401(k)

[So Deeva]

just curious to know how many people here contribute to their 401(k) plans at work or some other type of retirement plan

[poppa pri]

no 401k here...but i have been putting 3grand+ since i turned 18 into an ira...

[stefanm3]

401k since 1991
always the max
--less taxes!

[browneyedgoil]

yes i contribute. always had a good match too. last company matched 6% of what you contribute & current company matches 10%.

[So Deeva]

401k since 1991
always the max
--less taxes!

yes definately! its so important to start at a young age. even people who dont have as much disposable income really need to contribute, even a small amount, it will surely payoff in the long run. plus alot of companies match like browneyedgirl stated, free money right there.

[blondie]

:heythere

[DEEPER KEMICAL]

401k since 17. current employer matches 50%





what do you guys think is the best way to invest and distribute the money?

[blondie]

i get 100%, i thought that was standard... :hmmm
not bad i guess lol

[DEEPER KEMICAL]

i get 100%, i thought that was standard... :hmmm
not bad i guess lol
well it varies..

is it 100% of what your total contribution is, or is it 100% of the first 5% ,which is more standard for a company.

[browneyedgoil]

i get 100%, i thought that was standard... :hmmm
not bad i guess lol

mine matches 100% for up to 10% that you contribute. that is the difference. some match only 50% of what you contribute. usually there is a max % that they will match.

[poppa pri]

401k since 17. current employer matches 50%





what do you guys think is the best way to invest and distribute the money?

dude where do you work lol i want to work there lol

invest - real estate

i currently collect 1g a month from a few friends to save up so we can buy some property together or else they would just blow it...

[nycxtcgirl69]

i dont have one. every company ive worked for doesnt offer them

[DEEPER KEMICAL]

dude where do you work lol i want to work there lol

invest - real estate

i currently collect 1g a month from a few friends to save up so we can buy some property together or else they would just blow it...
well i cant invest my 401k earnings in real estate. i was curious to know where to distribute the money. like stocks? bonds? international market? my company has a nice selection, but im choosing the 5 star options from Fidelity.

[DEEPER KEMICAL]

i dont have one. every company ive worked for doesnt offer them
do u invest in an IRA then?

[So Deeva]

401k since 17. current employer matches 50%





what do you guys think is the best way to invest and distribute the money?

invest- most people should stick to asset allocation for retirement plans, this money if tied up until you turn 59&1/2 so you can afford to be aggressive with your investment choices

to distribute - well that depends on your financial situation when you retire

[nycxtcgirl69]

do u invest in an IRA then?

no i onnly have savings accts.
I have no idea how to invest or where to do it. :pullhair

[browneyedgoil]

i just do the target 2040 retirement & let them pick for me. it's through Fidelity.

[DEEPER KEMICAL]

no i onnly have savings accts.
I have no idea how to invest or where to do it. :pullhair
then look into a Roth IRA. you should deff be putitng aside money right now for the future


a Roth IRA is like a 401k, except that it is done AFTER taxes and you dont pay taxes when you take it out.

[So Deeva]

well i cant invest my 401k earnings in real estate. i was curious to know where to distribute the money. like stocks? bonds? international market? my company has a nice selection, but im choosing the 5 star options from Fidelity.

for a younger person, large, mid, small cap, international & emerging market funds are good mix (it all depends on your age, risk tolerance etc.)

401(k) plans will limit your investment choices to their platform so it is also very beneficial to have an IRA where there arent such limits

[So Deeva]

no i onnly have savings accts.
I have no idea how to invest or where to do it. :pullhair

i will help you if you want, PM me your AIM

[FAST]

I been putting 6% , and I think my company matches but I forget the %

I have it in 50 % moderate
and 50 % agressive,

[DEEPER KEMICAL]

for a younger person, large, mid, small cap, international & emerging market funds are good mix (it all depends on your age, risk tolerance etc.)

