401k Questions, Investments etc. etc.

[Jagermeister]

@dubbin91

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?

Thanks, Guys. I’ll figure something out. I have 6 years experience in marketing and promotions, but I am also interested in Sales.

Beck - Sorry for derailing your thread. Please don’t try to anal rape me.

[dubbin91]

@Jagermeister

Thanks, Guys. I’ll figure something out. I have 6 years experience in marketing and promotions, but I am also interested in Sales.

Beck - Sorry for derailing your thread. Please don’t try to anal rape me.

Going to join the selling Pella windows crew? Then maybe get yourself a matching 335i:lol:

[Jagermeister]

@dubbin91

Going to join the selling Pella windows crew? Then maybe get yourself a matching 335i:lol:

It’s been discussed. I’d be their Boss. :lol:

[Dr.Stevil]

@91MR2

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

I agree with you 100%

put in enough where you wont leave yourself short on $$$ and just forget about it.

I’ve been doing this for the past few years and have already made a decent chunk of change… going at this rate, I should be pretty well set when it comes time to retire. I’m no financial advisor or anything, but it’s probably a good idea to split it up into a few different plans.

for instance, I have 1/2 of my contributions going into an interest savings account, 1/4 going into one group investment plan, and the other 1/4 going into another group investment plan.

[sureshot]

@Fry

Oh, and you have to pay a 10% penalty if you withdraw from a 401k before you’re 59.5 years old.

I don’t know if this was already corrected, but in NYS, you end up paying around 30%, not 10%.

[91MR2]

True…that happened to my dad…

[Daddie]

FYI. Best piece of advice that is like, common sense.

Sure, compounding interest is great on your IRA / 401K, but it’s about 10x worse if it’s compounding interest AGAINST you.

Do you have a couple grand in credit card debt? Don’t start saving until you get rid of your debt. Unless of course, it’s like, a mortgage, or - a super low interest loan.