401k

bowhnterdon

Well-Known Member
Signed up as soon as they offered it,started in ‘86 or ‘87 I believe.The first few years we had to pay all fees associated with the plan
 

Justaloader

Well-Known Member
401k is generally a good idea. Just pray the stock market doesn't bottom out. It happened a few years ago and people lost a lot of money. Any investment is a gamble, and returns aren't guaranteed. That said, most studies and articles I've read show an average of 6% return or more over the long haul (20+ years) on a 401k. Of course that rate of return will vary depending on what funds you invest in. Another thing I suggest (mind you I'm not a finance expert) - is every year or so, look in on your investments and see how they are doing. If some of them are performing poorly, maybe consider moving those investments into different funds. I personally try not to go with a "set it and forget it" mentality, but to each their own.
 

MattM

Well-Known Member
I maxed out my 401k every year for the last 15 years I worked.
Current balance is over 1 million.
Up 23.87% this year.

Put every dollar you can in a 401k is my advice.
Has the max always been 35%? The personal performance viewer on Prudential is questionable. Change the window to last year and my 18% gains are actually negative. Long term, since I started, I think I’m up a total of 10%. So that viewer can be receiving

So say you make $125k and put back 35%. After 15 years, that's $656,250. Which investments are y'all selecting to see those types of gains? You doubled your money?

Since inception, not a lot of these different funds have growth as you're describing.
 
Has the max always been 35%? The personal performance viewer on Prudential is questionable. Change the window to last year and my 18% gains are actually negative. Long term, since I started, I think I’m up a total of 10%. So that viewer can be receiving

So say you make $125k and put back 35%. After 15 years, that's $656,250. Which investments are y'all selecting to see those types of gains? You doubled your money?

Since inception, not a lot of these different funds have growth as you're describing.
35% is the max but at that level of income it will put you over the IRS maximum amount that you can contribute per year
 
Top