401k

[mannyrs13]

i got fidelity. i chose balanced because i wasnt sure what i was looking at but i should probably change it to aggressive

Go with aggressive. You're going and able to withstand the risks in the market. Keep an eye on the performance of each fund like every so often. I divide mine up amongst a few funds plus my companies stock. If I see a fund had been doing bad, I just switch that percentage to another. But it's better to be aggressive now and then stable later. Scared money don't make money.

 

[mannyrs13]

At my company they match up to 8%. And the account that we have allows us to divest some of that money into an IRA allowing us to use that money towards trades as we see fit.

8% is likely one of the highest. My company does 4. Some companies don't even match 1. Everyone should take advantage no matter the match tho. It's free money.

 

[beanz]

Go with aggressive. You're going and able to withstand the risks in the market. Keep an eye on the performance of each fund like every so often. I divide mine up amongst a few funds plus my companies stock. If I see a fund had been doing bad, I just switch that percentage to another. But it's better to be aggressive now and then stable later. Scared money don't make money.

Thank breh

Be seeing u in trivia crack again soon

EDIT: these questions are getting tougher

 

[havoc]

I've been putting 25% into mine for the better half of a decade.

I wish I was you

 

[AtomicUse]

I wish I was you

Let the market hit a wall again though, go from to to

 

[-G$-]

big up day for stocks yesterday, always nice to login the morning after and check your portfolio balance

 

[BaldingSoHard]

I've been putting 25% into mine for the better half of a decade.

 

[BaldingSoHard]

big up day for stocks yesterday, always nice to login the morning after and check your portfolio balance

40% of my portfolio is in the financial sector.

My shyt has been on a killing spree since the election.

 

[murksiderock]

For those who were around during the '08 Recession (I was in prison so it had no effect on me), would you recommend cashing out your 401k before the recession of next year hits hard? How will you know when is the right time to do so?

Asking as I've watched my 401k stagnate over the first half of this year, I should be way way up but the economy is shytting on it. And I'm really not trying to lose all my money...

Also would you withdraw all your cash from your bank accounts as well? I have two banks I hold cash in...

They are forecasting the recession for early '23, I just don't want to be one if these people who is unprepared for it. Any and all advice is appreciated!

 

[Apollo Creed]

For those who were around during the '08 Recession (I was in prison so it had no effect on me), would you recommend cashing out your 401k before the recession of next year hits hard? How will you know when is the right time to do so?

Asking as I've watched my 401k stagnate over the first half of this year, I should be way way up but the economy is shytting on it. And I'm really not trying to lose all my money...

Also would you withdraw all your cash from your bank accounts as well? I have two banks I hold cash in...

They are forecasting the recession for early '23, I just don't want to be one if these people who is unprepared for it. Any and all advice is appreciated!

Why would you cash out your 401k unless you are knocking on the door of legal retirement? You ride the wave and continue to buy the dip. When the market recovers you come out on top because you bought cheap. If times are hard you may not be in a position to even be contributing to a 401k (if anything halt contributions now, and use this time to build a emergency fund, but still dont cash out your 401k).

You gonna deal with penalties + taxes + the market already being down lol

 

[murksiderock]

Why would you cash out your 401k unless you are knocking on the door of legal retirement? You ride the wave and continue to buy the dip. When the market recovers you come out on top because you bought cheap. If times are hard you may not be in a position to even be contributing to a 401k (if anything halt contributions now, and use this time to build a emergency fund, but still dont cash out your 401k).

You gonna deal with penalties + taxes + the market already being down lol

No doubt. Just asking, I don't know shyt...

I'm sure I'll still be able to contribute, I've just heard so many stories about people losing all their retirement in the last recession. If I halt contributions would I still be at risk of losing it all in a recession?

 

[Apollo Creed]

No doubt. Just asking, I don't know shyt...

I'm sure I'll still be able to contribute, I've just heard so many stories about people losing all their retirement in the last recession. If I halt contributions would I still be at risk of losing it all in a recession?

it mainly is only old folks who end up shyt out of luck. Younger folks come out on top cause (assuming we recover like post 2008), you are able to buy more shares since prices are down (but you are contributing the same amount), so when the market booms you come out on top.

I'm down 10s of thousands, but still maxing mine out annually. If I was in my late 50s that would be a different story (because I wouldn't have time to recover more than likely).