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Posted by DIRTY SALLY (Member # 7845) on :
 
do any of you guys have a 401k plan? and whos it threw?
 

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Posted by Slowback67 (Member # 6348) on :
 
My work uses Edward Jones. My works max is 3.5 & I put 8% in myself.
 

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Posted by adower (Member # 5955) on :
 
My company uses fidelity. They match 5% up to 5000$. I put in 22%.

[ December 08, 2011, 09:40 AM: Message edited by: adower ]
 

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Posted by gohardgohome (Member # 9803) on :
 
T.Rowe Price !
 

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Posted by 9cobra7 (Member # 2812) on :
 
I don't think it's a good idea to do a 401k at all, look at what many of them are worth now.
Why do you think companies want you put money in to them so bad it's because its in there interest not yours? Again really look at this question I'm asking.
There taking your money and playing with it, wouldn't you rather take your own money and do what you want with it?
I own a business so I can't and wouldn't regardless if I had the option. People are hoping that money will be there when it's time to get it and look what happened recently when the hard times hit and people went to get whats left of that 401k. Oops sorry it's not there, it's really a big financial scheme. Look into it a bit is all I'm saying there are way better ways to plan for the future.
Even by the time you retire the 401k isn't worth much at all, even if you are lucky enough to get the full amount, so what's the point? Then if you need the money for some emergency you get penalized for taking it out which is what happened to a few people I know in these tough financial times.
Be smart and manage your own money , be in charge of your future not someone else.
It should be a 601k now because 401k is not much these days and won't get you far when you retire. 401 used to a decent number but when you hit the retiring age of 65 and medicare is gone and gas is $8 a gallon you'll need a lot more money. It'll be gone so quick you'll forget you ever had a 401k.
Good luck
 

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Posted by venomous99 (Member # 1917) on :
 
for those thinking is a bad investment think twice..
u do realize this is a long term investment and historically u will make profit on what u put in not to mention the cash you're putting in is pre taxed and often is matched by your employer.

a person not doing 401k is a fool....either that or is uneducated on what the actual benefits are.

previous employer matched 1.5x up to 6%(i.e 4% contribution equotes to them matching 6%). if ur getting a match from ur company that should be more reason to do this unless youre in a financial bind
 

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Posted by Luke87GT (Member # 21) on :
 

quote:

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Originally posted by 9cobra7:
I don't think it's a good idea to do a 401k at all, look at what many of them are worth now.
Why do you think companies want you put money in to them so bad it's because its in there interest not yours? Again really look at this question I'm asking.
There taking your money and playing with it, wouldn't you rather take your own money and do what you want with it?
I own a business so I can't and wouldn't regardless if I had the option. People are hoping that money will be there when it's time to get it and look what happened recently when the hard times hit and people went to get whats left of that 401k. Oops sorry it's not there, it's really a big financial scheme. Look into it a bit is all I'm saying there are way better ways to plan for the future.
Even by the time you retire the 401k isn't worth much at all, even if you are lucky enough to get the full amount, so what's the point? Then if you need the money for some emergency you get penalized for taking it out which is what happened to a few people I know in these tough financial times.
Be smart and manage your own money , be in charge of your future not someone else.
It should be a 601k now because 401k is not much these days and won't get you far when you retire. 401 used to a decent number but when you hit the retiring age of 65 and medicare is gone and gas is $8 a gallon you'll need a lot more money. It'll be gone so quick you'll forget you ever had a 401k.
Good luck

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Do the opposite of this.

And typicaly don't take financial advise from cafords

- 401K is tax free

- Our current economic crisis is a blip in the 401K plot representing the duration of your life (at least up to the point you are eligible to start using that money)

- Most of us are not good at saving, so a 401K is good insurance in the worst possible case - you not making wise investment choices during your life.

- If your company offers 401K, get involved in it, take advantage of any amount of money they are willing to match, and put as much into it as you can afford.

- Look up the term "compound interest" and get involved as soon as possible.

Best of luck.
 

