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Ming
DOOM!
Gender: 
Joined: 13 Jan 2003 |
 Posted: Fri Sep 07, 2007 11:21 am Post subject: Happy 401(k) day! |
Seriously...
My company is celebrating "401(k)" day today by giving us chocolate coins and telling us to invest in our retirement. I appreciate the free chocolate (who wouldn't?), but I keep asking myself if this is really neccesary.
I guess it's just weird. I'm starting to think that the corporate world will never make complete sense... |
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GAAZ
MOD Black Sheep Commander
Gender:
Joined: 14 Oct 2002 |
| Posted: Fri Sep 07, 2007 11:27 am Post subject: |
They prolly just want you to be aware that a 401K is a damn good idea.
Granted the smart money is in a Roth IRA.
You should never invest in a corporate retirement plan if you aren't already invested in an IRA.
Here's the reason.
If you only invest in a 401K all your money ALL of it is your companies...You get paid by your company and you will retire on your company money. If your company fires you and imbezzles your money you are screwed.
Investing in a roth IRA means you have diversified your earnings and are not bound by your company. ^_^
Also some companies match you for 401K's but only to a point...ONLY pay up to the point they match you and the rest should be invested in other areas. |
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Ming
DOOM!
Gender:
Joined: 13 Jan 2003 |
| Posted: Fri Sep 07, 2007 11:35 am Post subject: |
Great Googilly-Moogilly! 401(k) day is REAL!
http://www.401kday.org/
And here I thought it was just Rupert trying to be clever!
| GAAZ wrote: | | They prolly just want you to be aware that a 401K is a damn good idea. |
I do already have one.
| GAAZ wrote: | | Granted the smart money is in a Roth IRA. |
My financial advisor said not to worry about this right now, but it's something that I'm planning on revisiting at some point.
| GAAZ wrote: | | Also some companies match you for 401K's but only to a point...ONLY pay up to the point they match you and the rest should be invested in other areas. |
That's what I've got mine at right now. Essentially, it's free money...unless of course my company imbezzles it like you mentioned, which I don't think is very likely. We also have a good vestment plan.
Geez...I just realized something...why am I talking about my finances?! Next thing you know I'll be playing golf and buying a BMW...
Sorry for the corporate outburst. |
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Spinning around and being graceful looks cool, but then someone comes along and cuts something off, and the fight is over.
Official UP lover!
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Wins 41 - Losses 44
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EXP: 5223
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SirGunslinger
Rebel without a clue
Gender:
Joined: 21 Jun 2007 |
| Posted: Fri Sep 07, 2007 11:48 am Post subject: |
I have money invested in my company IRA. I also have some invested in stocks, HSBC savings account, and some gold.
Interest bearing investments are an logarithmic exponential investment so the earlier you have interest accruing then the more it will bear later in life. Granted, if you completely pinch all of your pennies early then you're not going to have fun in your prime.
Although if you have any debt whatsoever get that taken care of first before you invest. Interest from debt will eat any interest from an investment and it is lose/lose. |
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Legend
Queen of Terabithia
Age: 41
Gender: 
Joined: 14 Oct 2005 |
| Posted: Fri Sep 07, 2007 12:32 pm Post subject: |
*embezzles
Dude. I want free chocolate. *cries* |
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FawkesFyre
Saving the World, one Kitty at a Time
Age: 46
Gender:
Joined: 28 Sep 2006 |
| Posted: Fri Sep 07, 2007 1:50 pm Post subject: |
I need to do more with my money.
I do the 401k thing where I put in the minimum that they will match...where I've got a nice amount.
A Money Market Saving with the rest of my money
And a checking account where my paychecks go and get spent on bills.
As far as debt, I could pay off my balances on Credit, no problem but I've got a mortgage and car to pay for which suck. |
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Ming
DOOM!
Gender:
Joined: 13 Jan 2003 |
| Posted: Fri Sep 07, 2007 1:56 pm Post subject: |
My student loan bills are pretty much like I'm paying a mortgage. |
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Spinning around and being graceful looks cool, but then someone comes along and cuts something off, and the fight is over.
Official UP lover!
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Wins 41 - Losses 44
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Sciler
Mistress
Age: 46
Gender:
Joined: 15 Sep 2002 |
| Posted: Fri Sep 07, 2007 2:09 pm Post subject: |
Wow you got chocolate? I got a letter with my paycheck....exciting... |
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SirGunslinger
Rebel without a clue
Gender:
Joined: 21 Jun 2007 |
| Posted: Fri Sep 07, 2007 2:23 pm Post subject: |
Then until you pay off your student loans, you would have better luck prying vodka and blow from Lindsey Lohan's face than getting into the black preparing for retirement.
I had to get myself outta debt and it was painful. |
_________________
I do not aim with my hand; he who aims with his hand has forgotten the face of his father. I aim with my eye.
I do not shoot with my hand; he who shoots with his hand has forgotten the face of his father. I shoot with my mind.
I do not kill with my gun; he who kills with his gun has forgotten the face of his father. I kill with my heart.
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Ming
DOOM!
Gender:
Joined: 13 Jan 2003 |
| Posted: Fri Sep 07, 2007 2:46 pm Post subject: |
That's my #1 goal right now.
...I was referring to getting out of debt, not prying things off of Lindsay Lohan's face... |
_________________
Spinning around and being graceful looks cool, but then someone comes along and cuts something off, and the fight is over.
Official UP lover!
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Wins 41 - Losses 44
Level 10 |
EXP: 5223
HP: 2300
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STR: 900
END: 700
ACC: 1000
AGI: 800
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Equitas (Sword)
(385 - 385) |
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