Just cashed out the rest of my 401K to gamble bigger

[marcojuiceman]

yea right the Heat Win buy and resell items in your local area or online like giant Wal Mart does more profitable start buying cheap with http://marcowholesale.com and increase your investment like Wal Mart

[Hoja Verdes]

That's what our shitty government wants people to think.............


More reason to abandon one's 401k

No-brainer here folks.........

Great article in Time magazine a year ago about 401k being a huge scam pulled on the American people. The problem being the fees and expenses you pay to mutual funds. It's basically the equivalent of paying -110 juice with a local over a lifetime of betting vs paying -102 at matchbook.

[trixtrix]

Great article in Time magazine a year ago about 401k being a huge scam pulled on the American people. The problem being the fees and expenses you pay to mutual funds. It's basically the equivalent of paying -110 juice with a local over a lifetime of betting vs paying -102 at matchbook.

sounds like if there were any scams, it was on mutual funds themselves, if it's the article i'm thinking of that you're referring to it's actually about how even the most brilliant mutual fund managers cannot generally return more relative to the market, so you're better off just straight betting the index, so really you're just churning transaction fees, that doesn't mean it's a scam, just that you're better off managing the portfolio yourself b/c there's no convincing evidence that someone who is more qualified than you are going to get it right anyways, so you should avoid the fees and do it yourself.

even if as you said "mutual funds is a scam", that is not relevant to 401k's at all, unless you're under the mistaken belief that 401k= mutual funds, no amount small percentage of transaction fees can stand up to 100% employer match on PRETAX funds

[d2bets]

sounds like if there were any scams, it was on mutual funds themselves, if it's the article i'm thinking of that you're referring to it's actually about how even the most brilliant mutual fund managers cannot generally return more relative to the market, so you're better off just straight betting the index, so really you're just churning transaction fees, that doesn't mean it's a scam, just that you're better off managing the portfolio yourself b/c there's no convincing evidence that someone who is more qualified than you are going to get it right anyways, so you should avoid the fees and do it yourself.

even if as you said "mutual funds is a scam", that is not relevant to 401k's at all, unless you're under the mistaken belief that 401k= mutual funds, no amount small percentage of transaction fees can stand up to 100% employer match on PRETAX funds

Right. That's like a 100% deposit bonus with no rollover requirement.

[TheGambler]

would never, ever, ever consider dipping into any kind of savings to place a sports wager

[Hoja Verdes]

trixtrix: what percentage of the American public has their 401k tied up in mutual funds they don't know much about, and certainly don't understand the fee structure? I'd say greater than 80%. So while 401k does not = mutual funds necessarily...for the vast majority of participants, it does. And in hindsight, those people would have been much better off with a different investment vehicle over the last 20 yrs. They've essentially broken even at best and made mutual fund companies rich in the process.

So again, its the difference between two people with the same 5000-4500 record over a lifetime of bets, but one has been paying -110 juice the whole time while the other has been paying -102.

[wtf]

Another one of the many internet clowns that never loses, has a big cok and fuks lots of hot runway models.

sharp post

[Grits n' Gravy]

Another one of the many internet clowns that never loses, has a big cok and fuks lots of hot runway models.

Nope. Pick plenty of losers. Am black, so the big dick is a given and in the dark even someone as ugly as your mother can be a runway model. Try harder you jobless sponge.

[Grits n' Gravy]

Great article in Time magazine a year ago about 401k being a huge scam pulled on the American people. The problem being the fees and expenses you pay to mutual funds. It's basically the equivalent of paying -110 juice with a local over a lifetime of betting vs paying -102 at matchbook.

That was an interesting read. A lot of great points in it. The problem with not having some kind of managed retirement plan is the average person can't manage money.

[d2bets]

If you need to dip into 401k to gamble then you're probably not that good at gambling in the first place. Just fund your gambling by winning gambling. Shouldn't take that long if you're any good.

[trixtrix]

trixtrix: what percentage of the American public has their 401k tied up in mutual funds they don't know much about, and certainly don't understand the fee structure? I'd say greater than 80%. So while 401k does not = mutual funds necessarily...for the vast majority of participants, it does. And in hindsight, those people would have been much better off with a different investment vehicle over the last 20 yrs. They've essentially broken even at best and made mutual fund companies rich in the process.

So again, its the difference between two people with the same 5000-4500 record over a lifetime of bets, but one has been paying -110 juice the whole time while the other has been paying -102.

Have you considered the effect of employer match and pretax impact in regards to 401k?

Sure it'd be stupid to bet into -110 lines when -102 discounted lines are available. But the effect of pretax and match makes it equivalent of receiving a perpetual 200+% dep bonus to bet into -110 lines, doesn't that make the proposition seem a little better?

[MarlinsFan2212]

BOL to you.

[UntilTheNDofTimE]

Since this thread the SnP 500 even with the recent sell off, had returned 72% with Dividends reinvested. I hear Emily is a millionaire now though.

[jjgold]

lol love these fantasy threads

[Sam Odom]

Getting a 0.60% return on my fixed investment plus Obama is doing his best to destroy the country. Fuk that shit I'll take the 10% hit now because I got a felling these coksuckers will end up taxing the living shit out of it later.

Who says I'm going to live to 59.5 anyways?

Good Luck

[daneblazer]

Did he win

[Bostongambler]

I miss her so much.

[Smoke]

Stop

[jjgold]

This didn't end well like most of the stories

[Itsamazing777]

Give us the scoop, Coach

[SpeedPro]

Sounds like a good plan!

[Bostongambler]

What could possibly go wrong.

[unde0087]

Nothing bad ever happens when you decide to use your 401k for gamlbing.

[grease lightnin]

I seem to remember Haines making claims of bets north of a million...nobody who bets that much has to whack a 401k

[MUHerd37]

Spent it all on soup

[Bostongambler]

Spent it all on soup

Hahahaha