401 K, anyone contribute? Options

[ttocs]

How much do you contribute to your 401K at work?
I usually contribute $15,500 (max pre-tax amount).

[NothingNothing]

i dont feel like signin up for 401k.. LMAO

dont know if that bad idea or not.. or maybee i just dont care..

[ttocs]

I get a tax break and $4000 coporate matching (free money) per year.

i dont feel like signin up for 401k.. LMAO

dont know if that bad idea or not.. or maybee i just dont care..

[NothingNothing]

i know.. but blah.. me lazy..

i hear it like like $1=$10 or something like that...

aint it like contract though.. so if you dont stick with the contract you gonna lose some $$?

[film4reel]

if you do not put money away in a 401k plan then you are A DUMBAZZ.

(AND NO, I'M NOT TAKING IT BACK!)

[surfinsushi]

^Agreed.

[NothingNothing]

teell me what 401k alll bout plz...

This post has been edited by NothingNothing: Feb 24 2008, 07:10 PM

[film4reel]

teell me what 401k alll bout plz...

MONEY FOR RETIREMENT

This post has been edited by film4reel: Feb 24 2008, 07:15 PM

[NothingNothing]

but dont you gotta stick with the contract..? what if you decide to drop the 401k..?

[film4reel]

but dont you gotta stick with the contract..? what if you decide to drop the 401k..?

putting money in your 401k is voluntary. if you put money away then it may help to put you in a lower tax bracket. keepin' it real, when you and i become old secoial security will be a thing of the past.

[riversouth]

i heard of this 401k before.

iono what it is but now i do.

i do'nt know even if currently i have 401k or not

[NothingNothing]

^ you gotta sign up or you aint gonna have it.. or if you job got it..

This post has been edited by NothingNothing: Feb 25 2008, 07:13 AM

[2nd2none]

I max it out every year..... Like Film4reel said, when you and I get old, social security will be a thing of the past.

[riversouth]

^ you gotta sign up or you aint gonna have it.. or if you job got it..

where do you go to sign up for it?

[ttocs]

Speak with someone from HR.

where do you go to sign up for it?

[wariswar]

How long do you have to keep putting money in the 401K until you can retire? What's gonna happen if you just feel like quitting 401k after like a couple months of applying for it?

So it doesn't do anything but putting some of our money away and lower our tax rate?

[SBLucas]

They take away 3% each paycheck

[SkylineC83]

damn, $15,500??

how do you manage to save that much a year unless you're making close to 6-digits and low rent/mortgage?

[mndeg]

i wouldn't put anything more than what your company matches
i know there's a tax incentive when you're of a certain age, you'll be able to take it out without paying cap gains tax but it's still not worth it.

the broad market sucks. if you have 100k put it in the jim rogers commodities index

This post has been edited by mndeg: Jul 13 2008, 01:08 PM

[ttocs]

I make a pretty good salary as a software engineer. Not 6 figures yet, maybe in another 2-3 years.
Anyway, I always contribute the max pre-tax amount, the new company I work for matches 50% of what I contribute.

damn, $15,500??

how do you manage to save that much a year unless you're making close to 6-digits and low rent/mortgage?

This post has been edited by ttocs: Jul 13 2008, 03:36 PM