retirement funds

[Rogmok]

wasn't sure where to put this post..

those that have 401K's or IRA's.. i was wondering if you guys are still contributing to it...??

I had a 401K at my old job and when i quit i rolled it over to an IRA (wasn't that much lke 1500 bucks) that was about 8 months ago, and now its down to about 700 bucks.

My new co doesn't provide 401 until after my first year. And i was gonna just contribute to my IRA, but i realize that its just losing money anyway... so whats the point..?? so i haven't contributed anything to retirement since i quite my job like a year ago....

wondering what everyone else is doing out there??? still contributing?? in hopes that it'll get better??

[teaz0r]

are those names of forms? i dunno. i'm not amerikan

i do have a retirement fund already though. and three funds already started for my future kids.
there's not much in it right now, but i build it little by little. i dunno. i'm paranoid like that. just
want to make sure that whatever i can cover in the future be uh, covered. =) 12% interest a year.
pretty good. can't touch it for 25 years though =) so if i die anytime soon...that would be the sucks.
but then i have life insurance =) done before i was declared a smoker.

extra $$

[Rogmok]

12% interest? is this guaranteed 12% yield a year?? I can't imagine anything earning 12% in this economy..

if it is.. share!! because... sharing is caring :D

[teaz0r]

i don't live in the US =)

[nudel]

if the company doesn't contribute to your 401k then its not worth it. i only contribute to mine because i get a 2 to 1 match from the company. the reason why its not worth it is, usually the interest made plus the taxes on it later won't be worth as much. better to spend it now, because later it won't be worth as much. i do however recommend putting the max 2k into a roth ira. pay taxes now on the 2k but don't have to pay the taxes when its worth 200k. easy money. also since most people here are young, put it in high risk crap, like small business. could make a lot or loose a lot, but you have a long way to retirement.

[Rogmok]

Originally posted by pipSy@Feb 25 2003, 08:57 PM
i don't live in the US =)
oops.. hehe.. sorry.. missed that part in your first comment

[Napoleon Chynamite]

Retirement funds..? I'm still kinda worrying about funding my way thru the rest of school :cry:

[SunWuKong]

Originally posted by Rogmok@Feb 25 2003, 03:18 PM
wasn't sure where to put this post..

those that have 401K's or IRA's.. i was wondering if you guys are still contributing to it...??

I had a 401K at my old job and when i quit i rolled it over to an IRA (wasn't that much lke 1500 bucks) that was about 8 months ago, and now its down to about 700 bucks.

My new co doesn't provide 401 until after my first year. And i was gonna just contribute to my IRA, but i realize that its just losing money anyway... so whats the point..?? so i haven't contributed anything to retirement since i quite my job like a year ago....

wondering what everyone else is doing out there??? still contributing?? in hopes that it'll get better??
save the money and invest in real estate.

[ism]

Have an IRA... Roth... theoretically better at my age... but it's lost 12% in this economy. Right now I stopped contributing and stuck it in a money market.

[Rogmok]

Originally posted by SunWuKung@Feb 26 2003, 12:23 AM
Originally posted by Rogmok@Feb 25 2003, 03:18 PM
wasn't sure where to put this post..

those that have 401K's or IRA's.. i was wondering if you guys are still contributing to it...??  

I had a 401K at my old job and when i quit i rolled it over to an IRA (wasn't that much lke 1500 bucks) that was about 8 months ago, and now its down to about 700 bucks.  

My new co doesn't provide 401 until after my first year.   And i was gonna just contribute to my IRA, but i realize that its just losing money anyway... so whats the point..?? so i haven't contributed anything to retirement since i quite my job like a year ago....  

wondering what everyone else is doing out there??? still contributing?? in hopes that it'll get better??
save the money and invest in real estate.
werd :) i'm hoping to buy a place by sept!!

[lethal]

You can change the fund that you contribute to. If your 401 is losing money, see what the allocation is and shift it to a bond fund or money market fund short term. Those generally don't lose money. When the market starts looking up again, shift the money into a more agressive fund.

But definately put the max into a Roth if you can afford it. You contribute post-tax money, but if you withdraw the funds more than 5 years after a contribution, you aren't taxed on the gain.

Something like that...I'm not a financial advisor, so take my advice for what its worth (nothing). :lol:

[nudel]

Originally posted by ism@Feb 25 2003, 04:26 PM
Have an IRA... Roth... theoretically better at my age... but it's lost 12% in this economy.  Right now I stopped contributing and stuck it in a money market.
i've had my roth going since it was firt introduced. yeah, mine has lost about 75% so far but with the money i'm putting in, i'm buying gobs and gobs of shares. i'm young, it'll go back up, and i'll be sitting with a fat mattress. realestate is good too. i've had a condo just north of chicago for about 2 years now, i'm selling it next year at a 30k mark up. there are two approaches you can take. take your chances and risk it all or be cautious and have to live thriftly for the rest of your life, you may end up with a lot, but at a cost of not having fun, and plus it'll be hard to move from the thrift mode to the spend mode when your old.