Just realized my friend thinks a 401k is a type of sports car

We were grabbing coffee in Austin and he said he was saving for a '401k' because it had great horsepower and a smooth ride. I had to explain it's a retirement account, not a Ford Mustang. How do people get this mixed up?

4 comments

4 Comments

hill.mila2mo ago

My cousin in Dallas thought a Roth IRA was a new streaming service, like a competitor to Netflix. It's wild how financial stuff just sounds like gibberish if you've never had to deal with it. I blame the names they pick, they're all numbers and letters on purpose. Makes it feel like a secret club nobody explained the rules to.

jamie_price2mo ago

A Roth IRA as a streaming service? That's a new one.

aaron_wilson171mo ago

Yeah that actually makes sense. I used to roll my eyes at people mixing up finance terms, thinking they just weren't paying attention. But honestly, the way they name this stuff is designed to confuse regular people.

alicea261mo ago

A STREAMING SERVICE? No way. That's actually hilarious and also kind of sad at the same time. Like I get mixing up car names because they're also numbers and letters, but Roth IRA sounds nothing like Netflix or Hulu. It's like people just hear two letters and a word and fill in the blanks with whatever makes sense to them. This makes me worry about what other crazy stuff people believe about money.