Understand if you don't want to Share but what % have you started, moved back and forth with and now?Originally Posted by RoadrashPaul
Not soon enough. Only been able to do that for the last 6-8 years but already seeing the upside
Understand if you don't want to Share but what % have you started, moved back and forth with and now?Not soon enough. Only been able to do that for the last 6-8 years but already seeing the upside
the irs cap is $23k, so there is a cap.
Very similar situation. Was told go all in (it's on sale, if you will) Looked like crap but it always comes around. It's the long game and patience not to get too high or too low.
Scott
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ALWAYS Max out what your employer matches,, NO exceptions. Then put in as much as you can stand above that.
Not totally sure I understand your question but to keep my answer simple I would put in as much as you can possibly afford. If your employer matches a percentage then that would be my baseline minimum and go up from there. You are playing chess here not checkers. You have to go in with the mindset of the long game. I don’t move any around and I don’t take any out to do other things with it. If I have extra money to invest beyond my 401k contributions then I look into money markets or CD’s but the 401k is always first.
Someone said you must be otw to retiring which was a response of you sound to be doing great.. you said not soon enough but last 6-8 years you're doing great.. so howd you start or did the same start later and put large amounts in?
put in the max irs allows - its a huge tax deduction now and a tax deferral for later.
Something else to think about is cash today. If your 401k is doing really well at some point you could consider throttling it back and still investing that money into a brokerage account so you have free access to it, especially if you might want to retire early. A 401k is a great plan, but a roth IRA should also be considered as the gains are tax free and a brokerage account should be considered for liquid cash if you might need it ahead of the retirement age requirements.
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OK gotcha now. I have been in sales for the last 15-20 years so my income has fluctuated a lot during those times. When I wasn't able to do the max contribution I would just put in as much as I could afford. I honestly never thought much about it as a percentage. If I had a good month and got a good bonus then I would put a decent chunk in my 401K. My not soon enough comment was about being close to retiring. I will be 40 in May of this year. There is no magic number/percentage/scenario. Just do as much as you can afford. I will say I live my life a lot different than most of America. I have never had a vehicle payment and I don't owe on anything but my house. I have always been frugal, able to save money and live below my means. That makes it easy to invest in retirement.
At 37 no doubt put all you can afford into it. It always goes back up. Check your choice investments in your plan, and there should be some in the 20% growth over 5 years. I'd go with that if i were you. Most of mine are still in it with about 4 or 5 years to go.
Put in at least enough to get the maximum match from your employer; unless you don't like getting free money.
Roll with the same % contribution for dollar cost averaging, whatever you can afford without starving yourself.
Roll with an Age-Based fund designed with risk tolerance based on age if available. If not google asset allocation by age and use that as a guide.
Contribute to both pre-tax fund, and Roth after tax fund to have withdrawal flexibility options to control reported income at retirement.
If you're teetering above a higher income tax bracket, increasing the pretax contribution could lower your tax on that contribution portion by 10%.
For about 30 years, my wife and I have contributed heavily to 401k’s and/or 457’s. The growth has been astounding. We’re both in our late 50’s and can easily and very comfortably retire if we wish. Contribute at least 15% of your pretax in to a fund with good growth stocks and walk away. You will be rewarded.
If your employer has a matching 401K program and you aren't taking advantage of it, that's crazy. It's like saying, "Yes, please, I'd like a pay cut."
The younger you are, the more important to choose Roth. I understood the difference but I chose wrong and put more into the IRA. I regret that decision now but Uncle Sam is making out better
Some people are so judgemental. You can tell just by looking at 'em.--Some random meme
If you are talking about how much of your salary you are investing the best answer is as much as you can. However, in the spirit of the question it is always best to buy when the market it low.
"the liberties of the American people were dependent upon the ballot-box, the jury-box, and the cartridge-box; that without these no class of people could live and flourish in this country..."
I agree other than the rest put in an IRA. Not tax free, pay the taxes now, and have two income options!
Read a Random Walk down Wall street. Make sure to invest enough to take advantage of your company max, increase with each raise until you max out the maximum contribution of your age. Read this book 25 years ago and changed investment to a SP500 index fund and have left it alone. It's done pretty decent over the years. Premise of the book is 8-10% of all mutual funds will out perform the SP&500 but it's never the same 8-10% of mutual funds. Over the years the SP&500 typically doubles inflation and the SP500 is already diversified.
/www.amazon.com/Random-Walk-Down-Wall-Street/dp/0393358380/ref=sr_1_1?dib=eyJ2IjoiMSJ9.soSCpfXMQ6REkxZcLbaR47 OiKg1rSBBNmEW4fh-oZUGkDMlUsELt11n1eb8xBoo3-EJXwQ_wbtkLCtrU-zWdftvQf-o-eI-nD7-hBZbNJfJUfCoQqgGVpip3J-GYZbQvvA00WO6HQJ7RpmU8XavaAcXAdlvjF9T9l-dYbgd8PlpHoy8t2nSC-uvAdNOAhu3q_i9F-0hN4W2iHb8g_mLTHz0X0zjVx_rH_Fq2vDWZeeA.05TQTOp6QG2 GBv-nqmjNQM7JY0skj2JRhP1IDQmOayM&dib_tag=se&hvadid=598 729115495&hvdev=c&hvlocphy=9026132&hvnetw=g&hvqmt= e&hvrand=5264688408498733536&hvtargid=kwd-19958654947&hydadcr=22593_13531299&keywords=the+ra ndom+walk+down+wall+street&qid=1709175226&sr=8-1
Invest as MUCH AS YOU CAN!
I always maxed out my investment contributions each year and spread that % equally over the year. I have never adjusted down - just keep it on auto pilot.
As far as the portfolio, I generally just reallocate it annually. Slow and steady wins these games.
No they do the match just the same. They do the match for us around late spring and it is based on a some formula but last year the match was pretty much the max amount I put in with company stock.
Retired, Gradually changing investment percentages from growth to income. Sitting 50/50 at 75 yrs old.
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