Ok so with the talk in johns post i think i will start the topic here
hope we can get some good info for everyone to use
so ill post my profile and if anyone has any good info on what i should change let me know… right now i put away 1% witch is like 38 bucks every 2 weeks dont know if i just keep it how it is or change something and the self-help does not work…
oh i have principal and work does not match
1% ??? At least it’s a start.
I do recommend posting who your retirement plan is with though. for example, mine is through principal.
1% i did not know what else to do i like getting all my money …once my wife starts getting pay checks im going to put it to 5%
but i just thought that at least get started with something
email it to me i cant view it on the forum. i am not anywhere near an expert at all just so you know but i will atleast tell you what i think. ablake211@yahoo.com
Also man 1% you are only cheating yourself
I am starting one in about a month I get a 4% match I plan on maxing that, what else should I know before going into?
1% so he can tell his inlaws he is saving for the future and not have to lie about it!
( all the while he pulls up in a newly GSR’d turbo hatch or something )
its still money going in :gotme: right now with buying a house and such i thought keep it low till i get in and then change it … i can change it everymonth for free online
Also what does your comany do for your 401k? You need to also think about a roth IRA if you ask me. 401k’s are great but you need to calculate how much benefit you get from your company and what you think your future value will be then factor in taxes. Basically are your companys additions going to outweigh the tax breaks of a Roth. Or just contribute max to both FTW.
my company matches the % i put in up to 4%
So i put in 4% and they put in 4%.
I started with 4% because if i was at 1% then went to 4% id be asking wheres my $$$. but im used to 4% soo…
ALSO-if i leave my company and did not put in 5 yrs…all their % is taken back =(
^ Wise man. ( cougarspeed )
That guy helped you out with the Roth stuff?
Since my company doesn’t match at all, I feel like I’m wasting time putting money into my 401k here. At least I found a topic to read about this afternoon :tup:
[quote=“93dx–hatch,post:5,topic:39907"”]
I get a 4% match I plan on maxing that
[/quote]
That is the biggest advantage to a company 401K.
It is like free money, even if your funds don’t increase at least you got free, tax defered money.:tup:
put as much into it as your company will match you on. if you don’t, you are essentially saying “No, I don’t want your free money Mr. Employer.”
and that is dumb
then i like to toss loot in to my roth ira, and then into my hsa which is treated like a roth.
[quote=“sureshot!,post:10,topic:39907"”]
^ Wise man. ( cougarspeed )
That guy helped you out with the Roth stuff?
Since my company doesn’t match at all, I feel like I’m wasting time putting money into my 401k here. At least I found a topic to read about this afternoon :tup:
[/quote]
Yes he did help me. I really learned most of what i know from the econ/finance classes i took this semester combined with tons of research i did once i started having alot of disposible income. I didnt want to do nothing so i researched learned and made moves is all. I am not even close to an expert and anything ive learned really has been in the last 6 months.
this place does not match for me 
now if i know nothing about a roth …i think that means i dont have one
i have a match
your face and my ass
[quote=“Zer0DazE,post:15,topic:39907"”]
i have a match
your face and my ass
[/quote]
oh baby if i could just get that close once more
back to 401k
Roth-IRA from the most reputable resource on the internet… wikipedia.
Advantages
* At any time, the Roth IRA owner may withdraw up to the total of his or her contributions (in nominal dollars) without tax or penalty. * If there is money in the Roth IRA due to conversion from a Traditional IRA, the Roth IRA owner may withdraw up to the total of the converted amount, as long as the "seasoning" period has passed on the converted funds (currently, five years). * Earnings withdrawals become automatically qualified in the tax year the participant reaches age 59.5 or becomes disabled, so long as the account is "seasoned" (established for five or more years). * Up to $10,000 in earnings withdrawals are considered qualified if the money is used to acquire a principal residence. This house must be acquired by the Roth IRA owner, their spouse, or their lineal ancestors and descendants. The owner or qualified relative who receives the "first time homeowner" distribution must not have owned a home in the previous 24 months. * If a Roth IRA owner dies, and his/her spouse becomes the sole beneficiary of that Roth IRA while also owning a separate Roth IRA, the spouse is permitted to combine the two Roth IRAs into a single account without penalty.IRS Pub 590 * If the Roth IRA owner expects his or her tax bracket after retirement to be higher than before retirement, there is a tax advantage to making contributions to a Roth IRA over a traditional IRA or similar vehicle. There is no current tax deduction, but money going into the Roth IRA is taxed at the lower current rate, and will not be taxed at the higher future rate when it comes out of the Roth IRA. If a taxpayer is currently in the 15% tax bracket, then a $1,000 contribution to a traditional IRA would provide a $150 reduction in current-year tax liability. If that taxpayer were in the 30% tax bracket upon retirement, $1000 of traditional IRA distributions would incur $300 in taxes. Therefore, the person would pay twice as much for after retirement income as he received in tax benefits from the traditional IRA deduction (and since gains are compounded, this comparison is valid). Therefore, the Roth IRA offers a specific advantage where a person will retire in a higher tax bracket than that used during his or her pre-retirement years. * The Roth IRA does not require distributions based on age. All other tax-deferred retirement plans, including the related Roth 401(k),[1] require withdrawals to begin by April 1 of the calendar year after the owner reaches age 70½, and impose an annual minimum distribution once withdrawals begin at any age beyond 59 ½.
Disadvantages
* The main disadvantage of a Roth IRA (when compared to a traditional IRA) is that contributions are not tax-deductible. If one contributes $1000 to a traditional IRA while in a high tax bracket, one can often receive a tax deduction, substantially reducing the initial cost of contributing (or, potentially, allowing someone without much disposable income to shelter more income). This is not the case for the Roth IRA. It should be noted that the money in a traditional IRA is taxed once it is withdrawn at retirement. If one is not able to max out one's IRA contributions, and ends up in a lower income tax bracket at retirement, then one will wind up with less usable cash by choosing a Roth IRA over a Traditional IRA. * With a Roth IRA, there are heavy penalties for early withdrawals of earnings (withdrawals up to the total of contributions + conversions are tax-free). An unqualified withdrawal of earnings will result in federal income tax plus a ten-percent penalty on the amount. Fortunately there are many exceptions, such as buying a first home and paying qualified educational expenses. * The perceived tax benefit may never be realized, i.e., one might not live to retirement or much beyond, in which case, the tax structure of a Roth only serves to reduce an estate that may not have been subject to tax. One must live until their Roth IRA contributions have been withdrawn and exhausted to fully realize the tax benefit. Whereas, with a traditional IRA, tax might never be collected at all, i.e., if one dies prior to retirement with an estate below the tax threshold, or goes into retirement with income below the tax threshold.
Company matches 4% for me. My first year I traveled a ton and had no real expenses, so I put 15% of my income in to my 401K to build it up. I’ve dialed it back to 10% now for the past couple of years and its amazing how fast it builds up. I actually hate receiving account statements because I’m like “Shit, I could buy an M3 in Cash!”
Since I have been doing it for so long I have adjusted my spending and don’t really notice the 10% less difference.
Oh, and you should be 100% in fairly high risk stocks while you are young. Better chance for bigger returns and you can recover if you take a hit. As you age, you should slowly move towards safer investments.
Good info on the roth right thurr and you should deffinatley be investing into a roth if your company dosent even match your money at all. BTW i responded to the e-mail.
My company matches 3%…I’ve already made over 1000 and I have only had this 401K for less than a year. I am also investing half of that into some stock. our company even provides us with a financial advisor. it surely helps in planning for the future. So if your company offers a match DO IT!! lol