Should I max my 401K contributions?

[R.E.N. Spells Ren]

Life is short breh, I want my money now so I csn use that money on more property. Not so ill have to nickel and dime my money @ 60. Don't ypu guys see the L your going to tske?

If it's either/or for you, then trust me, breh, you're the one who's losing in this life.

 

[BlvdBrawler]

I never said is was a terrible program. Im saying its better ways to invest. I personally wouldnt max it. Invest that money in better things.

Forced to disagree again.

If I could invest every dollar I invest now, pre-tax, and with someone else matching my contributions up to a certain percent... sheeeeeit, I wish they would fukk around and give a nikka some shyt like that.

But, we just disagree. That's alright. Glad you're looking out for your seed, breh. That's good shyt.

 

[Maddmike]

Not to mention dividends (), interest compounded over 30 YEARS , and tax breaks during working years .

I don't see how people don't understand this shyt. It's a no-brainer.

You do understand that employer matching crap @ 7-8% is basically being used to pay mutual fund fees and other fees that they will blind side you with? Look breh im not trying to change yall mind cuz obviously yalls are made. Just do me a favor and research it. Im just trying to look out really I am.

 

[PikaDaDon]

What if you're self-employed? How do you set this shyt up?

 

[Maddmike]

If it's either/or for you, then trust me, breh, you're the one who's losing in this life.

No really im straight. ...ill own this house in 10 years. Buy another @ 40 and be on my third @ 60. Real talk property is the way to go.

 

[BlvdBrawler]

You do understand that employer matching crap @ 7-8% is basically being used to pay mutual fund fees and other fees that they will blind side you with? Look breh im not trying to change yall mind cuz obviously yalls are made. Just do me a favor and research it. Im just trying to look out really I am.

Yea, there's fees. Over the life of my 401(k), there'll be a good amount of fees.

Last year, though, I got $5206.93 in employer matching money, and payed $31.54 in fees. You're telling me that's an L? Like, with a straight face, I want you to tell me that's an L.

It'll be a long-ass time before those fees start to overtake the employer matching portion, if ever. In the meantime, I get to use that employer matching to buy more shares, which in turn will earn interest, and make me more money over a very long time.

I wouldn't expect a company to manage my retirement for free, and if they told me they would, I wouldn't trust them.

Edit: To put it another way, my 401(k) had $57,603.12 in it at the start of 2012. Today (a little more than a year later) it has $91,342.87. The fees you speak of, were again $31.54. Explain to me in detail, the L I'm taking here, because I made more than that from the first dividend payout from just ONE of my investments.

 

[BlvdBrawler]

No really im straight. ...ill own this house in 10 years. Buy another @ 40 and be on my third @ 60. Real talk property is the way to go.

Real estate is dope. Buying a house at 60 though is , unless you're planning to buy it straight cash. That's actually probably what you meant. Carry on.

 

[Maddmike]

What if you're self-employed? How do you set this shyt up?

Yhere are individual 401k. I have no idea on how tho.

 

[Maddmike]

Real estate is dope. Buying a house at 60 though is , unless you're planning to buy it straight cash. That's actually probably what you meant. Carry on.

Na not really buying but having other properties can/will pay for my eventual dream house.

 

[BlvdBrawler]

Na not really buying but having other properties can/will pay for my eventual dream house.

My opinion (just throwing it out there) never sell any of your homes. That's a positive revenue stream throughout retirement. If you have 2 rental properties when you're 60 (even though you don't think you'll live that long) you'll be good breh.

 

[Maddmike]

Yea, there's fees. Over the life of my 401(k), there'll be a good amount of fees.

Last year, though, I got $5206.93 in employer matching money, and payed $31.54 in fees. You're telling me that's an L? Like, with a straight face, I want you to tell me that's an L.

It'll be a long-ass time before those fees start to overtake the employer matching portion, if ever. In the meantime, I get to use that employer matching to buy more shares, which in turn will earn interest, and make me more money over a very long time.

I wouldn't expect a company to manage my retirement for free, and if they told me they would, I wouldn't trust them.

Edit: To put it another way, my 401(k) had $57,603.12 in it at the start of 2012. Today (a little more than a year later) it has $91,342.87. The fees you speak of, were again $31.54. Explain to me in detail, the L I'm taking here, because I made more than that from the first dividend payout from just ONE of my investments.

There are fees not listed and when you get ready to draw your money it will come out as a lump sum. I used to have a annuity which I mentioned earlier. I took the money out and that was the worst mistake I ever did. Do some research on those. The rates of return was @ 9% guaranteed to never dip. But I started it before 911. Since then I have never seen a investment program wi th a rate close to that.

 

[Maddmike]

My opinion (just throwing it out there) never sell any of your homes. That's a positive revenue stream throughout retirement. If you have 2 rental properties when you're 60 (even though you don't think you'll live that long) you'll be good breh.

I know I wont...lol positive...bit ill still get this military check to the death, free medical also. Wifey also gone cake so we good.

 

[mson]

You shouldn't max out your 401k, just put in as much as the company can match. Create a savings account that won't be impacted by the market and put whatever you want to save in there.

 

[The Nigerian]

You shouldn't max out your 401k, just put in as much as the company can maych. Create a savings account that won't be impacted by the market and put whatever you want to save in there.

Doesn't exist.

 

[R.E.N. Spells Ren]

You shouldn't max out your 401k, just put in as much as the company can match. Create a savings account that won't be impacted by the market and put whatever you want to save in there.

Doesn't exist.

LOL, yes they do, you'll just be losing with those interest rates.