Should I max out my 401(k) between now and end of year?

[IHateMyJob2004]

It amazes me that wit hall the 401K threads that pop up, NOBODY EVER ASKS WHERE PEOPLE WORK!

Anyone that gave advice without asking this simple question should never give financial advice.

 

[KingGheedora]

Originally posted by: IHateMyJob2004
It amazes me that wit hall the 401K threads that pop up, NOBODY EVER ASKS WHERE PEOPLE WORK!

Anyone that gave advice without asking this simple question should never give financial advice.

Hi, can you please elaborate on why it matters where I work? I described the matching that my employer does, I thought that would be enough info to answer the question.

None of my retirement money is tied to my place of employment, i.e., none of the money is invested in my employer, it's all in ETF's.

 

[TheNinja]

Originally posted by: IHateMyJob2004
It amazes me that wit hall the 401K threads that pop up, NOBODY EVER ASKS WHERE PEOPLE WORK!

Anyone that gave advice without asking this simple question should never give financial advice.

As long as the money is going into a reputable broker (fidelity, etc.) and you are not forced to invest all your 401k into the company, it doesn't matter where you work.

And to the OP, you should put as much into your 401k as you can, but if the company matches you really need to put at least that much in. It's basically an instant 100% gain on your pre-tax money, plus you get market gains as well. If you are scared of the market, your 401k provider should have a low risk bond fund to use that should get you around 5% with no risk. So you'll get 105% gain on your money plus get to learn about compounding interest.

The younger you start the better.

 

[KingGheedora]

Originally posted by: TheNinja

Originally posted by: IHateMyJob2004
It amazes me that wit hall the 401K threads that pop up, NOBODY EVER ASKS WHERE PEOPLE WORK!

Anyone that gave advice without asking this simple question should never give financial advice.

As long as the money is going into a reputable broker (fidelity, etc.) and you are not forced to invest all your 401k into the company, it doesn't matter where you work.

And to the OP, you should put as much into your 401k as you can, but if the company matches you really need to put at least that much in. It's basically an instant 100% gain on your pre-tax money, plus you get market gains as well. If you are scared of the market, your 401k provider should have a low risk bond fund to use that should get you around 5% with no risk. So you'll get 105% gain on your money plus get to learn about compounding interest.

The younger you start the better.

(Thanks for all the info from everyone who replied. )

It's going to sharebuilder.com, owned by ING. Reputable enough, right?

I actually think it's a good time for me to start, at least better than a year, or two, or three ago, which are the first years I would have been able to start one anyways. I chose a more aggressive (stock heavy) model portfolio.

I'm going to max it out for the year, and I'm budgeting to spread my contributions next year across all my paychecks for the year instead of waiting till the end.