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Posted by Camara90 (Member # 134) on :
 

quote:

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Originally posted by Luke87GT:

quote:

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Originally posted by 9cobra7:
I don't think it's a good idea to do a 401k at all, look at what many of them are worth now.
Why do you think companies want you put money in to them so bad it's because its in there interest not yours? Again really look at this question I'm asking.
There taking your money and playing with it, wouldn't you rather take your own money and do what you want with it?
I own a business so I can't and wouldn't regardless if I had the option. People are hoping that money will be there when it's time to get it and look what happened recently when the hard times hit and people went to get whats left of that 401k. Oops sorry it's not there, it's really a big financial scheme. Look into it a bit is all I'm saying there are way better ways to plan for the future.
Even by the time you retire the 401k isn't worth much at all, even if you are lucky enough to get the full amount, so what's the point? Then if you need the money for some emergency you get penalized for taking it out which is what happened to a few people I know in these tough financial times.
Be smart and manage your own money , be in charge of your future not someone else.
It should be a 601k now because 401k is not much these days and won't get you far when you retire. 401 used to a decent number but when you hit the retiring age of 65 and medicare is gone and gas is $8 a gallon you'll need a lot more money. It'll be gone so quick you'll forget you ever had a 401k.
Good luck

---

Do the opposite of this.

And typicaly don't take financial advise from cafords

- 401K is tax free

- Our current economic crisis is a blip in the 401K plot representing the duration of your life (at least up to the point you are eligible to start using that money)

- Most of us are not good at saving, so a 401K is good insurance in the worst possible case - you not making wise investment choices during your life.

- If your company offers 401K, get involved in it, take advantage of any amount of money they are willing to match, and put as much into it as you can afford.

- Look up the term "compound interest" and get involved as soon as possible.

Best of luck.

---

quote:

---

Originally posted by Luke87GT:

quote:

---

Originally posted by 9cobra7:
I don't think it's a good idea to do a 401k at all, look at what many of them are worth now.
Why do you think companies want you put money in to them so bad it's because its in there interest not yours? Again really look at this question I'm asking.
There taking your money and playing with it, wouldn't you rather take your own money and do what you want with it?
I own a business so I can't and wouldn't regardless if I had the option. People are hoping that money will be there when it's time to get it and look what happened recently when the hard times hit and people went to get whats left of that 401k. Oops sorry it's not there, it's really a big financial scheme. Look into it a bit is all I'm saying there are way better ways to plan for the future.
Even by the time you retire the 401k isn't worth much at all, even if you are lucky enough to get the full amount, so what's the point? Then if you need the money for some emergency you get penalized for taking it out which is what happened to a few people I know in these tough financial times.
Be smart and manage your own money , be in charge of your future not someone else.
It should be a 601k now because 401k is not much these days and won't get you far when you retire. 401 used to a decent number but when you hit the retiring age of 65 and medicare is gone and gas is $8 a gallon you'll need a lot more money. It'll be gone so quick you'll forget you ever had a 401k.
Good luck

---

Do the opposite of this.

And typicaly don't take financial advise from cafords

- 401K is tax free

- Our current economic crisis is a blip in the 401K plot representing the duration of your life (at least up to the point you are eligible to start using that money)

- Most of us are not good at saving, so a 401K is good insurance in the worst possible case - you not making wise investment choices during your life.

- If your company offers 401K, get involved in it, take advantage of any amount of money they are willing to match, and put as much into it as you can afford.

- Look up the term "compound interest" and get involved as soon as possible.

Best of luck.

---

 

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Posted by turbo50 (Member # 6700) on :
 

quote:

---

Originally posted by Camara90:

quote:

---

Originally posted by Luke87GT:

quote:

---

Originally posted by 9cobra7:
I don't think it's a good idea to do a 401k at all, look at what many of them are worth now.
Why do you think companies want you put money in to them so bad it's because its in there interest not yours? Again really look at this question I'm asking.
There taking your money and playing with it, wouldn't you rather take your own money and do what you want with it?
I own a business so I can't and wouldn't regardless if I had the option. People are hoping that money will be there when it's time to get it and look what happened recently when the hard times hit and people went to get whats left of that 401k. Oops sorry it's not there, it's really a big financial scheme. Look into it a bit is all I'm saying there are way better ways to plan for the future.
Even by the time you retire the 401k isn't worth much at all, even if you are lucky enough to get the full amount, so what's the point? Then if you need the money for some emergency you get penalized for taking it out which is what happened to a few people I know in these tough financial times.
Be smart and manage your own money , be in charge of your future not someone else.
It should be a 601k now because 401k is not much these days and won't get you far when you retire. 401 used to a decent number but when you hit the retiring age of 65 and medicare is gone and gas is $8 a gallon you'll need a lot more money. It'll be gone so quick you'll forget you ever had a 401k.
Good luck

---

Do the opposite of this.

