# 401K .. **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [December 7, 2007, 7:49am UTC](https://forums.speedlife.net/t/401k/39907 "2007-12-07T07:49:07Z")\ **Posts on this page:** 20\ **Page:** 4
**Author:** ![Maksim2000](https://avatars.discourse-cdn.com/v4/letter/m/dec6dc/32.png) [@Maksim2000](https://forums.speedlife.net/u/Maksim2000)\ **Post date:** [December 7, 2007, 11:38am UTC](https://forums.speedlife.net/t/401k/39907/61 "2007-12-07T11:38:56Z")
[quote=“sureshot!,post:35,topic:39907"”] :noob: [/quote] Hi ---
**Author:** ![POOPRA](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/poopra/32/7188_2.png) [@POOPRA](https://forums.speedlife.net/u/POOPRA)\ **Post date:** [December 7, 2007, 12:03pm UTC](https://forums.speedlife.net/t/401k/39907/62 "2007-12-07T12:03:56Z")
[quote=“Oroc,post:52,topic:39907"”] My place of work matches up to 20% so i do the full sha-bang. I dont have many bills, paid cash for school by myself, own my cars, no debt, so i max that out + other investments :tup: IRAs. The camaro is my worst investment haha :pimp: [/quote] Most companies your not even allowed to put over 15% of your paycheck in. I do the 5% plus the company matches the 5% I put in. ---
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [December 7, 2007, 12:05pm UTC](https://forums.speedlife.net/t/401k/39907/63 "2007-12-07T12:05:08Z")
[quote=“POOPRA,post:62,topic:39907"”] Most companies your not even allowed to put over 15% of your paycheck in. I do the 5% plus the company matches the 5% I put in. [/quote] I believe the law is 10% max. ---
**Author:** ![LAFENGAS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/lafengas/32/7573_2.png) [@LAFENGAS](https://forums.speedlife.net/u/LAFENGAS)\ **Post date:** [December 7, 2007, 12:05pm UTC](https://forums.speedlife.net/t/401k/39907/64 "2007-12-07T12:05:13Z")
[quote=“Fry,post:53,topic:39907"”] Matches 20%?!?! :jawdrop: [/quote] i have a feeling (could be wrong) he meant to say his employer matches 20% up X% (where X= 1 to 15) I think when i was w/ American Axle it was 55% match up to 12% ---
**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:** [December 7, 2007, 12:29pm UTC](https://forums.speedlife.net/t/401k/39907/65 "2007-12-07T12:29:01Z")
yeah… I doubt any company matches up to 20%. the cap for a 401K per year is something like $10,000 I thought. ---
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [December 7, 2007, 12:37pm UTC](https://forums.speedlife.net/t/401k/39907/66 "2007-12-07T12:37:22Z")
^See post #48. ---
**Author:** ![Jagermeister](https://avatars.discourse-cdn.com/v4/letter/j/f19dbf/32.png) [@Jagermeister](https://forums.speedlife.net/u/Jagermeister)\ **Post date:** [December 7, 2007, 12:41pm UTC](https://forums.speedlife.net/t/401k/39907/67 "2007-12-07T12:41:34Z")
I don’t believe there is a cap to the percentage you can put in, just the total $ amount you can put in. When my Brother received his very first bonus from Merrill Lynch he took a small portion and maxed out his 401K in one payment. At the time it was $14.5K but it is now $15.5K ---
**Author:** ![jay\_g](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jay_g/32/111288_2.png) [@jay\_g](https://forums.speedlife.net/u/jay_g)\ **Post date:** [December 7, 2007, 12:43pm UTC](https://forums.speedlife.net/t/401k/39907/68 "2007-12-07T12:43:19Z")
My employer puts in 3% no matter what. I put in 5%. ---
**Author:** ![LZ1](https://avatars.discourse-cdn.com/v4/letter/l/7ab992/32.png) [@LZ1](https://forums.speedlife.net/u/LZ1)\ **Post date:** [December 7, 2007, 12:49pm UTC](https://forums.speedlife.net/t/401k/39907/69 "2007-12-07T12:49:34Z")
Just a question… If NYSpeed still a car forum…or is it only politics and finances now a days? ---
**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\ **Post date:** [December 7, 2007, 12:51pm UTC](https://forums.speedlife.net/t/401k/39907/70 "2007-12-07T12:51:27Z")
Cars and discussion of financial trouble tends to go hand in hand. The politics things I have no explanation for. ---
**Author:** ![cougarspeed](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/cougarspeed/32/7468_2.png) [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)\ **Post date:** [December 7, 2007, 12:54pm UTC](https://forums.speedlife.net/t/401k/39907/71 "2007-12-07T12:54:21Z")
I like ice cream ---
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [December 7, 2007, 12:55pm UTC](https://forums.speedlife.net/t/401k/39907/72 "2007-12-07T12:55:55Z")
[quote=“Jagermeister,post:67,topic:39907"”] I don’t believe there is a cap to the percentage you can put in, just the total $ amount you can put in. When my Brother received his very first bonus from Merrill Lynch he took a small portion and maxed out his 401K in one payment. At the time it was $14.5K but it is now $15.5K [/quote] That is true. POOPRA was talking about 15% and I assumed he meant every week. ---