401(k) plans will limit your investment choices to their platform so it is also very beneficial to have an IRA where there arent such limits
right now i am invested in LARGE CAP, INTERNATIONAL, BONDS and INCOME

right now im at 20%/paycheck. may increase it

[So Deeva]

i get 100%, i thought that was standard... :hmmm
not bad i guess lol

100% of what percent of your salary? Mine matches up to 5%



Heres a simple way to explain it

* an employer match is in addition to your annual contributions. its based on a percentage of your annual contributions. the range can be anywhere from 0% to 100%.

* i.e. say the employer matches 50% of the employee's contributions up to 6% of their salary & the employee earns $100,000 per year and contributes 10%

$10,000 from the employee
$3,000 from the employer (which is 50% of $6,000 or 6% of the annual salary).
= $13,000

[FAST]

i get 100% up to 3 %

cheap asses

[DEEPER KEMICAL]

i get 100% up to 3 %

cheap asses
how come you contribute 6%?

financial situation? i thought you made lots of cash? i would have thought deff like 20% from you

[stefanm3]

My portfolio & current allocations

http://img229.imageshack.us/img229/6025/mycurrentallocationsrc1.png (http://imageshack.us)

under 50 max: 15,500yr + company match

[So Deeva]

My portfolio & current allocations

http://img229.imageshack.us/img229/6025/mycurrentallocationsrc1.png (http://imageshack.us)

i dont know how old u are, im assuming your not in your mid 50s lol

but that looks like a very heavy weighting in fixed accounts.

[browneyedgoil]

i put 10% in because my company matches 100% up to 10% of what i contribute. i don't put more bc i'm only 26 & there are other things i need to put my $ towards right now. plus, according to the chart they give. if u put 10% now, after 20 years i'll have over a million so that's enough for me.

[stefanm3]

i put 10% in because my company matches 100% up to 10% of what i contribute. i don't put more bc i'm only 26 & there are other things i need to put my $ towards right now. plus, according to the chart they give. if u put 10% now, after 20 years i'll have over a million so that's enough for me.


Q1: Why don't you put the Max allowable
Q2: 20 years only if you don't change any jobs/unemployed/etc or request loans to avoid taxes
Q3: Other things such as Real Estate, perhaps? < you don't have to answer this one btw lol <

[stefanm3]

i dont know how old u are, im assuming your not in your mid 50s lol

but that looks like a very heavy weighting in fixed accounts.

30's

[browneyedgoil]

Q1: Why don't you put the Max allowable
Q2: 20 years only if you don't change any jobs/unemployed/etc or request loans to avoid taxes
Q3: Other things such as Real Estate, perhaps?

i am 26 & i only make $65k base per year. i can't put anymore than 10% & still pay my bills & be able to live. i think putting 10% in when my company matches that 10% (equally 20%) is good. maybe once i make more $ i will put more in.

[stefanm3]

i am 26 & i only make $65k base per year. i can't put anymore than 10% & still pay my bills & be able to live. i think putting 10% in when my company matches that 10% (equally 20%) is good. maybe once i make more $ i will put more in.

You didn't have to disclose this info.. My apologies.

[browneyedgoil]

You didn't have to disclose this info.. My apologies.

lol.

[So Deeva]

Q1: Why don't you put the Max allowable
Q2: 20 years only if you don't change any jobs/unemployed/etc or request loans to avoid taxes
Q3: Other things such as Real Estate, perhaps? < you don't have to answer this one btw lol <

because people have different financial situations :yourcrazy

[just jess]

be aggressive ...B-E Aggressive...B-E-A-G-G-R-E-S-S-I-V-E

thats what i learned about 401k this past week :chuckle

[FAST]

how come you contribute 6%?

financial situation? i thought you made lots of cash? i would have thought deff like 20% from you

lol,

I have bills to pay, student loans and such, and I mostly been saving for the ownpayment on my aprtment, so I did not want to tie too much in investments

I will probably up it to 10 % after I get my raise in jan

[So Deeva]

be aggressive ...B-E Aggressive...B-E-A-G-G-R-E-S-S-I-V-E

thats what i learned about 401k this past week :chuckle


yes esp if you have over a 20 yr time horizon u can definately afford to invest in all equities and no fixed in your accounts, but then again it all depends on the persons risk tolerance (ability to handle short term losses/swings in the value of the portfolio) as well.


aggressive in a smart way remember that colored box chart i showed you :shuffle lol asset allocation !

