# 401k Questions, Investments etc. etc. **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [January 14, 2009, 11:33am UTC](https://forums.speedlife.net/t/401k-questions-investments-etc-etc/61317 "2009-01-14T11:33:33Z")\ **Posts on this page:** 20\ **Page:** 2
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [January 14, 2009, 12:07pm UTC](https://forums.speedlife.net/t/401k-questions-investments-etc-etc/61317/21 "2009-01-14T12:07:47Z")
> [@Beck](#): > > I’m currently throwing 10% into a “Dow Jones target 2045” . Should I just let it sit there forever? I will be 59 years old in 2045. you basically pick the year that you plan to retire in… the longer until that year, the more aggressive they will play with your money today. (high risk when you’re young, lower risk as you approach retirement). If you want MORE risk, pick a higher year than you really plan to retire in. ---
**Author:** ![Beck](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/beck/32/28683_2.png) [@Beck](https://forums.speedlife.net/u/Beck)\ **Post date:** [January 14, 2009, 12:08pm UTC](https://forums.speedlife.net/t/401k-questions-investments-etc-etc/61317/22 "2009-01-14T12:08:09Z")
> [@Willybeen](#): > > you can use qualified retirement money to do the following without penalty… > > [http://www.answerbag.com/q\_view/75522](http://www.answerbag.com/q_view/75522) > > homes- health- higher education So in two years I can take the 24k or whatever is in there, and use it to buy a house without penalty? ---
**Author:** ![Beck](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/beck/32/28683_2.png) [@Beck](https://forums.speedlife.net/u/Beck)\ **Post date:** [January 14, 2009, 12:09pm UTC](https://forums.speedlife.net/t/401k-questions-investments-etc-etc/61317/23 "2009-01-14T12:09:28Z")
> [@theblue](#): > > you basically pick the year that you plan to retire in… the longer until that year, the more aggressive they will play with your money today. (high risk when you’re young, lower risk as you approach retirement). If you want MORE risk, pick a higher year than you really plan to retire in. thats what i’m doing currently. My question is, should i stay in this? I have the ability to move my money around amongst different plans…however, I don’t know jack shit about this stuff. ---
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [January 14, 2009, 12:15pm UTC](https://forums.speedlife.net/t/401k-questions-investments-etc-etc/61317/24 "2009-01-14T12:15:43Z")
this brings us back to the 401k vs. IRA. A 401k contains a very limited selection of funds. An IRA will have almost infinite funds and stocks and whatever else you want. You can’t randomly move money from a 401k \<–\> IRA, but when you leave your job you have to cash out to the next company’s 401k or to an IRA. to answer your question… If you already knew the answer you should follow that advice, otherwise just stay in the “year 2045” or whatever plan since guessing would simply be gambling for you at this point. I’m not sure what to advise on the pulling money for a house etc side of things since I just saved separately for that. ---
**Author:** ![Beck](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/beck/32/28683_2.png) [@Beck](https://forums.speedlife.net/u/Beck)\ **Post date:** [January 14, 2009, 12:17pm UTC](https://forums.speedlife.net/t/401k-questions-investments-etc-etc/61317/25 "2009-01-14T12:17:25Z")
I was told that if i switch jobs my 401k goes with me. Any job, anywhere. Maybe he lied to me? Who the fuck knows. ---
**Author:** ![Willybeen](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/willybeen/32/7351_2.png) [@Willybeen](https://forums.speedlife.net/u/Willybeen)\ **Post date:** [January 14, 2009, 12:20pm UTC](https://forums.speedlife.net/t/401k-questions-investments-etc-etc/61317/26 "2009-01-14T12:20:04Z")
true, but you cant contribute anymore to THAT 401k. but it can be rolled over into any IRA… ---
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [January 14, 2009, 12:20pm UTC](https://forums.speedlife.net/t/401k-questions-investments-etc-etc/61317/27 "2009-01-14T12:20:21Z")
