401k, Roths, etc
I honestly don’t understand the first thing about these but are we allowed to do these?
Seems like they take your money every month and invest in funds and then you earn some interest? So if you want to avoid interest do you not sign up for these options ?
Re: Retirement plans
Keeping my faith in a lottery win
pension plans
Did they give you the list of the funds you can choose from
You can choose to invest in the equity funds (high risk so high return) which are permissible (most islamic scholars) than bonds (low risk so low return mostly fixed interest).
That's what I did.
Re: Retirement plans
That doesn't make sense. I'd think high risk funds are more unIslamic because wouldn't that be like gambling away money?
Re: Retirement plans
Just look at the companies in that particular fund. If they are not into haram products, go for it.