And typicaly don't take financial advise from cafords

- 401K is tax free

- Our current economic crisis is a blip in the 401K plot representing the duration of your life (at least up to the point you are eligible to start using that money)

- Most of us are not good at saving, so a 401K is good insurance in the worst possible case - you not making wise investment choices during your life.

- If your company offers 401K, get involved in it, take advantage of any amount of money they are willing to match, and put as much into it as you can afford.

- Look up the term "compound interest" and get involved as soon as possible.

Best of luck.

---

Exactly, plus you can always choose how aggressive you want your 401k to be. In most cases a conservative 401k even in a bad market is really safe. At least with this option you are offsetting your taxable income, and taking advantage of free money from your employer.

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quote:

---

Originally posted by 9cobra7:
I don't think it's a good idea to do a 401k at all, look at what many of them are worth now.
Why do you think companies want you put money in to them so bad it's because its in there interest not yours? Again really look at this question I'm asking.
There taking your money and playing with it, wouldn't you rather take your own money and do what you want with it?
I own a business so I can't and wouldn't regardless if I had the option. People are hoping that money will be there when it's time to get it and look what happened recently when the hard times hit and people went to get whats left of that 401k. Oops sorry it's not there, it's really a big financial scheme. Look into it a bit is all I'm saying there are way better ways to plan for the future.
Even by the time you retire the 401k isn't worth much at all, even if you are lucky enough to get the full amount, so what's the point? Then if you need the money for some emergency you get penalized for taking it out which is what happened to a few people I know in these tough financial times.
Be smart and manage your own money , be in charge of your future not someone else.
It should be a 601k now because 401k is not much these days and won't get you far when you retire. 401 used to a decent number but when you hit the retiring age of 65 and medicare is gone and gas is $8 a gallon you'll need a lot more money. It'll be gone so quick you'll forget you ever had a 401k.
Good luck

---

quote:

---

Originally posted by DIRTY SALLY:

quote:

---

Originally posted by 9cobra7:
I don't think it's a good idea to do a 401k at all, look at what many of them are worth now.
Why do you think companies want you put money in to them so bad it's because its in there interest not yours? Again really look at this question I'm asking.
There taking your money and playing with it, wouldn't you rather take your own money and do what you want with it?
I own a business so I can't and wouldn't regardless if I had the option. People are hoping that money will be there when it's time to get it and look what happened recently when the hard times hit and people went to get whats left of that 401k. Oops sorry it's not there, it's really a big financial scheme. Look into it a bit is all I'm saying there are way better ways to plan for the future.
Even by the time you retire the 401k isn't worth much at all, even if you are lucky enough to get the full amount, so what's the point? Then if you need the money for some emergency you get penalized for taking it out which is what happened to a few people I know in these tough financial times.
Be smart and manage your own money , be in charge of your future not someone else.
It should be a 601k now because 401k is not much these days and won't get you far when you retire. 401 used to a decent number but when you hit the retiring age of 65 and medicare is gone and gas is $8 a gallon you'll need a lot more money. It'll be gone so quick you'll forget you ever had a 401k.
Good luck

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yea i understand where your coimging from but its account that i inherated from my dad passing and i rolled it into my name. but i made a mistake doing this and i rolled into a benfencal 401k where every year i found out they send me a certtin amount of money out of there 401 every year. and i dont want this.

so the only reason i asked becasue there might be somebody on here whos alot older and understands investing money. im going to roll over this account into an ira. with fidelity.

