Science Abuse Posted April 3, 2007 Report Share Posted April 3, 2007 Are you young and decades away from retirement? Don't want $X taken out of your check? Don't think the match is that big of a deal? Don't feel like thumbing through investment plans to find the best one for you? Here's some maths to move your brain: 1.5 years $50'ish a week Has gotten me over $12,000 [/larn'yoo] Quote Link to comment Share on other sites More sharing options...
Skinner Posted April 3, 2007 Report Share Posted April 3, 2007 yeah just started mine up finally but still need to go through some things and maybe talk with someone that has more expirence on what to choose plan wise. Quote Link to comment Share on other sites More sharing options...
Lustalbert Posted April 3, 2007 Report Share Posted April 3, 2007 Investing money and watching it grow FTW. Retiring a milionaire is gona be sweet :nod: Quote Link to comment Share on other sites More sharing options...
Science Abuse Posted April 3, 2007 Author Report Share Posted April 3, 2007 Investing money and watching it grow FTW. Retiring a milionaire is gona be sweet :nod: Accept the USD will only be worth 1/2 what it is now....if we're lucky. Quote Link to comment Share on other sites More sharing options...
Bam Posted April 3, 2007 Report Share Posted April 3, 2007 Forgive me if I misunderstand something, but how does approximately $3900 = over $12k? Maybe if its a 100% match, but that's still only $7800, where does the additional $4200+ come from? God knows you didn't see a 200% or greater gain in that time, or ever. Just curious...but I do agree, start young, even small and it'll add up to a nice chunk of change. Quote Link to comment Share on other sites More sharing options...
RedRocket1647545505 Posted April 3, 2007 Report Share Posted April 3, 2007 I put in $25/week into mine. Started it about 1.5 years ago as well. I rarely look at my statements, (like once every 3-4 months). I might have to open one up here again to see where i'm at. I also have an IRA setup that I put my tax returns into. It's not much, now, but hopefully it'll add up by the time I retire. Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted April 3, 2007 Report Share Posted April 3, 2007 make an appointment now...don't wait. my wife and I have been investing heavily for about 10yrs saving pretty much everything her law practice brings us and it's a very comforting feeling knowing that we'll be alright later in life....even now really. diversify your investments, that's key. when you sit with your planner he/she should outline roughly 9 or so various risk levels and areas to put money along with all types of funds and products. We've done that and continue to fund them and it seems no matter where the market is at, we're making money, some higher than others, but that's the key. now we what I can honestly say what we have is a portfolio. man I remember the day when it was just our checkbook and a few bucks in my wallet. I also remember making the call and having our first appointment with what seemed like nothing to work with. I wish I would have started at age 21. Time flys! yeah just started mine up finally but still need to go through some things and maybe talk with someone that has more expirence on what to choose plan wise. Quote Link to comment Share on other sites More sharing options...
Mr. Jones Posted April 3, 2007 Report Share Posted April 3, 2007 +1 401k FTW. Company does up to 6% match. Then, come february, we got another 2% bonus dumped into our accounts. Quote Link to comment Share on other sites More sharing options...
thorne Posted April 3, 2007 Report Share Posted April 3, 2007 I've got a question. I've got my 401k from my old company. I would like to roll it over into a Roth IRA. Who would I contact to learn how? Its only 2-5 grand. Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted April 3, 2007 Report Share Posted April 3, 2007 You can't do that type of transfer directly. You have to transfer it into a traditional IRA first. Then to put it into a Roth, you'd have to pay the taxes on it of course. Keep in mind that tax will come out of your pocket not the money from the rollover....not unless you want a penalty assessed. You could do it over time, but not all at once and then just pay tax though...but not likely worth it. Personally, look at putting it into a traditional IRA or ask about a cash value life insurance policy and then just keep funding that over time. You could contact any number of Financial Planners, CPA’s, or Attorney’s, but I would suggest a Financial Planner. The guy we work with came as a referral from a friend and has worked with Tamie and I on her business and our family stuff for years. We usually meet quarterly. He's very laid back, very good. PM me if interested. I've got a question. I've got my 401k from my old company. I would like to roll it over into a Roth IRA. Who would I contact to learn how? Its only 2-5 grand. Quote Link to comment Share on other sites More sharing options...
black00ws6 Posted April 3, 2007 Report Share Posted April 3, 2007 Smartest thing you can do.. my wife and I max ours out every year Quote Link to comment Share on other sites More sharing options...
Science Abuse Posted April 3, 2007 Author Report Share Posted April 3, 2007 Forgive me if I misunderstand something, but how does approximately $3900 = over $12k? Maybe if its a 100% match, but that's still only $7800, where does the additional $4200+ come from? God knows you didn't see a 200% or greater gain in that time, or ever. Just curious...but I do agree, start young, even small and it'll add up to a nice chunk of change. Company match is about $25/wk, the rest is my kamakze portfolio. Quote Link to comment Share on other sites More sharing options...
