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Why does he pay 3 percent? Serious question. I have rewards on my visa I use for my business. I’ve never paid a dime of interest on it. I spend thousands a year on it. Am I missing something that’s hidden somewhere? I’ve got a lot of cool shit with the rewards for free.You pay 3% for your 1% rewards.
Every merchant has to pay a the cc company a fee usually around %3 of the total and 10c per transaction. You pay more for the product because the merchants aren't eating that cost.
the seller has to cover the 2-5% cost of using a cc.... so you're technically paying more for the product...
Ok, never considered that. Thanks for educating me.
if they don't offer a cash discount, you are money ahead using the card. no interest is paid if it is paid off every month.
"Defined Benefit" = management isn't an issue, the payments are defined.It's because he doesn't know what a ponzi scheme is.
People are retarded, I can't believe anyone would argue in favor of a pension plan in 2024. I want to mismanage my retirement funds, not someone in a cubicle mismanage it for me!!
The fuck are you smoking? They gotta manage that shit to make enough money to pay out obligations.
fully agreed
yep. cash discount is great, but I might see it a couple times a year nowadays
It's also completely replaced traditional investment options. Savings accounts, CDs, etc are all pretty fucking worthless these days. Have a 401K? Oops, that's also tied to the giant ponzi scheme. So now the only real way for average people to invest their money is to gamble with it on a literal ponzi scheme and hope they're not on the shit end of it.
How is a 401k a Ponzi scheme?
Personally I'd rather pay the tax now knowing the tax rate and use a ROTH IRA than a 401K not having any idea what the tax rate will be upon retirement.
sure, but Roth's also have limits....
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dunno man, doesn't debt servicing make for a lot of inflation when rates are high?
Or real estate speculation, but that's driven by the same printers' whims.
if you're putting away a bunch that pays dividends or whatever that's the way to do it too, since you'll probably be in a higher tax bracket later in life from that passive income
Of course it's not, the stated goal is 2% a year of inflation for a "healthy economy". Source - the feds ass.
So doesn't 401K's. And if you're married, you can both max the Roth. I'd rather pay the tax now and none later.
Agree. I do both, plus in-plan conversions, plus stuff outside, etc.
I'm not talking about the "normal" 2%. I'm talking about the 6-10% year over year.
Yes. They are squeezing everyone for every penny they can. Once interest rates have come down, companies will raise prices to meet demand.
I didn't say it is a Ponzi scheme, I just said it's tied to one in that they're generally tied to the stock market.
"""Progress""" for whom?
it's funny how interest rates are naturally set by a society's time preference and any attempts to subvert the natural laws of economics are predictably met with failure
yep, I mix both with teh fear of future tax brackets, but also knowing I'm making more now than I can see myself spending a year in retirement.
The Enter key will pop you out of a quote. This will make it look like you typed the message after a quote, not how you are quoting me, calling you a fag.
That's not how most 401(k) plans work, you are thinking of an ESOP.
