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Topic	Do you have a 401k?
clearaflagrantj 06/07/17 11:38:50 AM #21:	GoriIIa posted... philsov posted... GoriIIa posted... Just started working and new to all this. Shove in whatever your company matches. Free money is amazing down the road. 401k notably is also pre-tax income, so if your annual paycheck is 50k and you put in 10% to the 401k, you're only taxed at 45k. You then get taxed later at retirement (or whenever you withdraw from the account), but it's net less taxes. Ah I see. And to max out is $5000/yr? I think 401k's cap out at like 17K a year. You should be maxing it out and buying diversified index funds with low expense fees. Look up the three fund portfolio, aka lazy fund portfolio. drunkmuggle posted... john hancock is bad news I did some math recently and even with a 1% expense fee and not including employer matching, your 401k is still leagues better than a taxable brokerage account. <cite>clearaflagrantj posted [p:880588827] in Do you hav... [t:75431886]...</cite> <quote><cite>GoriIIa posted...</cite> <quote><cite>philsov posted...</cite> <quote><cite>GoriIIa posted...</cite> <quote>Just started working and new to all this.</quote> Shove in whatever your company matches. Free money is amazing down the road. 401k notably is also pre-tax income, so if your annual paycheck is 50k and you put in 10% to the 401k, you're only taxed at 45k. You then get taxed later at retirement (or whenever you withdraw from the account), but it's net less taxes.</quote> Ah I see. And to max out is $5000/yr?</quote> I think 401k's cap out at like 17K a year. You should be maxing it out and buying diversified index funds with low expense fees. Look up the three fund portfolio, aka lazy fund portfolio. <cite>drunkmuggle posted...</cite> <quote>john hancock is bad news</quote> I did some math recently and even with a 1% expense fee and not including employer matching, your 401k is still leagues better than a taxable brokerage account.</quote> ... Copied to Clipboard!
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