1432 The Biden administration has quietly finalized a rule allowing employers to funnel workers’ 401(K) funds into investments that support “woke” causes such as climate change or diversity issues. (twitter.com) posted 115 days ago by icehole3 115 days ago by icehole3 +1433 / -1 70 comments share 70 comments share save hide report block hide replies
MAGA pedes need to work for MAGA companies.
Good thing those MAGA companies can't get bank loans, can't advertise, can't recruit, can't be successful unless they toe the line.
The whole system is rigged
Communism/totalitarianism/WEF is here... Live simple and unplugged from any of the woke funded HORSESHIT.
Jokes on them, considering the increasing inflation and impending market crash I already pilfered my 401k, paid off all my debts, and bought gold and silver. Then I lost all my guns and the metals in a boating accident.
Good man. The mermaids are now armed to take care of the undersea tyrants.
You too? That happened to me as well. So many boating accidents.
Same. House, cars, and cc paid for. As long as I have 600 bucks flowing a month, I can pay daily living crap. Boating accident and I lost 42 defend from tyranny poppers.
Only way around it is if millions of us quit, take a pay cut, and come together to start small businesses where our skills align. Might have to self fund and get conservatives investing, but if it's done in masses.. new/alternative platforms will take off and the monopolies will struggle unless they change their ways. Banking would be the biggest challenge, but doable if enough people take the risk
Or you can run your business on cash. Takes longer but you are more resilient. Plan on 4 years minimum to get traction.
I’m actually actively thinking about doing this. I’m thinking about putting a group of experts in my industry together and starting our own consulting firm.
then we make our own system
Gab found a way. Others must follow that path.
And where can one find these MAGA companies?
Red states mostly.
We have to build them. I've heard Gab.com has a job board.
If your company offers a 401k there's a good chance they're not MAGA in the first place.
I read the article. It looks like they are telling companies to include ESG fund options. I didnt see anything in here about requiring it, or allowing employers to swap employee investments. Everbody should be selecting their own 401k funds anyway instead of blindly selecting something
The list of funds available through my employer’s 401k plan includes few non-ESG options, as it’s run by Blackrock. Ourr options seem to get narrower. I hope you have better options in your 401k.
My options are good right now. I just invest in the basic small cap/med cap/large cap index funds. If my company didn't have those I would probably only take the match and just do my own investing on the side
This. Take the match and then max out a roth IRA for you and one for your spouse every year.
This is the way. At least get the employer match, otherwise you’re leaving money on the table.
You can ask your employer to add more funds with better options. A lot of them will just do it without any push-back.
You most likely can change your 401k brokerage or do a roll over to another 401k brokerage every so often to get a better selection of funds.
Came here to ask this very question. I’m still free to move my investments wherever I want, and I don’t see that changing.
True, but watch woke employers make the ESG crap the default investment. There are a lot of employees who don’t look at their 401Ks and accept the default.
Yeah I can see that happening. Most of my coworkers never even change their 401K. They just take the default contribution and default funds
Exactly. That’s how they’re going to do it. Down with ESG.
Someone kick-start the revolution before we drown in this administration's shit.
why would anyone let their employer invest their 401k for them? every place I've ever worked the past 30 years I was able to select my finds and trade between them as I saw fit.
Not everybody is in the know with this stuff and not everybody has the time to learn.
inb4 everybody has the time
inb44 they need to quit being lazy
inb444 they need to quit being dumb
You can't just flippantly dismiss the cause of the mess we're in, which is the abdication of personal responsibility to "somebody else".
they don't. it's FAKE NEWS
Allowing? You mean incentivizing and compelling. They’re trying to save their globalist ESG grift from the backlash.
I identify as a tropical storm. How's that for you? Climate change and gender all at once. Blew your mind didn't it pede? Now all your 401k belong to me.
Withdraw and divest. Starve the beast.
401k's are all going to be garbage in a year anyway.
