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Thread: Saving for Retirement - 401k....

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    Registered User JuicyTriniJJ's Avatar JuicyTriniJJ is offline
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    Saving for Retirement - 401k....

    Does your company have one? Do you participate? If not, how are you saving for retirement?

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    where de crix Oneshot's Avatar Oneshot is offline
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    i had second thoughts about honestly.. my main reason for joining was the matching contributions, other than that i would have prefer to contribute to an index tracker or some other unit trust.

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    Registered User up2detime's Avatar up2detime is offline
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    yes and yes

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    Registered User dedetriniking's Avatar dedetriniking is offline
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    Best way to build a nest for the future. If your company has a Roth, I would say to utilize that since you will be able to withdraw tax-free in the future because the contributions now is after taxes.

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    where de crix Oneshot's Avatar Oneshot is offline
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    Quote Originally Posted by dedetriniking View Post
    Best way to build a nest for the future. If your company has a Roth, I would say to utilize that since you will be able to withdraw tax-free in the future because the contributions now is after taxes.
    all depends on the returns you get though.. someone with a 5 year old 401k that was overweight in equities, would be facked right now

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    Registered User dedetriniking's Avatar dedetriniking is offline
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    Quote Originally Posted by Oneshot View Post
    all depends on the returns you get though.. someone with a 5 year old 401k that was overweight in equities, would be facked right now
    good point...you do have to be smart about it.

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    Registered User JuicyTriniJJ's Avatar JuicyTriniJJ is offline
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    Quote Originally Posted by Oneshot View Post
    i had second thoughts about honestly.. my main reason for joining was the matching contributions, other than that i would have prefer to contribute to an index tracker or some other unit trust.
    True. Choices are usually slim in a 401k and sometimes quite expensive when it comes to the expense ratios. There's always the possiblity of just contributing enough to get the match and using a deductible IRA at a discount broker to get the tax benefits and better investment options.

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    Registered User JuicyTriniJJ's Avatar JuicyTriniJJ is offline
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    Quote Originally Posted by dedetriniking View Post
    Best way to build a nest for the future. If your company has a Roth, I would say to utilize that since you will be able to withdraw tax-free in the future because the contributions now is after taxes.
    I think the Roths are great, but you have an annual max of only $6,000 and year compared to the 401k max of $15,500. A balance of both is always good..........with the right investment risk of course.

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    Registered User jKipler's Avatar jKipler is offline
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    I don't know too much about 401ks but what I do understand I learned from a .org website. I hope you don't mind me posting a reference?

    401k Advice

  10. #10
    sharkie
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    Quote Originally Posted by Oneshot View Post
    all depends on the returns you get though.. someone with a 5 year old 401k that was overweight in equities, would be facked right now
    depends on their age as well. us young ppl could be aggressive, need to have some balance depending on where you are in your life and when you want to retire.

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    where de crix Oneshot's Avatar Oneshot is offline
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    Quote Originally Posted by sharkie View Post
    depends on their age as well. us young ppl could be aggressive, need to have some balance depending on where you are in your life and when you want to retire.
    more than that though.. cause some money market funds (supposed to be as good as money) were heavily invested in debt of too big too fail companies.. and well.. if lehman proved anything very few companies are too big too fail

  12. #12
    Gladiator
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    Quote Originally Posted by JuicyTriniJJ View Post
    Does your company have one? Do you participate? If not, how are you saving for retirement?
    My company does have one but its not mandatory. I still believe the 41k plan is the best plan for me..

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    Registered User CoilyKinks's Avatar CoilyKinks is offline
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    Quote Originally Posted by Oneshot View Post
    more than that though.. cause some money market funds (supposed to be as good as money) were heavily invested in debt of too big too fail companies.. and well.. if lehman proved anything very few companies are too big too fail
    MMF are not the best investment tools. I prefer target date funds and mutual funds with Vanguard, for example.

    I have a 401k, Roth IRA, HYS account and a trading account. The earlier you start investing, the better.

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    where de crix Oneshot's Avatar Oneshot is offline
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    Quote Originally Posted by CoilyKinks View Post
    MMF are not the best investment tools. I prefer target date funds and mutual funds with Vanguard, for example.

    I have a 401k, Roth IRA, HYS account and a trading account. The earlier you start investing, the better.
    unless you can correct me, target date funds, mutual funds would operate on the same principles of MMF towards the age of retirement, that is investing in commercial paper, sovereign debt, and cash

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    Temporary Suspension Swerve is offline
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    401K's weren't originally designed for the average person. It was actually designed for the very well to do to defer or avoid paying taxes. Unfortunately, the average person making 40K-70K really won't save as much money as you might think by the time retirement comes around. Sadly... its reduces your disposable income..granted, saving is great but there is 2 sides to all of this. people only hear one side..the one designed to sell you the advantages. U never hear the disadvantages..and u dont know how much the 401K administrators are really making off of you.

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