Posted on 10/20/2017 9:58:58 AM PDT by C19fan
+1
Yeah, it definitely makes sense with the employer match.
Just to be clear, my brother’s advise was that if your employer matches funds, you DEFINITELY want to get as high as you can to get all the matching funds you can. He was very up front about it.
And back when he and I used to talk about this, most of the people I knew either worked for companies that didn’t have matching funds, or had not been at the company long enough to qualify for matching funds. I think I gave the impression that he thought 401k’s were bad.
I was trying to be too brief in my first post. It is partly because my company where I had my 401k did not match any of it.
To summarize:
401k’s are a good thing if the company matches your contribution.
They are a poor choice if the company doesn’t, unless they are your only option to sock away a LOT of fairly risk free savings.
Of course, if they make the limit 2400, never mind regarding the latter.
I think usually a IRA will give you wider investment choices than a 401K. That has been our experience. We are both retired, did rollovers of our 401Ks into traditional IRAs and have been managing our own stock choices which are considerable. Choices were limited through the 401K. We are both above 34% for the year so far.
I don’t base my retirement on a smaller life style. i like to travel, live at the beach, by my family stuff, etc. . also a lower income for a longer life expectancy is a losing proposition. Retirees always think their taxes will be lower when they retire and if you did well in the build up that’s a fallacy. And some people want the option of retiring before they are 59.
>>Yeah, it definitely makes sense with the employer match.<<
It makes sense for a lot of reasons:
* Pre-tax reduces your tax in current year (chances are good you will be withdrawing at lower tax bracket).
* Much higher cap
* You control the investment mix
* Good vehicle to learn and execute discipline.
I waited until my 30s (IDIOT!) to start saving for retirement. I then got married and started putting every dime I could towards my retirement (had I stared in my 20s I would be retired now).
The 401(k) was a great savings and investment vehicle. Retirement is now scheduled for age 62.
“I don’t base my retirement on a smaller life style. i like to travel, live at the beach, by my family stuff, etc. . also a lower income for a longer life expectancy is a losing proposition. Retirees always think their taxes will be lower when they retire and if you did well in the build up that’s a fallacy. And some people want the option of retiring before they are 59.”
You’ve kind list me with this post. I think we started out debating the merits of Roth vs 401K. But, not sure what we are debating now. So, maybe you could elaborate a little for me? I will say this in regard to 491K’s, since I’ve retired I’ve rolled my 401K into an IRA which is managed by an investment company and I’m very pleased with the results.
obama also wanted to cap retirement plans once the account hit $2 million....it was by some unfortunate timing for he and the rest of the left wing that news was just breaking on some superintendent from the state of Kalifornia who was retiring to a nice state funded pension of $500,000 annually..
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As usual, you are in the dark WRT what liesw in our future.
Gold and silver are not about financial gain; they are about survival.
We entered the 70th Sabbath about a month ago. “Interesting times” are ahead. (and really already are here, as evidenced by the massive fraud our FBI is staging in Las Vegas)
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If they reduce 401K contributions, other types of retirement contributions are likewise going to be reduced.
>>Gold and silver are not about financial gain; they are about survival.
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Ah, I see.
Sorry, I was thinking about investments and the thread topic, not Prepping.
If you are telling people to abandon their investment strategies in lieu of Prepper strategies, you should be clear.
You can buy all the junk silver and real estate you want. :)
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No not prepping, financial survival.
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As you can see, the short bus stopped and unloaded on this thread.
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>>No not prepping, financial survival.<<
Gold is no better than any other investment in terms of financial survival.
:)
You’re deluded!
No non-PM currency or instrument will survive the taking.
Neither will your PMs unless they are of small emough denomination, and broadly spread in devious places.
You really do not have even a minimal level of understanding of what is going down.
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