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.
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.
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.
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.
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?
Borrowing from Dave Ramsey’s plan, put as much in as to get the company match (free money). Then put 15% or the maximum allowed into a Roth IRA. If the government took one kind of account, they might not take the other. This way, you’re hedging bets.
IMO, now is the time to get into a 401K. Make sure you have a good mix of funds (depending on your age), but if you are still young, stock funds are a great deal now.
My employer just stopped matching. I have mine parked in a fund that is safe but pays 1.5% approx., lately. I got out late. I expected a big O-bozo bounce the first couple of months after inauguration. Don’t trust my judgement!
If you’re 30, now is definitely the time to get in.
Look at it this way. If the government and the dollar falls apart, nothing you saved in a passbook or mattress will make any difference anyway.
On the other hand, if the market is cyclical, which it always has been, now is the time to get in.
For now, put it in a guaranteed fund or money market or whatever safe haven allowed. Move it into growth funds as the market starts up.
The other thing to consider, if they ‘nationalize’ 401k plans and dump trillions of dollars into the treasury and replace your account with an IOW, I suspect they’re going to get their revolution.
Invest as much as you are allowed. The market is on sale. This is the time to start. don’t go crazy investing in the company stock, though. Learn from the Enron fiasco. I understand the fear of the dems targeting 401k’s for confiscation, but I think the chance of that is minute. We will give them a fight like they’ve never seen if they try.
Easy decision. Do you get any matching funds? If yes then yes invest the minimum to get the maximum of the matching funds. If no then your better off getting an IRA or your own investments.