I need advice on 401K
- Thread starter Damondogg
- Start date
iDontWorkAtUps
Well-Known Member
What is it ? if you know what it is
UpstateNYUPSer(Ret)
Well-Known Member
$18K in 2015 with a $5,500 "catch up" for those 50 and older.
Tough Guy
Well-Known Member
Do any of the funds offered in our 401k work "against" one another? In other words, if you're invested in one fund, is there another that could work contradictory to it? Like if one makes money, the other is likely losing money, etc.
I've tried to research some of these things, but frankly, a lot of it is just over my head.
The way my contributions are set up, I basically contribute to every fund that is available, spread out rather equally across the board. So most of the money is at 10% or so per fund. Some of the ones that clearly seem to have stronger returns, as best I can tell, i contribute the percentage a little higher toward.
I've tried to research some of these things, but frankly, a lot of it is just over my head.
The way my contributions are set up, I basically contribute to every fund that is available, spread out rather equally across the board. So most of the money is at 10% or so per fund. Some of the ones that clearly seem to have stronger returns, as best I can tell, i contribute the percentage a little higher toward.
UpstateNYUPSer(Ret)
Well-Known Member
You are spreading yourself way too thin. Choose no more than 5 funds to focus on.
UpstateNYUPSer(Ret)
Well-Known Member
You would be better off choosing one or the other.
Brownslave688
You want a toe? I can get you a toe.
Needs to be 10% at a minimum. 15% is good. 20% is what the goal should be.
Damondogg
Well-Known Member
I was just about to post that I increased to 10% Roth
You should pick a target date fund until you educate yourself.
Brownslave688
You want a toe? I can get you a toe.
It's been almost 6 months and the op doesn't seem to have even remotely tried to educate themselves.
They need to hire a financial advisor and quit wasting precious bandwidth.
Today's generation. Instant gratification please!
The most important thing is he starts investing asap!
oldngray
nowhere special
Hire a financial adviser? Or they could just stay in a Holiday Inn Express.
Just keep saving!
Someone like you could really stress how important a 401k is. Yell these youngster's that our pensions aren't what they used to be.
Take a little personal responsibility for your own future.
Brownslave688
You want a toe? I can get you a toe.
Yes when you don't the difference between Roth and regular and apparently are unable to use google.
It's time to pay someone.
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