Do you change your % depending on how the markets doing or keep it the same?
Do you change your % depending on how the markets doing or keep it the same?
I think the best answer for a 25 year old verses a 58 year would would be different. I think the best answer should be based on your individual specific situation.
nah im just curious i know everyones situation is different.. was just wondering do some move the % up and down with how the markets doing.. I set mine back when i was 20years old and never messed with it until a few years ago, raised it up a little.. Wish i would of done more thoughOriginally Posted by JR19
Max it out every year and try not to pay attention to the fluctuations. That has worked the best for me.
Put in as much as you can. When markets are down you're buying more with your money.
Do you mean % of income invested, or percent of risk in your portfolio? I personally have done both.
Azure AZ200 (with stuff like cupholders, bathroom and table)
Yes, sell high and buy low, I move money around 2 or 3 times a year between funds and still leave a base amount in a couple of different funds.
Contribution amount stays the same, maximize company matching.
the percent per paycheck you put in.. not even sure what our max is.. i
I liked to play around with my allocations a little. I was usually 90% stocks and 10% income type funds. But if I thought the market was high, I might go to an 80/20 split in favor of stocks. If the market tanked, I'd go 100% into stocks. I always had a long term view. It worked for me as part of my retirement strategy.
Do not change based on market - Can't time the market!
Max is a dollar amount dictated by the IRS and is adjusted annually.
401(k) limit increases to $23,000 for 2024, IRA limit rises to $7,000 | Internal Revenue Service (irs.gov)
If you are 50 you can also start with catch-up contributions.
401k Plan Catch up Contribution Eligibility | Internal Revenue Service (irs.gov)
Max contribution this year under 50 (I think) is $23K.
The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2024 has increased to $23,000, up from $22,500 for 2023.
That is called dollar cost averaging. Do a search on it, very common investment strategy.
Same percentage contributed every week into the fund that follows the blue chips. Highest fees of any of the funds but offset by better returns.
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Yeah im 37 and admit i havent been the smartest with my money.. I was able to put around 30k into house down payment and did pay my truck off very early.. but now with a wife and 2 kids in daycare .. am fortunate i can afford the daycare.. Ive never really understood the retirement plans the best just had my 401k and now have started to wonder more about the roth/ira.. Really wish I would of got into stock when i had some more money to play with..
Always and for how long? You should be retiring soon!
Greg
Edgewater 245CC
Financial advisors will tell you to take a disciplined approach and invest the same amount every month. Not even the experts can outguess what the market does over time.
I keep the same percentage no matter what the market is. When the market is down you are buying more shares. Every other year I increase my investment percentage 1%. The name of the game is share accumulation.
Yes but 2-sides to every pancake. Not going into FA/CFP space, but the OP needs to really study all angles. Be careful about Blue Sky investing strategies.
Greg
Edgewater 245CC
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