2006-09-18 10:51:29 · 6 answers · asked by m2565jones 1 in Business & Finance ➔ Investing
Every company's 401K is different. There are certain basics though.
1. If the company matches part of your contribution, always contribute at least the maximum that they will match. It is like a tax free raise.
2. If you want a tax break this year, put the maximum that you can afford into your 401K. It is all pre-tax money.
3. Study the offering carefully, and invest in whatever funds are offered wisely.
4. You probably cannot contribute to a Traditional IRA in the same year as you contribute to a 401K plan, but you can also contribute to a Roth IRA if you can afford it.
5. When you leave the company, roll your 401K over into a conduit IRA so you can put it in your new company's 401K next time. Keep this seperate from your other IRAs. Do the same with your pension plan.
2006-09-18 14:20:43 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Contact a financial adviser to help you with your 401K. I think that is the best and safest way.
2006-09-18 17:53:42 · answer #2 · answered by Mrs. B 1 · 0⤊ 0⤋
Yes you could learn invest by yourself. it is your money, you should know how to do with it. for starter check this site out.
http://www.pathtoinvesting.org/index_fla...
http://www.stockcharts.com
http://www.streettalklive.com section university. a lot amount of information. It will serve you well
I accumulate in good amount in 401k at the young age.I could share with you. when consider invest in stock market. you should consider basic 3 things:
fundamental analysis==(economic data,finincial health, management, business model, competetion)>>what to buy
technical analysis==(chart+indicator)>> when to buy
Sentiment/schycho analysis==>>mood of investor, Contrarian point of view.
Market cycle===>> check out book Trader Almanac by jeff hirsch will give you inside stuff
When you combine 3 thing, It is one of the powerful knowledge goinh with you for the rest of your live
At the age of 32. my 401k is amassed 74,000.00 and 30000.00 in taxble account. by follow simple rule
2006-09-19 00:07:05 · answer #3 · answered by Hoa N 6 · 0⤊ 0⤋
All I can tell you is be sure to roll it over when switching companies or jobs. Don't cash it out too early, or you'll be hit with nasty taxes. This happened to me, and was a stupid and costly mistake on my part.
2006-09-18 18:06:04 · answer #4 · answered by atomicfrog81 3 · 0⤊ 0⤋
Do your homework and choose the options that make sense for the long run. Then forget about it for 6 months.
2006-09-18 18:04:52 · answer #5 · answered by Steve M 3 · 0⤊ 0⤋
do u have that cash , and if u have , i can give u 2 choises :
1st : spent it on cars , chicks , travel and have fun .
2nd : open a hookers company that manage hookers and thier job .
2006-09-18 18:36:13 · answer #6 · answered by midodisho 2 · 0⤊ 1⤋