#2459272 - 07/27/11 09:22 PM
Lets talk 401k's...
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ShaneHallum
Good ol' Boys
16 Point
Registered: 08/30/08
Posts: 11458
Loc: Belk Tennessee
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I'll be honest and say that I don't know alot about the details on these.. With my new job, I plan on starting to put money into it, or another form of savings.
Bridgestone matches 401k 100% so I want to take advantage of this from the begining so I don't miss the money. Can we have some advance on this topic?
_________________________
"Welcome to Tennessee, the patron state of shooting stuff."
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#2459274 - 07/27/11 09:24 PM
Re: Lets talk 401k's...
[Re: ShaneHallum]
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Grizzly Johnson
Good ol' Boys "Team Grizzly"
16 Point
Registered: 10/07/08
Posts: 12827
Loc: Mid. TN
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The way the government is playing around with our futures, no one may have any money in their 401K if the markets tank....
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VooDoo Mafia
Bustin' Heads Is Our Specialty
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#2459277 - 07/27/11 09:25 PM
Re: Lets talk 401k's...
[Re: ShaneHallum]
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trealtree
16 Point
Registered: 09/29/04
Posts: 10138
Loc: Middle Tennessee
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100% thats unheard of. my company matches up to 6%
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There is only 1 Absolute.
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#2459282 - 07/27/11 09:28 PM
Re: Lets talk 401k's...
[Re: trealtree]
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trealtree
16 Point
Registered: 09/29/04
Posts: 10138
Loc: Middle Tennessee
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In my 401k right now I have 50% company stock 30% large cap growth stock 20% European stocks. I have made 29% profit this year.
What funds you put it in really depends on how old you are and when you plan to retire. I am 29 and I have been contributing to my 401k since 2004. That is why I am a bit more tolerant to risk.((50%) company stock) When I started in 2004 company stock was 13 dollars per share. Now it has spilt many times and there is a class A and B share 1 is 55 the other is 30 something.
_________________________
There is only 1 Absolute.
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#2459284 - 07/27/11 09:29 PM
Re: Lets talk 401k's...
[Re: trealtree]
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shelbydeer
8 Point
Registered: 06/06/07
Posts: 1403
Loc: memphis
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yea most companies dont match more than 5%.... mine only does 2%
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#2459302 - 07/27/11 09:38 PM
Re: Lets talk 401k's...
[Re: shelbydeer]
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ShaneHallum
Good ol' Boys
16 Point
Registered: 08/30/08
Posts: 11458
Loc: Belk Tennessee
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Let me rephrase that.. they match up to 10%
One too many zeros!
_________________________
"Welcome to Tennessee, the patron state of shooting stuff."
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#2459307 - 07/27/11 09:42 PM
Re: Lets talk 401k's...
[Re: ShaneHallum]
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trealtree
16 Point
Registered: 09/29/04
Posts: 10138
Loc: Middle Tennessee
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Let me rephrase that.. they match up to 10%
One too many zeros!
That is still a great deal. Some people say(Dave Ramsey financial guru) that you should not contribute to a 401k until you are debt free other than your mortgage if you have one.
_________________________
There is only 1 Absolute.
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#2459312 - 07/27/11 09:47 PM
Re: Lets talk 401k's...
[Re: trealtree]
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jameseboy
8 Point
Registered: 10/02/03
Posts: 1597
Loc: Germantown, TN
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Take it from an old guy max your contribution as soon as you can and dont ever take any out till after you are retired. If your in your 20s now and if you dont get divorced and lose half of it I promise you will have multi-millions when you retire.
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#2459313 - 07/27/11 09:48 PM
Re: Lets talk 401k's...
[Re: trealtree]
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BMan
14 Point
Registered: 02/06/06
Posts: 8909
Loc: Middle TN
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Best thing about a 401(k) is that it's pretax; cuts down on your income tax bill at the end of the year.
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Rules are for people who lose fights.
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