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Financial Planning / Foolish 401(k)s


Subject:  Re: 401k vs. personal investment Date:  1/7/2013  1:44 AM
Author:  MikeMiser Number:  24993 of 26127

You received some excellent replies to your post. Just wanted to add one more thought. I know of very few people who build a 30 year plan and have things work out that way for all 30 years.
You might change jobs in 30 years. You may do that multiple times. You may have corporate mergers or buyouts that change your 401K.

I had 2 such events. I am on my 3rd 401K. All had matches. Present one has Roth option also.

The first 2 401K's were rolled over to IRA's. One was then rolled over to a Roth. I also have fully funded Roth's outside of these that are fully funded for myself and wife.

The point is that when I started working 40 years ago I was working for a Fortune 500 with a pension and no plans for 401K's or Roths.

Laws change, Needs change. Build your plan, Invest in it. Do a re-assesment every 5 years, to be sure you are still happy with the plan.

I am now on the other side thinking about how to make my money work for me during retirement.
Where do I draw money, where do I invest for Capitol Appreciation?
I have a pension and SS. I also have a 401K, an IRA Conversion, and 3 Roth accounts.

As an aside I also have an HSA (Health Savings Account) If I had one thing I would have changed it would have been to start the HSA much sooner.
If you are young and healthy, consider a High Deductable Health plan at work with an HSA account.

My original plan was Pension and SS.

You sound like you did all your homework and have an excellent plan. Just don't lock it in and forget.

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