[So Deeva]

lol,

I have bills to pay, student loans and such, and I mostly been saving for the ownpayment on my aprtment, so I did not want to tie too much in investments

I will probably up it to 10 % after I get my raise in jan

exactly everyone has a unique scenerio it is unfair for someone to say u should put more here or u should invest more there when they have no understanding of your financial picture!

[DEEPER KEMICAL]

lol,

I have bills to pay, student loans and such, and I mostly been saving for the ownpayment on my aprtment, so I did not want to tie too much in investments

I will probably up it to 10 % after I get my raise in jan


exactly everyone has a unique scenerio it is unfair for someone to say u should put more here or u should invest more there when they have no understanding of your financial picture!



didnt mean to put him on the spot. was just curious because i thought he made like a million a year :chuckle

[christyne13]

I been putting 6% , and I think my company matches but I forget the %

I have it in 50 % moderate
and 50 % agressive,

same, except we dont have a company match because of having an ESOP

[FAST]

didnt mean to put him on the spot. was just curious because i thought he made like a million a year :chuckle

hey now,

I friggin wish, man, im just a squirrel trying to get a nut

but you did make me realzie I should be putting away more, so I just upped it to 10 %

thanks :heythere

[FAST]

same, except we dont have a company match because of having an ESOP

whats esop ?

profit sharing ?

[admin]

I would never pay taxes before contribution, figure the $ you pay in taxes you can invest and make a lot more. Why not make $ with the government's $ and pay taxes later, I don't get why people pay taxes before.
Also with an IRA you can't take 50% out whenever you need it as a loan unlike 401k. So if you need $ for an emergency and you have IRA you can't touch your IRA $, which sucks cause it's nice to have that emergency blanket even if you don't use it.

I have my 401k invested in 100% emerging markets, last 3 years I had an average of 38% return. Since I don't work for any company anymore I'm transferring my $ to E-trade 401k. They have this one 401k program for business owners that have no full time employees, it enables you to invest openly in any stock or mutual fund, it's risky but I like risks. Will dump most of it into Apple stock.

Btw if you are under 30 then you should invest aggressively in your 401k with no less than 6% contribution imo.<o:p></o:p>

[DEEPER KEMICAL]

hey now,

I friggin wish, man, im just a squirrel trying to get a nut

but you did make me realzie I should be putting away more, so I just upped it to 10 %

thanks :heythere
:chuckle

[So Deeva]

I would never pay taxes before contribution, figure the $ you pay in taxes you can invest and make a lot more. Why not make $ with the government's $ and pay taxes later, I don't get why people pay taxes before.
Also with an IRA you can't take 50% out whenever you need it as a loan unlike 401k. So if you need $ for an emergency and you have IRA you can't touch your IRA $, which sucks cause it's nice to have that emergency blanket even if you don't use it.

I have my 401k invested in 100% emerging markets, last 3 years I had an average of 38% return. Since I don't work for any company anymore I'm transferring my $ to E-trade 401k. They have this one 401k program for business owners that have no full time employees, it enables you to invest openly in any stock or mutual fund, it's risky but I like risks. Will dump most of it into Apple stock.

