401k

[BlvdBrawler]

dont really consider myself "counting" on it for the future because i'd want to think that my work trajectory would render a 401K or social security useless as I'd wanna be raking in $ hand over fist

You're thinking about it all wrong. If you're making that much, you're a prime candidate for ending up wealthy, which means that you won't miss say 10% of your income yearly. Then, after you stop earning money, imagine looking up and seeing that you have 4 million dollars in an account somewhere in addition to whatever you've built over your career.

 

[Remote]

Up to 52k now.

Only grew like 3% last quarter tho.




I should cash out and move to Bolivia.
Where money goes a long way

 

[beanz]

Up to 52k now.

Only grew like 3% last quarter tho.




I should cash out and move to Bolivia.
Where money goes a long way

my father in law showed his to my wife last week.

160k

i only have 2 years at this job so mine is still

 

[-G$-]

i max out and my employer matches half. just one of a few places i put my money. my sh!t is looking healthy.

 

[Remote]

my father in law showed his to my wife last week.

160k

i only have 2 years at this job so mine is still

I know man.
I should have more....2007 set me back a bit.

Plus, I haven't been putting as much into it lately.
You get a few months where you're cutting it close on the bills and it's like...."yeah, I can put a percent or 2 less to my 401k..."

 

[beanz]

I know man.
I should have more....2007 set me back a bit.

Plus, I haven't been putting as much into it lately.
You get a few months where you're cutting it close on the bills and it's like...."yeah, I can put a percent or 2 less to my 401k..."

thats what it is. i lowered mine when i had to save for my wedding. i was doing 8% for a while and i dropped it to 4% and only picked it back up to 6% until i get my raise in april.

 

[BezO]

Just invest. Whether it's through a 401K, Roth, personal investment account, real estate, business, whatever. Get your money to work for you. There are pluses & minuses to all avenues.

Rich folks are not gettin' rich off jobs & savings. Salary/wage is taxed at a higher rate than investment income (not real estate). And savings accounts don't even match inflation.

Study and understand/control your risk. Yes, there will be risk, but that's how money is made. Part of what keeps poor folks poor is fear. Don't succumb.

If you're in or about to go to college, at least minor in economics, finance or entrenpreneurialism. Learn how money works & how to make it.

If college ain't for you or you're already done, get some books & study up.

And cut bills before you cut investments.

 

[Remote]

Just invest. Whether it's through a 401K, Roth, personal investment account, real estate, business, whatever. Get your money to work for you. There are pluses & minuses to all avenues.

Rich folks are not gettin' rich off jobs & savings. Salary/wage is taxed at a higher rate than investment income (not real estate). And savings accounts don't even match inflation.

Study and understand/control your risk. Yes, there will be risk, but that's how money is made. Part of what keeps poor folks poor is fear. Don't succumb.

If you're in or about to go to college, at least minor in economics, finance or entrenpreneurialism. Learn how money works & how to make it.

If college ain't for you or you're already done, get some books & study up.

And cut bills before you cut investments.

 

[The Refiner]

My employer doesn't match smh...I still contribute to my 401k though but not much.

Looking for some other things to do besides 401k...any ideas?

 

[I_Got_Da_Burna]

My employer doesn't match smh...I still contribute to my 401k though but not much.

Looking for some other things to do besides 401k...any ideas?

real estate

 

[The Refiner]

real estate

I guess, but real estate is real costy in my city and I'm kind of just starting out. I still have debt.

 

[BezO]

My employer doesn't match smh...I still contribute to my 401k though but not much.

Looking for some other things to do besides 401k...any ideas?

My current employer doesn't match either. My former employer contributed 6% of my salary AND matched in addition to that. Those were the days. I just manage that 401K, which is doing well.

Consider a Roth. You invest after tax money, but the earnings are not taxed. Better than a 401K IMO.

I have a personal investment account. I study alot, so I'm confortable investing in indivudual stocks. Prior to that, I relied on mutal funds. Low fees & good management is what you should look for.

If you don't already own property, look into it. 1st time homebuyer programs everywhere. Study your city & get somethin' in an up & comin' area. You could get somethin' for little to nothin' down. Some offer no closin' cost as well. Do it right & it won't cost you more than what folks pay in rent. Equity in a home could be used in serveral ways. Or you can go the multi-family route & get the slow, steady money.

 

[The Refiner]

My current employer doesn't match either. My former employer contributed 6% of my salary AND matched in addition to that. Those were the days. I just manage that 401K, which is doing well.

Consider a Roth. You invest after tax money, but the earnings are not taxed. Better than a 401K IMO.

I have a personal investment account. I study alot, so I'm confortable investing in indivudual stocks. Prior to that, I relied on mutal funds. Low fees & good management is what you should look for.

If you don't already own property, look into it. 1st time homebuyer programs everywhere. Study your city & get somethin' in an up & comin' area. You could get somethin' for little to nothin' down. Some offer no closin' cost as well. Do it right & it won't cost you more than what folks pay in rent. Equity in a home could be used in serveral ways. Or you can go the multi-family route & get the slow, steady money.

Got that already...just makes more sense to me right now.

 

[Rusty Kuntz]

My employer doesn't match smh...I still contribute to my 401k though but not much.

Looking for some other things to do besides 401k...any ideas?

That sucks. More companies need to.

I have my hands in multiple things... a couple rental properties, Roth IRA (in addition to company-sponsored 401k), in the works of starting a little side hustle. I'm just trying to have multiple income streams.

 

[Apollo Creed]

Yall really make that little that 3-6% of your check is a big deal you dont want to put it in a 401k?

Lol damn



I Put the max my employer matches and forget about it, as if it doesnt exist, then when its time to tap into it i would think of it as a bonus.