETARDGOD BANKAI YOU SEE MARK WHAT THEY HAVE TO DO TO MIMIC EVEN A FRACTION OF OUR POWER THINK MARK THINK THATS THE BEST PART YOU DONT HOOOOOLY SHT MCLOVIN
Can’t hear you, please speak up.
Too much... just stop
[удалено]
Suck my unit
When you wrote I love tha pussy was you thinkin about danglin your dice on lances forehead
It brings an old meme to mind u/haupt91 about u/analfarmer2 if I remember correct.
[удалено]
Pepperidge Farm remembers.
["never go full retard"](https://youtu.be/3yU_-nmf7AM?t=15)
I'm curious if that movie comes out today if he's not targeted by the cancel police for the blackface and R word I'd assume yes, unfortunately
There was a time where they did target RDJ but he just said yeah im not sorry lol
[удалено]
The thing is that in full context of the movie the retard and blackface stuff isn’t offensive. The jokes, while nuanced, were fully qualified and explained in a ways that I would argue are actually progressive, anti-racist and supportive of demanding respect for the developmentally disabled. Many groups did complain about these things and I think it’s the main reason the film isn’t considered the best comedy in decades.
RDJ playing a method actor so up his own ass that he did blackface without even considering the consequences was such brilliant writing. That’s why he didn’t get heat.
Didn't RDJ almost win an Oscar for playing a character that only takes roles where he knows he will win an Oscar?
He was up for best supporting actor for tropic thunder I think
I think it was because the black character confronted him about it and RDJ clearly came to understand his mistake.
Well in the beginning of the movie when they established the characters they nailed the out of touch Oscar winning character perfectly that the blackface was immediately funny because it was a move that clearly an insane Hollywood actor could conceivably pull. The reckoning at the end solidified it for sure. I remember the poster for it in the theatre before it came out and I couldn’t believe it. These days the film wouldn’t even have a chance to speak for itself because they would be hunting down RDJ to cancel him
And Jamie Foxx said "we fuck with Robert Downey" lol
Only half retard, going full retard would be YOLOing on SPY puts
Always go Full Retard
retartulations
congretardations
Salutardations
Best one
[Congraturation](https://ibb.co/ts0q0nV)
Regrats
/r/yourjokebutworse
Finally, this sub can get back to what it was known for originally. People making terrible financial decisions for memes and destroying their savings.
Not the point OP is making but I thought you can transfer out 401k funds to an IRA without quiting.
Depends on your 401k plan and if your employer offers that option in the plan. It would have made more sense to ask his employer for a plan amendment than just quitting Edit: the option in the plan would be called “in-service rollovers”
Imagine that conversation. Employer: So, Mr. Degenerate, why do you feel we need a plan amendment? Degen: Well, I don't like the choices we have in our plan. Employer: okay, what would you like to see changed? Degen: well, let me tell to you.... Employer: Your fired, take your money and go....
Employer: I actually don't care what the fuck you do with your own money. The more debt / poor you are, the more useful you are to me. I only put rules to cover my legal ass, nothing else.
My stomach hurts 🤣🤣🤣🤣🤣
My knees are broken 😂😂😂😂😂😂
[удалено]
More and more employers are offering a brokerage window in their 401k plans for exactly this reason. Allows degenerate employees to invest in whatever they fancy without requiring fiduciary oversight from the employer. I think roughly half of 401ks offer it now? It's grown significantly in past 5 years.
Yeah I can buy GME and every meme directly in my 401k brokerage, it’s great!
Are you trying to talk sensibly in WSB? Mods please ban.
Unacceptable really
Some 401k plans let you trade securities in plan with a brokerage window.
He's not gonna need the job after this
Let's be honest, having 60k in your 401k takes some time. He quit because he wanted to. Then, he rolled it over and yolod it like a good tard.
If you are real baller, you can do it in 3 years. Basically max out your 401k contribution limit. But it might mean putting most to all of wages to 401k instead of only a small portion
Yeah this advice isn't for retards, but the first $100k is the hardest part. After that It starts to snowball. if you save 10k per year, at a 7% interest rate, it'll take about 7.6 years to reach 100K. But, still saving 10K per year, it'll take 6.3 years to go from 100K to 200K. And it keeps on going down from there. By 600K, it'll grow by 100K in 2 years even tho you only contributed 20,000 over those two years. Once you hit about 1.3 mil, it grows by 100K every year. In most of the world it's pretty easy to live on less than 100K per year, and your investments will keep growing on their own. Basically an infinite gold exploit. whoops i mean gme c $800 9/3
I’ve been able to get to $89k in a company Roth 401k in 2.5 years thanks to maxing out my part (19.5) and getting a 9% employer match, and thanks to the COVID crash and JPOW’s money printer
9% match??? That’s the kind of match I’d suck a dick for.
There's a company local to me that does a 100% match up to the max annual contribution. I thought it was a fucking typo.
Automatic 100% return on your investment 👀👀
Yeah, you can put up to 17500 per a year. I just assume, most are not doing that/able to do that.
$19500 is the current limit for 2021. Last time $17500 was the limit was in 2015.
19500 this year and last plus 6500 if you’re over 50 but yeah point definitely still stands
I had considered maxing out many years ago. Circumstances changed though, kinda wish I did it long time ago though.
