# What's a 401K?
**URL:** https://forums.speedlife.net/t/whats-a-401k/54896
**Category:** NYSpeed Off Topic
**Created:** [September 14, 2008, 4:28pm UTC](https://forums.speedlife.net/t/whats-a-401k/54896 "2008-09-14T16:28:43Z")
**Posts on this page:** 8
**Page:** 1
### Author:  [@Daddie](https://forums.speedlife.net/u/Daddie)
#### Post date: [September 14, 2008, 4:28pm UTC](https://forums.speedlife.net/t/whats-a-401k/54896/1 "2008-09-14T16:28:43Z")
S&P futres - down fucking 3.2%
Lehman is really going away. They are fucked.
Bank of America taking over Merrill fuck them hard…
Get ready for another fucked up week yo
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### Author:  [@Willybeen](https://forums.speedlife.net/u/Willybeen)
#### Post date: [September 14, 2008, 4:35pm UTC](https://forums.speedlife.net/t/whats-a-401k/54896/2 "2008-09-14T16:35:57Z")
Makes fixed products look better everyday.
… tax deferred annuities paying out 5.75% guaranteed. 3 years.
Sucks, i just started contributing 15% to my 401k. eek.
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### Author:  [@Locutus](https://forums.speedlife.net/u/Locutus)
#### Post date: [September 14, 2008, 4:40pm UTC](https://forums.speedlife.net/t/whats-a-401k/54896/3 "2008-09-14T16:40:52Z")
401k’s are long term for a reason son!
dont log in to check it for 6 months 🙂
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### Author:  [@j\_espo1](https://forums.speedlife.net/u/j_espo1)
#### Post date: [September 14, 2008, 4:46pm UTC](https://forums.speedlife.net/t/whats-a-401k/54896/4 "2008-09-14T16:46:43Z")
> [@Locutus](#):
>
> 401k’s are long term for a reason son!
>
> dont log in to check it for 6 months 🙂
.
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### Author:  [@JustinH](https://forums.speedlife.net/u/JustinH)
#### Post date: [September 14, 2008, 4:56pm UTC](https://forums.speedlife.net/t/whats-a-401k/54896/5 "2008-09-14T16:56:22Z")
Real estate is still the best bang for the buck fellas.
Especially in this area…
My income properties pay way more than my 401k does, and I’m up to 12% (6% contribution, with 100 match) at work…
I have moved most of my 401k into bonds, everything else is getting its ass kicked.
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### Author:  [@rage87](https://forums.speedlife.net/u/rage87)
#### Post date: [September 14, 2008, 6:30pm UTC](https://forums.speedlife.net/t/whats-a-401k/54896/6 "2008-09-14T18:30:25Z")
> [@JustinH](#):
>
> Real estate is still the best bang for the buck fellas.
>
> Especially in this area…
>
> My income properties pay way more than my 401k does, and I’m up to 12% (6% contribution, with 100 match) at work…
>
> I have moved most of my 401k into bonds, everything else is getting its ass kicked.
Same. And with Merrill getting bought and Lehman supposedly going to be getting bought out online savings accounts don’t seem to bad to me right now. I remember earlier this year I was down 13.6% on my 401k. It’s gotten better since switching to bonds, though.
Washington-Mutual is taking a shit too. That might not affect you guys in NY too much but it’s a popular bank out here with an attractive rate on a savings account (3.75%). You know a company is doing bad when they are offering 5% CDs right now.
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### Author:  [@Willybeen](https://forums.speedlife.net/u/Willybeen)
#### Post date: [September 14, 2008, 6:34pm UTC](https://forums.speedlife.net/t/whats-a-401k/54896/7 "2008-09-14T18:34:02Z")
Why do people do CD’s @ 5% when there are tax deferred vehicles that are bringing in a more attractive return.
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### Author:  [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)
#### Post date: [September 14, 2008, 8:03pm UTC](https://forums.speedlife.net/t/whats-a-401k/54896/8 "2008-09-14T20:03:45Z")
LOL I just moved a bunch of sidelined cash back into the market last week too. Oh well its still a fun ride!