Apparently one of my coworkers does nothing with his retirement account other than buying Tesla. This is not as crazy as it seems, we have other retirement income guaranteed… but still. Cant argue with his results though damn he’s been doing it for years and years
Except the ecosystem isn’t watches and apps.
Its the total domination of energy creation and storage. And all transportation.
I’m surprised they allow individual stonks in the retirement account.
I mean he has to be worth eight figures by now .
When this crashes someone remind me to ask for the TR on this guy losing his mind in real time. I hope you don’t like him as a person. I’m assuming it’s a him because taking a risk this reckless is basically the most stereotypically male thing imaginable.
My 401k does, I figured out how to do it when I switched everything to a 3x S&P ETF. But you can buy anything, just like a brokerage.
That’s dumb. People are too stupid to have that kind of awesome power with their nest egg.
It’s not that bad, there’s a bunch of hoops you have to jump through. Really the only people who would bother are degenerates and investing experts.
He would be fine long term, but yeah not a great idea obv.
Given his specific situation, it’s really not that reckless. He has a guaranteed retirement already, this is just extra.
Fair enough I guess. He’s already made a lot of money, he should go find something new to believe in.
The true believers are nut jobs though. The sober, reality-based case for Tesla’s valuation is:
- They have a better-than-Apple position in EVs right now.
- There’s a good chance that many markets will outlaw or severely disadvantage ICEs, and people will have to buy EVs.
If Tesla is able to build some kind of defensible moat around (1) through self-driving or branding or technology and then (2) happens, then of course it will be an immensely valuable business. Cars are a huge industry.
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I can trade stocks in my SIMPLE administered by Fidelity, in addition to my various IRA accounts at Vanguard.
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I think in most employer sponsored plan like 401ks the company can be sued if they fail to give the employees “good” investment options. They’re supposed to have like an investment committee that approves funds and employee education etc. Letting your employees gamble on individual securities would inevitably get a company in hot water in a plan where the employer has any kind of fiduciary obligation to members.
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My 401ks have always been company stonk, a bunch of stonk funds, one bond fund, maybe one blended fund, and cash. That’s it.
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Flexibility of US retirement accounts is one thing I envy coming from our Australian system. I can choose ‘high growth’, ‘high yield’ etc options but the mix of equities/bonds etc within those I can’t choose (or even find information on readily). Of course we have mandatory contributions of at least 9.5% (as a government worker I get an extra 17.4% of my salary towards my retirement account).
Uh, I don’t want to hear about any jealousy when you get that much extra contributed. Jesus.
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Is there a cap on that or is it 17.4% of whatever you’re paid, no matter how much?
Capped at $25k/year. So with the mimimum contribution rate of 9.5% (government elects to pay extra) people can earn up to $200k before contributions are capped.
Door Dash is going public and they are going to try for a value of $25 billion plus.
The company has never turned a profit and has no realistic path to doing so.
This is 90’s dot com era level insanity.
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