 Quicken - can you suggest an alternative? |
Really like Quicken 98 for the investment tools (not so much the budget aids). This is no longer available in the UK any suggestions on an alternative.
Would like an asset allocator tool, a ... |
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 Where can I find someone to help me w/purchasing stocks? |
| There are so many websites out there for buying stocks and it is making me very overwhelmed! I do not have a lot of money to start out with. The most important thing that I need is a website or a ... |
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 Is it safe to bank anymore? |
| Where is a safe bet to invest where money will grow steadily & more importantly SAFELY. With the latest round of banking fiascos it seems that those who save get penalised by those that dont!... |
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 Which stocks to buy and why? |
| Obviously, the stock market is not doing very well just about everywhere, but does anyone know of the stocks that are actually succeeding. Thanks in advance for the help.... |
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 Stock Market? |
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 Can anyone help me regarding share market????? |
| How to study share market stocks in detail. I have tried it through books and online but I want more info. Please help!!!... |
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 How do you get into investing in stocks and bonds? What is the minimum to invest? |
| I'm thinking about investing in stocks and bonds but I don't know the first step to take in investing in one. Do I go through a broker? How do I find one? How do I find one that won't ... |
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 I am 15 and looking for a good investing book what is one? |
| So i am 15 almost 16 and i have just recently been looking at the stock market and what it can do for me. I only know the basic stuff about it, like how it works and what it means to buy and sell. I ... |
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 Which is the best fund to invest as a systematic investment plan to 1000 rupees per month in india? |
| i want to know which is the best fund in which i should invest rs 1000 every month. can u suggest me ????... |
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 So. i am 15 and i got a job 110 a week should i buy my laptop now or do monthly payments? |
if i buy it now it will take a year to get the money
Additional Details
the laptop is 2200... |
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 Who is the most reliable "business(money) adviser"....Mr. Kiyosaki or Suze Orman..? |
Can you recommend any reliable business adviser in the U.S?
It doesn't have to be Robert Kiyosaki or Suze Orman.
Additional Details
To Everyone:
Thank you so much for ... |
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 If an individual had $50000.00 extra ,? |
What would be the best way to earn money from that money,assuming he does not need it for at least 8 months.Something better than a CD,and simpler than stocks .THANK YOU FOR YOUR HELP!!!
A... |
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feistylilone | Confused about 401k stuff? |
i have no idea where to start or what to take into consideration, all i know is i dont want to be broke when i retire....my company states it will match contributions equal to the greater of 100% of the 1st $1,200 of your deferred contributions or 50% of the 1st 6% of your deferred contributions at 6% the company match is maximized....im not at all sure what this means...what should you suggest i go with...i mean should i bother, im 22 yrs.old...if someone can show me an example of some sort...i mean i don't make barely any money at all but i still think i should start saving...your help would be greatly appreciated....thanks for the time.... |
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Annie
 |
I was in the same boat as you about 30 years ago. I started putting money away and I retired in my 40's...very well off. I never have to work again. Do it.
Things to NOT do:
1. Do not use a financial adviser. Their fees will eat you alive.
2. Do not start playing around with timing the market and chasing past returns. Set yourself up with a diversified portfolio and leave it alone except to re-balance.
3. Do not buy expensive funds.
4. Never take that money out until you're ready to retire.
DO:
1. Read this article so you know what to invest in:
http://www.amexsux.com/cgi-bin/yabb/YaBB.cgi?num=1119185052
2. Read articles like this:
http://www.signonsandiego.com/news/business/shaughnessy/20070624-9999-1b24lynn.html
2. Take a free course - Morningstar.com has a good one.
It is fantastic that you are starting early!!!!! |
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Spartacus
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Generally speaking, your best bet is going to be to contribute whatever it takes to receive the maximum match from your employer. They're essentially giving you free money as long as you're contributing too, so you want to take advantage. With that being said, there are a lot of reasons why that's not always practical (you can't afford it, you want to save money for something else, etc.).
After you have maxed out the match from your employer, you may want to consider a Roth IRA if you're interested in saving more. The thought being that you're likely in a lower tax bracket now than you would be when you retire (that may not be the case). I don't want to get off track though.