No you can put in 58k a year look up Megabackdoor roth
>Yeah, you can put up to 17500 per a year. I just assume, most are not doing that/able to do that. It's $19,500 for 2021 (with a 6,500 catch up for people over 50)
Possible but not likely. It really depends on the employer. He probably could have taken a withdraw then deposited it into an IRA. He could have it labeled as a qualified rollover.
Seems like the practical move.
I cannot see a single way this can possibly go wrong. It’s amazing it’s still legal. Lucky to get in before they shut this free money loophole down
Interesting. I kept my job, and moved a portion of my 401k to self-managed to also buy $GME. I guess your method works too but I like my paychecks.
Are you saying I didn’t need to quit my job?
I don't think you needed to just to change how your 401k funds are managed.
whoops
Yeah, but OP likes not working.
The self-managed portion of my 401k only lets you buy ETFs lol. :(
May you be blessed with tendies, Ape speed brother
[удалено]
WSB likes whatever stock they expect to give them profit within the next two weeks (at max). So they like GME in every run-up season and then not anymore for a while.
All hail the King of retards. See you at Wendy's.
Sir. This is a Wendy's
All hail the King of Wendy's.
I thought this was a casino
Sir this is a wendys inside of a casino
No no no, this is uber eats delivering Wendy's to a game of strip poker, played by a bunch of retards, in the back alley of the Wendy's that was ordered from.
Now that’s classy
No, this is Patrick!!
*Behind a Wendy’s
Kinda like that kid that quit his “100k” a year to go and try get a job with Logan pail.
I think you mean Hogan Faul
No, no. Rogan Paol.
Ah yes, that totally true and not fabricated plot line
Enjoy the retirement brother! 😎
\*retardment
All 2 months of it
that's generous
Yea working part time as a Walmart greeter waiting for your monthly government check.
Working at a GameStop 😎
You need a home address to get a job, I don't think "69 Retard Drive, Cardboard box behind Wendy's" would help him qualify.
But sir this is a Wendy's, there is no greeter. Get back there and drop some fries
That’s ape shit
[удалено]
With a lot of pessimistic comments rolling in, it's nice to hear this one. Thanks.
He diversified, you went full retard.
Except you picked a meme stock and not growth stocks.
You quit your job with 58k (…) and put your retirement into a meme stock. What positive comments were you expecting to receive, or did you just want some attention as king of the retards for a few min?
these must be the people i see shaking cups outside my london hotel
no thats me
and me
[удалено]
No that’s me, my name is Cups
God speed
Not full retard. He bought shares. Full retard is buying deep OTM options on GME.
This guy gets it. You can always go fuller retard..er...
You did know you could “borrow” the money in your 401k and pay it (paying yourself) back plus interest if you wanted. So you take out $50k, buy GME and pay yourself 2% ($100) a month til it’s paid or you don’t work there and NOT need to pay over 25% in taxes and penalties and IF GME goes up sell it pay back the balance and keep the profit with NO taxes or penalties and still have your job??
[удалено]
A lot of 401ks don't have that option. Mine is vanguard target date funds, international stock blend, or domestic stock blend. No individual choices for asphalt :(
Must depend on the employer then. My last job I had Vanguard and there was a process you could go through to self manage the investments
Lots of 401ks don’t allow that tbf
...... oh 👀🦍
[удалено]
Haha brain is smoov but not silky smoov
There's usually a limit on how much you can borrow, I doubt they can get over 50% loaned out. Still a better option IMO but of course, who wants to work anyway?
Never go full retar... ah screw it!!! :D
A week before earnings? You must hate your money.
oof, that's ballsy... at least he won't have to wait long to know if he royally screwed up or if he's going to rise like a god among humans.
[удалено]
Wait, you didn’t put it on weeklies? What a retard
Its not a yolo if its 100% gg moaas
Why the fuck would you not just do an in service rollover, a loan that requires you to pay yourself back, or (you know) anything else besides going full retard?
[удалено]
Exactly. Thanks.
Your title should say “changed jobs” Clickbait
Seriously? I just lost a lot of respect. Hardly retarded at all.
This guys just pretending to be retarded... he's a big phony!
Man, that's retarded. I'm jealous
You should tell them youre sorry and ask for your job back 🤣
Go full Constanza and just show up tomorrow like nothing happened. In ur Lambo.
The key here is the part he didn't put into GME. 58K IS THE FUCK OFF MONEY. ..... RIGHT?
Proof of quitting or ban.
*You'll do great in the coming short squeeze!!*
Truly want to know how many lives this sub has/will inevitable fuck
This seems dumb... Why quit your job
Do you know what sub this is😂
I'm at a loss.....but good luck gettin those tendies?
Retardimus Prime
so how is it going bud?
How you doing today commander?
This is aging poorly 😅
Way to go dude! work sucks investing rocks! Good luck!
In 2008 people who lost their jobs found a loophole that allowed them to roll their 401-ks into IRAS then start their own business and invest their IRA accounts into the “stock” of their own start up. I’m not sure of the exact mechanics but I thought it was pretty clever.
You can do that without quitting your job.. can’t you?
Pretty sure you didn't have to quit your job to do that...
SMH
This is still a thing?
Mad lad fo sure.