Going to be? They pretty much already are.
A considerable portion of my life was wasted building my 401k. I started managing my own money a few years ago and tripled up already doing basic call selling and wheel strategy. I'm now only playing with my profits so I can't even lose.
401k is garbage. Look at your annual fees and compare your rate of return to inflation.
truth right here. I member when Trump was in office and mine was flying up... holy shit I hate 99.9% of the people in DC. I try not to look at it now, lowered my contributions to just the match, and wish I'd just taken the tax hit and gotten everything out - probably would have lost less to these fuckwads and been able to get gold/silver or just a bunch of ammo/guns which will have value.
I keep telling people stop supporting these collective funded get rich schemes it has been used to drain our wealth and enrich our enemies but people especially boomers and their my pension my retirement bs not understanding whatever they are promise was worthless if your country implodes and the currency is devalued.
Some people don't have a choice it's mandatory company policy that 4% or whatever comes put of your pay to fund the 401, because you're paying into the pool that those about to retire pull from. You don't have to contribute more but they won't let you not contribute
Sounds like a socialist union
Where is that?
Is that a govt job?
Has to be. I've never seen anything like that before. We have 3% match, either you're in it at whatever you want or not
Massively misleading headline. Employers cannot change your 401k investments without your permission. All this does is allow fund managers to set the default funds to ESG funds. If you are not selecting your investment fund, you are already giving up control of where those funds go.
That's what I thought.
Most people are retarded and just let it default to whatever.
Let them go broke🤣🤣
You can always choose your 401K investments from a list. Does this mean the list gets replaced with garbage?
I pulled my entire 401k. Sorry not sorry.
This will go well.
The law needs to require that employees always have a right to roll their 401k money out to another account if they do stupid things like this.
Another problem is that many employee 401k plans are run by insurance companies, who often have fees 10X of those who have plans managed by others who do not have those fees.
Places like Vanguard are run as a member owned corporation, which makes them like a credit union, rather than a for profit bank.
The other issue is that managers should NOT be able to vote the shares under their management in a way OTHER than directed by the actual owners of the shares. In the case of Vanguard, that would be the members who have their money invested. This would eliminate the ESG issue.
Careful don't wanna mention vanguard to the info wars crowd.
They consider it an "evil" company and you will get a talkin' to.
Too much to losers BTFO
Knew this shit was coming too. You won't be allowed to not have your retirement funds not diverted to gay shit, while at the same time life becomes so expensive you won't be able to retire either way. Welcome to slavery.
Watch what’s in your 401K. Don’t let your employer default you into some ESG bullshit that is almost guaranteed to lose you money but funnel it to deviants and cultists.
Allowing the gubs to order your retirement was NEVER a good idea. Take the employer-matches, role them into gold, and have it shipped to your house, and then vault it in a secret location. Remove your wealth from grubby gibs among the gubs.
I used to think early in my life that the Supreme Court was there to protect the Constitution and to protect us all from draconian edicts by the government.
I have been wrong before. They are as useless as our Senate, House and Congress (of course, including the resident and the vice resident and their handpicked administration).
Taking your retirement and funneling it to democrats.
Anything government run will eventually go to trash. The government has minimal or no incentive to get things right, so it goes to incompetence and corruption.
GET A ROTH IRA PRIVATELY FOR MARKET INDEX FUNDS
It seems to add new "environmental" funds to the list of possible investments. It reverses a Trump decision that removed them. This is all so stupid. We should be able to invest whatever we choose in our 401k plans. This move just gives us slightly more freedom. Partisan fearmongering nonsense.
You don't have to have the people support you, you just take their support by threat and under penalty of imprisonment and death.
All hurt the bottom line.
invest to retire they say. then they steal all your money and they retire.
Jokes on them. I don't have a 401k.
Employees choose where they invest their 401K. I don't even have to waste my time reading the article to know it's FAKE NEWS.