Re: same rate of contribution i.e., $5500 per year
Post# of 82687
(Total Views: 233)
Posted On: 03/19/2018 3:41:54 PM
Re: Nick Danger #20745
Re: same rate of contribution i.e., $5500 per year
Correct undervaluedstocks ! but Contributions do go up to $6,000 or $6,500 if over 59 1/2 but check this year's rules.
With a 401K, you can add upto $6000 extra as a Catchup Contubution too, if you are age 50 or older. Use your age as of the end of the calendar year.
However, there are a very few companies that have a Broker Window within their 401K plan. That's the Exception, not the Rule.
If of eligible retirement age you can Rollover your 401K into a Roth IRA.
Although You have to pay taxes on what you Rollover in that Same Year, when going in to the ROTH.
But that money Grows tax free and with the right investments, it's well worth it, especially if young.
The first year the Roth IRA was created you could spread your tax payment out over four years, of course not many people even knew about the Roth that first year, except those in government who created the Roth, and took advantage, the Bas_turds,. Only one other time around 2010 or 11 did they allow you to break up your payment into 2 years.
Plus put as much of $5,500 Max in to an IRA first, before putting it into a Company 401K.
Reason : Most 401k's have a limited amount of Mutual Funds to invest in, and their Company Stock. In an IRA you
can just about invest in anything you desire. Where do you want your money tied up in ?
A 401K is like Sharks Teeth, you can't get your money out unless you leave the Company, if you do leave the company there is only a small window to roll it over into an IRA.
But you can take a Loan on your 401K, from my experience up to $50K, with 5 year repayment plan, it is a great place to save for a Down Payment on a House or incase you are expecting extra medical expences or emergency. . I took a $50K Loan and Bought Physical Gold and Silver. It's amazing how easy it is to hide $40K in Gold Buffalo 1oz Coins is.
However, there are a very few companies that have a Broker Window within their 401K plan. That's the Exception, not the Rule, if you have one good for you.
That being said always, always sign up for your Companies 401K plan so you can get the employer's contributions, as it's
Free Money. My Companies Contributions was 20%.. if you think you can make more than the companies percentage outside the 401K Go for it!
Even if your money is just sitting in your 401k's Money Market with the Companies 20% its is hard to beat. Except something like SFOR.
401K: If you see or know the Markets going to take a big dive, move investment money into the 401K Money Market ! Most All 401K's have one.
I knew Rocket Scientist Engineers when I would say that to them, and they would say, I'm not worryed I'm in the market for the Long Term. Yea but there's no reason to watch your 401K get cut in half and take years to recover the money, when all you have to do is Move it to a Safe Money Market. Go ask Terryville who was planning on retiring the next year, what happen to him.
Shoot most of my co-workers didn't know the password to get into thier 401K Account, back when it took 3 days to get your password by mail, by that time they lost 30 - 50%.
But they could tell you the Football Scores of every Game played last weekend. It just amazes me the knowledge Men know about football, yet know nothing about and no interest in investing and investments.
Please envision my eyes rolling & head shaking back and forth.
I hope something above will be useful to someone.
Disclaimer : This is not Investment Advice, this just what I have learned, do your own indepth research before Moving your own Money
https://www.thebalance.com/401k-contribution-...es-2388221
https://www.rothira.com/how-convert-to-a-roth-ira
Correct undervaluedstocks ! but Contributions do go up to $6,000 or $6,500 if over 59 1/2 but check this year's rules.
With a 401K, you can add upto $6000 extra as a Catchup Contubution too, if you are age 50 or older. Use your age as of the end of the calendar year.
However, there are a very few companies that have a Broker Window within their 401K plan. That's the Exception, not the Rule.
If of eligible retirement age you can Rollover your 401K into a Roth IRA.
Although You have to pay taxes on what you Rollover in that Same Year, when going in to the ROTH.
But that money Grows tax free and with the right investments, it's well worth it, especially if young.
The first year the Roth IRA was created you could spread your tax payment out over four years, of course not many people even knew about the Roth that first year, except those in government who created the Roth, and took advantage, the Bas_turds,. Only one other time around 2010 or 11 did they allow you to break up your payment into 2 years.
Plus put as much of $5,500 Max in to an IRA first, before putting it into a Company 401K.
Reason : Most 401k's have a limited amount of Mutual Funds to invest in, and their Company Stock. In an IRA you
can just about invest in anything you desire. Where do you want your money tied up in ?
A 401K is like Sharks Teeth, you can't get your money out unless you leave the Company, if you do leave the company there is only a small window to roll it over into an IRA.
But you can take a Loan on your 401K, from my experience up to $50K, with 5 year repayment plan, it is a great place to save for a Down Payment on a House or incase you are expecting extra medical expences or emergency. . I took a $50K Loan and Bought Physical Gold and Silver. It's amazing how easy it is to hide $40K in Gold Buffalo 1oz Coins is.
However, there are a very few companies that have a Broker Window within their 401K plan. That's the Exception, not the Rule, if you have one good for you.
That being said always, always sign up for your Companies 401K plan so you can get the employer's contributions, as it's
Free Money. My Companies Contributions was 20%.. if you think you can make more than the companies percentage outside the 401K Go for it!
Even if your money is just sitting in your 401k's Money Market with the Companies 20% its is hard to beat. Except something like SFOR.
401K: If you see or know the Markets going to take a big dive, move investment money into the 401K Money Market ! Most All 401K's have one.
I knew Rocket Scientist Engineers when I would say that to them, and they would say, I'm not worryed I'm in the market for the Long Term. Yea but there's no reason to watch your 401K get cut in half and take years to recover the money, when all you have to do is Move it to a Safe Money Market. Go ask Terryville who was planning on retiring the next year, what happen to him.
Shoot most of my co-workers didn't know the password to get into thier 401K Account, back when it took 3 days to get your password by mail, by that time they lost 30 - 50%.
But they could tell you the Football Scores of every Game played last weekend. It just amazes me the knowledge Men know about football, yet know nothing about and no interest in investing and investments.
Please envision my eyes rolling & head shaking back and forth.
I hope something above will be useful to someone.
Disclaimer : This is not Investment Advice, this just what I have learned, do your own indepth research before Moving your own Money
https://www.thebalance.com/401k-contribution-...es-2388221
https://www.rothira.com/how-convert-to-a-roth-ira
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