Did you splurge on anything

[box_beeyotch]

No, I put 10% in to my 401k.

Try to keep up.

Just out of curiosity, does this affect you at all at tax time?

 

[Insaneasylum]

I got my first brand new vehicle shortly after I got seniority. I got a 1987 Dodge Dakota that had a little 4 banger, a stick and an ashtray. Put in my own radio and it had 2-50 air conditioning. It was stripped down but it was new and it was mine.

Well at least some one answered the question

 

[IVE GOTTA PACKAGE 4U]

I got my first brand new vehicle shortly after I got seniority. I got a 1987 Dodge Dakota that had a little 4 banger, a stick and an ashtray. Put in my own radio and it had 2-50 air conditioning. It was stripped down but it was new and it was mine.

Nice feeling. My first new one was an 85/ford ranger. $7k. Only options was sliding rear window,step bumper and a guage package. Only had an A.M. radio.lol

 

[Browndriver5]

Just out of curiosity, does this affect you at all at tax time?

There are two types of 401ks. Roth and regular 401ks. You are taxed on Roth 401ks as you put the money in and are not taxed once you withdraw. Regular 401ks you're not taxed with you contribute but then are taxed when you withdraws. If you set up either let's say you make 1000000 and put 10000 into 401k your income shows 900000

 

[IVE GOTTA PACKAGE 4U]

There are two types of 401ks. Roth and regular 401ks. You are taxed on Roth 401ks as you put the money in and are not taxed once you withdraw. Regular 401ks you're not taxed with you contribute but then are taxed when you withdraws. If you set up either let's say you make 1000000 and put 10000 into 401k your income shows 900000

He was talking about changing the w4.

 

[Browndriver5]

He was talking about changing the w4.

Oh okay

 

[box_beeyotch]

There are two types of 401ks. Roth and regular 401ks. You are taxed on Roth 401ks as you put the money in and are not taxed once you withdraw. Regular 401ks you're not taxed with you contribute but then are taxed when you withdraws. If you set up either let's say you make 1000000 and put 10000 into 401k your income shows 900000

I know all about it. Opened one almost immediately after starting. I was talking about changing the w4 for vacation checks.

 

[brownmonster]

I know all about it. Opened one almost immediately after starting. I was talking about changing the w4 for vacation checks.

All comes out at the end of the year. Seems like over thinking to me.

 

[UpstateNYUPSer(Ret)]

Just out of curiosity, does this affect you at all at tax time?

Taking $10K off of my gross doesn't hurt.

 

[box_beeyotch]

Taking $10K off of my gross doesn't hurt.

Yeah that helps but I meant changing your w4 to 9.

 

[Jones]

I put 100$ a week into ups 401k and 450 a month into a Roth ira. I think I know what I'm doing

Depending on who you have that Roth IRA with, you might be better off putting that money into the Roth 401k

 

[Browndriver5]

Depending on who you have that Roth IRA with, you might be better off putting that money into the Roth 401k

Yes I have thought about it. It's a local place called core financial. I always watch American greed and start to think to switch it over

 

[Wizzy]

As an old guy waiting to listen to the Central States call to see if I have to work til I die because I thought the present was more important than the future, max out your 401k. Easy way to bank for retirement and this is not a job you want to be doing in your sixties.

 

[Jones]

Yes I have thought about it. It's a local place called core financial. I always watch American greed and start to think to switch it over

I'm thinking about the fees. The expense ratios for the funds in our 401k are way below the industry standards. If you're investing in sector funds or individual stocks that the plan doesn't offer that's one thing but if you're mainly investing in index funds I can pretty much guarantee that you'll do better in the 401k.

 

[wayfair]

Sooooooo, back on topic..

I splurged when I got divorced, it happened to be when I went full time!!!

 

[brownmonster]

As an old guy waiting to listen to the Central States call to see if I have to work til I die because I thought the present was more important than the future, max out your 401k. Easy way to bank for retirement and this is not a job you want to be doing in your sixties.

Wisdom.

 

[selfcancelsignal]

I plan on paying down debt & if we're in the same house, perhaps remodeling... So not really paying down debt.

 

[IVE GOTTA PACKAGE 4U]

Wisdom.

Brown Monster like?

 

[Re-Raise]

,

How? You said you made 74000 last year? That would be 7 percent

Sorry kid. You can't be my financial advisor unless you know that in order to arrive at 10k he would have to put in 13.5%, not 7%.

 

[scratch]

I bought a new '84 chevy pickup for my new wife, neither one turned out as I expected.

 

[Catatonic]

You cannot put a set monetary amount in to a 401k so apparently you don't know as much as you think you do.

You can do a RothIRA outside of the 401k as long as you do not exceed the maximum combined.