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BofA's 401K Plan

Discussion in 'Money & Finance Forum' started by VA49er, Nov 2, 2006.

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  1. Nov 2, 2006 at 9:59 AM #1
    VA49er

    VA49er Full Access Member

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    Any of ya'll have this BofA's has done quite well.

    PS. the wifey works there.
     
  2. Nov 2, 2006 at 10:16 AM #2
    slydevl

    slydevl Asshole for the People!

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    There are like 25 investment options to choose from. Some have kicked ass and some haven't.

    Little misleading to say Bofa's has done quite well. She probably just has a good investment distribution.
     
  3. Nov 2, 2006 at 10:28 AM #3
    VA49er

    VA49er Full Access Member

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    True. BofA stock has done pretty well though. I enrolled her in the plan when she started working there about 3.5 years ago. She had completely forgotten about it until I pulled it up last week and it had over $20G in it. She thanked me. :satana:
     
  4. Nov 2, 2006 at 10:29 AM #4
    VA49er

    VA49er Full Access Member

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    The only thing I don't like about the plan is BofA only matches in bank stock. At least it was that way when I signed her up. That hasn't been such a bad thing lately though.
     
  5. Nov 2, 2006 at 10:31 AM #5
    Trace

    Trace Full Access Member

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    I am sure the bank stock is solid. However I have seen peoples 401ks disappear when a company tanks. Unless it is a major institution, I would never advise anyone to take a retirement match in stock.
     
  6. Nov 2, 2006 at 10:33 AM #6
    chipshot

    chipshot Full Access Member

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    I don't think that's how mine worked. They matched dollar for dollar up to 6% into the funds I selected. On top of that I accumulated grants and options during bonus season.
     
  7. Nov 2, 2006 at 10:38 AM #7
    Freakshow

    Freakshow Fuck you guys.

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    When I was at First Union they matched in stock. So I BOUGHT ZERO stock in the 401k since I knew they were gonna be putting shares into the account...YOu don't want your paycheck and 401k all dependent on your company.
     
  8. Nov 2, 2006 at 10:40 AM #8
    VA49er

    VA49er Full Access Member

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    That's why I set her up not to put any of her own money into the stock as she is/was being matched in stock anyway. I think there is a way to transfer what they match her with into other funds. I haven't looked closely enough to figure it out yet.
     
  9. Nov 2, 2006 at 10:41 AM #9
    VA49er

    VA49er Full Access Member

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    Hopefully that's the way it is now. Not sure, however, as she's not buying any stock on her own and that account has the highest dollar amount in her plan.
     
  10. Nov 2, 2006 at 10:43 AM #10
    VA49er

    VA49er Full Access Member

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    It's like a little game between the wife and I. She's actually interested now that I've shown her she can make some money. (Have to remember she's from Peru and they don't do too much with retirement plans down there). My 401K has returned 14% so far this year and hers has returned around 12.5%. It's been a good year, so far.
     
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