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UPS/TEAMSTERS 401K any good?
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<blockquote data-quote="Bubblehead" data-source="post: 614975" data-attributes="member: 14176"><p>Plain and simple the 401k plan is bar none your best and first line of retirement planning IMHO.</p><p>The tax break hard to beat.</p><p>There are many strategies as to how to invest.</p><p>I'm presently playing heavily in the S&P's which have been less than kind in the past few years.</p><p>I subscribe to the theory of peaks and valleys and the fact that they have historically always realized growth over an extended period of time.</p><p>The key to this strategy is the fact I have at least 16 years till I can start drawing out funds without penalty.</p><p>By maintaining my position in these funds, although they have lost in recent months, I buy in low now and will realize a bigger profit when the market rebounds by buying more shares at a lower price.</p><p>Once again I have 16 years to see this happen.</p><p>The popular view is to scale back on this somewhat aggressive position to more conservative investments the closer you get to retirement age.</p><p>Obviously savvy investors are able to ride the waves and shift back and forth.</p><p>As a truck driver, without a solid intuition as to market trends, I find this to be a reasonable "gamble" without being ultraconservative.</p><p>Time will tell, as I will be looking for one of those "peaks", hopefully within the next 10 years, so I can start to back into more conservative investments.</p><p>I'm guessing you will get a myriad of different views points from the members of this site.</p><p>Dont hesitate to seek the advise of an expert you trust.</p><p>I guarantee whoever you ask will not deny that the single biggest factor in the equation is time.</p><p>So don't delay, get started <strong><u>NOW!!!</u></strong></p></blockquote><p></p>
[QUOTE="Bubblehead, post: 614975, member: 14176"] Plain and simple the 401k plan is bar none your best and first line of retirement planning IMHO. The tax break hard to beat. There are many strategies as to how to invest. I'm presently playing heavily in the S&P's which have been less than kind in the past few years. I subscribe to the theory of peaks and valleys and the fact that they have historically always realized growth over an extended period of time. The key to this strategy is the fact I have at least 16 years till I can start drawing out funds without penalty. By maintaining my position in these funds, although they have lost in recent months, I buy in low now and will realize a bigger profit when the market rebounds by buying more shares at a lower price. Once again I have 16 years to see this happen. The popular view is to scale back on this somewhat aggressive position to more conservative investments the closer you get to retirement age. Obviously savvy investors are able to ride the waves and shift back and forth. As a truck driver, without a solid intuition as to market trends, I find this to be a reasonable "gamble" without being ultraconservative. Time will tell, as I will be looking for one of those "peaks", hopefully within the next 10 years, so I can start to back into more conservative investments. I'm guessing you will get a myriad of different views points from the members of this site. Dont hesitate to seek the advise of an expert you trust. I guarantee whoever you ask will not deny that the single biggest factor in the equation is time. So don't delay, get started [B][U]NOW!!![/U][/B] [/QUOTE]
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