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Out of curiosity how much does everyone put in with employers that do not match anything? About a year ago my employer stopped matching anything so I have slimmed down (and stopped at one point) all of my contributions. They supposedly will begin again when the economy gets better, so Ive been considering saving up some cash and putting more in at that time....
Out of curiosity how much does everyone put in with employers that do not match anything? About a year ago my employer stopped matching anything so I have slimmed down (and stopped at one point) all of my contributions. They supposedly will begin again when the economy gets better, so Ive been considering saving up some cash and putting more in at that time....
I was only doing 20 a month, but I'm just going to save up and open an ira.
Out of curiosity how much does everyone put in with employers that do not match anything? About a year ago my employer stopped matching anything so I have slimmed down (and stopped at one point) all of my contributions. They supposedly will begin again when the economy gets better, so Ive been considering saving up some cash and putting more in at that time....
I maxed mine out for the last 10 years with my employer barely giving anything.
I've maxed out since I was about 28, as has my husband. For many years my employer did not match. Now I have a minimal match from my employer. In 401(k) funds we have in the middle six figures. Looking back, we were probably too conservative with our fund choices early on. I'm 43 now.
39yo @ 215K ('after crash') in 401k. 50K of that is retirement fund rollover from quitting my company. only been working in the US for 12 years (10years in NYC!) so cut me some slack . anyway, I dont think I can manage this 401k account anymore so I have to rollover somewhere when DOW is @14k.
Well this thread surely makes me feel inadequate (even if it is an old thread). Those here are/were leagues above the general population. But then again I suppose most with no or little savings in 401k will just not post and those with quite a bit enjoy posting about it.
Consider for a moment that the US spending and deficits will amount to a debt load of 200% of GDP by 2038 if Congress doesn't change its evil ways.
If this uncontrolled spending continues, my tax deferred 401k runs the risk of being taxed at rates that are unheard of when I retire in the 2040's. By only investing in what my company matches in my 401k, I am getting 100% return on that money plus whatever interest that account makes. I invest a bit more in my 401k on top of this to reach my goal of 20% savings.
My Roth IRA is tax free at retirement and I have more investment options than with my company 401k. I have professional management from an objective, fee based CFP in addition to an investment advisor is a straight shooter himself (for a salesman, anyway). I am basically taking a position that my taxes will be higher at the time I retire than they are now. I will gladly pay taxes now while they are reasonably low.
I plan on placing some short term money into a CD ladder as my general savings accumulates. This will give me the option of some liquidity every 6-12 months should I need it. I won't be doing that until my other goals are taken care of though, but that's the plan.
If the US continues to run up debts like it has the last few years it's NOT going to matter WHERE you put your money. There's a pretty good chance we'll end up like Greece at the rate we're going, and if so, it will happen long before 2038.
The engineers always seem to have the money. Why engineers understand the concept of saving while others don't ever seem to get it perplexes me greatly
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. anyway, I dont think I can manage this 401k account anymore so I have to rollover somewhere when DOW is @14k.
