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In the world of investment and retirement planning, 401k plans are a popular option for individuals looking to save for their future. However, for Muslims who abide by Islamic principles, there are certain guidelines that need to be followed in order to ensure that their investments are in line with their faith.
Sheikh Assim Al Hakeem, a renowned Islamic scholar, has shared his insight on the ruling of 401k plans in Islam. According to Sheikh Assim, investing in a 401k plan can be permissible as long as the investments are made in accordance with Islamic principles.
One of the key considerations in participating in a 401k plan is ensuring that the investments are in compliance with Shariah law. This means avoiding investments in companies that deal in prohibited activities such as alcohol, gambling, and other haram (forbidden) industries. It is essential for Muslims to conduct thorough research into the companies in which their 401k investments are being made to ensure that they align with their faith.
In addition, Muslims should also consider the potential for riba (interest) in 401k plans. It is important to choose investment options within the plan that do not involve interest-based transactions, as this goes against Islamic teachings.
Ultimately, individuals should consult with a knowledgeable Islamic scholar or financial advisor to ensure that their 401k investments are halal (permissible) and in accordance with Shariah law.
As Muslims strive to build wealth and secure their financial future, it is important to approach investments with a diligent and cautious mindset. By adhering to the principles of Islamic finance and seeking guidance from knowledgeable scholars, individuals can navigate the world of 401k plans in a way that aligns with their faith and values.
This happens in sg called cpf. Its mandate by law. Yea they take our income n keeps it. Till we retire.
Asalamu Alaykum Shaykh, With my respect, I dont think the 401k was accurately described here. There is lots of provisions that allow you to take out as needed, and it is the employee funds not the employer* if you leave, your money goes with you.
Here are some motivating tips from Allah and the Prophet (Sallalahu 'alayhi wa sallam) to help you raise your degrees in Jannah as well as increase your property in Shaa Allah.
I) Raise your degrees
1) Memorising the Quran
Abd-Allah Ibn 'Amr narrated that the Prophet (Sallalahu 'alayhi wa sallam) said :"It will be said to the companion of the Quran : Recite and rise in status, recite as you used to recite in the world, for your status will be at the last verse that you recite." [ Tirmidhi and Abu Dawood ]
2) Doing a lot of dhikr
Abu Darda (may Allah be pleased with him) narrates that the Prophet (Sallalahu 'alayhi wa sallam) said :"Shall I not inform you the best and the purest of your deed in the sight of your Master, which is the highest in your degrees, is superior to your spending gold and silver in charity, and is better than confronting and fighting against your enemy, cutting one another's necks?". The companions submitted :"Yes, indeed!". He (Sallalahu 'alayhi wa sallam) said :"It is remembering Allah." [ Sahih Tirmidhi ]
3) Doing good deeds(at least compulsory good deeds) and staying away from bad deeds
Allah said :" And whoever comes to Him (Allah) as a believer, and has done righteous good deeds, for such are the high ranks (in the Hereafter)." (Quran 20:75)
4) Doing a lot of nawafil (non compulsory deeds)
According to Abu Hurayrah (may Allah be pleased with him), the Messenger of Allah (Sallalahu 'alayhi wa sallam) said :" Allah said :" Whosoever shows enmity to someone devoted to Me, I shall be at war with him. My servant draws near to Me with anything more loved by Me than the religious duties I have enjoined upon him, and My servant continues to draw near to Me with supererogatory works so that I shall love him. When I love him I am his hearing with which he hears, his seeing with which he sees, his hand with which he strikes and his foot with which he walks. Were he to ask [something] of Me, I would surely give it to him, and were he to ask Me for refuge, I would surely grant him it. I do not hesitate about anything as much as I hesitate about [seizing] the soul of My faithful servant : he hates death and I hate hurting him." [ Bukhari ]
5) How to earn Jannat ul-Firdaws (highest degree in Jannah)
Allah said :"1) Certainly the believers have succeeded : 2) They who are during their prayer humbly submissive, 3) And they who turn away from ill speech, 4) And they who are observant of Zakah, 5) And they who guard their private parts, 6) Except from their wives or those their right hands possess, for indeed, they will not be blamed, 7) But whoever seeks beyond that, then those are the transgressors, 8) And they who are to their trusts and their promises attentive, 9) And they who carefully maintain their prayers, 10) Those are the inheritors, 11) Who will inherit Al-Firdaws. They will abide theirein eternally." (Quran 23 : 1-11)
6) Making a sincere du'aa that you desire Jannat ul-Firdaws
It was recorded in the Two Sahihs that the Messenger of Allah (Sallalahu 'alayhi wa sallam) said :"If you ask Allah for Paradise, then ask Him for Al-Firdaws for it is the highest part of Paradise, in the middle of Paradise, and from it spring the rivers of Paradise, and above it is the Throne of the Most Merciful." [ Bukhari and Muslim ]
II) Increase your property
II-1) How to earn a palace
1) Reciting 10 times surah 'Ikhlas'
The Prophet (Sallalahu 'alayhi wa sallam) said:"Whoever recites Qul huwallaahu aHad (Surah Ikhlaas) ten times, Allah will build for him a house in Paradise." [Saheeh al-Jaami’ al-Sagheer, 6472)]
PS : It is a very easy way to earn a palace and it only takes about one minute. So you can earn 10 palaces in 10 minutes. Don't waste this great opportunity and try to make this a motivating habit and earn as many palaces as you can.