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Oh I see, well can't help you there.
The 401k is designed for the average person and it will take you just so far. This is why they make it so enticing by not taxing it so you opt for it and allow whatever company you work for to put it in the stock market. Why wouldn't you get somewhat educated and do this yourself? Then make all the money for yourself.
Do you really think anyone of these companies "cares" about you ? If you think they do you need to be checked into a psych ward, your just a number. You can expect to have 7 different professions in your life time, 7. Those are statistics from 10 years ago.
You think any rich people invest in a 401k? Unless those people invested in something else along the way you'll be financially average at best with this program, trust me.
People say there isn't inflation, there's always inflation. what ddi you get for a buck in the 80's, then the 90's, 2000's and now what do get with a buck?
One of the arguments above was most people can't manage money, he's right. Hardly anyone knows how to do that but that's on the "average" individual to learn about money. Who's fault is that? If your not responsible you will be one of the 90% if that's what you want.
I'm not going to argue about this with above just stating the not average point of view which I'm not going to share often. It's like the people in there unions who are stuck in one, they have to believe in them because they are being forced to put there money into but a 401k is not forced; once your in it you want to believe it's good for you especially if your 10 years or more into it.
Look at the value of the dollar then and where it is now, you tell me what it's going to be worth when you retire?!
 

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Posted by 9cobra7 (Member # 2812) on :
 
BTW most people have no idea how money really works and I myself am always learning.
When that 401k finally matures again what's it worth? It's not worth double I tell you because because now I can only buy half a gallon of gas for $4 , my happy meal doubled, all my new taxes are due etc etc. Everything you buy will cost way more and nobodies salary (except a few) goes up with the real cost of living. Your not far from square one when you first got into it than when you pull your money out. Again compare prices from the 80's to now? It comes down to simple math, really. Look into the future and compare the past, think for a second.
That is all, the rest you have to pay for
 

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Posted by SmallBlock Speeder (Member # 11220) on :
 
I think i have whats called a 457 plan or some shit works a little different we also have a pension plan on top of that
 

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Posted by Luke87GT (Member # 21) on :
 

quote:

---

Originally posted by 9cobra7:
BTW most people have no idea how money really works and I myself am always learning.
When that 401k finally matures again what's it worth? It's not worth double I tell you because because now I can only buy half a gallon of gas for $4 , my happy meal doubled, all my new taxes are due etc etc. Everything you buy will cost way more and nobodies salary (except a few) goes up with the real cost of living. Your not far from square one when you first got into it than when you pull your money out. Again compare prices from the 80's to now? It comes down to simple math, really. Look into the future and compare the past, think for a second.
That is all, the rest you have to pay for

---

quote:

---

Originally posted by Luke87GT:

quote:

---

Originally posted by 9cobra7:
BTW most people have no idea how money really works and I myself am always learning.
When that 401k finally matures again what's it worth? It's not worth double I tell you because because now I can only buy half a gallon of gas for $4 , my happy meal doubled, all my new taxes are due etc etc. Everything you buy will cost way more and nobodies salary (except a few) goes up with the real cost of living. Your not far from square one when you first got into it than when you pull your money out. Again compare prices from the 80's to now? It comes down to simple math, really. Look into the future and compare the past, think for a second.
That is all, the rest you have to pay for

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Interest will compound and inflation will never go away. What's your point?

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quote:

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Originally posted by 9cobra7:

quote:

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Originally posted by Luke87GT:

quote:

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Originally posted by 9cobra7:
[qb] BTW most people have no idea how money really works and I myself am always learning.
When that 401k finally matures again what's it worth? It's not worth double I tell you because because now I can only buy half a gallon of gas for $4 , my happy meal doubled, all my new taxes are due etc etc. Everything you buy will cost way more and nobodies salary (except a few) goes up with the real cost of living. Your not far from square one when you first got into it than when you pull your money out. Again compare prices from the 80's to now? It comes down to simple math, really. Look into the future and compare the past, think for a second.
That is all, the rest you have to pay for [/]

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Interest will compound and inflation will never go away. What's your point?

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Ultimately your going to make a little or break even when you 401k matures, if you do the math. If all goes well that is and you don't get one of those statements that tells you currently your 401k is worth half of what it was. Take the money you would've put into the 401k, monthly, quarterly, yearly however you want to and invest it yourself, just like they would do. If your to lazy, or you want that new t.v. mustang etc, that's on you.
Read a book, buy a dvd, take a class on money and how to make it work for you, not someone who could give a rats ass about you. Fire and re-hire, your a totally dispensable commodity in the grand scheme.
Why else would they punish you 10% if you need to take your own money out right now if you need it for some emergency. You know how many people don't work and needed to tap the 401k and already lost a bunch of money because of this fiscal emergency?
Don't just go to church because your parents tell you to, know why your there. Your praying to something you can't feel, see, hear or touch yet you go every week. Understand really why your putting money into a 401k and what's my result 30-40 years away.

