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401K

Discussion in 'Money & Finance Forum' started by Village Idiot, Oct 8, 2008.

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  1. Oct 15, 2008 at 8:40 PM #21
    CunningRunt

    CunningRunt Full Access Member

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    I opened a ROTH for my wife and I to be a little more conservative. My 401k is down, but I'm hoping the market will rebound and I'm actually getting a deal right now. My company contributes 200% if I put in at least 4%, so I gotta take advantage of that.
     
  2. Oct 16, 2008 at 8:22 AM #22
    VA49er

    VA49er Full Access Member

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    The best thing about a 401(k) is the free money in the form of the company match. Not all companies match but I can't understand why anybody would not participate and give up free money. Lots of people do though.

    On a bad note I opened 529s for my two kids earlier this year and both plans have almost been wiped out. Granted, there was only a couple grand in them but it still sucks. Glad I've got 16+ years to make it back.
     
  3. Oct 17, 2008 at 4:58 PM #23
    MikeNinerHunt

    MikeNinerHunt Fast white guy

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    I slapped all of my 401K money into the Stable/ Invesco fund in March, I've gained 3.2% since then, how do you like those apples? think everything has come close to bottoming out, should I go back to the high risk while they are low as shit?

    My company matches 50% up to 6%. Everyone automatically gets 3% per paycheck, whether you put any in yourself or not.
     
  4. Oct 17, 2008 at 9:17 PM #24
    CunningRunt

    CunningRunt Full Access Member

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    Warren Buffett said "Be greedy when others are fearful, and fearful when others are greedy." Now is a time to be greedy.
     
  5. Oct 17, 2008 at 9:22 PM #25
    Wonder Woman

    Wonder Woman Full Access Member

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    I agree with cunning on this. You are way too young not to be aggressive with investing.
     
  6. Oct 17, 2008 at 9:47 PM #26
    MikeNinerHunt

    MikeNinerHunt Fast white guy

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    Yeah, I'll switch by the end of the month, but give me something for not losing 20% or more the last six months!!!
     
  7. Oct 18, 2008 at 4:50 AM #27
    Wonder Woman

    Wonder Woman Full Access Member

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    You've got this all wrong. You need to give me something to help counteract my losses. You know...SPREAD THE WEALTH AROUND. [​IMG]
     
  8. Oct 18, 2008 at 8:05 AM #28
    jazzbluescat

    jazzbluescat superstar...yo.

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    Amen to that.:flowers:
     
  9. Oct 25, 2008 at 3:05 PM #29
    Stargazer

    Stargazer American Girl

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    Smart move! I finally did something similar with mine, but I should have done it a lot sooner.
     
  10. Oct 25, 2008 at 3:13 PM #30
    Wonder Woman

    Wonder Woman Full Access Member

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    200% seriously? That's incredible. What is the maximum you can contribute to get that? How are your other benefits?
     
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