JaSSon Posted April 3, 2007 Report Share Posted April 3, 2007 I put in 4%, my employer matches my 4%. There is more in there than I have contributed. . Almost like free money....40 years from now. Quote Link to comment Share on other sites More sharing options...
Wease Posted April 3, 2007 Report Share Posted April 3, 2007 Smartest thing you can do.. my wife and I max ours out every year Damn straight. Retiring in my 40's with many millions FTW... Quote Link to comment Share on other sites More sharing options...
verse Posted April 3, 2007 Report Share Posted April 3, 2007 I started mine the moment I turned 21. I put in 10% of my pay and my company kicks 3% in. Quote Link to comment Share on other sites More sharing options...
OSUGT Posted April 3, 2007 Report Share Posted April 3, 2007 Are you young and decades away from retirement? Don't want $X taken out of your check? Don't think the match is that big of a deal? Don't feel like thumbing through investment plans to find the best one for you? Here's some maths to move your brain: 1.5 years $50'ish a week Has gotten me over $12,000 [/larn'yoo] damn the republicans and this shitty economy! Quote Link to comment Share on other sites More sharing options...
Mr. Jones Posted April 3, 2007 Report Share Posted April 3, 2007 Forgive me if I misunderstand something, but how does approximately $3900 = over $12k? Maybe if its a 100% match, but that's still only $7800, where does the additional $4200+ come from? God knows you didn't see a 200% or greater gain in that time, or ever. Just curious...but I do agree, start young, even small and it'll add up to a nice chunk of change. Well, you figure between matches and his contribution's he's @ $8000+ The rest is interest. We have seen 20%+ over the last few years. Quote Link to comment Share on other sites More sharing options...
Gergwheel1647545492 Posted April 3, 2007 Report Share Posted April 3, 2007 I put in 8% and my company puts in another 13%. OPERS FTW! Quote Link to comment Share on other sites More sharing options...
Jackson1647545504 Posted April 3, 2007 Report Share Posted April 3, 2007 I put in 8% and my company puts in another 13%. OPERS FTW! Same, working at OSU FTW !! Quote Link to comment Share on other sites More sharing options...
Jelloman4571647545499 Posted April 4, 2007 Report Share Posted April 4, 2007 I put in 8% and am matched up to 10% if need be. Started at 19 when I was at Home Depot and just switched it when I quit there. Nows its with my cousin and he is playing with it. I have right around 11k. Also twin savings accounts deducted from my pay with matching. Twin accounts have about 6k a piece. Quote Link to comment Share on other sites More sharing options...
LJ Posted April 4, 2007 Report Share Posted April 4, 2007 Same, working at OSU FTW !! Yeah, my brother in law works at the supercomputer center... he was telling me the retirement he gets, it is ridiculous. I thought my 5% + 100% match + FERS was good Quote Link to comment Share on other sites More sharing options...
6 Speed S4 Posted April 4, 2007 Report Share Posted April 4, 2007 I just started my retirement fund today actually Quote Link to comment Share on other sites More sharing options...
RangerTurbo Posted April 4, 2007 Report Share Posted April 4, 2007 I keep my money in glass jars hidden around the house. Quote Link to comment Share on other sites More sharing options...
400 HO Posted April 4, 2007 Report Share Posted April 4, 2007 My current status... $200 bucks a month + 4% company match for 4 years = $38,000 401k FTMFW!!! (too bad I'm going to have to liquidate it to pay for my divorce!!) FTL!!! Quote Link to comment Share on other sites More sharing options...
Tractor Posted April 5, 2007 Report Share Posted April 5, 2007 yeah 401K ain't a bad deal even if the match ain't that great my company only matches 25% on the dollar up to 4% of my income. The good part is on 25% your already beating the indexes and on top of that you get the growth of the fund which usually meets or exceeds the indexes which are normally around 11%, but there are good years and bad years. I'd start a 401K, but I just can't pull myself to do it yet. I do invest in stocks as a hobby and have followed the markets ever since I could read. If I did do a 401K I'd drive the accountants mad from all my calls to switch stuff around. Thats the only real way to win with a 401K you gotta stay on top of it. Some years when things aren't doing well you gotta switch to lower risk/return items such as bonds, finacial institutions, and the big dawgs like GE. When the market gets healthier you gotta be in the risky stuff growing your money like mad. Don't just let it sit and never check on it, but don't bother checking on it weekly or even monthly. Maybe 2 times a year would be a good time to check on things and then keep your ears open over the years for good/bad news and I"m not talking mainstream media crap. Even reading Yahoo's finacial page will give you much more info about whats going on. Lots of day traders swear by yahoo for there info. Evan Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.