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Orange Blooded [2053]
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How much do you invest in 401k?
Feb 9, 2017, 11:39 AM
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Company is ghana match dollar for dollar up to 6%. I'm 100% vested after 30 days (which I didn't know what a thing).
I was thinking of doing 12%, but maybe I'm better off investing the extra 6% in an IRA and other vehicles.
The tax implications seem to be roughly the same, no?
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All-In [40332]
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do you have $1000 in fund?
Feb 9, 2017, 11:41 AM
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do you have 3-6 months expenses saved?
have you paid off all of your cars, cards, and non-mortgage debt?
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Orange Blooded [2053]
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Re: do you have $1000 in fund?
Feb 9, 2017, 11:46 AM
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> do you have 3-6 months expenses saved?
I'm still replenishing from unemployment, but almost
> have you paid off all of your cars, cards, and
> non-mortgage debt?
Car - paid, but is BMW with 165k miles that I'll need to replace soon. No other loans or debt.
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All-In [40332]
TigerPulse: 100%
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pack it full then***
Feb 9, 2017, 11:53 AM
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All-In [28802]
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Joined: 11/14/03
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3-6 months expenses saved
Feb 9, 2017, 12:19 PM
[ in reply to do you have $1000 in fund? ] |
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That's a lot of money saved when my rent is more than $1000 and I have over $400/month in student loans. Obviously #poor.
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Heisman Winner [105397]
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Make sure you get the full company match, then up to about
Feb 9, 2017, 11:41 AM
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15% into H&B.
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CU Medallion [54758]
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Posts: 52802
Joined: 10/1/03
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handies and blowies?
Feb 9, 2017, 11:51 AM
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didn't know you could do that
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Heisman Winner [105397]
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yep. I've seen it millions of times.***
Feb 9, 2017, 11:53 AM
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Oculus Spirit [80918]
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Posts: 56009
Joined: 9/13/04
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What is this years limit? 18k?
Feb 9, 2017, 11:42 AM
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Then 18K in 401K
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CU Medallion [73569]
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Posts: 78044
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is that limit personal or with
Feb 9, 2017, 11:44 AM
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company match as well?
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Oculus Spirit [80918]
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The allowed contributions don't include the company match
Feb 9, 2017, 11:46 AM
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So it would be my $18K, plus whatever it is the company matches.
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CU Medallion [73569]
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ah, cool. well, then i dont go over
Feb 9, 2017, 11:48 AM
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most of my increases are going into college funds now.
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Oculus Spirit [75668]
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Oculus Spirit [75668]
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Plus $6000 in catch-up if you turn 50 this year.
Feb 9, 2017, 11:44 AM
[ in reply to What is this years limit? 18k? ] |
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Also, for you high rollers, don't go putting all $18,000 in on your bonus check. You'll be cheating yourself out of match if you do that.
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Oculus Spirit [80918]
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Please explain re:bonus check
Feb 9, 2017, 11:47 AM
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My companies match is done at year end, not during the year.
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Oculus Spirit [75668]
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Well, back in the old life, employees had to
Feb 9, 2017, 11:54 AM
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make a contribution each check to get their match. It didn't pay to do 10% if that would cause you to max out before the 12/31 check. I suppose plans can be written differently.
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Oculus Spirit [85005]
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Yeah, ours is put in bi-weekly***
Feb 9, 2017, 12:01 PM
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CU Medallion [54758]
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BTDubs, there's some chicken tortellini alfredo outside your
Feb 9, 2017, 12:05 PM
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door.....and then to the left, right, hard left.
also, salad, cookies, and sweet tea.
go in confident, no one will ask you any questions
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Letterman [292]
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Joined: 9/9/99
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Re: One decent thing about our matching is you can...
Feb 9, 2017, 12:09 PM
[ in reply to Well, back in the old life, employees had to ] |
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do it all via the bonus(if we get one) and if you're still around the next
April they will deposit a match as if you contributed each paycheck at
the max matching rate.
And for the original question. Max 401K, max catch-up, max HSA - kids
are gone, in the home stretch, ready for retirement, no pension in my
industry.
