jmpnkramer 0 #26 January 21, 2004 QuoteI'm thinking Wal-Mart greeter is in my future Hey Damit! You stole that idea from me!! Of course if I can get an active duty slot in the guard when I retire I will probably do nothing! Laters, .The REAL KRAAAAAAAAAAAAAAAAAMER! "HESITATION CAUSES DEATH!!!" "Be Slow to Fall into Friendship; but when Thou Art in, Continue Firm & Constant." - SOCRATES Quote Share this post Link to post Share on other sites
JohnRich 4 #27 January 21, 2004 QuoteMight want to increase that when you can . . . Yep, and the easy way to do that, is every year when you get a pay increase, put a little of it into this 401k. If you get, say, a 5% pay raise, increase your 401k contribution by 2%. That way, you still get a 3% cash raise, and you add more to your future. Quote Share this post Link to post Share on other sites
kallend 1,623 #28 January 21, 2004 QuoteIs your employer matching anything? If not, do the Roth IRA first, then crank up the 401k. Contribute until it hurts, then contribute some more. I think the current limit is $3k for the Roth, and $13k for the 401k. Mine's a 403(b), and we seem to have higher limits than that.... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
usedtajump 1 #29 January 21, 2004 QuoteQuoteI'm thinking Wal-Mart greeter is in my future Hey Damit! You stole that idea from me!! Of course if I can get an active duty slot in the guard when I retire I will probably do nothing! Laters, . As popular as the "Wal Mart Greeter" job seems to be for later in life, you'll have a lot better chance of getting that guard slot.The older I get the less I care who I piss off. Quote Share this post Link to post Share on other sites
jfields 0 #30 January 21, 2004 QuoteQuoteI think the current limit is $3k for the Roth, and $13k for the 401k. Mine's a 403(b), and we seem to have higher limits than that. Could be. There are some differences between 403b's (which my wife has) and 401k's (which I have). And of course, I'm not an accountant. Quote Share this post Link to post Share on other sites
happythoughts 0 #31 January 21, 2004 QuoteRight now I don't have any kind of retirement plan. I'm thinking Wal-Mart greeter is in my future when I get to be an old woman. I can see it now. "You can't wear that ball cap in here mister, you're banned." Quote Share this post Link to post Share on other sites
jfields 0 #32 January 21, 2004 QuoteQuoteRight now I don't have any kind of retirement plan. I'm thinking Wal-Mart greeter is in my future when I get to be an old woman. Same here. We can have one of those senior citizen apartments and work alternate days. But my plan is good, and I'm frugal, so I'll mail you both french fries. You know I'm good for it. Quote Share this post Link to post Share on other sites
PhillyKev 0 #33 January 21, 2004 QuoteQuoteIs your employer matching anything? If not, do the Roth IRA first, then crank up the 401k. Contribute until it hurts, then contribute some more. I think the current limit is $3k for the Roth, and $13k for the 401k. Mine's a 403(b), and we seem to have higher limits than that. Not because it's a 403b, it's because you're an old fart. Those over 50 have higher limits to give them a chance to "catch up". You get an extra 3 grand. Quote Share this post Link to post Share on other sites
skymama 35 #34 January 21, 2004 QuoteI'm thinking Wal-Mart greeter is in my future Hey Damit! You stole that idea from me!! I don't remember you saying that, but that's ok. You can work the weekend shift while Sunshine and I go skydive. It's my happy day, Walmart Supercenter opened up right by my house today!She is Da Man, and you better not mess with Da Man, because she will lay some keepdown on you faster than, well, really fast. ~Billvon Quote Share this post Link to post Share on other sites
slug 1 #35 January 21, 2004 QuoteMight want to increase that when you can . . . unless you plan on dropping dead about 6 months after you retire. I started out with 1%, and have since increased it. I'll be 64 in 40 years . . . Kelly 40 years until retirement good news bad news. We went to some retirement planning stuff and with compound interest etc. There is a very significant advantage to start saving "whatever you can" when your young, rather trying to play catch up when you get older. There may be some table's info etc. on the benifit's of early retirement savings on Bankrate.com. Of course all this math stuff leave's out the intangiable benifit's of the "fun factor" that you'll be missing out if your saving rather than doing starbucks, new cloth's, fancy cars etc. Beware of Enron type retirement plans Quote Share this post Link to post Share on other sites
