Posted on 04/01/2009 3:36:54 PM PDT by randomhero97
Yo FReeps, I need a little advice. I've been a DoD contractor pretty much since I got out of the AF. I have never started a 401K with any company. I'm working for a fourth different company now and am deciding on opting out of the companies 401K plan due to the current political environment. I have a large savings and other investments so I think I am in good shape.
Down the road if we find out the socialites decide not to attack our retirement accounts I may opt back into it. Is anyone else in this position or have these concerns?
ping
Bump for later read......
Not a financial whiz so take this at your own risk.
If you get matching funds, go for it. Just invest in the income fund for now. Not a lot of growth but you wont have the wild swings.
Why are you pinging him to his own thread? He just started it a couple of minutes ago.
Buy Gold.
IMHO, not only should you opt-in, you should put as much in as possible. Just be sure to diversify your investment options. However, with that said, always contact a financial adviser.
NO! If you are worried about the stock market, just put it into the 401K in the money market option (which I assume they have). Then move it into stocks when you are comfortable.
Don’t invest your money in your own company’s stock. Buy conservative vehicles and use the company’s match for corporate stock.
Just my personal and highly unprofessional opinion: If your employer matches any portion of your contribution, you are making money. Additionally, 401K contributions are pre-tax (with the assumption you’ll pay taxes at a lower rate when you withdraw them) and will reduce your current taxable income.
I was about to suggest something similar. If matching funds are intact, contribute the minimum to get the full match, and park it in the most conservative option on the menu, at least for the time being. If there’s no match, there’s not much reason to go into the plan in this environment, plus future taxation is likely to be more severe than at present, so tax-deferred isn’t necessarily as appealing as it once was.
Here’s the thing, the company I work for matches at 6 percent which is pretty damn good if you ask me. However, I put back two grand a month into savings that’s only like 1.5 percent. I can get to that money if I need to. Plus, like I said I have a few other high liquidity investmests.
Is the Federal Gov. going to “Nationalize” the 401-K
or do I try to keep as much money as possible from the Government by contributing to the max.
I'm an independent contractor and in higher tax bracket
We finally bit the bullet and funded the 401-K
but I'm “nervous” about it
If the company matches your contributions, it’s free money. Do it.
That’s my measure, too.
Instead of asking permission from the governemtn where you should save your money and what you can or cannot invest it in, JUST DO IT YOURSELF
If I had a 401K right now I would be furious
Opt out and invest in guns and ammo.
How old are you?
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