^^^ so can you keep the existing 401k until you retire (without any more contributions), or do you have to cash out to an IRA / next company’s 401k? I’m unclear and have not needed to worry about this scenario so far. ---
**Author:** ![Willybeen](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/willybeen/32/7351_2.png) [@Willybeen](https://forums.speedlife.net/u/Willybeen)\ **Post date:** [January 14, 2009, 12:21pm UTC](https://forums.speedlife.net/t/401k-questions-investments-etc-etc/61317/28 "2009-01-14T12:21:59Z")
> [@Beck](#): > > So in two years I can take the 24k or whatever is in there, and use it to buy a house without penalty? only 10k can be used. IIRC, and only one time too. ---
**Author:** ![91MR2](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/91mr2/32/7217_2.png) [@91MR2](https://forums.speedlife.net/u/91MR2)\ **Post date:** [January 14, 2009, 1:39pm UTC](https://forums.speedlife.net/t/401k-questions-investments-etc-etc/61317/29 "2009-01-14T13:39:29Z")
I won’t say what I put in personally, but I’ll just say this to you. PUt in as much as you can possibly afford in your 401K/IRA/investments of other sorts. You’ll learn what you really need to live on, and you’ll build a nest egg very quickly. Especially when you’re young and you make good coin, and are not burdened by a family/children. My $.02 ---
**Author:** ![Jagermeister](https://avatars.discourse-cdn.com/v4/letter/j/f19dbf/32.png) [@Jagermeister](https://forums.speedlife.net/u/Jagermeister)\ **Post date:** [January 14, 2009, 2:15pm UTC](https://forums.speedlife.net/t/401k-questions-investments-etc-etc/61317/30 "2009-01-14T14:15:13Z")
> [@Beck](#): > > I was told that if i switch jobs my 401k goes with me. Any job, anywhere. Maybe he lied to me? Who the fuck knows. I’ll let you know. As of this morning, I am looking for something new. :eek: ---
**Author:** ![dubbin91](https://avatars.discourse-cdn.com/v4/letter/d/ecccb3/32.png) [@dubbin91](https://forums.speedlife.net/u/dubbin91)\ **Post date:** [January 14, 2009, 2:20pm UTC](https://forums.speedlife.net/t/401k-questions-investments-etc-etc/61317/31 "2009-01-14T14:20:25Z")
> [@Jagermeister](#): > > I’ll let you know. As of this morning, I am looking for something new. :eek: No longer with Irwin? ---
**Author:** ![deebo](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/deebo/32/5218_2.png) [@deebo](https://forums.speedlife.net/u/deebo)\ **Post date:** [January 14, 2009, 2:22pm UTC](https://forums.speedlife.net/t/401k-questions-investments-etc-etc/61317/32 "2009-01-14T14:22:29Z")
maybe im thinking of something else(i probably am), but i learned about all of this shit a while ago. but put in a lot while you are young and having nothing to spend money on other than cars n bitches, you can eventually stop contributing and just let the interest take over. im prob thinking of other investments. someone making an initial investment of 10k with 15% of their paycheck thereafter at age 22, @ lets say 10% interest(for easiness) will have a SIGNIFICANT amount more money in their plan than someone at age 30 with an initial of 15k with the same rates and same contribution thru their paycheck. i dont feel like making a chart, but u can go thru and see the numbers difference at age 60. start early with the most you can ---
**Author:** ![dubbin91](https://avatars.discourse-cdn.com/v4/letter/d/ecccb3/32.png) [@dubbin91](https://forums.speedlife.net/u/dubbin91)\ **Post date:** [January 14, 2009, 2:28pm UTC](https://forums.speedlife.net/t/401k-questions-investments-etc-etc/61317/33 "2009-01-14T14:28:58Z")
> [@theblue](#): > > ^^^ > so can you keep the existing 401k until you retire (without any more contributions), or do you have to cash out to an IRA / next company’s 401k? I’m unclear and have not needed to worry about this scenario so far. Yes you can keep the 401k without any contributions if you leave your company, its not the best idea since its still considered under your companies name and they can make decisions as a whole on there 401k package with what options the retirement plans fall under if they decided to change plans, etc. to save money. For all my reading onto the subject it is best to roll it into your new 401k with your new company or into a Roth IRA to have it all under your control… edited because i got the tax par wrong on roth ira…leaving work will correct later ---