**Author:** ![sureshot](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/sureshot/32/7578_2.png) [@sureshot](https://forums.speedlife.net/u/sureshot)\ **Post date:** [December 7, 2007, 1:23pm UTC](https://forums.speedlife.net/t/401k/39907/73 "2007-12-07T13:23:29Z")
[quote=“FormulaLS1,post:69,topic:39907"”] Just a question… If NYSpeed still a car forum…or is it only politics and finances now a days? [/quote] While politics and finances are off-topic… it’s still better than the off topic threads created by the likes of: speedped boxxa and the king of randomness corey ( cant remember user name ) edit: furthermore the night crew still creates plenty of worthless threads such as: “when will my balls drop” “look at this [break.com](http://break.com) video of a man mutilating himself” “im a fucking pussy and my gf broke up with me” so in conclusion… I don’t mind the current daycrew offtopic sub-genres. ---
**Author:** ![LZ1](https://avatars.discourse-cdn.com/v4/letter/l/7ab992/32.png) [@LZ1](https://forums.speedlife.net/u/LZ1)\ **Post date:** [December 7, 2007, 1:24pm UTC](https://forums.speedlife.net/t/401k/39907/74 "2007-12-07T13:24:12Z")
[quote=“sureshot!,post:73,topic:39907"”] While politics and finances are off-topic… it’s still better than the off topic threads created by the likes of: speedped boxxa and the king of randomness corey ( cant remember user name ) [/quote] True… ---
**Author:** ![lx50](https://avatars.discourse-cdn.com/v4/letter/l/ccd318/32.png) [@lx50](https://forums.speedlife.net/u/lx50)\ **Post date:** [January 18, 2008, 1:49pm UTC](https://forums.speedlife.net/t/401k/39907/75 "2008-01-18T13:49:55Z")
I put in 10% of my income and my employer make a one time per year contribution of 10% of my salary plus bonus ---
**Author:** ![evilsrt](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/evilsrt/32/7470_2.png) [@evilsrt](https://forums.speedlife.net/u/evilsrt)\ **Post date:** [January 19, 2008, 8:13am UTC](https://forums.speedlife.net/t/401k/39907/76 "2008-01-19T08:13:57Z")
Most companies do have a limit on how much you can defer in to your 401k. My company is something like 90%. The limit for 2008 is $15,500. The limit for the Roth IRA increased for 2008. If you are 49 or younger the limit for a Roth IRA is $5,000, and $6,000 if you are 50 or older. I max out both and hope to retire in my mid 50’s a multi-millionaire! All depends on the market though. The company I am trying to get hired with has the highest match I have ever heard of, 100% match up to 50% of whatever you contribute. So if you max out your 401k at $15,500, the company with contribute $7,750. ---
**Author:** ![ly555is](https://avatars.discourse-cdn.com/v4/letter/l/3bc359/32.png) [@ly555is](https://forums.speedlife.net/u/ly555is)\ **Post date:** [January 19, 2008, 8:20am UTC](https://forums.speedlife.net/t/401k/39907/77 "2008-01-19T08:20:20Z")
yeah, but how long does it take until you’re fully vested? ---
**Author:** ![Matt\_Danger](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/matt_danger/32/4981_2.png) [@Matt\_Danger](https://forums.speedlife.net/u/Matt_Danger)\ **Post date:** [January 19, 2008, 8:49am UTC](https://forums.speedlife.net/t/401k/39907/78 "2008-01-19T08:49:22Z")
I guess this would be a good time to see if anyone could recommend a good financial advisor. ---
**Author:** ![maverick27](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/maverick27/32/4946_2.png) [@maverick27](https://forums.speedlife.net/u/maverick27)\ **Post date:** [January 19, 2008, 9:51am UTC](https://forums.speedlife.net/t/401k/39907/79 "2008-01-19T09:51:02Z")
> [@Zer0DazE](#): > > i am posting this example in hopes to inspire those who aren’t investing some of their money to start today > > lets say you are 18 and going to college. you toss $2000 into an ira making 12% returns. > in 42 years (that makes you 60 incase you suck at math) that will be $291,807 > not bad, but what happens if you can toss just $100 a month at it? > it becomes $1,587,906 > thats better than not bad for not a lot of money invested. > > most people here aren’t 18 though ☹ I’m 18 and thats my goal right now. $100 a month, until I get into a career type job with longterm stability and a future inside the company, then I will put more in. ---
**Author:** ![evilsrt](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/evilsrt/32/7470_2.png) [@evilsrt](https://forums.speedlife.net/u/evilsrt)\ **Post date:** [January 21, 2008, 8:09am UTC](https://forums.speedlife.net/t/401k/39907/80 "2008-01-21T08:09:51Z")
> [@ly555is](#): > > yeah, but how long does it take until you’re fully vested? fully vested after 30 days. [Previous page](https://forums.speedlife.net/t/401k/39907.md?page=3) [Next page](https://forums.speedlife.net/t/401k/39907.md?page=5)