Current Events > Have you set up your 401k yet?

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BignutzisBack
06/01/19 12:11:33 AM
#1:


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PatrickMahomes
06/01/19 12:24:59 AM
#2:


Yes
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Psyonix
06/01/19 12:25:43 AM
#3:


Nah indont hwve 401knto deposit
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Questionmarktarius
06/01/19 12:27:51 AM
#4:


yes.
It's currently pretty pathetic, but it exists.
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The Wheelman1
06/01/19 12:28:39 AM
#5:


Yes but it's pitifully low.
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PMarth2002
06/01/19 12:33:07 AM
#6:


I have an IRA. I had a 401k with a job I had a couple of years ago, but I wound up cashing it out when I left.
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BignutzisBack
06/01/19 10:58:21 AM
#7:


Put money away so you won't have to work until you fall over and die
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Master_Bass
06/01/19 10:58:45 AM
#8:


Yes, and I max it out each year.
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clearaflagrantj
06/01/19 11:00:58 AM
#9:


Max out my SIMPLE IRA, HSA, and ROTH IRA every year.

Total contributions is like $22K every year with employer matching. Invested in mutual funds (almost exclusively domestic stock index)
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BignutzisBack
06/01/19 11:01:28 AM
#10:


Master_Bass posted...
Yes, and I max it out each year.


Start an IRA in case your 401k gets wiped out by a serious disease
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emblem boy
06/01/19 11:12:19 AM
#11:


Of course
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TomNook20
06/01/19 11:13:02 AM
#12:


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Master_Bass
06/01/19 11:13:38 AM
#13:


BignutzisBack posted...
Master_Bass posted...
Yes, and I max it out each year.


Start an IRA in case your 401k gets wiped out by a serious disease

I have a Roth IRA as well. Don't get to quite max that one out yet, though. I'm also not worried about my 401K since it's really the TSP administered by the government.
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Shablagoo
06/01/19 11:14:28 AM
#14:


I literally got no idea what any of that crap is. Makes no sense to me whatsoever.
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emblem boy
06/01/19 11:15:11 AM
#15:


Shablagoo posted...
I literally got no idea what any of that crap is. Makes no sense to me whatsoever.


Google
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Master_Bass
06/01/19 11:16:05 AM
#16:


Shablagoo posted...
I literally got no idea what any of that crap is. Makes no sense to me whatsoever.

Accounts to store and invest money so you can actually retire. You're going to have a bad time if you're only counting on Social Security. It's a bit confusing at first but a few hours of learning make things a lot more manageable.
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BignutzisBack
06/01/19 11:18:19 AM
#17:


Master_Bass posted...
BignutzisBack posted...
Master_Bass posted...
Yes, and I max it out each year.


Start an IRA in case your 401k gets wiped out by a serious disease

I have a Roth IRA as well. Don't get to quite max that one out yet, though. I'm also not worried about my 401K since it's really the TSP administered by the government.


Okay in that case you need to gtfo as you're making the rest of us feel bad, clear is banned from posting in here as well as he will try to give a sob story about having to retire at 45 instead of 42
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FFVII_REMAKE
06/01/19 11:18:33 AM
#18:


Having a 401K puts you ahead of 40% of Americans.
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clearaflagrantj
06/01/19 11:22:45 AM
#19:


Shablagoo posted...
I literally got no idea what any of that crap is. Makes no sense to me whatsoever.

401k: You tell your company to withhold some of your pay. They put it into an account and that money is NOT taxed, and the company (sometimes) contributes money into it to match you. The money in that account can be invested into stocks, so your money grows exponentially, you can take the money out when you retire.

I don't know how much simpler I can explain it, the money is untaxed and can be invested untaxed. Do you have any questions? I love talking about this type of shit
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CharlesBronson
06/01/19 12:15:36 PM
#20:


clearaflagrantj posted...
The money in that account can be invested into stocks, so your money grows exponentially, you can take the money out when you retire.

lol the stock market is less than where it was a year ago. Cash did better lol. Also you failed to mention that when you take the money out you are taxed on it lol.
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CapnMuffin
06/01/19 12:27:01 PM
#21:


You can spend $2000 now or invest that and retire like some 287 days earlier based on a recent calculation I saw.
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Hexenherz
06/01/19 12:34:52 PM
#22:


I contribute to a Thrift Savings Plan, do like 500 a month. Should probably do more.
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REMercsChamp
06/01/19 12:35:32 PM
#23:


My "401k" is basically a large investment into penny stocks
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FuneralFroth
06/01/19 12:41:08 PM
#24:


I have a 401k but no 4k tv, am i really winning
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Master_Bass
06/01/19 12:41:17 PM
#25:


Hexenherz posted...
I contribute to a Thrift Savings Plan, do like 500 a month. Should probably do more.

Yeah, it's around over $800 a pay to reach the TSP yearly maximum. You don't have to contribute that much, but I highly encourage investing as much as you can into it.
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modena
06/01/19 12:41:55 PM
#26:


Have around 13k so far.had to pull out 1k about 5yrs ago.
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Hexenherz
06/01/19 12:52:10 PM
#28:


Master_Bass posted...
Hexenherz posted...
I contribute to a Thrift Savings Plan, do like 500 a month. Should probably do more.

Yeah, it's around over $800 a pay to reach the TSP yearly maximum. You don't have to contribute that much, but I highly encourage investing as much as you can into it.

Yeah I need to get at least a little more in there. Especially since I just got a $200 raise I guess I could tuck that away for a rainy day.
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kyujo
06/01/19 1:09:47 PM
#29:


Yep. Coming along pretty nicely after ~11 years
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SK8T3R215
06/01/19 2:00:07 PM
#30:


CharlesBronson posted...
clearaflagrantj posted...
The money in that account can be invested into stocks, so your money grows exponentially, you can take the money out when you retire.

lol the stock market is less than where it was a year ago. Cash did better lol. Also you failed to mention that when you take the money out you are taxed on it lol.


>Long term investing
>Talking about one year results

Stop posting.
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Romulox28
06/01/19 2:03:31 PM
#31:


Fuck 401ks, all my investments are in SOLID GOLD BARS
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Master_Bass
06/01/19 2:59:48 PM
#32:


Romulox28 posted...
Fuck 401ks, all my investments are in SOLID GOLD BARS

Brah, gold is so yesterday. Gotta invest in those platinum bars!
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emblem boy
06/01/19 3:02:29 PM
#33:


Master_Bass posted...
Romulox28 posted...
Fuck 401ks, all my investments are in SOLID GOLD BARS

Brah, gold is so yesterday. Gotta invest in those platinum bars!


Gold pressed latinum bro
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Thrillwell
06/01/19 3:03:29 PM
#34:


be old by the waterfront, not old by the hood
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NightMarishPie
06/01/19 3:09:30 PM
#35:


yeah i match what my company offers every paycheck. pretty decent chunk of change in there I'd say
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Tony_Biggie_Pun
06/01/19 3:14:32 PM
#36:


Yes. There's about 1500 saved up now. I started back in February
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Tony_Biggie_Pun
06/01/19 3:40:52 PM
#37:


Only reason I do it mainly is because the company matches
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BignutzisBack
06/02/19 2:07:24 PM
#38:


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The23rdMagus
06/02/19 2:09:56 PM
#39:


Maxed and matching. My dad got retired out of the DoC early with only a partial pension, and I don't want to struggle like he is.
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fan357
06/02/19 2:13:22 PM
#40:


I put in 15 percent and my employer matches 6.8 percent. Ive also been putting money into my Ira.
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