retirement
- Thread starter ruffryder
- Start date
buy low, sell high. we may never again in our lifetime be able to buy stocks on sale, like we can now. Investing is always a risk. But i haven't changed the amount i am putting into my 401k monthly. I will never again be able to buy shares this low. The market will come back. just look at the historical trend over the last 100 years. but you do have to ask yourself, are in for the long haul or the short haul? and that will dictate your amount of risk.
tim
tim
Which is how much? What percentage?
Historical trends might be one thing, but I think there is a disconnect between the value of the stock and the price. You would be a perfect example of this. You are only buying because it should increase in price, not because the companies your are investing are good companies.
mutual funds
if i told you how much i put in someone with no clue would start yelling i am rich or stupid or something like that. I am an employer with a safe harbor
401k. I am allowed to put up to $14,000 a year into my 401k with out any issues. I will say that 401k's can be a biiitch to manage on my side.
My beliefs in the market might be a little different than most. I actually believe the country has seen what is going on before and we came out pretty good. I do believe in about 2 years we will be out of this. But it will probably last another couple of years. Which means the market is on sale.
if i told you how much i put in someone with no clue would start yelling i am rich or stupid or something like that. I am an employer with a safe harbor
401k. I am allowed to put up to $14,000 a year into my 401k with out any issues. I will say that 401k's can be a biiitch to manage on my side.
My beliefs in the market might be a little different than most. I actually believe the country has seen what is going on before and we came out pretty good. I do believe in about 2 years we will be out of this. But it will probably last another couple of years. Which means the market is on sale.
It seems lately that the company itself has little to do with the value of the stock. Something happens in Greece that has little or nothing to do with company "X" and their stock plummets....or someone in DC says something about home values and stock "Z" skyrockets. The market seems so volatile for no apparent reason.
If I had money to burn I would stockpile some Ford, BP and Boeing while they're in the gutter.....many others but those are names that are here to stay.
I am not limiting myself to 401k for retirement. With that said i started the process when i was in high school. I come from a long line of savers.
a business and the land it sits on might be part of the package for my golden years.
a business and the land it sits on might be part of the package for my golden years.
he golden years??? Urine samples? HaHaHa
I don't know ruffy. the dow was around 14,000 dropped to around 7,000 and has been slowly going back up. My guess is that the dow in20 years, when i retire will be around 25,000. seems on sale to me.
I look at it the same way as TIM. If history repeats, the people that are in their 30's-40's are in the perfect position to dump as much as they can into stocks/mutual funds now. Everything is "on sale" right now. You need to ignore your statements telling you how much you lost and don't panic or sell out.
If you don't believe history will repeat itself then do want you want. Just remember that we will eventually have a different president.
If you don't believe history will repeat itself then do want you want. Just remember that we will eventually have a different president.
If you are not at least contributing to your 401k to the extent that your employer is matching you are missing the boat. That is one investment you MUST make. It WILL go up and down but like stocks you have not lost antyhing until you sell and cash out. Make this contribution and don't look at it...
True, but you can only contribute to a Roth if your income is a certain level....not sure what 110K? And you can contribute only so much per year. This is another no brainer investment if you are allowed to contribute and yes you should max it if you can.
My employer just gives 3% with no matching.
IMO, I think the stock market is completely bs. Stocks prices no longer reflect a company and how the company is doing, rather the price reflects the assumed future growth of that stock.
whats it like to be rich?
After reading this I can tell you it will be great.
I have a plan for us. This is what I learned from these Boneheads.
Take as much of your paycheck and invest in a 401k. Rather then a raise now from your employer he may match it. All pre-tax dollars. Put it in an account that you could lose your a$$ on to some fat head back east. If you do make it to the retirement day, say 10 yrs from now, then this is what you get.
Taxes go up, not down, so the dollar will be worth say roughly $0.60 after taxes.
Inflation increased 4%/year so now you have $0.24/dollar. What makes it nice is with this money on paper we can now barrow paper money against it and pay interest to offset the interest we might make.
The dollar 10 yrs from now put down on a new sled will be worth $0.24 and the sled will cost 40% more. Gee I wonder why the government is willing to forgo tax money today and collect it later. Must be a good idea. Makes me feel rich just thinking about it.
Easy as 123. Let’s get rich.
You do not have to make a certain amount of money to contribute to a Roth IRA. Ask any financial institution, if you have money to put into one, they'll take it from you. Yes, you can only contribute so much a year, just like a 401k, but am not sure how much it is.
I know lots of people that were investing long before me in funds and retirement accounts that the value of there accounts went down drastically. Now there close to needing that money Wonder how long they will need to wait to get it back? Lot's of people want to go off of history, well that changes all the time. Though i'm hopefull i do not beleive that history is always the future.
If your single it looks like the max is $5000/yr, and $6000/yr if married and file jointly. The income restriction is if you make too much...if your single and make more than $105,000, your contributions are phased out on a percentage basis until $120,000 at which point you cannot contribute anymore. Married and filing jointly your contributions are phased out over $167,000 and you cannot contribute at income over $177,000. This is all based off of age <50yr. It increases as little at age over 50.
Perhaps I should have stated it another way, if you make MORE than a 120K per year you can't contribute to a ROTH IRA.
http://www.moneychimp.com/articles/rothira/contribution_limits.htm
http://www.moneychimp.com/articles/rothira/contribution_limits.htm
