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View Poll Results: Have you increased your 401K/IRA contribution?
Yes 10 34.48%
No 19 65.52%
Voters: 29. You may not vote on this poll

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Old 06-23-2008, 04:28 PM
 
16,086 posts, read 38,748,390 times
Reputation: 6324

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Stocks on sale?

I just read an article which said 16% say they have increased their contribution - turns out most are over 50. What do you think and what is your age?
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Old 06-23-2008, 04:32 PM
 
Location: Stuck on the East Coast, hoping to head West
4,597 posts, read 10,837,758 times
Reputation: 9715
I actually decreased mine---I'm late 30's. I wanted more control, more diversification than was offered so I scaled back to my company match.
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Old 06-23-2008, 04:36 PM
 
Location: Utah
5,108 posts, read 15,703,681 times
Reputation: 5316
I decreased mine to my employer's match - 40 years old. I'm using the extra money to make home improvements. Perhaps by the end of this year, I'll bump it back up again. It was at 12% and my employer contributes 2%. My employer also contributes 12% to my state retirement.
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Old 06-23-2008, 06:42 PM
 
Location: Apple Valley Calif
7,474 posts, read 21,720,349 times
Reputation: 5651
I am retired now, but when I was contributing, I always liked it when the market was down. It means you are getting more shares for your dollar, and when the market returns, which it will, you come out ahead by having purchased all you can in the down market.
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Old 06-23-2008, 07:53 PM
 
Location: Southeast
625 posts, read 4,359,520 times
Reputation: 366
I'll probably increase mine mainly for the purpose of decreasing my taxable income-really depends on if Obama gets in or not because I can bet taxes will go up if he does and hopefully he won't take away the 401k tax advantages from all the "rich" middle class people who contribute.
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Old 06-24-2008, 09:52 AM
 
Location: The Pacific NW.
879 posts, read 1,867,123 times
Reputation: 489
Quote:
Originally Posted by Donn2390 View Post
I am retired now, but when I was contributing, I always liked it when the market was down. It means you are getting more shares for your dollar, and when the market returns, which it will, you come out ahead by having purchased all you can in the down market.
Exactly.
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Old 06-25-2008, 01:44 PM
 
Location: Papillion
2,589 posts, read 9,997,519 times
Reputation: 904
45 years old and increasing due to the down market.... if I'm thinking my 401(k) won't be tapped for another 18-20 years I think a very prime opportunity would be missed by not increasing so you can buy.

For the non-sophisticated inestor, (In or out of your retirement) this is the perfect time to be dollar cost averaging!!!
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Old 07-05-2008, 12:37 PM
 
Location: Houston, TX
17,031 posts, read 28,940,987 times
Reputation: 16227
Im increasing as the down market is the time to buy...agree with dollar cost averaging!!! Im 40 and contribute 15% pretax. I dont think there will be social security when I retire so I'm hoping to stock up on dividends.
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Old 07-05-2008, 03:11 PM
 
Location: RSM
5,113 posts, read 18,592,497 times
Reputation: 1918
im waiting to see what happens with the new presidency before making any major contribution changes to my 401(k). if income taxes are going to be raised, ill rollover into an ira and go from there
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Old 07-05-2008, 05:23 PM
 
Location: High Bridge
2,736 posts, read 9,162,035 times
Reputation: 670
I've been keeping it the same, but I think I'm going to adjust back to company match. This isn't due to the economy, but instead more cash in hand as I do work on my first home.
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