jfields 0 #36 January 21, 2004 QuoteWe went to some retirement planning stuff and with compound interest etc. There is a very significant advantage to start saving "whatever you can" when your young, rather trying to play catch up when you get older. http://www.jennandjustin.com/invest-articles-compounding.asp Quote Share this post Link to post Share on other sites WFFC 1 #37 January 21, 2004 At a minimum, change to the max that your employer will match to get the most benefit out of it. Quote Share this post Link to post Share on other sites PLFKING 3 #38 January 21, 2004 QuoteQuote -------------------------------------------------------------------------------- Right now I don't have any kind of retirement plan. I'm thinking Wal-Mart greeter is in my future when I get to be an old woman. -------------------------------------------------------------------------------- Same here. We can have one of those senior citizen apartments and work alternate days. I can't believe y'all don't have a solid plan already. Since I haven't patented my plan, and y'all are friends, you may copy if you wish. 1) Spend all my money as fast as I make it, until I turn 65. 2) Rob a major bank on my 65th Bday. This will result in either... a) get away with enough cash to live on comfortably for the rest of my life, or b) get arrested, and spend the rest of my life in prison. I'm so ugly, I wojn't have to worry about getting molested, and the state will house and feed me. This is only MY plan......I'm not sure how those prison dykes will treat two hotties like y'all. Don"When in doubt I whip it out, I got me a rock-and-roll band. It's a free-for-all." Quote Share this post Link to post Share on other sites Glipazide 0 #39 January 22, 2004 I started kinda late. At 25. So I raised mine up to 15% to make up for lost time. I should be good to go at 60ish :) After a month, you dont even miss it. You will be glad you did :) Clint S.http://sexygirlabs.com/url] Quote Share this post Link to post Share on other sites freeflir29 0 #40 January 22, 2004 I have a pretty sweet deal. I'm putting in 14% (Max allowed) and my employer matches about 4.5%. I did a conservative calculation the other day and came up with $839,000 and change when I retire at 50. With my 60% or so of my salary as pension.....I should be living the good life. If I don't die before then. Quote Share this post Link to post Share on other sites slug 1 #41 January 22, 2004 QuoteQuoteWe went to some retirement planning stuff and with compound interest etc. There is a very significant advantage to start saving "whatever you can" when your young, rather trying to play catch up when you get older. http://www.jennandjustin.com/invest-articles-compounding.asp Yep thats the benifit of starting to save at a young age. However the bottom chart and the 10-12% return in the stock market might be overly optimistic or dependent on the years they chose for their data base. There has been a "significant adjustment in the value of the equity market" (Crash) aka bear mkt, since the turn of the century. Most folks haven't been getting anywhere close to that. I've seen long term projections of 7% in the stock market over 40 years but I'm not a FP. Do your own research. The higher the return the greater the risk. R.I.P. Quote Share this post Link to post Share on other sites Beerlight 0 #42 January 22, 2004 QuoteI have a pretty sweet deal. I'm putting in 14% (Max allowed) ] Different companies allow a different max, eh? Quote Share this post Link to post Share on other sites BETO74 0 #43 January 22, 2004 I have two jobs 3 retirement accounts one 401K with one employer 403b w/ Primeamerica and Fl retirement account but my real retiment will be sell my condo and buy an RV move to a DZ and work as whatever dont care as long as I'm jumping. Ahhh difference between 401K and 403b, 401K you employer matches your contribution after some time, 403B is an investment w/ stocks you can end up losing some money so to minimize the risk you invest in different types of stock lke conservative grow or more agressive technology stock, you can end up very rich one day and very poor the next day. like Enronhttp://web.mac.com/ac057a/iWeb/AC057A/H0M3.html Quote Share this post Link to post Share on other sites jfields 0 #44 January 22, 2004 QuoteYep thats the benifit of starting to save at a young age. However the bottom chart and the 10-12% return in the stock market might be overly optimistic or dependent on the years they chose for their data base. There has been a "significant adjustment in the value of the equity market" (Crash) aka bear mkt, since the turn of the century. Most folks haven't been getting anywhere close to that. I've seen long term projections of 7% in the stock market over 40 years but I'm not a FP. That is about the average of the stock market over the long term. By that, I don't mean since the turn of the last century (2000), I mean the turn of the century before that. Even through the crash of 1929 and the great depression, the equities average over the long haul has been about 10%, beating pretty much other asset class. Even if we knock the assumptions back some, the points about compounding still stand. QuoteDo your own research. Wise words! QuoteThe higher the return the greater the risk. Also true. Quote Share this post Link to post Share on other sites Layton 0 #45 January 22, 2004 hey i want that job.ill wrestle ya for it! Quote Share this post Link to post Share on other sites skymama 35 #46 January 22, 2004 Hmmm...you're not just finding an excuse to wrestle me, are you? There are lots of Wal-Marts around! She is Da Man, and you better not mess with Da Man, because she will lay some keepdown on you faster than, well, really fast. ~Billvon Quote Share this post Link to post Share on other sites Stacy 0 #47 January 22, 2004 QuoteAhhh difference between 401K and 403b, 401K you employer matches your contribution after some time, 403B is an investment w/ stocks you can end up losing some money