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quote:

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Originally posted by adower:

quote:

---

Originally posted by 9cobra7:

quote:

---

Originally posted by Luke87GT:

quote:

---

Originally posted by 9cobra7:
[qb] BTW most people have no idea how money really works and I myself am always learning.
When that 401k finally matures again what's it worth? It's not worth double I tell you because because now I can only buy half a gallon of gas for $4 , my happy meal doubled, all my new taxes are due etc etc. Everything you buy will cost way more and nobodies salary (except a few) goes up with the real cost of living. Your not far from square one when you first got into it than when you pull your money out. Again compare prices from the 80's to now? It comes down to simple math, really. Look into the future and compare the past, think for a second.
That is all, the rest you have to pay for [/]

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Interest will compound and inflation will never go away. What's your point?

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Ultimately your going to make a little or break even when you 401k matures, if you do the math. If all goes well that is and you don't get one of those statements that tells you currently your 401k is worth half of what it was. Take the money you would've put into the 401k, monthly, quarterly, yearly however you want to and invest it yourself, just like they would do. If your to lazy, or you want that new t.v. mustang etc, that's on you.
Read a book, buy a dvd, take a class on money and how to make it work for you, not someone who could give a rats ass about you. Fire and re-hire, your a totally dispensable commodity in the grand scheme.
Why else would they punish you 10% if you need to take your own money out right now if you need it for some emergency. You know how many people don't work and needed to tap the 401k and already lost a bunch of money because of this fiscal emergency?
Don't just go to church because your parents tell you to, know why your there. Your praying to something you can't feel, see, hear or touch yet you go every week. Understand really why your putting money into a 401k and what's my result 30-40 years away.

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You are going to make a little or break even? 30 years plus compound interest tells me different.

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quote:

---

Originally posted by 9cobra7:

quote:

---

Originally posted by adower:

quote:

---

Originally posted by 9cobra7:

quote:

---

Originally posted by Luke87GT:

quote:

---

Originally posted by 9cobra7:
[qb] BTW most people have no idea how money really works and I myself am always learning.
When that 401k finally matures again what's it worth? It's not worth double I tell you because because now I can only buy half a gallon of gas for $4 , my happy meal doubled, all my new taxes are due etc etc. Everything you buy will cost way more and nobodies salary (except a few) goes up with the real cost of living. Your not far from square one when you first got into it than when you pull your money out. Again compare prices from the 80's to now? It comes down to simple math, really. Look into the future and compare the past, think for a second.
That is all, the rest you have to pay for [/]

---

Interest will compound and inflation will never go away. What's your point?

---

Ultimately your going to make a little or break even when you 401k matures, if you do the math. If all goes well that is and you don't get one of those statements that tells you currently your 401k is worth half of what it was. Take the money you would've put into the 401k, monthly, quarterly, yearly however you want to and invest it yourself, just like they would do. If your to lazy, or you want that new t.v. mustang etc, that's on you.
Read a book, buy a dvd, take a class on money and how to make it work for you, not someone who could give a rats ass about you. Fire and re-hire, your a totally dispensable commodity in the grand scheme.
Why else would they punish you 10% if you need to take your own money out right now if you need it for some emergency. You know how many people don't work and needed to tap the 401k and already lost a bunch of money because of this fiscal emergency?
Don't just go to church because your parents tell you to, know why your there. Your praying to something you can't feel, see, hear or touch yet you go every week. Understand really why your putting money into a 401k and what's my result 30-40 years away.

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You are going to make a little or break even? 30 years plus compound interest tells me different.

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Correct, because now you have to pay your taxes, which are now higher, and your dollar is worth way less than it was.
There was a time not to long ago that one parent went to work and brought home the bacon, now both parents working can bring just enough bacon home in the average American family.

Many times you have to look to the past to see the future.

Hey, I'm trying to start an argument, I'm looking out for the regular American because I came from that. The op wanted an opinion, I gave it and could care less if someone called my opinions idiotic. Some of you may want to look at what is happening to your money. What's your ROI in this deal if you see it all?

Some of you may remember when 100k was a lot of money?

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quote:

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Originally posted by Cobra 93-4992:
Contribute if they match and contribute the max they match and i'd leave it at that. Dont forget you have that money there too when you get fired or quit.

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