<#webadvjs#>

Announcement

Collapse
No announcement yet.

Help With 401k????? Im Clueless

Collapse
  • Filter
  • Time
  • Show
Clear All
new posts
    #1

    Help With 401k????? Im Clueless

    SO I got a new job, and want to put like 5% away a month just to start somewhere for my savings. They will match that 100%, so that sounds good to me.

    I was wondering if interest is gained off of that? Will I gain interest on that money or what? Im so confused about that?

    Do I have to invest it to gain interest, or does it just gain a certain amount of interest, and if so how much?
    #2
    Theoretically speaking, yes.

    However, don't contribute to your 401K. The **** is a pure gamble. Invest your money yourself

    Comment

      #3
      You should also be able to pick which Funds to invest in. Make sure they are Large Mutual funds that are Growth funds.

      I would start out just matching what your company matches. If they Match up to 5% then you put in 5%

      My company matches 6% and I put in 8% every pay period.

      I also have is spread out into 7 different stocks.

      Comment

        #4
        Originally posted by ƒallenloki View Post
        Theoretically speaking, yes.

        However, don't contribute to your 401K. The **** is a pure gamble. Invest your money yourself
        DO NOT LISTEN TO THIS!!!!!!!!

        That is the first thing you should do.

        Whatever the company will match up to you put in that amount. No investment you could possibly do would give you free money, NONE, not one, ever.

        Sorry Fallen....

        I've got credentials (MBA in Finance, x-financial planner etc). What you should do all depends on how old you are right now. PM me.

        Comment

          #5
          They match 100% up to 5%. So thats what I want to do.

          I just started my first day of employment, and I have to wait 90 days to open it.

          So they do have this thing called the Vanguard Target Retirement Fund. It's just a simple investment plan so I don't have to worry about investing myself. I put my 5% in, they match it, and the funds based on my age are invested in 10% Bonds, and 90% stocks.

          Does that sound like a good or bad idea?

          Also. Some explain this to me.

          "Company matching contributions, and associated earnings become 100% vested after you have completed two years of vesting service with the company"

          Comment

            #6
            Originally posted by Walt Liquor View Post
            DO NOT LISTEN TO THIS!!!!!!!!

            That is the first thing you should do.

            Whatever the company will match up to you put in that amount. No investment you could possibly do would give you free money, NONE, not one, ever.

            Sorry Fallen....

            I've got credentials (MBA in Finance, x-financial planner etc). What you should do all depends on how old you are right now. PM me.
            Listen to Walt.

            Just ignore the PM part.

            He's an ex-financial planner so he might try to charge you for the advice.

            Comment

              #7
              I have Vanguard also. However I changed it around a bit. For the Retirment plan I have it 48% Vang, 41% Pimco, 6% Dodge & Cox, then the rest in mid cap value funds.

              I just like to spread mine out a little. Makes me feel like I don't have all my eggs in 1 basket.

              The 401k part of my plan is spread out even more but most are growth stock mutual funds.

              Comment

                #8
                Originally posted by +The|Razor+ View Post
                I have Vanguard also. However I changed it around a bit. For the Retirment plan I have it 48% Vang, 41% Pimco, 6% Dodge & Cox, then the rest in mid cap value funds.

                I just like to spread mine out a little. Makes me feel like I don't have all my eggs in 1 basket.

                The 401k part of my plan is spread out even more but most are growth stock mutual funds.
                How much interests are you gaining each year percentage wise?

                Comment

                  #9
                  Originally posted by ƒallenloki View Post
                  Theoretically speaking, yes.

                  However, don't contribute to your 401K. The **** is a pure gamble. Invest your money yourself
                  What kind of dumbass advice is this?

                  You should also open up a Roth IRA and put the max you're allowed to put in.

                  Comment

                    #10
                    Originally posted by BoxingFanFirst View Post
                    How much interests are you gaining each year percentage wise?
                    one of the things you don't want to get caught up in on your 401k is what your yearly returns are. this is a long terrm investment. all you need to know is what the funds have done long term. 401k $ is money to put away and forget about.

                    100% up to 5% is REALLY good.

                    vanguard is a traditionally conservative investment company with pretty low expenses. They are a company I would recommend, but like the other poster said, spread it out. those target retirement funds are "dumbed down" and typically underperform riskier ventures over the long haul, BUT they are also a little more protected in tough times. Diversification and being aggressive is the game you want to play in your 401k

                    EX financial planners make no money off their advice,

                    now if you want to buy insurance, we are talking a whole different ballgame.

                    Comment

                    Working...
                    X
                    TOP