401K
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- 22 Responses
- CincodeMayo
Any tips on starting one? I have a meeting about it today. I'm 27, so I know I should be aggressive, but I have no idea how to divide it up. Anyone do this recently? I don't think my company offers matching or anything...
- ********0
Start roth 401k.
- mg330
DON'T LOOK AT WHAT YOU'RE EARNING FOR AT LEAST A YEAR IN THIS HORRID ECONOMY.
- stop yelling.********
- Ah! Your capitals! They're blinding me so much I can't hear straight!!TheBlueOne
- stop yelling.
- ********0
Visit a financial advisor for a free consultation. I use Fidelity Investments, they have done a decent job with my 401k plan to date, good luck.
Here are few firms:
https://www.fidelity.com
http://www.principal.com
http://www.td.com
https://www.chase.com- you could add charles schwab but i havent been that happy with them. they have stale research.johngrif
- ********0
I've been fully vested for 5 years and haven't put anything into my 401K except the company match or whatever.
I'll be dead way before I can touch that money.
- lvl_130
mine has lost 44% of it's total value in the last 6 months.
sweet!
- CincodeMayo0
So is it worth doing? I can't afford to put a whole lot in at the moment...is there a minimum I should start with?
- ********0
I know absolutely nothing, but I'd say no unless you go crazy aggressive. Probably better off playing the stock market yourself.
Signed,
I am not good with money.- playing the stock market is pointless if you dont' have a ton of money to invest.********
- playing the stock market is pointless if you dont' have a ton of money to invest.
- zenmasterfoo0
It's worth it. And even though mg33 was screaming it, he's right. It's a long term investment not something you drag cash out of every week to offset your drug habits. Your company will supply you with their portfolio selections. Don't look at numbers so much as the kind of investing you would be comfortable with...safe, moderate, aggressive.
- ********0
oh yea, and if your company doesn't match or help out with your 401k there is NO REASON to start one. there are much better ways to save for retirement while shirking taxes in the long run (roth ira for example) - ppl above are right, times are fucked economically, even MORE reason to ask an educated person with training on this subject what you should do...
- robotron3k0
- gold is good toozenmasterfoo
- gold has gone down 300 $ from it's high in only the last couple of months,********
- canuck0
Yeah, think about long term. My rrsps (Canadian thing, similar to your 401k), have been hurting this year. But in the long run it should come back.
Also look into a higher interest savings account too, not sure what they offer in the US, make sure you are saving an emergency fund.
- TheFatBaron0
Actually, this is a good time to -start- a 401k. That's the whole point of the stock market - buy low, sell high. If you're not retiring for 20+ years, you should be fine (or so the 'historical data' suggests).
- CincodeMayo0
Yeah, I think I should definitely start one soon. Any benefit to doing it through my company if no match is met? If I don't do it through them, what companies do you guys suggest using? Are those financial companies/financial advisors expensive? I have no idea...
- lot's of companies are cutting the matching funds or taking them out all together. I think it's a bad time to collect the US $robotron3k
- ok_not_ok0
2 words: Mutual Funds
- CincodeMayo0
My company doesn't match because we get a pension after 5 years which is actually pretty good, but the benefit of doing it through the company is that they pay all the fees. Now it's just a matter of figuring out how much I can take out of my paycheck and how to divide it all up.
- ********0
that is a tough decision, my 401k like ivl has dropped 37% of it's value, the good thing about a 401 is your company matches what you put in but I just don't think it is a good idea. Ooo your company does not match....Go with a mutual fund.
- CincodeMayo0
Ok, so I found out a little more info about starting my 401K. This being a finance site and all, I figure I'd ask you guys for some advice.
So I'm 27, and I don't have any money in the market yet (and not much in my bank account either). I don't want to put too much money in my 401K yet but I do want to start it out. After doing some research online and through Prudential (my 401K management co.) its been suggested I invest my money this way (Aggressive):
50% - Stable Value
25% - Fixed Income Long Term & Immediate
7% - Large Cap Stock - Growth
7% - Large Cap Stock - Value
6% - Small/Mid Cap Stock - Value
5% - International StockSo that said, here are what I have to choose from:
Guaranteed Income Fund
Core Bond/PIM Fund
Core Plus Bond/Reams Fund
Prudential Short-Term Fund
Balanced I Fund (sub-advised by Wellington Management)
Janus Adviser Balanced Fund (Class S Shares)
Lifetime Aggressive Growth Fund
Lifetime Balanced Fun
Lifetime Conservative Growth Fund
Lifetime Growth Fund
Lifetime Income & Equity Fund
AIM Constellation
AllianceBernstein Growth & Income Fund (Class A)
American Century - Ultra
Dryden S&P 500 Index Fund
Fidelity Advisor Equity Growth
Large Cap Growth/Turner Investment Partners Fund
Large Cap Value/AJO Fund
AIM Dynamics Fund
Mid Cap Blend/Batterymarch Fund
Mid Cap Value/CRM Fund
Small Cap Growth/TimesSquare Fund
Wells Fargo Advantage Small Cap Value Fund A
Oppenheimer Global (Class A)
Templeton Growth
Thornburg International Value Fund (R3 Shares)
--------------------------------...
100% TotalI have no idea what any of these are or mean.
Is there some kind of site that breaks it all down? I haven't found one yet and I've been hitting up a lot of sites. Can any of you make a recommendations? This would be much appreciated! I have no freaking clue what to do!
THANKS!
Oh, and PS - I'm also rolling over a 457b that has a total of just over $400 in it. Not much, but it's a start.
- ********0
I´d look into ETFs. Hardly any fund beats the respected market average in the long run, so there´s no need to let them take your money for management fees, buy-in fees, etc. Parasites those fund managers.