Go Back  HuntingNet.com Forums > Firearms Forum > Black Powder
 little advice/ just got info on my 401k >

little advice/ just got info on my 401k

Black Powder Ask opinions of other hunters on new technology, gear, and the methods of blackpowder hunting.

little advice/ just got info on my 401k

Old 03-12-2008, 10:46 AM
  #21  
Typical Buck
 
hossdaniels's Avatar
 
Join Date: Oct 2006
Location: Person Co. NC
Posts: 884
Default RE: little advice/ just got info on my 401k

A couple of good places to check out are:

https://personal.vanguard.com/us/HomepageOverview

and

https://www.fidelity.com/


hossdaniels is offline  
Old 03-12-2008, 11:19 AM
  #22  
Nontypical Buck
 
Join Date: Aug 2005
Location: New Mexico
Posts: 1,081
Default RE: little advice/ just got info on my 401k

For some good basic finacial info for the average investor, I like a lot of the stuff this guy has to say.

http://www.daveramsey.com/
dmurphy317 is offline  
Old 03-12-2008, 11:37 AM
  #23  
Nontypical Buck
Thread Starter
 
corey012778's Avatar
 
Join Date: Aug 2007
Location: Staunton,Va
Posts: 3,713
Default RE: little advice/ just got info on my 401k

ahhhhhhhhhhhhh, lol,

hummm,
dmurphy317
That $2500 if invested for 35 years at a very conservative 6% will become $19,000+, at 8% close to $37,000, at 10% around $70,000 and at 12%about $132,000. Over that amount of time in a proper investment you should be able to average somewhere in the 8 to 12 percent range based on past stock market performance for that length of term
by that and when I get a new job and do an 401k (maybe) I would be in pretty good shape in I retire.

I just called the compeny that it is in. it is going to be with fed tax, state tax, and the fed taking so more, 34%
corey012778 is offline  
Old 03-12-2008, 11:48 AM
  #24  
 
Join Date: Jan 2006
Location: TEXAS!!!
Posts: 135
Default RE: little advice/ just got info on my 401k

Roll it into an IRA, the taxes will kill you along with the penalty. Not to mention that's retirement money you will never recouperate if you take it out.
txfireman is offline  
Old 03-12-2008, 03:05 PM
  #25  
Typical Buck
 
hossdaniels's Avatar
 
Join Date: Oct 2006
Location: Person Co. NC
Posts: 884
Default RE: little advice/ just got info on my 401k

If you have the determination to do it, a roth ira would likely be better than a 401k, as long as you still give up to the match if you are lucky enough to get one. I havea roth(generic target retirement)set up to take a $100 out of the bank every two weeks, and still add more when I can(up to $5000 this year). So that way its kind of automatic like a 401k.

PS. I am a dumb hick farmer, not a financial advisor, sothis advice is only worth what you paid for it. I still try to keep up. I'm 30 years old too and dont think there is a snow balls chance in hell I'll ever see a social security check.
hossdaniels is offline  
Old 03-12-2008, 10:05 PM
  #26  
Fork Horn
 
Join Date: Aug 2007
Location: Midwest
Posts: 274
Default RE: little advice/ just got info on my 401k

I am not a financial advisor either, but I did stay at a Holiday Inn Express recently. For the love of Pete, do not take the money out. I had a small amount in a pension after taking a new job after six months of employment. I went through a local credit union and rolled it over into a traditional IRA then into a Roth. For some reason, I think I had to do it that way. Anyway, if memory serves me correctly, there are certain withdraws you can make from your Roth before 59 1/2 without penalty. Someone correct me if Iam wrong, but I think you can withdraw penalty free money for qualifying medical expenses and even for a down payment for a first time homebuyer. Also, qualifying higher education expenses for you, your spouse, or children.
cherokee75 is offline  
Old 03-12-2008, 10:10 PM
  #27  
Fork Horn
 
Join Date: Aug 2007
Location: Midwest
Posts: 274
Default RE: little advice/ just got info on my 401k

Found a link for Roth IRAs
http://www.rothira-advisor.com/roth.htm#1B
cherokee75 is offline  
Old 03-12-2008, 10:30 PM
  #28  
Nontypical Buck
Thread Starter
 
corey012778's Avatar
 
Join Date: Aug 2007
Location: Staunton,Va
Posts: 3,713
Default RE: little advice/ just got info on my 401k

I am going to roll it over to an ira. I am not losing all that money. anyway I got a line on 2 jobs today one makes double then the other. lesser payng job is almost 100%, I have worked for 2 of the managers that is running the place.
corey012778 is offline  
Old 03-13-2008, 08:46 PM
  #29  
Fork Horn
 
Join Date: Oct 2005
Location:
Posts: 255
Default RE: little advice/ just got info on my 401k

Good choice...seriously- think about this for a second. There is some decent advice offered above. $2500 is a decent little lump of change, but do not seek the help of a financial advisor- not nessesary for your rollover. This is a hunting website- and if you drill further down, you have solicited advice on investing and 401(k)'s on a blackpowder forum and you have 3+ pages of responses...Truthfully, I am amazed at the responses. In a good way, since most of the advice has been to invest and let compounding interest take over. Warren Buffet, John Bogle and many others have advised that average individualsinvest via index mutual funds with below average expenses. Thus, go to vanguard, Troweprice or schwab.com and do a little research...If I were you, I would roll it over into an IRA at Vanguard and put 33% in S&P 500 fund, 33% in Russell 2000, and 33% in MSCI EAFA index. (66% US stocks, and 33% Foreign stocks). Let it ride for 35 years and continually add to it...you will thank yourself one day! good luck
saltflyz is offline  
Old 03-13-2008, 08:59 PM
  #30  
Nontypical Buck
Thread Starter
 
corey012778's Avatar
 
Join Date: Aug 2007
Location: Staunton,Va
Posts: 3,713
Default RE: little advice/ just got info on my 401k

I got a job interview monday. it may just roll it over into another 401k if I get the job. this one will pay almost twice what I made at my old. it is also an union job.

plus I got to other places, all I have to do is turn in an app. and I will have a job.


corey012778 is offline  

Quick Reply: little advice/ just got info on my 401k


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.