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After reading a few things on the debate for today is my understanding people out there are just not educated enough on the opportunities out there. And it’s hard to know when you are not educated enough to understand what you are able to do.


Hell I am still learning and I work for an investment firm. To this day I am still pissed off about my 401k information lacking at my job at NAI. Hell if I knew what I knew now I would have more in my retirement by now. Damn the man.. Oh well I am making up for it now.


Any ways:  

Just a few things to know about


  • If you have a 401k find out what the match is and try to meet that [It’s Free money!]
  • Find out what investments you might have at this time.
  • No 401k, 403b or sponsored account. Got for a Roth IRA
  • Saving for kiddoes College? 529 plans is the way to go [Check it out here]
  • Did you know it lowers your tax bracket for the year and you pay less taxes if you defer into a 401k?  Now you do..



( 5 comments — Leave a comment )
Mar. 26th, 2004 12:21 pm (UTC)
The maintenance guy at work has been nagging me for years to sign up for our retirement plan and I haven't done it just because it annoys me that he'll think he won if I sign up. But now I can sign up and say I did it for you! The company puts 50 cents in for every dollar I put in, and I can put in (I think) up to 6 or 7% of my annual salary.

It's a 403b where I work. The non-profit organization thingy.
Mar. 26th, 2004 12:24 pm (UTC)
Go for it!!! Cosmic You will have enough to retire and take of Drew.. :: giggles::
Mar. 26th, 2004 11:10 pm (UTC)
Take of Drew? You make it sound like I'm going to sip her like wine. hehehe

I know what you're trying to say, it's just a funny typo that really gives me dirty thoughts.
Mar. 26th, 2004 01:17 pm (UTC)
[looks at Drew comment.... ] Oh dear...

Cool!! Thanks for the info Phoenix!! ^_^ I'll have to go and check out your link about the colledge funds!

Mar. 26th, 2004 03:55 pm (UTC)
check times 4.

Investing my 401k to the company's matching (50% up to 5%)

Mostly in stock funds, including a couple of very nice mid-cap funds, the value fund of which has done quite well since I've got in it about a year ago.

Got April in the IRA, traditional to reduce our tax bracket. Will switch it to a Roth in the next few years. Shouldn't be too bad of a tax hit.

No kids

Yup, lower tax bracket.

Also, if your AGI is less than a certain ammount, you get a tax credit up to 50% of the ammount invested for retirement. Unfortunately, if you're anywhere over indigent, it's not the full 50%. Mine was 10% last year and I'm hopping happy about it.

What's the difference between a tax credit an a tax deduction? A tax deduction is income you don't have to pay taxes on, depending on your bracket worth 10-35% of the face ammount. A tax credit is just that, that ammount of tax is paid for you. Money in your pocket.

Thanks for a great topic today :)

( 5 comments — Leave a comment )