2) Praying 12 Sunnah rak'aat
Narrated by Umm Habibah (RA) that the Messenger of Allah (Sallalahu 'alayhi wa sallam) said :"A house will be built in Heaven for one who prays 12 Sunnat Rak'aat in a day and evening as follows : 4 rak'aat before and 2 after the Dhur Prayer, 2 after the Maghrib Prayer, 2 after the 'Ishaa' Prayer and 2 before the Fajr Prayer." [ Tirmidhi ]
PS : According to the scholars, the 4 rak'aat should be performed by 2 prayers of 2 rak'aat
3) Building a masjid
The Prophet (Sallalahu 'alayhi wa sallam) said :"Whoever builds a masjid (mosque) for Allah, Allah will build for him likewise in Paradise." [ Sahih Bukhari and Sahih Muslim ]
4) Abandoning arguments and lies and improving your behaviour
Abu Umamah (RA) narrated that the Prophet (Sallalahu 'alayhi wa sallam) said :"I am a guarantor for a house on the outskirts of Paradise for whosoever leaves off arguing, even if he is in the right; and a house in the center of Paradise for whosoever abandons falsehood, even when joking; and a house in the upper-most part of Paradise for whosoever makes his character good." [ Abu Dawud ]
II-2) How to earn other great things in your property
1) A tree in Jannah
Abdullah Ibn Mas'ud (RA) reported that the Prophet (Sallalahu 'alayhi wa sallam) said :"I met Nabi Ibrahim (AS) when I was taken on Mi'aj (ascension to the heavens) and he told me :"O Muhammad, convey my salam (greetings) to your ummat and tell them that Jannah has good soil and sweet water, but it is barren. The plantation of Jannah is (the recital of) Subhan'Allah, Alhamdulill'AH? La ilaha illa Allah and Allahu Akbar." [ Sunan Tirmidhi, hadith: 3462. Imam Tirmidhi has classified his hadith as sound (hasan) ]
2) A palm tree in Jannah
Hadhrat Jaa'bir (RA) narrated that the Prophet (Sallalahu 'alayhi wa sallam) said :"For the person who recites 'SUBHAN'ALLAH HIL AZEEM WA BIHAMDIHI' (Pure and Perfect is Allah in his glory and praise], – A date palm will be planted for him in Paradise". [ Tirmidhi ]
3) Treasures of Jannah
Hadhrat Abu Dharr (RA) narrated that the Prophet (Sallalahu 'alayhi wa sallam) said :" Should I not tell you of one treasure of the unlimited treasures of Paradise?" I replied spontaneously "Oh Rasulallah (Sallalahu 'alayhi wa sallam) that would be an honor indeed!" Rasulallah (Sallalahu 'alayhi wa sallam) said :"That rare is 'LA HAWLA WA LA QUWWATA ILLA BILLAH."(There is no power and no strength except with Allah) [ Ibn Majah ]
4) A particular amazing room
Abdallah Ibn 'Amr (RA) narrated that the Prophet (Sallalahu 'alayhi wa sallam) said :"There is a room in Paradise whose outside is seen from its inside and whose inside is visible from its outside." So Abou Malk Al Ach'ari (RA) asked :"For whom is it, O Messenger of Allah?". He (Sallalahu 'alayhi wa sallam) said :"These rooms will belong to the ones who speak good words, feed the poor, they fast and pray at night when people are at sleep." [ Reported by Tabarani and authenticated bu Shaykh Albani in Sahih Targhib No. 617)
PS : These 4 conditions can be done during Ramadan. So let's all strive for this amazing room.
5) Hoor Al Ain (women of Paradise)
The Prophet (Sallalahu 'alayhi wa sallam) said :"Whoever suppresses anger and he is able to act upon it, then Allah (SWT) will call him on the day of judgement in front of everyone and make him choose whichever one of the women of Paradise he wants (of Al hoor Al Ayn)".
[ Sahih Tirmidhi and Abu Dawud ]
6) An honorable place in Jannah
Abu Huraira reported: The Prophet, peace and blessings be upon him, said, “Whoever goes to the mosque in the morning and evening, Allah will prepare for him a place in Paradise for every morning and evening.”
Source: Ṣaḥīḥ al-Bukhārī 631, Ṣaḥīḥ Muslim 669
PS : Let's not let go of all of these wonderful rewards. Because remember, the bigger your property, the greater the pleasure. It's time for us to wake up.
Share this with others so that you gain as much rewards as them practising.
If you want to copy this comment and you use a smartphone, go to Google Chrome then to Youtube, and then find this video and this comment and you'll be able to copy it in Shaa Allah.
May Allah grant all of us Jannat ul-Firdaws. Ameen.
I don’t think that’s what a 401K is. I think it was inaccurately defined
401ks are semi-governmental investment schemes so eternal reaping should be expected
And if you leave that job Before retirement they take about 27% of what you put in it
U r sooooo cuteeeee
What is haram is haram even if government mandates it. Never becomes halal.