The Motley Fool Discussion Boards

Previous Page

Financial Planning / Foolish 401(k)s


Subject:  401k - Shocked & Surprised Ninny Date:  8/15/2001  12:40 PM
Author:  AcornNut Number:  12928 of 26116

I hope you don't get too much of a laugh out of this. . .
(Well, I am, but just from the shock of my lack of information about 401k.)
There,I think is about 37,000 in my plan right now. I am just now, at 40 (!!!), realizing I was able to, and should have, maybe used this money to create interest even if it was just in CDs. Am I right at understanding this? You mean I could be (and should have in the past) been doing this with a portion of this money? I thought they took care of themselves more less like a savings account.
I honestly have just allowed that money to be taken out of my check and never thought I was to do anything but let it sit and "Don't Touch". I have been reading about this (only about a week now), and if I understand correctly, I could be applying money towards a CD, for example, and gaining 4 something percent interest! I can only use CD for example because all them other things they were talking about were way over this girls head. Well, I guess you have figured that out already - but nobody told me! If this is all true, it scares me to think of the money I have failed to gain.

Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us