401K

[Up In Smoke]

That's nice, but a million isn't what it used to be.

 

[Over70irregs]

Depends where they're invested.

Right now as we speak hard $ says those investments are getting weaker. The increase is watered down $. city

 

[DriverNerd]

That's nice, but a million isn't what it used to be.

The percentage of million dollar 401k's may have increased, but it's still a small percentage of total accounts.

 

[Over70irregs]

The percentage of million dollar 401k's may have increased, but it's still a small percentage of total accounts.

They released that on purpose. Buying power in 401k being down is not a great click. Get your energy stacked up. Some country in Africa is dusting you. Ethiopia To Become The First African Country To Start Bitcoin Mining

 

[Babagounj]

None of this will matter once the USA goes to the digital dollar.

 

[Over70irregs]

We are already digital. Paypal cashapp fednow applepay debit/credit cards, no cash accepted businesses. They are letting us down slowly.

 

[Commercial Inside Release]

If they won't accept legal tender (cash,) report them to the comptroller of the currency.

 

[Over70irregs]

Keep stacking that 401k…

 

[Wally]

Depends where they're invested.

What do you think of annunity investing as part of the portfolio?

 

[Up In Smoke]

What do you think of annunity investing as part of the portfolio?

With our pension guarantees, I'm not funding an annuity. Annuities are an insurance product and as such come with added costs and possible loss of initial investment if you fail to live beyond a forecasted date. They're popular with people who are looking for a defined monthly return for the remainder of their life at an attractive return on investment. If you fear that you will out live your savings, an annuity can calm those money fears.

 

[Up In Smoke]

My brother-in-law has a job with a company in the Steel Workers Union. About 3-4 years ago his company pitched the union and employees for a vote to remove the multi-employer pension and replace it with a company match 401K. The numbers were crunched and buyouts presented to each employee before the vote. The Union members voted for the 401K option and the employees were cut checks for the pension buyouts. My brother-in-law decided to take half of his buyout and roll it into the company 401K and the other half into an annuity. He was 45ish at the time and concerned with two kids under 10 that his future retirement savings wouldn't last. In his case, he was hedging against his ability to invest enough while still providing for his wife and children.

 

[Wally]

With our pension guarantees, I'm not funding an annuity. Annuities are an insurance product and as such come with added costs and possible loss of initial investment if you fail to live beyond a forecasted date. They're popular with people who are looking for a defined monthly return for the remainder of their life at an attractive return on investment. If you fear that you will out live your savings, an annuity can calm those money fears.

I was looking at a 7 year annuity as part of my IRA. Returns (up to 10%) are based on the market but you lose none of your initial investment. A rated. Some other B+ companies are offering 6.3% fixed too.

 

[ManInBrown]

My brother-in-law has a job with a company in the Steel Workers Union. About 3-4 years ago his company pitched the union and employees for a vote to remove the multi-employer pension and replace it with a company match 401K. The numbers were crunched and buyouts presented to each employee before the vote. The Union members voted for the 401K option and the employees were cut checks for the pension buyouts. My brother-in-law decided to take half of his buyout and roll it into the company 401K and the other half into an annuity. He was 45ish at the time and concerned with two kids under 10 that his future retirement savings wouldn't last. In his case, he was hedging against his ability to invest enough while still providing for his wife and children.

I’m not interested in a 401k match. i fund and will continue to fund my own 401k. I want that monthly pension check. I mean what would the match be? It would have to be something crazy to equal a $4500+ monthly check.

 

[Up In Smoke]

I was looking at a 7 year annuity as part of my IRA. Returns (up to 10%) are based on the market but you lose none of your initial investment. A rated. Some other B+ companies are offering 6.3% fixed too.

I'll save Gumby the effort. I Bonds are an superior product to either of those annuities. No fees and better tax structure.

 

[Wally]

I'll save Gumby the effort. I Bonds are an superior product to either of those annuities. No fees and better tax structure.

You cannot move larger amounts into them.

 

[IVE GOTTA PACKAGE 4U]

You cannot move larger amounts into them.

10,000 a year for you and $10,000 a year for your spouse

 

[Coldworld]

10,000 a year for you and $10,000 a year for your spouse

We going to hit 40k within the next month??

 

[IVE GOTTA PACKAGE 4U]

We going to hit 40k within the next month??

It's very possible

 

[fishtm2001]

so the 401k has moved from Prudential to Empower?

 

[IVE GOTTA PACKAGE 4U]

so the 401k has moved from Prudential to Empower?

Yes
www.empower.com