Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: not2old4that Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 25214  
Subject: Update to the Date: 3/6/1999 6:26 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Allow me to start by saying thank you to all of those who took the time to respond. I truly do appreciate it. Each response was unique and gave me something to consider, which is exactly what I was hoping for.

It seems as though I was not as clear as I should have been, however. When I said my employer matching was 3%, I was mistaken. After reviewing the ol' proverbial employee handbook, it is not 3%, it's 2%. Translated, that means that for every $1 I contribute to my 401(k), I get 2 cents. $100 contributed = $2 employer matching. (For those of you wondering: Yes, they are hiring). I'm thinking that this isn't that good of a deal, especially with all the restrictions imposed. The course of action I am thinking of now is keeping the minimum contribution required, and then taking the difference and investing it on my own. In addition, I am also thinking of claiming the max deductions allowable after determining what my real taxable rate would be and investing the difference as well in more secure areas. When taxes are due, pay it out of that more secure account. Why let the gov't. use my money to make money for free when I can make a little on it myself? Even if I have to pay tax on the profit - it is still a profit, and more than if I were to get a refund at the end of the tax year, yes?

Questions? Comments? Remarks?
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

2013 Feste Award Voting Begins!
Who will win the 2013 Feste Award? Vote now for the Fool that most exemplifies the Fool Community mission of Learning Together!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Tax Strategies

TMFPMarti-Feeling Good
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement