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Ok here is a question from a newbie about the union, stock investing, and the 401k...
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<blockquote data-quote="vin" data-source="post: 227727" data-attributes="member: 9475"><p><strong>Re: Ok here is a question from a newbie about the union, stock investing, and the 401</strong></p><p></p><p>There is no company match for hourly employees. I think the company match for management is 3%. You can contribute up to 25% of your pre-tax earnings into the 401k. Investing in the 401k plan is a great way to save for your retirement, although your investment options are somewhat limited. When you are just starting out, I would choose either the S&P 500, S&P 400, or Russell 200 index funds or a combination of them. Once your balance starts to grow a bit, you can open a Self Managed Account where your choices are much greater. In the SMA, you can invest in individual stocks, or any mutial fundyou would be able to invest in with a normal IRA or brokerage account.</p></blockquote><p></p>
[QUOTE="vin, post: 227727, member: 9475"] [b]Re: Ok here is a question from a newbie about the union, stock investing, and the 401[/b] There is no company match for hourly employees. I think the company match for management is 3%. You can contribute up to 25% of your pre-tax earnings into the 401k. Investing in the 401k plan is a great way to save for your retirement, although your investment options are somewhat limited. When you are just starting out, I would choose either the S&P 500, S&P 400, or Russell 200 index funds or a combination of them. Once your balance starts to grow a bit, you can open a Self Managed Account where your choices are much greater. In the SMA, you can invest in individual stocks, or any mutial fundyou would be able to invest in with a normal IRA or brokerage account. [/QUOTE]
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Ok here is a question from a newbie about the union, stock investing, and the 401k...
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