so to minimize the risk you invest in Actually I think the only difference between 401K and 403B is that 403B is via a nonprofit organization and 401K is from a for profit. I have a 403B frm my company (non profit) and it IS contributed to by my employer (5%) AND i have a kajillion options with how to invest it. I can do stocks, etc etc or money market. Same things my boyfriend can do with a 401K. __ Quote Share this post Link to post Share on other sites WFFC 1 #48 January 22, 2004 QuoteQuoteAhhh difference between 401K and 403b, 401K you employer matches your contribution after some time, 403B is an investment w/ stocks you can end up losing some money so to minimize the risk you invest in Actually I think the only difference between 401K and 403B is that 403B is via a nonprofit organization and 401K is from a for profit. I have a 403B frm my company (non profit) and it IS contributed to by my employer (5%) AND i have a kajillion options with how to invest it. I can do stocks, etc etc or money market. Same things my boyfriend can do with a 401K. __ You are correct. The only major difference between the two is 401k is from a for profit business, 403b non profit. There are other subtle differences but if you really want to get down to that fine of print, clal your broker. Quote Share this post Link to post Share on other sites wingnut 0 #49 January 22, 2004 wish i had a 401k program... my employer has a retiment thing going but well it's th emilitary so they math 0% yup zero....lol... i look at it this way though... the ebnifits i get after i would retire are pretty good in y opinion so i'm not really worrying about them not matching anything... got my own Roth IRA going since i was 20...... got 42 more years until i hit 65........ ______________________________________ "i have no reader's digest version" Quote Share this post Link to post Share on other sites flyhi 24 #50 January 22, 2004 QuoteThe maximum allowed contribution for a Roth IRA currently* comes to $250.00 per month. Some of us, officially deemed very special people by the US Government, can contribute $291.66 per month.Shit happens. And it usually happens because of physics. Quote Share this post Link to post Share on other sites Prev 1 2 3 Next Page 2 of 3 Join the conversation You can post now and register later. If you have an account, sign in now to post with your account. Note: Your post will require moderator approval before it will be visible. Reply to this topic... × Pasted as rich text. Paste as plain text instead Only 75 emoji are allowed. × Your link has been automatically embedded. Display as a link instead × Your previous content has been restored. Clear editor × You cannot paste images directly. Upload or insert images from URL. Insert image from URL × Desktop Tablet Phone Submit Reply 0
WFFC 1 #37 January 21, 2004 At a minimum, change to the max that your employer will match to get the most benefit out of it. Quote Share this post Link to post Share on other sites
PLFKING 3 #38 January 21, 2004 QuoteQuote -------------------------------------------------------------------------------- Right now I don't have any kind of retirement plan. I'm thinking Wal-Mart greeter is in my future when I get to be an old woman. -------------------------------------------------------------------------------- Same here. We can have one of those senior citizen apartments and work alternate days. I can't believe y'all don't have a solid plan already. Since I haven't patented my plan, and y'all are friends, you may copy if you wish. 1) Spend all my money as fast as I make it, until I turn 65. 2) Rob a major bank on my 65th Bday. This will result in either... a) get away with enough cash to live on comfortably for the rest of my life, or b) get arrested, and spend the rest of my life in prison. I'm so ugly, I wojn't have to worry about getting molested, and the state will house and feed me. This is only MY plan......I'm not sure how those prison dykes will treat two hotties like y'all. Don"When in doubt I whip it out, I got me a rock-and-roll band. It's a free-for-all." Quote Share this post Link to post Share on other sites
Glipazide 0 #39 January 22, 2004 I started kinda late. At 25. So I raised mine up to 15% to make up for lost time. I should be good to go at 60ish :) After a month, you dont even miss it. You will be glad you did :) Clint S.http://sexygirlabs.com/url] Quote Share this post Link to post Share on other sites
freeflir29 0 #40 January 22, 2004 I have a pretty sweet deal. I'm putting in 14% (Max allowed) and my employer matches about 4.5%. I did a conservative calculation the other day and came up with $839,000 and change when I retire at 50. With my 60% or so of my salary as pension.....I should be living the good life. If I don't die before then. Quote Share this post Link to post Share on other sites
slug 1 #41 January 22, 2004 QuoteQuoteWe went to some retirement planning stuff and with compound interest etc. There is a very significant advantage to start saving "whatever you can" when your young, rather trying to play catch up when you get older. http://www.jennandjustin.com/invest-articles-compounding.asp Yep thats the benifit of starting to save at a young age. However the bottom chart and the 10-12% return in the stock market might be overly optimistic or dependent on the years they chose for their data base. There has been a "significant adjustment in the value of the equity market" (Crash) aka bear mkt, since the turn of the century. Most folks haven't been getting anywhere close to that. I've seen long term projections of 7% in the stock market over 40 years but I'm not a FP. Do your own research. The higher the return the greater the risk. R.I.P. Quote Share this post Link to post Share on other sites
