My 401k performance in 2008

yeah, i probably "should"

but i don't want to

i make a pittance now compared to my future earnings, and even with the wonders of compound interest what i can put away right now is small compared to a similar percentage later (post grad-school)

i only bother with my 401k because if i didn't it would be throwing away free money
 
Makes sense about 401k and losing the match - which would be bad. I guess if you can't spare the money for a roth ira, then you can't have one (yet)
 
withdrew my 401k in july

was a tough decision but i'd already gone down about 10% and the forecast was bad... paid off a credit card with it. :shrug:
 
Rayn said:
i wish my 24 y/o brother would listen to me and start his Roth, he is already in the workforce.
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word

why don't you idiots actually listen

Rayn took some profit off a risky risky portfolio and that demands respect, I am well impressed btw

If you are over 20 and in a corp and you aren't 100% into ur 401k and every IRA you are not B& from getting... you are a fucking idiot

a
 
Rayn said:
i wish my 24 y/o brother would listen to me and start his Roth, he is already in the workforce.
Click to expand...

considering that i plan on going to med school and either having the military pay for it or accruing massive debt it doesn't really make sense for me to put away a small-ish amount of money now (i've been in the work force for 2.5 years, and even at a large % of my income put away it wouldn't amount to a lot)

it doesn't make sense for young people who will be earning significantly more later in life and are in the work force for a short time before going back to school to be contributing large portions of their income to a roth ira

i'm much better off overpaying my student loans
 
yes ptavv

putting smallish amounts of money taxfree that accrue interest doesn't make sense

you are so fucking right


edit: actually read your reply.. "large portions to a Roth IRA"

die in a fire

and be happy being poor and letting mommy and daddy pay for your ski trips because your fiscal independence is forfeit
 
Killjoy said:
If I recall you are in your low 40's or high 30's

so low risk would be dumb

also, there is no low risk anymore
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Actually, I was considering upping my risk profile at the beginning of last year but I had been sensing this economic boondoggle was pending.

Normally, you want to start out with an aggressive high-risk profile & then as you get older diversify & put things in more secure, low-risk areas. I've always known this.

At the time that I started my 401(a)/403(b) I chose a conservative profile. My wife worked at the same place though so she went with a more aggressive profile. She no longer works there (she's a stay@home mom)--so there's no employee match, and her losses have been considerably greater.

I'm just waiting for things to level out before I change my profile again.
 
ptavv said:
i'm much better off overpaying my student loans
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well I don't really care if you contribute or not but overpaying your low interest student loans to fore go several years of interest free late-term compound interest is definitely not a better deal long term.

If you are planning on being rich, you'll probably have too much income to invest in a Roth IRA later, anyway.
 
When It Comes to Saving, Who Would You Listen to: My Wife or Milton Friedman? - Freakonomics Blog - NYTimes.com
When I was a first-year assistant professor at the University of Chicago, my friend and department chair, Jose Scheinkman, relayed the advice Milton Friedman had given him 20 years earlier, “Don’t save too much.”

The logic was simple: An academic’s salary rises steadily over time, as do outside opportunities — like writing popular economics books! The right reason to save is so you can even out your consumption. When times are good, you should save, and when times are bad, borrow.

Most likely, I would never be as poor again as I was starting out. That meant I should have been borrowing, not saving. I didn’t follow the advice as fully as I should have, partly because my wife insisted we save — she is not quite as good an economist as Milton Friedman.
Click to expand...
 
FngrBANG said:
Actually, I was considering upping my risk profile at the beginning of last year but I had been sensing this economic boondoggle was pending.

Normally, you want to start out with an aggressive high-risk profile & then as you get older diversify & put things in more secure, low-risk areas. I've always known this.

At the time that I started my 401(a)/403(b) I chose a conservative profile. My wife worked at the same place though so she went with a more aggressive profile. She no longer works there (she's a stay@home mom)--so there's no employee match, and her losses have been considerably greater.

I'm just waiting for things to level out before I change my profile again.
Click to expand...

why can't you be like this all the time

you are an okay dude when you are sober and not making diatribe threads about food or wtf you do

you remind me of Juggz, who, and this will piss a lot of you off, has a good head for real estate and probably has more money and less problems then a lot of posters here

tl;dr: stop being faggots
 
Stilgar said:
And then you pay the tax on it with a 1099.
That'll help?
Click to expand...

stuck the tax i knew i'd owe in a savings account and built a trivial amount of interest on that (a WHOLE DOLLAR), specifically to pay the 1099R

i only had about 4 grand in the 401k and had just left the job providing the match... out of work for 3 months... made my decision and i stand by it

current employer doesnt offer 401k yet :( small company but rapidly expanding so i have high hopes.
 
jesus

LAYFAG TERMS

pick one of the two

a) I put my money into a long term or short term interest baring (and maybe tax free) investment

or

b) I give the government my money at no interest due and they do whatever they want and if I figure out I overpaid I can get the principle back with no interest....


l2invest: REDUCE YOUR TAXABLE INCOME IN ANY WAY SHAPE OR FORM
 
Killjoy said:
why can't you be like this all the time

you are an okay dude when you are sober and not making diatribe threads about food or wtf you do

you remind me of Juggz, who, and this will piss a lot of you off, has a good head for real estate and probably has more money and less problems then a lot of posters here

tl;dr: stop being faggots
Click to expand...


:heart:
 
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