Btw if you are under 30 then you should invest aggressively in your 401k with no less than 6% contribution imo.<o:p></o:p>


ALSO...
roth iras (with income limitations) and roth 401ks (with none)...tax free at distibution, holla

[nycxtcgirl69]

i am 26 & i only make $65k base per year. i can't put anymore than 10% & still pay my bills & be able to live. i think putting 10% in when my company matches that 10% (equally 20%) is good. maybe once i make more $ i will put more in.

what do u do for a living

[browneyedgoil]

what do u do for a living

corporate recruiter for a pharmaceutical company. geez, i didn't think i made THAT low! i know tons of other ppl who make way less who r in my age bracket. :shuffle

[nycxtcgirl69]

corporate recruiter for a pharmaceutical company. geez, i didn't think i made THAT low! i know tons of other ppl who make way less who r in my age bracket. :shuffle

no i think u make a lot. lol u should buy me dinner!

[chromeheart]

i got a 401k i dont know how often my acct gives to it but it off sets some shit at end of year so i do it

[stefanm3]

corporate recruiter for a pharmaceutical company. geez, i didn't think i made THAT low! i know tons of other ppl who make way less who r in my age bracket. :shuffle

One of my friends who works for Pfizer, same Business Card Title as yours with 5yrs Experience makes some decent Money.

He also travel 50%.

[DEEPER KEMICAL]

One of my friends who works for Pfizer, same Business Card Title as yours with 5yrs Experience makes some decent Money.

He also travel 50%.
pharm reps make good money, depending on the company they rep.

[browneyedgoil]

One of my friends who works for Pfizer, same Business Card Title as yours with 5yrs Experience makes some decent Money.

He also travel 50%.

give me his email address so i can ask him for a job lol.
i only have 2 yrs experience tho but i do have a masters. haha.

[MiKEY DOOODiE]

5$ an hour for every hour i work for my pension
1$ an hour for every hour i work for my annuity

all since i was 18

[chromeheart]

5$ an hour for every hour i work for my pension
1$ an hour for every hour i work for my annuity

all since i was 18

union worker i presume.. unions are awesome thanks to them all the work isin fuckin china

[ghostnyc]

I would never pay taxes before contribution, figure the $ you pay in taxes you can invest and make a lot more. Why not make $ with the government's $ and pay taxes later, I don't get why people pay taxes before.
Also with an IRA you can't take 50% out whenever you need it as a loan unlike 401k. So if you need $ for an emergency and you have IRA you can't touch your IRA $, which sucks cause it's nice to have that emergency blanket even if you don't use it.

.<o:p></o:p>


i disagree

my company has a 401K ROTH..and i immediately switched over when it became available.

i dont intend to be at the same tax bracket when i retire as i am now, i will most likely be at the highest possible tax bracket (barring any unforseen meltdowns), so if i can pay taxes @ a lower rate now, and eliminate my future tax obligation..why not?

[ghostnyc]

union worker i presume.. unions are awesome thanks to them all the work isin fuckin china

worst..unions r the downfall of america

[AliLES]

ALSO...
roth iras (with income limitations) and roth 401ks (with none)...tax free at distibution, holla

yup...I have 10% in a reg 401k aggressive alloc. mostly for tax alleviation purposes & 2% right now in a roth 401k. Will reallocate more from my 401k into my roth 401k when I purchase my home.

[So Deeva]

my company has a 401K ROTH..and i immediately switched over when it became available.

i dont intend to be at the same tax bracket when i retire as i am now, i will most likely be at the highest possible tax bracket (barring any unforseen meltdowns), so if i can pay taxes @ a lower rate now, and eliminate my future tax obligation..why not?

i switched to the roth 401k right away as well b/c 1. i do not need any tax deductions from contributing to a 401k (i have enough write offs) 2. i cannot contribute to a roth ira b/c of my income 3. i intend on retiring at a high tax bracket 4. no taxes at distibution on any of my appreciated assets !

but again people have very different and complex financial issues it would be best to consult an accountant regarding whether to switch to a roth

[ghostnyc]

pretty much the same reasons i have. i cant tell u how many times ive had this convo with ppl

[So Deeva]

pretty much the same reasons i have. i cant tell u how many times ive had this convo with ppl

i have convos like this every day, all day long, though i am compenstated for it thank god.

roth or non roth, people should be contributing to some kind of retirement plan even minimal amounts, period. take advantage of these major tax benefits.


even if you cant participate in a 401(k) plan through an employer i.e. if you are self employed you can put away money in a SEP or a Solo(k) to get around the those IRS IRA contribution limits.

