Post a screenshot of your 401K balance

[Broke Wave]

That's why I had a roth401k, but the yearly contribution is limited to 5k.

If you have plenty of liquid cash coming in every year there is no reason not to. I just look at is a savings account with risk.

There are a lot of other good investment opportunities but unless you have tens of thousands coming in every year to just play with... what are you really going to be able to do?

There isn't really much you can do, which is why I'm not against having something like a roth401k or maybe something a little more leniant. In Canada we have RRSP's which I'm not sure how they work but are prob the same... But you've got the right idea if you own a small property. Real Estate is extremely volatile from a MACRO perspective, but from a MICRO perspective, each individual is best suited to actually physically examine a property and a region. So while the property you lease maybe be high risk on paper to an investor who is buying in bulk, to you it might be an excellent investment. Things like "risk" are actually subjective when you change the perspective which you're looking at them.

Then again 1. I'm not in the workforce and won't be for a lil while 2. We both have no kids or wife which is not the case for these other dudes.

 

[Serious]

I'm 34 breh.

 

[88m3]

There isn't really much you can do, which is why I'm not against having something like a roth401k or maybe something a little more leniant. In Canada we have RRSP's which I'm not sure how they work but are prob the same... But you've got the right idea if you own a small property. Real Estate is extremely volatile from a MACRO perspective, but from a MICRO perspective, each individual is best suited to actually physically examine a property and a region. So while the property you lease maybe be high risk on paper to an investor who is buying in bulk, to you it might be an excellent investment. Things like "risk" are actually subjective when you change the perspective which you're looking at them.

Then again 1. I'm not in the workforce and won't be for a lil while 2. We both have no kids or wife which is not the case for these other dudes.

I'm in an area that wasn't greatly affected by the re bubble. The economic downturn didn't reach the area till years afterwards. Things are back to normal here now. New businesses, houses being built, property selling. I drove by a house earlier today and there was a good 10k/15k+ of packaged mulch waiting to be spread and laughed. There's a lot of money here, and there always has been. I have a really good handle on the markets I'm invested in. It would take the end of the world for there to be any real volatility there, and that's not arrogance or exaggeration.

I'd much rather do what I am now than almost anything else(within reason).


Thankfully

 

[Chris Mauro]

[ame]https://www.youtube.com/watch?v=mwoC26jDk64[/ame]

 

[Field Marshall Bradley]

It was that guy demon. I'm not very fond of you, but I will concur that that dude is a bytch with his fallopian tubes in a bow. He's the type of dude who people slapped off muscle memory from K through 12.

That's a quotable right there…… I def knew cats like that coming up…Still do sad to say………

 

[MostReal]

*Steers good thread back to subject*

I don't think I would ever keep a substantial amount of money in a IRA or 401k... The only thing that appeals to me is the employer matching some of your contributions, but outside of that I don't think having so many static funds is going to lead to my long term success. There are so many great investment opportunites out there that take a lot of patience, time and risk tolerence which can basically send you to an early retirement.

Then again I'm 21

wish I would have started when i was your age...I'd be by now

after watching that vid...guys when do you all think is a good time to actually move your loot to something a bit more stable. With the recent Recession...it would seem logical to have a plan to move your money out before retirement.

My company had a Pension plan that was crazy...we would get 75% of our income at retirement but then these new bosses came and crushed the buildings.

Also, why isn't this a requirement for these Pro football players etc. Most of these dudes would be more modest with their money if they didn't have access to all of that cash in their hand & it was set up in mutual funds etc. for their future.

Good thread by the way.

 

[BlvdBrawler]

wish I would have started when i was your age...I'd be by now

Foreal. Starting at 21??? I'd be

after watching that vid...guys when do you all think is a good time to actually move your loot to something a bit more stable. With the recent Recession...it would seem logical to have a plan to move your money out before retirement.

Yea, that's what everyone is supposed to do. The folks that lost the most money were probably heavily invested in stocks up through their 50's; that's a bad strategy. Right now I'm 91% stocks, 9% bonds. As the years go by, I plan to shift 2% out of stocks into bonds each year. Should provide the desired stability as I near retirement.

 

[Dusty Bake Activate]

Right now I'm 91% stocks, 9% bonds.

Me too. You can see it on my screen shot. I'm 32, turning 33 in a few months. The stock-bond ratio by age must be standard across most brokers. It's set to automatically move more heavily toward bonds as I get closer to retirement.

 

[WeDemBoyz]

The market has been a wealth creator so far in fiscal '13.

Today's P/L

 

[Mr Uncle Leroy]

Ahm... 10 years. Started contributing in 2007 I think?

how much do you contribute? Does the company offer matching? which %?

 

[Mr Uncle Leroy]

Right now, 15% with 5% company match, but I play with that number a bit depending on if I need extra cash in a month.

Started when I was 28. Wish I had started sooner.

Edit: My IRA is as fukk tho.

15%, very aggresive!

 

[Mr Uncle Leroy]

I been at my current company for 7 years.

how much do you contribute? Does the company offer matching? which %?

 

[IVS]

After 4 years. I'll be fully vested come November.

 

[Blackking]

i'm broke...took the day off to apply for jobs.

it is what it is but i'm trying to climb up in this world.

What do you do... where do you live? maybe I can help so let me know fareal.

As long as that person is doing something productive with the money plus the match they were gonna get from investing in a 401k, then I don't see the issue...

It's not an issue... I have over 100k in my sh1t.. and I also have money in one from the gov. and I have some random stocks.... But maybe I don't understand economics or something.. but I understand living your life. Saving /= living. You only need enough to help your kids out for a while... beyond that, your investments, imo, should be quick enough so that when your in your 40's and 50's you aren't still saving for sh1t. You can't eat good with 100K or 200K for the rest of your life. You should have investments and businesses that keep on building whether you have a job or not. to the n1gga involved in real estate... I forget which poster that was.

Typical c00n. Always counting another mans money.

Do you. Quite being a toilet though and people won't try to sh1t on you.

In 10 years you would have had 342 thousand dollars. I'm not saying that you should call Klarman, or that you should do this or that, or anything. All I'm asking is for you to consider the very real possibilities of much greater than 401k returns in a low risk investment pool. This is basically the purpose of hedgefunds and PE groups.

You'd be 42-43 with 342 thousand dollars in the bank theoretically, I highly doubt you're going back to work

This is the type of sh1t me and my best friend have been talking about lately. ... We're doing all the right things, but the math isn't adding up to our end goal. I don't feel the goal is too high... Allah has told me this much. I need a financially minded person to help me fill in the rest. I'm in the absolutely best position to do big things but no knowledge on how to do it, because all my associates plan on being 60 years old before they are done building.

And you're only 21... I'm jealous... I wasnt thinking about this sh1t at 21.

 

[Serious]

fukk y'all lazy nikkas I'm trying to work til the day I die, while living a disability free lifestyle

fukk is there to do in life when you retire at 45? Trick on young hoes?