I need advice on 401K

[Erectionist]

Roth is after tax now, tax free later
Regular is Before tax now, taxes later.

Not exactly sure about option week, but I think it is where you can put your option week check totally into your 401k/roth

Which one would you recommend, regular or roth?

 

[upschuck]

Which one would you recommend, regular or roth?

With you wanting to put as much as you can in it, you should go Roth. Whatever you put in, you get tax free with a lot of time for it to grow.

If you want the bigger tax savings now, go with the regular.

 

[UpstateNYUPSer(Ret)]

Which one would you recommend, regular or roth?

DO YOUR OWN HOMEWORK!!!

 

[9.5 everyday]

To start, yes, then diversify into other the midcap 400 and Russell 2000. Mid cap is mid sized companies, and Russell is the small sized companies.

As long as you have direct deposit you can go online to upsers and start. I invest 50% of my total deduction in the s&p 500, 30% into a medium risk fund and 20% into a low risk fund. It's been averaging 12-13% return over the last 8 years. $$$

 

[UPSmechanicinblue]

With you wanting to put as much as you can in it, you should go Roth. Whatever you put in, you get tax free with a lot of time for it to grow.

If you want the bigger tax savings now, go with the regular.

I feel the Roth is the best option. Found this video that explains the 401K plan.

 

[upschuck]

I feel the Roth is the best option. Found this video that explains the 401K plan.

If you need the tax savings now, otherwise I agree.

 

[8" chub]

Are you new here? I like your name. You, me, @8" chub , and @SaladTosser should plan a get-together.

I'm game.

 

[plkl62]

Can anyone tell me if there is any minimum amount of money for doing self managed in the prudential 401k and coild I split it between doing self managed and doing professionally managed by Morningstar? Maybe i would do 50/50

 

[UpstateNYUPSer(Ret)]

From what I could see there is no minimum amount that you are required to have in the SMA but I would think anything less than $500 would be a waste of time.

 

[UPSmechanicinblue]

If you need the tax savings now, otherwise I agree.

not trying to argue or anything- but the tax thing now and what it will be in ten years from now doesnt look good- we will be the ones paying off the national deficit- tax rate will sky rocket-interest rates been 0% over 8 years now- they will rise-baby boomers will be retiring drawing money out of the market-market cannot continue without interest rates staying and zero and the quantitative easing when they where doing the pumping billions of $'s to prop up the market. Inflation still has not still caught up with all this. I do hope I am wrong on this.

 

[Ms.PacMan]

You are eligible to open an SMA if you have at least $7,500 in your Plan account. The minimum initial investment amount for the SMA is $2,500. (All subsequent transfers are a minimum of $1,000 and must be made in whole dollar amounts.) At least three percent of your total account balance must remain in your Plan’s core investment options at the time you transfer money into your SMA.

 

[Ms.PacMan]

401k and IRA contribution rates unchanged for 2016.

http://money.usnews.com/money/retir...401-k-s-and-iras-will-and-wont-change-in-2016

 

[UpstateNYUPSer(Ret)]

401k and IRA contribution rates unchanged for 2016.

http://money.usnews.com/money/retir...401-k-s-and-iras-will-and-wont-change-in-2016

Contribution rates and annual limits are not one in the same.

 

[Ms.PacMan]

Contribution rates and annual limits are not one in the same.

I wrote unchanged - the amount a person can contribute is the same as 2015 for both 401k and Ira.

 

[UpstateNYUPSer(Ret)]

I wrote unchanged - the amount a person can contribute is the same as 2015 for both 401k and Ira.

Contribution rates are the percentage you have taken out each week.

Contribution limits are set by the IRS.

TTKU

 

[Jackburton]

Thanks for the heads up.