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [January 14, 2009, 2:31pm UTC](https://forums.speedlife.net/t/401k-questions-investments-etc-etc/61317/34 "2009-01-14T14:31:36Z")
I wouldn’t want to move anything with the $2x,xxx loss this last 6 months… but once things improved again I would dump to a new 401k based on this. makes sense. ---
**Author:** ![walter](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/walter/32/7202_2.png) [@walter](https://forums.speedlife.net/u/walter)\ **Post date:** [January 14, 2009, 2:58pm UTC](https://forums.speedlife.net/t/401k-questions-investments-etc-etc/61317/35 "2009-01-14T14:58:12Z")
I saw the other thread first: [http://nyspeed.com/forums/showpost.php?p=1238334&postcount=28](http://nyspeed.com/forums/showpost.php?p=1238334&postcount=28) That said, the target 2045 fund is good for someone your age. Regarding your 401k going with you, it does for what you have contributed however any “match” you receive you typically need to be vested to move which typically takes 5 years. Many plans allow you to be partially vested as you get closer to the 5 years. ---
**Author:** ![walter](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/walter/32/7202_2.png) [@walter](https://forums.speedlife.net/u/walter)\ **Post date:** [January 14, 2009, 3:00pm UTC](https://forums.speedlife.net/t/401k-questions-investments-etc-etc/61317/36 "2009-01-14T15:00:14Z")
> [@Willybeen](#): > > roth IRA = pay taxes now, under the assumption that you will be in a higher tax bracket later and you’re not going to want to pay taxes then. > > Trad. IRA = pay taxes when you dip into the account after age 59.5 (also, YOU MUST TAKE RMD’s at 70.5, and thats not the case with the a roth) the other big point is that most magic 8 balls point to taxes in general being higher in the future… not lower 🤓 ---
**Author:** ![Jagermeister](https://avatars.discourse-cdn.com/v4/letter/j/f19dbf/32.png) [@Jagermeister](https://forums.speedlife.net/u/Jagermeister)\ **Post date:** [January 14, 2009, 6:46pm UTC](https://forums.speedlife.net/t/401k-questions-investments-etc-etc/61317/37 "2009-01-14T18:46:42Z")
> [@dubbin91](#): > > No longer with Irwin? As of 9am this morning, NO. :shoot: ---
**Author:** ![91MR2](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/91mr2/32/7217_2.png) [@91MR2](https://forums.speedlife.net/u/91MR2)\ **Post date:** [January 14, 2009, 7:28pm UTC](https://forums.speedlife.net/t/401k-questions-investments-etc-etc/61317/38 "2009-01-14T19:28:05Z")
Jeez, sorry to hear dude. ---
**Author:** ![TurboTSi](https://avatars.discourse-cdn.com/v4/letter/t/22d042/32.png) [@TurboTSi](https://forums.speedlife.net/u/TurboTSi)\ **Post date:** [January 14, 2009, 7:31pm UTC](https://forums.speedlife.net/t/401k-questions-investments-etc-etc/61317/39 "2009-01-14T19:31:02Z")
Sorry to hear that Mike. I know you said you might be looking to leave, hopefully something better will come out of it. ---
**Author:** ![dubbin91](https://avatars.discourse-cdn.com/v4/letter/d/ecccb3/32.png) [@dubbin91](https://forums.speedlife.net/u/dubbin91)\ **Post date:** [January 14, 2009, 7:37pm UTC](https://forums.speedlife.net/t/401k-questions-investments-etc-etc/61317/40 "2009-01-14T19:37:06Z")
mike…you were marketing right? also sorry to hear about that…a lot of my clients are dropping budgets and maketing is the first to go. what are you looking to get into to? [Previous page](https://forums.speedlife.net/t/401k-questions-investments-etc-etc/61317.md?page=1) [Next page](https://forums.speedlife.net/t/401k-questions-investments-etc-etc/61317.md?page=3)