401K, 403b, and ROTH people....?

[street pilot]

Put as much % into your 401K as needed to get the max. company match.

Then contribute your limit into Roth if you have enough.

Remainder in other investments.

[Doug1647545489]

I split mine up. 50% 401K (no matching which blows), 25% in other mutual funds, and the other 25% is my play money in the stock market.

 

I'd do a Roth instead of the mutuals funds, but I want to be able to use that money for a downpayment for a house at some point. I believe there is a penalty for withdrawing from a Roth early.

[Conesmasher]

1.) Match the 401(k) match = 100% return

2.) Contribute to Roth IRA to highest possible amount.

3.) If you can max out a Roth IRA, congrats, max out your 401(k) now.

4.) If you've got more than this to dish out which is $20,000/year....consider hiring a professional money manager

[Linc5.0]

Im self employed so i have a SEP- ira....as I recall you can put up to 46k a year into or 25% of compensation,whichever is less. FTW!

[Putty]

I save a hell of a lot more than 15k... but in a variety of investment packages.

 

-What-

 

 

Oh well hell....That's only 6% where I am. I over double that.

[Prodeje79]

Where is your maxima????

 

OK back on topic....

Since Nationwide started offering the 401k and the ROTH option, I have been putting in 6% into each.

 

I have always thought about getting an accountant/financial planner. I can never decide who to see. This sounds crazy, but for some reason I picture that there is no good finanicial planner....if they were so good at it, they would be rich and wouldn't need to do it for others? I don't know! I am sure that is been debunked before, I just don't know what i want to do.

[Putty]

Where is your maxima????.

 

Spohn!!!

 

Leased....by by!....So I ended up with this Impala....BUT due to gas and a supercharger, as of yesterday, I have a Maxima again....lol.

 

This sounds crazy, but for some reason I picture that there is no good finanicial planner....if they were so good at it, they would be rich and wouldn't need to do it for others? .

 

LoL...That makes sense

[HotCarl]

Im self employed so i have a SEP- ira....as I recall you can put up to 46k a year into or 25% of compensation,whichever is less. FTW!

 

Explain!

 

I always read your max IRA/Roth contribution per year was 4k, going up to 5k in 2008.

 

EDIT: Not to say you cant invest it elsewhere of course.

[iwishiwascool]

Explain!

 

I always read your max IRA/Roth contribution per year was 4k, going up to 5k in 2008.

 

EDIT: Not to say you cant invest it elsewhere of course.

 

SEP IRA is fairly different from a roth or traditional... is Wikipedia not working for you today?

[iwishiwascool]

P.S. The forthcoming market (real estate, stock, commodities, etc.) is where millionaires are made. People don't get wealthy trading/buying in a peak economy.

 

Had you shorted just 1000 shares of Bear Stearns on Friday, you would have netted $28000 tomorrow morning.

 

There are something like 30,000 properties in inventory in Columbus. 6 more months on the market, prices will fall even more. Scoop up a handful of properties, rent them out to a few of the thousands of people being foreclosed on, hold until a rebound, reap the profit.