I am not one to talk $$$$ figures on an internet forum, but when speaking with my financial advisor and seeing the dollar forcast for when I retire, it is pretty suprising how it can grow. I tell all the guys on our crews to put in early, even if it is alittle bit. There are not alot of companies that will match 4% in your 401K. I have been pretty lucky.
Except this last quarter, my 401K has took a huge hit (I am sure I am not the only one that has seen RED this quarter)
Amen to the comment about starting early because it does pay off. I've been putting in 6% of my own money and the company adds 3% to it for the twenty plus years I've been working and my 401k is now growing to the point where I make more money annually in my 401k than I do from my salary. We've got some good choices available to us and I have been able to average between 15 and 20% on my 401k.
I'll probably live better in retirement than I do now. I do hope that my persepective on that will change once I get my kids through college.
I put in 6% and the company gives me 10% more for a total of 16%. My company also has a pension but not sure if it will be around for me in 25 years. The wife and I also put $300/month in Roth IRA's. I constantly wrestle with the decision if I should put more in my Roths or put more in my kids 529 college plans..........
For all you young folk, START EARLY and DONT TOUCH IT
I put the maximum allowed in my 401k each year, and put as much as the fed will allow me into a roth each year. There are some years we are not eligible for roth's but the other years we max it out. My 401k is worth a LOT more than my roth's. IN fact other than my house, my 401k is #1 asset. It will prob be worth more than my house in a few more years.
They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety. - Benjamin Franklin 1775
I only look at the quartley statements. My secretary here stares at hers every day and frets over it. She wonders why she has an ulcer
That's why I don't hardly look at those anymore. You just get worried with all the ups and downs. You should look at everything once a year and assess how things are going. I always do it about this time of year after my taxes are done.
6% goes into my TSP account with the government matching my 6%. My TSP account doubled in the last year - that was very nice
I'm also investing in DRIPs for more supplemental retirement savings. Thinking about more in the near future.
Chuck Lidell: I paint my toenails with pink and black polish. Problem is, I get more paint on my toes and on the carpet than on my nails. Any advice? Maria Sharapova: Don't you beat up other guys for a living? I don't know how to answer this.
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