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401K help
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 296667" data-attributes="member: 12570"><p>Big Poppy, if you don't feel comfortable choosing which fund(s) to invest him , how much to invest, etc., the 401k plan has 4 funds, called the Bright Horizon Funds, which are tailored specifically to target your approx. retirement date. The Funds have four dates (2015, 2025, 2035, 2045) and you simply choose the date that most closely targets your projected retirement date and invest as much as you can in it and then don't touch it. The nice thing is that whatever you have had withheld and invested in your 401k comes right off of your gross pay for tax purposes. I would suggest that you find an older co-worker whom you feel comfortable talking about this with and he/she can help walk you through it. Investing does take some patience and the ability to withstand what can be big swings (mine went down over $5K just in the past 2 weeks) but is essential if you want to enjoy your retirement, as Social Security may or may not be there when you retire.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 296667, member: 12570"] Big Poppy, if you don't feel comfortable choosing which fund(s) to invest him , how much to invest, etc., the 401k plan has 4 funds, called the Bright Horizon Funds, which are tailored specifically to target your approx. retirement date. The Funds have four dates (2015, 2025, 2035, 2045) and you simply choose the date that most closely targets your projected retirement date and invest as much as you can in it and then don't touch it. The nice thing is that whatever you have had withheld and invested in your 401k comes right off of your gross pay for tax purposes. I would suggest that you find an older co-worker whom you feel comfortable talking about this with and he/she can help walk you through it. Investing does take some patience and the ability to withstand what can be big swings (mine went down over $5K just in the past 2 weeks) but is essential if you want to enjoy your retirement, as Social Security may or may not be there when you retire. [/QUOTE]
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