Unless you die a little early … and even better: you’re also single. 
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Sorry to go into politics but:
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The 2nd pillar is really more of an insurance than “our money”, it covers a range of potential events and protects dependents somewhat. 3a is closer to “our money” without really being it, though, so a case could be made for withdrawing it whenever we want, with a tax penalty.
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The assumption is that, at 40, you have better chances to be in good enough shape to work if you need extra money than you are past 65. If you take money out early and can’t support your own retirement, the community will have to pay for it through the complementary benefits from OASI.
Such guardrails may not be necessary for you particularily, as I assume you are responsible with your money, but there are definitely people out there who would take it out at 40 to go on a cruise, buy a Maseratti or impress their target conquest.
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… or start any kind of business or buy overpriced real estate…which is allowed.
Wrong thread, I think this is covered elsewhere.
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I think its not allowed to take it out because it was tax exempt money. State only allows tax exempt savings if it believes its good for national interest & society as whole.
But sure, I agree, they should allow people to take it out (if reason is not the one included in law) by deducting taxes that were saved in prior years.
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This sounds relatable?
I can’t read the article in full and I guess I’m reacting orthogonally but going by the title (" As Markets Swooned, Pros Sold—and Individuals Pounced"): this is a part of why buying and holding is hard.
After a rebounce, when it becomes clear that buyers and holders made more money than those who sold at the wrong time and are potentially still out of the markets, articles about the virtues of staying the course abound.
Not so much at the start of what can either be a run of the mill -20% drop or a bigger crash (which we don’t know yet). At that point in time, early sellers are the heroes who are put forward by the articles.
The drop, where market times are glorified, happens before the rebounce where the benefits of holding through thick and thin get more publicity. You have to have a strong belief to see your portfolio going down while it’s touted that market timers have it right and you could have invested in a hedge fund instead (if you had the requisite capital).
Buying and holding is a simple strategy, but it is not easy to stick to it when push comes to shove.
TeaGhost said “smart money came out in 2008”, that stuck with me and lo and behold a WSJ (I don’t have access either, just reacting to the title as well) showed up right on time on my newsfeed (talk about a myriad of self-fulfilling biases playing up in my head).
I think the comparison of professionals/institutions to retail is very flawed though, sure it makes for a catchy title but institutions have different goals and balances, they need to deliver and deliver steady for decades, especially pension funds.
Made me even question the famous Buffett bet vs funds of funds too - they failed to beat the S&P500, but…were they trying to?
Edit: reminded me of a story on reddit about a year and a half ago, where a user was incensed that their parents’ financial planner made a portfolio that didn’t match the S&P500. The schmuck even posted a graph showing the portfolio having a nearly straight line up, about 5-6% CAGR, and no drops to negative, including in 2008 and 2022. People called him a schmuck and told him to buy some wine for the planner.
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I’ve finally read the article. I get the impression it is actually kind of balanced and, if anything, leaning toward buy and hold for individual investors while explaining hedge fund behavior.
My reaction doesn’t apply to it.
I read it too now, basically says there seems to be a mentality shift in retail to buy the dip. Possibly an artefact of the bull run and social media, fairly worrying as no retail Jo has endless reserves of willpower, or cash.
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This should be a gift unlocked link:
https://www.wsj.com/finance/investing/market-chaos-professional-investors-sold-stocks-individuals-bought-d1c325c6?st=j7KsLi&reflink=desktopwebshare_permalink
(at least for the first few that click it, I’m guessing)
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