[MiKEY DOOODiE]

worst..unions r the downfall of america

thats a pretty bold statement ... without unions workers would be treated like shit just like you people in the corporate world get treated by your employer .... i wish i worked 12 hours a day to make 45k a year :rolleyes:

and chrome funny you say that being right now nyc doesnt even have enough union workers to man jobs and all construction unions are opening their books and letting people in bc of that matter ... nyc is a union city outside of ny thats a different story but i really dont care about outside of here bc theres enough work here to keep me busy until i retire

[ghostnyc]

ask ur union boss why so many companies are outsourcing...the unions have successfully outpriced their members for most jobs in america...so companies are fleeing for cheaper labor

this country used to be built on the blue collar worker...now its us poor corporate suckers who are pulling u guys along

the worst part about this is the corruption that proliferates the unions in existence today all thru the US. when was the last time ur union boss picked up a hammer? never. he's sitting pretty making side deals and collecting ur union dues..while u splatter ur truck with LOCAL w/e stickers screaming UNION AND PROUD. he's proud of you too..proud your kids will go to a CUNY/SUNY..while his kids will attend Ivy

sorry..my opinion on unions turned a long time ago.

[=Lee=]

I contribute 7% & my employer contributes 3% for a total of 10% of my annual salary. I've had it this way since day 1 when I began it at 25 years old. I cant wait to retire to spend that shit!

[Just Paul T.]

i contribute 8% and company matches up to 8%....

I'm currently in the S&P 500, Aggregate Bond Index, Emerging Markets, and Wellington Mid Cap Fund... once that builds up after a few pay checks i will try to diversify in other funds

[admin]

i disagree

my company has a 401K ROTH..and i immediately switched over when it became available.

i dont intend to be at the same tax bracket when i retire as i am now, i will most likely be at the highest possible tax bracket (barring any unforseen meltdowns), so if i can pay taxes @ a lower rate now, and eliminate my future tax obligation..why not?

How much higher braket will you be in, maybe 10% higher: http://www.moneychimp.com/features/tax_brackets.htm

You can make more $ with their money then you'll pay taxes if you invest the right way, that's just my opinion.

[DEEPER KEMICAL]

why is a ROTH better than a standard 401k. The ROTH you are putting money AFTER taxes, whereas a standard 401k you are putting money in BEFORE taxes...

i say, pay myself first before the government.

[So Deeva]

why is a ROTH better than a standard 401k. The ROTH you are putting money AFTER taxes, whereas a standard 401k you are putting money in BEFORE taxes...

i say, pay myself first before the government.

yes but when you take the money out when you retire it will be taxed. thats why people do a traditional 401k as opposed to the roth 401k because they assume that they will be at a lower tax bracket at retirement (their money will be taxed less when they withdraw).

those who anticipate being in a higher tax bracket (i.e those who have accumulated a substantial amount of wealth over their lifetime) are pushed into a higher tax bracket when they retire so for them it is worth skip the tax deduction now and get tax free withdrawals later.

nonetheless roth 401k is definately not meant for everyone.

[DEEPER KEMICAL]

yes but when you take the money out when you retire it will be taxed. thats why people do a traditional 401k as opposed to the roth 401k because they assume that they will be at a lower tax bracket at retirement (their money will be taxed less when they withdraw).

those who anticipate being in a higher tax bracket (i.e those who have accumulated a substantial amount of wealth over their lifetime) are pushed into a higher tax bracket when they retire so for them it is worth skip the tax deduction now and get tax free withdrawals later.

nonetheless roth 401k is definately not meant for everyone.
i thought u are only taxed if you take it out BEFORE you retire?

