William Mitchell2 said:Man, you’re lecturing people on things you clearly don't understand.
You want to stash it under a mattress? Or just let it rot in a savings account? ...
With inflation sitting at 3-5%, if it climbs any higher, they'll bleed your account dry long before you ever reach whatever "dream amount" you're aiming for in 20, 30, or 40 years.
You'll have plenty in the bank $100 but you'll only be able to afford a single bag of pepper with it.
He's got a point. It's his money, and he should be allowed to spend it however he damn well pleases. Making these types of funds mandatory is just foolish. If he wants to buy an old steam locomotive and burn fuel with dollars or euros, let him.
Mandatory funds shouldn't exist. If someone wants to save, they should do it their own way. If they don't want to, then they can deal with the consequences later. For those who physically can't save, that's a different issue entirely, which is why Social Security exists.
I've been playing in stocks, commodities, and gold for a long time. I was even messing around with shipping futures before that became a trendy pastime for Americans. Personally, I prefer making my own calls. If I blow it all, so be it. At least I'll know exactly how it happened and who to blame. As long as the game was interesting. 😉