Video Yujin is a one-day instructor for retirement pensions 👩🏻‍🏫 (1 Viewer)

[Moguri]

It's not as great as the last pension related video, but still always great to learn more about it



@Dive

 

[Selfmate]

Dear Hana
I have a confession to make
With a drop of a retirement account
It’s just a play

Watch me, don't touch me
Love me, don't hurt me
Watch me, don't touch me
make my account, accendio

 

[fdonce]

I'm not sure how effective this is....
I feel people will retirement accounts aren't going to listen to a young idol on financial advice

 

[Selfmate]

I'm not sure how effective this is....
I feel people will retirement accounts aren't going to listen to a young idol on financial advice

why not like I'm not familiar with retirement plans in SK but if it's anything like Australia (we have something called superannuation) and I think the US has what 401Ks???

that those retirement accounts exist for basically everybody that works and they need to park their money somewhere and what better way to capture the youngsters choosing a retirement bank than through yujin

 

[fdonce]

why not like I'm not familiar with retirement plans in SK but if it's anything like Australia (we have something called superannuation) and I think the US has what 401Ks???

that those retirement accounts exist for basically everybody that works and they need to park their money somewhere and what better way to capture the youngsters choosing a retirement bank than through yujin

The people in US is very bad at saving money. We're a credit nation, you wont believe how much of the US population is in debt. Most kids here don't put money into 401k until they're much into their adult years.

 

[Selfmate]

The people in US is very bad at saving money. We're a credit nation, you wont believe how much of the US population is in debt. Most kids here don't put money into 401k until they're much into their adult years.

interesting

down under we have compulsory payments made by one's employer - it doesn't matter if one is working min wage or multi-millionaire one's employer must pay (currently 11.5%) of your pre tax income as "superanuation" as a form of retirement account

 

[fdonce]

interesting

down under we have compulsory payments made by one's employer - it doesn't matter if one is working min wage or multi-millionaire one's employer must pay (currently 11.5%) of your pre tax income as "superanuation" as a form of retirement account

Oh we have that too..its called Social Security...401k is optional and most young ppl wont opt into it until much later from what I've seen with most the younger ppl i've worked with.

Social Security is also expected to run out before most ppl can benefit...so Iono how the US will fix this lol

 

[Selfmate]

Oh we have that too..its called Social Security...401k is optional and most young ppl wont opt into it until much later from what I've seen with most the younger ppl i've worked with.

Social Security is also expected to run out before most ppl can benefit...so Iono how the US will fix this lol

so 401K is different from social security???
like once one retires does that claim social security then?

 

[fdonce]

so 401K is different from social security???
like once one retires does that claim social security then?

Yes, if there's any money left by then.

Society security is essentially a retirement tax...you pay it your entire life but that money isn't really yours...you pay it so that the previous generation can retire. So say you put 300k in there your entire life, that 300k doesn't belong to you...if you die before retirement then you woulda just paid that for nothing and get no benefit (though I think a portion of the benefit goes to your spouse if you die early but it's still not entitled to you) the previous generation is making use of that 300k to retire and you're hoping the younger generation is paying enough for you when it's your time to retire.

The issue is people are living longer and longer and and previous generation hasn't isn't putting enough in to outpace life expectancy. The money also isn't put against any markets so it can't grow in any way, so you're also fighting inflation. Expert estimate is that social security will run out by 2033, the US has to figure out how to keep this scam alive for the future generations. You don't have a choice but to pay social security in each paycheck.

401k is optional, the money you put in is yours. Most company will even match a portion of it if you work for them, most match up to 4%. So if you put in 4% of your paycheck, the company matches the 4% to put into your account, its essentially the easiest 100% return on investment. 401k is invested into the market which means your account also grows over time. You also name beneficiaries so if you die, your 401k goes to somebody. It's your money.

 

[Selfmate]

Yes, if there's any money left by then.

Society security is essentially a retirement tax...you pay it your entire life but that money isn't really yours...you pay it so that the previous generation can retire. So say you put 300k in there your entire life, that 300k doesn't belong to you...if you die before retirement then you woulda just paid that for nothing and get no benefit (though I think a portion of the benefit goes to your spouse if you die early but it's still not entitled to you) the previous generation is making use of that 300k to retire and you're hoping the younger generation is paying enough for you when it's your time to retire.

The issue is people are living longer and longer and and previous generation hasn't isn't putting enough in to outpace life expectancy. The money also isn't put against any markets so it can't grow in any way, so you're also fighting inflation. Expert estimate is that social security will run out by 2033, the US has to figure out how to keep this scam alive for the future generations. You don't have a choice but to pay social security in each paycheck.

401k is optional, the money you put in is yours. Most company will even match a portion of it if you work for them, most match up to 4%. So if you put in 4% of your paycheck, the company matches the 4% to put into your account, its essentially the easiest 100% return on investment. 401k is invested into the market which means your account also grows over time. You also name beneficiaries so if you die, your 401k goes to somebody. It's your money.

oh...for us that's just taxes lol

yeah our superanution is like your 401K but ours in compulsory (for employers) but one can still contribute to it as a individual

 

[Moguri]

Yujin and Hana Bank must be very happy to see you guys discuss this retriment stuff

 

[Selfmate]

Yujin and Hana Bank must be very happy to see you guys discuss this retriment stuff

I mean the only korean banks I know about come from various idols cfs

like Hana and Woori