UnThreaded | Threaded | Whole Thread (11) | Ignore Thread Prev | Next
Author: jtsheldon Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75772  
Subject: Why Bother? Date: 9/24/2001 4:41 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
There is so much hype about 401K but being young (under 40) however I must ask why bother on the 401K?

In today's rules if your 401K is under xxx amount of dollars and you have left the company you have 90 days (and sometimes less) to roll it forward.

In my case, I had $3000.00 invested into my account (not including the matching) I filled out the paper work to roll it to an IRA (hounded is more like it) and then by the time they come around to cutting the check I have lost $1000.00.

Now explain to me how losing money I will not be able to recover since I was forced out of the plan makes the 401K plan SO beneficial???

Like many others, we do not stay at our companies for more than 5 years. This risk along with market fluctuations seems to loss more than it gains from money taking out of my salary pre-tax dollars.

JTS
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (11) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
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:
Deranged Monkey Criticism

RadioShack Afloat on a Sea of Financing
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