Beerlight 0 #42 January 22, 2004 QuoteI have a pretty sweet deal. I'm putting in 14% (Max allowed) ] Different companies allow a different max, eh? Quote Share this post Link to post Share on other sites
BETO74 0 #43 January 22, 2004 I have two jobs 3 retirement accounts one 401K with one employer 403b w/ Primeamerica and Fl retirement account but my real retiment will be sell my condo and buy an RV move to a DZ and work as whatever dont care as long as I'm jumping. Ahhh difference between 401K and 403b, 401K you employer matches your contribution after some time, 403B is an investment w/ stocks you can end up losing some money so to minimize the risk you invest in different types of stock lke conservative grow or more agressive technology stock, you can end up very rich one day and very poor the next day. like Enronhttp://web.mac.com/ac057a/iWeb/AC057A/H0M3.html Quote Share this post Link to post Share on other sites
jfields 0 #44 January 22, 2004 QuoteYep thats the benifit of starting to save at a young age. However the bottom chart and the 10-12% return in the stock market might be overly optimistic or dependent on the years they chose for their data base. There has been a "significant adjustment in the value of the equity market" (Crash) aka bear mkt, since the turn of the century. Most folks haven't been getting anywhere close to that. I've seen long term projections of 7% in the stock market over 40 years but I'm not a FP. That is about the average of the stock market over the long term. By that, I don't mean since the turn of the last century (2000), I mean the turn of the century before that. Even through the crash of 1929 and the great depression, the equities average over the long haul has been about 10%, beating pretty much other asset class. Even if we knock the assumptions back some, the points about compounding still stand. QuoteDo your own research. Wise words! QuoteThe higher the return the greater the risk. Also true. Quote Share this post Link to post Share on other sites
Layton 0 #45 January 22, 2004 hey i want that job.ill wrestle ya for it! Quote Share this post Link to post Share on other sites
skymama 35 #46 January 22, 2004 Hmmm...you're not just finding an excuse to wrestle me, are you? There are lots of Wal-Marts around! She is Da Man, and you better not mess with Da Man, because she will lay some keepdown on you faster than, well, really fast. ~Billvon Quote Share this post Link to post Share on other sites
Stacy 0 #47 January 22, 2004 QuoteAhhh difference between 401K and 403b, 401K you employer matches your contribution after some time, 403B is an investment w/ stocks you can end up losing some money so to minimize the risk you invest in Actually I think the only difference between 401K and 403B is that 403B is via a nonprofit organization and 401K is from a for profit. I have a 403B frm my company (non profit) and it IS contributed to by my employer (5%) AND i have a kajillion options with how to invest it. I can do stocks, etc etc or money market. Same things my boyfriend can do with a 401K. __ Quote Share this post Link to post Share on other sites
WFFC 1 #48 January 22, 2004 QuoteQuoteAhhh difference between 401K and 403b, 401K you employer matches your contribution after some time, 403B is an investment w/ stocks you can end up losing some money so to minimize the risk you invest in Actually I think the only difference between 401K and 403B is that 403B is via a nonprofit organization and 401K is from a for profit. I have a 403B frm my company (non profit) and it IS contributed to by my employer (5%) AND i have a kajillion options with how to invest it. I can do stocks, etc etc or money market. Same things my boyfriend can do with a 401K. __ You are correct. The only major difference between the two is 401k is from a for profit business, 403b non profit. There are other subtle differences but if you really want to get down to that fine of print, clal your broker. Quote Share this post Link to post Share on other sites
wingnut 0 #49 January 22, 2004 wish i had a 401k program... my employer has a retiment thing going but well it's th emilitary so they math 0% yup zero....lol... i look at it this way though... the ebnifits i get after i would retire are pretty good in y opinion so i'm not really worrying about them not matching anything... got my own Roth IRA going since i was 20...... got 42 more years until i hit 65........ ______________________________________ "i have no reader's digest version" Quote Share this post Link to post Share on other sites
flyhi 24 #50 January 22, 2004 QuoteThe maximum allowed contribution for a Roth IRA currently* comes to $250.00 per month. Some of us, officially deemed very special people by the US Government, can contribute $291.66 per month.Shit happens. And it usually happens because of physics. Quote Share this post Link to post Share on other sites
