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IWETHEY Home / IWETHEY Board / Money, Financials, and Economics Forum / Does your company match any?
Post #43,884
by bepatient
Picture of bepatient
6/29/02 1:06:11 AM
Reply
New Does your company match any?
If so...yes...its >definitely< worth it.

If not...there are still tax benefits.

Plus...in this market you should have moved (if they have the options) most of your money to fixed income funds.

All in all...if you want to save...a 401k is a good way to invest.
You were born...and so you're free...so Happy Birthday! Laurie Anderson

[link|mailto:bepatient@aol.com|BePatient]
Post #43,897
by tjsinclair
6/29/02 11:09:51 AM
Reply
New Yes...6%
Tom Sinclair
"Subverting Young Minds Since 03/13/2000"
Post #43,907
by bepatient
Picture of bepatient
6/29/02 1:20:22 PM
Reply
New Then you should...
...put in at least 6...which you do.

So...in essence...you are getting 100% interest on your investment...before any market effects.

So even if the value of your 401k drops to half...you're still at your original investment.

Best deal on the planet (legal one anyways ;-)

What you may want to consider is putting the other 4% somewhere else...BUT...some folks don't trust themselves to do that. That, at least, gives them access to the additional value before 59...in case of emergency or what have you. But you still get the tax deferrement on the 4 extra...so whatever your net tax rate is...you get that for starters on the extra.

Some 401ks also allow you to borrow against the amount for any purpose...up to half the invested value...and you then repay yourself.

Great way to get a car loan...etc....from yourself.
You were born...and so you're free...so Happy Birthday! Laurie Anderson

[link|mailto:bepatient@aol.com|BePatient]
     401-Ks - Are they still worth it? - (tjsinclair) - (18) - June 29, 2002, 01:02:37 AM EDT
         Does your company match any? - (bepatient) - (2) - June 29, 2002, 01:06:11 AM EDT
             Yes...6% -NT - (tjsinclair) - (1) - June 29, 2002, 11:09:51 AM EDT
                 Then you should... - (bepatient) - June 29, 2002, 01:20:22 PM EDT
         No, talk to your bank - (orion) - (7) - June 29, 2002, 12:25:12 PM EDT
             Sorry to disagree... - (bepatient) - (3) - June 29, 2002, 01:23:12 PM EDT
                 Just my luck I had the rat's *ss 401K program - (orion) - (2) - June 29, 2002, 06:20:15 PM EDT
                     Tax deferred - (kmself) - (1) - June 30, 2002, 03:02:46 AM EDT
                         Thirty years is a long time - (orion) - July 1, 2002, 10:33:19 PM EDT
             My 401K allows fixed investments - (ben_tilly) - (2) - June 29, 2002, 02:26:09 PM EDT
                 Re: My 401K allows fixed investments - (wharris2) - (1) - July 5, 2002, 08:45:22 AM EDT
                     Ditto - (ben_tilly) - July 6, 2002, 07:35:14 AM EDT
         Remember two things. - (a6l6e6x) - (6) - June 29, 2002, 10:53:06 PM EDT
             This is good advice - (tjsinclair) - (5) - June 30, 2002, 06:58:02 PM EDT
                 Basic savings advice - (ben_tilly) - (4) - June 30, 2002, 07:56:08 PM EDT
                     As always - (tjsinclair) - July 1, 2002, 01:21:42 AM EDT
                     It's worked for me. - (Ashton) - (2) - July 1, 2002, 02:05:20 AM EDT
                         Supporting link. - (a6l6e6x) - (1) - July 1, 2002, 08:08:20 PM EDT
                             See whatcha mean ;-) - (Ashton) - July 5, 2002, 07:20:20 AM EDT

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