/kid
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CU Medallion [54758]
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so, you're 50+ years old
Feb 9, 2017, 12:11 PM
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and sign your posts "/kid"
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Oculus Spirit [85005]
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Are you in a meeting right now?
Feb 9, 2017, 12:13 PM
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Your brother with the soul patch just walked out and dropped his cookie.
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CU Medallion [54758]
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thick dark (lol) rimmed glasses?
Feb 9, 2017, 12:15 PM
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thicker & darker (lol) than mine??
i don't know that guy...
i was in that mtg all yesterday afternoon, doubt i'll volunteer to attend today
but I did grab some lunch
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Oculus Spirit [85005]
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YES
Feb 9, 2017, 12:16 PM
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Nice
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Oculus Spirit [80918]
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Oculus Spirit [79079]
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As long as it's not a Roth there are no taxes until retireme
Feb 9, 2017, 11:43 AM
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nt. It really depends on what your company's plan is. Mine doesn't have very many choices and so I took all the monies from my prior 401K's and put them in an IRA with Fidelity where I had a lot more choices. But the match goes into the company plan for now.
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Legend [17753]
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You definitely want to invest the portion they will match,
Feb 9, 2017, 11:43 AM
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and anything above that I would seriously consider plowing into hookers and blow.
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All-In [27403]
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Joined: 9/9/05
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tree
Feb 9, 2017, 11:45 AM
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fiddy
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Hall of Famer [21204]
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Joined: 9/23/06
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Get the match, then, if you are young,
Feb 9, 2017, 11:46 AM
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put the money in a roth IRA. If you are older... 55+ you will have to figure out if a traditional IRA or a Roth is better.
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All-TigerNet [11860]
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Re: How much do you invest in 401k?
Feb 9, 2017, 11:48 AM
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I invest 5%. Company puts in 10%. They gave us a 5% raise when they initiated this plan
Periviously they put in 15% w/o me contributing anything.
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Orange Blooded [2013]
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Go with what they will match
Feb 9, 2017, 11:50 AM
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and invest the rest in stocks/mutual funds and the IRA avenue.
die verse uh fye
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CU Medallion [50635]
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Re: How much do you invest in 401k?
Feb 9, 2017, 11:51 AM
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All-TigerNet [11860]
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H8n scok***
Feb 9, 2017, 1:39 PM
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Oculus Spirit [78823]
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the max plus ketchup
Feb 9, 2017, 11:57 AM
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I am old
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CU Medallion [54758]
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Joined: 10/1/03
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don't think he can do ketchup quite yet***
Feb 9, 2017, 11:58 AM
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Oculus Spirit [85005]
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I put in 5% b/c company matches 5%, the rest
Feb 9, 2017, 11:59 AM
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I plow into hookers and blow.
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Legend [17753]
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Joined: 5/13/02
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Solid strategy is solid.***
Feb 9, 2017, 12:21 PM
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CU Medallion [54758]
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something to consider, found this out the hard way last year
Feb 9, 2017, 12:25 PM
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if you make over a certain amount AND have a 'work-sponsored' retirement fund, you cannot use another investment (ie IRA) to reduce taxable income
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Orange Blooded [2053]
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Good info, thanks cutie***
Feb 9, 2017, 12:26 PM
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All-In [28802]
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Posts: 58393
Joined: 11/14/03
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Oculus Spirit [85005]
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Yeah, but he's still fat***
Feb 9, 2017, 12:36 PM
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CU Medallion [54758]
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"husky"***
Feb 9, 2017, 12:37 PM
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Oculus Spirit [75668]
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But doesn't he have a smokin' hot wife
Feb 9, 2017, 12:48 PM
[ in reply to Yeah, but he's still fat*** ] |
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that also makes all the money. Actually bamboozled him out of a good job if I recall.
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All-In [28802]
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Like I said, he's rich
Feb 9, 2017, 12:54 PM
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He doesn't have to stay in shape like us poors.
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Oculus Spirit [75668]
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Joined: 10/26/03
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Start out not in shape, and you've got it made.
Feb 9, 2017, 12:57 PM
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Get in bad enough shape, you even get to stop working well before retirement age.
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CU Medallion [54758]
TigerPulse: 100%
Posts: 52802
Joined: 10/1/03
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Replies: 44
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