ATM9000 said:I bleed maroon said:Quote:
Sorry… but this post is equally as silly of a meme post as what Yukon I think is trying to say but nobody is hearing because he's doing it in an internet edgelord sort of way.
I am not remotely understanding what this means, but...
It appears that the rest of your post agrees with my "meme post" (?). My point is that there are exceptions where exceptional people both have the strength of conviction and single-minded focus to turn down a slam-dunk financial foundation to bet it all on following their passion. They also have to benefit from good or lucky timing and market conditions. The problem is that there are a lot more people who think they have "it", and pay throughout their lifetime for their failure. You don't get that foundational period back. It's called risk for a reason.
Just think of a 22-25 year old recent college graduate - how many of them have the life experience and drive to both have a great idea, and possess the relentless desire to see it through. I think I was quite generous in saying 99.9% of people don't.
Your post reads as if only people who want to be outright rich or outright grifters with big fantastical ideas are those who don't understand the value of a 401k.
All I'm saying is that there are degrees to it and there's LOADS of people who say they want to be their own boss or start even just a normal business one day (don't even have grand big ideas) when they are 22-25 but never are able to because they sock all their liquidity away in tax deferred retirement accounts as it is perceived as most optimal. As a result, they are kind of shooting themselves in the foot on their own long term aspirations.
This is why quite a few people see it as a trap… because at 22, when you put into that account for example, you are locking yourself out of your own money for like 37 years in most circumstances. You talk about great ideas and relentlessness and say 99.9% of people don't have it… but there's a HELL of a lot more than 1 out of 1000 people who have chosen to own their own business. It's not that grand of a thing… most people say they want to do it… but then do things antithetical to it… like put money in accounts you can't touch for year and years.
It's asinine at this point. If you think your "liquidity is locked away" in a 401(k), then you're simply ignorant. Just go through my post history, I've laid out every available option from SEP, to ladder, to loan, to back door, to even paying the penalty. You keep saying there's no free lunch: Uncle Sam is handing you one in the form of tax deferral to incentivize you to save.
Also, also, if you're ponying up your own equity into a business, good luck. If it were me, I'd keep personal and business separate and pursue series, loans, partnerships, etc.