[So Deeva]

i thought u are only taxed if you take it out BEFORE you retire?

no way jose lol, you are taxed at "ordinary income" when you withdraw at retirement. what you are referring to is an early taxable distribution (before 59&1/2) that comes along with a nice 10% penalty from uncle sam.

[DEEPER KEMICAL]

no way jose lol, you are taxed at "ordinary income" when you withdraw at retirement. what you are referring to is an early taxable distribution (before 59&1/2) that comes along with a nice 10% penalty from uncle sam.
interesting. so a ROTH you are paying taxes now at todays rate, rather then an unknown tax rate in the future.


i wonder if there is any way to guage to differences economically between the two. like a hypothetical situation to see if it is worth it.

[So Deeva]

interesting. so a ROTH you are paying taxes now at todays rate, rather then an unknown tax rate in the future.


i wonder if there is any way to guage to differences economically between the two. like a hypothetical situation to see if it is worth it.


http://www.smartmoney.com/retirement/401k/index.cfm?story=roth-ira-calculator

[Just Paul T.]

Also another perk with a ROTH IRA u can take a pre-mature distribution without being penalized... again it depends on ther person and what they wish to do

[So Deeva]

Also another perk with a ROTH IRA u can take a pre-mature distribution without being penalized... again it depends on ther person and what they wish to do

you are also not forced to take a required minimum distribution at age 70 &1/2 for those who never want to tap into their nest egg lol

[=Lee=]

yes but when you take the money out when you retire it will be taxed. thats why people do a traditional 401k as opposed to the roth 401k because they assume that they will be at a lower tax bracket at retirement (their money will be taxed less when they withdraw).

those who anticipate being in a higher tax bracket (i.e those who have accumulated a substantial amount of wealth over their lifetime) are pushed into a higher tax bracket when they retire so for them it is worth skip the tax deduction now and get tax free withdrawals later.

nonetheless roth 401k is definately not meant for everyone.



So what do they base your tax rate at when you retire? The amount you are with drawling each year from your 401k? If thats the case, I dont see the advantage because my livings expenses should be greatly reduced. I dont think I would need nearly the income level that I require now. By that time I will have my house paid off, my kids already through college, etc...:hmmm

[ghostnyc]

How much higher braket will you be in, maybe 10% higher: http://www.moneychimp.com/features/tax_brackets.htm

You can make more $ with their money then you'll pay taxes if you invest the right way, that's just my opinion.

any way u look @ it, that money is deferred. its just a matter of when you're going to be taxed on it and at what rate. it isnt like u can take the difference between whats deducted in a roth vs regular and invest it..the money is still defered ..you dont have access to it

[So Deeva]

So what do they base your tax rate at when you retire? The amount you are with drawling each year from your 401k? If thats the case, I dont see the advantage because my livings expenses should be greatly reduced. I dont think I would need nearly the income level that I require now. By that time I will have my house paid off, my kids already through college, etc...:hmmm

alot of people who have accumulated wealth over time also have alot of passive income placing them in higher tax brackets indefinately. it all depends on your situation. personally i can also bet that the government will raise these tax brackets before i retire.

[Eleni]

you are also not forced to take a required minimum distribution at age 70 &1/2 for those who never want to tap into their nest egg lol


never? what u savin it for girl when u are 100 years old? :keke

[=Lee=]

alot of people who have accumulated wealth over time also have alot of passive income placing them in higher tax brackets indefinately. it all depends on your situation. personally i can also bet that the government will raise these tax brackets before i retire.


I'm really not educated on this so I appreciate your help. Does your physical assets have a factor in your tax bracket? In other words, if I owned 2 homes free & clear at retirement valued at a combined $2,000,000 will that affect what tax bracket I am in?

