my company has greatly reduced the match, to mabey 1%.

i don't know squat about this ****. what's the best move i can make? roll it into something else, or leave it alone?

how do you roll?...........

I don't even open my investment mailers any more. Two years ago, I felt stupid for not being able to put anything into it. Last I checked, about half of what I had put it was gone.

Now I feel much smarter just spending all of my money on cigars. At least I know I'll enjoy it that way.

Make sure you meet the company macth has a minimum. 100% match through 1% is horseshirt, but you gotta take what the man will give you.

Invest the rest in Cuban cigars and in the stock market. Companies like Skippy, JIF and Peter Pan are going through the roof.

After that, silver and shotgun shells.

Damned if I know. My bookie handles all my investments.

Youz wants I should hook you up wit Frankie?

Put in your 1% to get the 1% free money.

Usually a company will put in a certain percentage of what you put in, up to x%. For example, my company would put in 100% of the first $500 and then 50% of each $ after that up to 3% of my total salary. This to force people to save more to get the full match.

While the match is free money, it is small potatoes as compared to what you can and should put in. Save as much as you can afford - it lowers your taxable income, and works towards your eventual retirement. Key is to pay attention as to what stocks or mutual funds your money is going into. The match itself usually goes into something safe like a bond fund.

c3s

look into a Roth IRA.. usually cant just "roll" a 401K

into something else without a stiff penalty or a personal hardship... I dont think being low on cigars

will meet criteria.. ask someone who knows.. I really dont know she'at about 401's except I lost an a#% load of money in them the last couple years..

cayman

Saving for retirement is fine, but many/most company 401k fund options aren't as good as the what you can invest outside of the company.

Consider a Roth IRA. It grows tax free, unlike the 401k.

Diversification (cigars, whiskey, and ammo) is also smart.

"... I dont think being low on cigars

will meet criteria.."

dammit! fuggin government............

Well, look at it this way: a lousy 1% is better than 0%.

Rollovers to IRAs and retirement funds are not taxed, but you will need to talk to a broker to find a good fund. Then again, if your broker is wrong, you can lose money as opposed to making it. And if you have a crappy broker, you'll be just as good at picking your various funds as he will.

I've rolled over several 401Ks from previous jobs without much of a problem...outside of the economy going into the crapper.

So, again: 1% is better than 0%.

The wife and I each have a Roth IRA, and we contribute money outside of any employment-based 401K.

That being said, you may pay taxes going into it with the promise of not being taxed on withdrawl, but given the money-hungry nature of our present government, I'm not betting that this promise will be kept when it is time for me to retire.

In fact, stuffing gold coins under my mattress is beginning to look like a valid retirement strategy.

Caveat Emptor.

Show what you know, Potts.

Only the government knows what's good for us. We should sit quietly and wait for the government to tell us what to do.

I just sold gold at a 400 % profit

12. Author: 8trackdisco Date: 12/15/2009 10:40 PM Reply

Show what you know, Potts.

Only the government knows what’s good for us. We should sit quietly and wait for the government to tell us what to do.

----------------------------------------------------------------------------------------

Yes, I forgot that little factoid.

I'll report myself to the nearest re-education camp in the morning. That'll make the HockeyDad glad.

I suspect that Congress will start means testing withdrawls on my Roth IRA with Stimulus III.

#13

You bought at the 20 year low in 1998 and sold at the all time high in 2009?

Congrats!

I don't know how old you are and how close you are to retirement. That being said, you will generally be better putting as much as allowable into retirement funds. You should put what is necessary to get the 1% match into your 401K. You then have a decision to make, are you better off deferring the taxes on current income by putting your money into the 401K (or traditional IRA) or are you better off putting away "after tax" dollars into a Roth IRA and being able to draw that money (and the gains) tax free when you retire. Your age, tax bracket now, expected tax situation in retirement should be part of the decision. Any financial planners in the house??????

Personally, I put the maximum into my 401K, some matched, some unmatched.

B

One more thing, It is your responsibility to watch and change your allocation of investments in the 401K. Most plans these days have a great variety of investment options from Money Market funds to very aggressive stock funds. The risk is yours, so it is up to you to manage it.

B

Buy gold on dips.

Obama and Geithner et al can't "print" more of it.

blackfoot11

http://money.cnn.com/retirement/ 

Educate yourself, before it is too late.

To answer your question: as long as you are working for the company, don't rollover your account. Contribute as much as you can. Your company will match your contribution up to 1%. So, if you don't contribute or you contribute less than 1%, you are giving away free money.

To retire comfortably, one should at lease contribute approximately 6% of annual income for about 30 years. This is a very rough guidance. Circumstances like rate or return, level of income, and personal goals play major roles.