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Saving for retirement? - SanDog - 01-31-2006

Bill Wrote:It's a small company I work for. If I asked for one, and did all the research/paper work for setting one up my bossman would do it.

Thanks for the imput though. I'm gonna try to look into doing both. but for right now I got to figure out which one to start first.

It is not really something you can do with too few people. Not with any real teeth anyway. You would be better served doing a IRA with more options than a 401K with only a couple of people, especially if the boss is not going to offer any matching.

Saving for retirement? - Bill - 01-31-2006

SanDog Wrote:It is not really something you can do with too few people. Not with any real teeth anyway. You would be better served doing a IRA with more options than a 401K with only a couple of people, especially if the boss is not going to offer any matching.

gotcha

Saving for retirement? - Flumper Barflusterbutt - 01-31-2006

401K's are good because you can put more into them each year than an IRA and the company matches some portion of what you put in. The downside to them is you are typically limited on the type of investments available. They tend to use large high maintenance and costly managed funds because their customer service is better.

IRA's are good because you can invest in damn near anything and it will qualify. I have one stock account that is an IRA and I buy and sell stocks out of it just like a regular account. I think you could even buy land with IRA money and claim it as an investment. IRA's give you more freedom.

But, if your company matches your investment in the 401K, then it is a no brainer. You have to do that to get the free money.

Saving for retirement? - Flumper Barflusterbutt - 01-31-2006

cLaY Wrote:I'm set to inherit a very large sum of money in the next few years from my non-birth grandfather. i'll be investing all of it more than likely...unless its more than I imagine, then I may pay off my house and start buying up rental properties and get the fuck out of the 9 to 5 bullshit.
Good news. I hope they find a cure for cancer, too.

Saving for retirement? - Blueeyedwoman - 01-31-2006

What are YOU doing here?

Saving for retirement? - cLaY - 01-31-2006

Flumper Barflusterbutt Wrote:Good news. I hope they find a cure for cancer, too.

Me too.

My grand paps has had emphazema for the last 8 years. All he does all day is sit online and trade. He has about 6 portfolio's that I know of. They all average between 200K and 500K. He recieved all his start up money from my grandmother who's the Waco native. I have no idea how they came into this kind of money, and I'm a little shocked at their net worth.

Saving for retirement? - SanDog - 01-31-2006

Flumper Barflusterbutt Wrote:401K's are good because you can put more into them each year than an IRA and the company matches some portion of what you put in. The downside to them is you are typically limited on the type of investments available. They tend to use large high maintenance and costly managed funds because their customer service is better.

IRA's are good because you can invest in damn near anything and it will qualify. I have one stock account that is an IRA and I buy and sell stocks out of it just like a regular account. I think you could even buy land with IRA money and claim it as an investment. IRA's give you more freedom.

But, if your company matches your investment in the 401K, then it is a no brainer. You have to do that to get the free money.

That is what I was saying.

Saving for retirement? - snarg - 02-02-2006

Bill Wrote:exactly. which kind of pisses me off cause we are forced to pay into it.


just pay up and shut up
snarg will be needing that shit soon
TIA

Saving for retirement? - Raiden - 02-02-2006

IRAs and 401Ks are for retards.

Real Estate, yo!

Saving for retirement? - cLaY - 02-02-2006

Raiden Wrote:IRAs and 401Ks are for retards.

Real Estate, yo!

agreed, but you have to have the start up money.