[MiKEY DOOODiE]

ask ur union boss why so many companies are outsourcing...the unions have successfully outpriced their members for most jobs in america...so companies are fleeing for cheaper labor

this country used to be built on the blue collar worker...now its us poor corporate suckers who are pulling u guys along

the worst part about this is the corruption that proliferates the unions in existence today all thru the US. when was the last time ur union boss picked up a hammer? never. he's sitting pretty making side deals and collecting ur union dues..while u splatter ur truck with LOCAL w/e stickers screaming UNION AND PROUD. he's proud of you too..proud your kids will go to a CUNY/SUNY..while his kids will attend Ivy

sorry..my opinion on unions turned a long time ago.

the corruption is phenominal ill agree with you on that

[So Deeva]

never? what u savin it for girl when u are 100 years old? :keke

LMAO Eleni i wasnt referring to me personally. it is just another "benefit" for those who dont want to tap into their nest eggs at all. trust me there are alot of crazy rich folks out there who are about to roll right into their graves without even touching a penny of their savings (just becuase they live off of their social security, pensions, DIVIDENDS, rent checks from property, etc). this is how people accumulate their wealth and pass it on to their heirs causing an ongoing stream of wealth from generation to generation.

[So Deeva]

I'm really not educated on this so I appreciate your help. Does your physical assets have a factor in your tax bracket? In other words, if I owned 2 homes free & clear at retirement valued at a combined $2,000,000 will that affect what tax bracket I am in?

factors such as income (when alot of people retire they alot of portfolio & passive income i.e. real estate income), your filing status, the number of deductions you have etc. will affect what bracket youre in (not the amount of non-disposable dollars i.e. real estate). the best person to advise you on whether to do a Roth vs a Reg 40k/IRA would be your accountant.

[argdiesel]

Great Thread guys :)

[christyne13]

whats esop ?

profit sharing ?

:agree Employee Stock Option Plan... but it's not really worth much, company hasn't been doing well. I wish they would abolosh and match the 401k instead :shuffle

[TheHipHopBillGates]

i switched to the roth 401k right away as well b/c 1. i do not need any tax deductions from contributing to a 401k (i have enough write offs) 2. i cannot contribute to a roth ira b/c of my income 3. i intend on retiring at a high tax bracket 4. no taxes at distibution on any of my appreciated assets !

but again people have very different and complex financial issues it would be best to consult an accountant regarding whether to switch to a roth

does a roth 401k have the same $97,500 cap that a roth IRA has?

[So Deeva]

does a roth 401k have the same $97,500 cap that a roth IRA has?

nope

[James Maxx]

100% up to 4%. Which I contribute.

[MIAMI_JESSAY]

How much should i put into my 401k if my job doesnt match me?

[DEEPER KEMICAL]

How much should i put into my 401k if my job doesnt match me?
atleast 5%...the way i see it

pay yourself first..then pay everyone next.

[MIAMI_JESSAY]

Spank you! Your right i like that! i think its my new sig :agree

[TheHipHopBillGates]

atleast 5%...the way i see it

pay yourself first..then pay everyone next.

they say 10% if you want to maintain the level you currently live, otherwise you'll be forced to be more conservative, but I think that's just more of a general guideline then ironclad.

http://www.msnbc.msn.com/id/21083120/

[browneyedgoil]

question about roth ira- aren't u ineligible to do this if u make more thank $100k per yr?

[berniec]

question about roth ira- aren't u ineligible to do this if u make more thank $100k per yr?

if you are married, i think the limit if you file single is you gotta be under 70k.

[So Deeva]

question about roth ira- aren't u ineligible to do this if u make more thank $100k per yr?

yes
for 2007:
contributions phases out for single filers when income (modiified adjusted gross income) is 99k +
for married filers 156k +

[blueJ]

7% + 5% match= 12%