(01-04-2018, 03:19 PM)StroudCrowd1 Wrote:

(01-04-2018, 01:36 PM)HURRICANE!!! Wrote: Speaking of 401k, I actually hard coated our 401K investment from the 6/23/2016 Brexit Day and I do agree that ANYONE that has the sense to contribute 401k up to the company matching portion is getting very healthy off of the Dow.  Unfortunately, there are still some companies don't match and/or employees are still reluctant to see the value in contributing (tie up their cash) in such a manner.

A company not matching isn't an excuse to not save for retirement. That is the individuals fault.

I was simply combating TJBender's point that only rich people are benefiting from this market which is simply a big fat lie.

While I agree to a certain extent, there is much less incentive for Joey Smith to tie up 3% of his income per year in an account that he only gets penalized 10% if he wants to withdraw prior to age 59 and one-half.  If that were the case for me, I'd probably take my chances and trade freely on the stock exchange where I have full access to my investments without the risk of penalty if I want to cash out and invest elsewhere such as the housing market, etc.

... and yes, I agreed that it's not only the rich getting richer.  Although, the rich in my opinion are benefiting from the DOW to a greater monetary extent since they most likely are investing at a greater rate (e.g. the $150k/year employee who invests 3% of their salary into 401k is benefiting greater than the $75k/year employee investing 3% of their salary into 401k).  The good news for people that decided to hide their $875 savings under their mattress is that if the market crashes, they have nothing to lose.

---