For purposes of figuring out which match category you might fall into, let's assume you make $20,000/year. Your employer will match the greater of:
1. 100% of the first $1,200 of your contributions. In this case, as long as you contribute $1,200, so will your employer. You'll have $2,400 total contributed. If you were to contribute $2,000, your employer would still only contribute $1,200 under this option.
2. 50% of the first 6% of your contributions. In this case, if you contribute the same $1,200 ($20,000 * 6% = $1,200), the employer contribution would only be $600 (your contributions were 6%, they' match 50% of your 6%, so $1,200 * 50% is $600. If you were to contribute $2,000, your employer would still only contribute $600, because there contribution is limited to 50% of your first 6%.
BUT... Remember they're contributing the greater of option 1 and option 2. So Option 1 is the category you'd fall into.
Say you made $50,000...
1. Again, the most you can get from the employer here is $1,200. So if you put in $3,000, your employer puts in $1,200.
2. If you again contribute at 6%, you would be at $3,000 ($50,000 * 6% = $3,000). Your employer will contribute 50% of your first 6%, which would be $1,500 ($3,000 * 50% = $1,500).
In this calculation, option 2 is the "Greater Of". |
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Richard Jackel
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Don't get stuck in all of this. The key phrase in you question is "I don't make barely and money at all but I still think I should start saving" Just put away something. Forget about matching. Save whatever you can afford to. Even if its $5.00 a week just put something away. You are a very young person you have many more years to save. When you make a lot of money you can save more. Please read my profile. If you wish to chat further please send me an email. Good Luck to you!! |
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bigdaddy9965
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save 10% of your ck, and read alot, its amazing how mutch money you will save and if its coming out of your ck you wont miss it |
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jebediabartlett
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Alright, I know how hard giving up even just a little money each payday is...BUT YOU WILL NEVER REGRET IT !! You can look at it anyway you want, but the thing is: saving some for yourself is smart...and getting a " match" from your employer is SMARTER... ( THINK about it...it's like you are making 6% more than someone who" can't be bothered" to save that little bit.)
So sign up for the plan...if at all possible get to that $ 100. a month mark..(.if not, DO WHATEVER..once you get used to a leeetle less it gets easier...it JUST HAS TO BE DONE )
In your question you asked for an example: I'm going to give you a web-site that will show you how much that $ 100. a month will add up to in 38 years...( I know at 22, you think that is a BIZARRE thing to think about...but smart people do!)
http://www.finishrich.com/free_resources/lattecalculator.php?
Even if you move to another job, the 401 can be transferred to your new one...or if that's not possible whatever you have in there can be put into an IRA and just sit there waiting and growing.....THERE IS NO BAD SIDE TO SAVING THIS LITTLE BIT....please do it.
Ask a zillion more questions about where it should go, etc...but just get in.
P.S. I just did your $ 100.00 on that site....it will be $ 480,000. when you're 60.... Nice...but it can be even better.... once you're in the plan... look for the " investments" that are doing well and steer your money that way. That $ 480,000. is at 10%...maybe we can get you 15% !!! Good luck.
All this stuff is not pie-in-the-sky BS...I have a friend who was a cashier at a food chain ( not a big paying job, right?) but we have worked her 401 around in the last few years and she now has $ 943,000. in it...she's 56...got 4 years to go... 4 years ago her fund was less than $ 490.000. If you learn how to move the money ( AFTER YOU SAVE IT ) life can look bright. |
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src50
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You should bother! Now! Starting early will pay you great dividends later. Ask the people at your company to explain the 401(k) to you in greater detail.
If you want to educate yourself on investing, a great book to start with is "Investing For Dummies." There are many good websites that explain retirement saving and 401(k) plans, like:
www.investopedia.com
money.aol.com
Yahoo Finance
to name a few. |
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sandy j
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Even at a young age take advantage of it!! My company matches after 6% so I contributed 7%. So after 1 % is matched. This was a good amount out of my check but in the long run wouth it. You may want to start slow at a lower percent since you are young and then build up the percentage, depending on your situation. |
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voluntarheel
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definitely contribute enough to get the company match for your 401k. Why? Cause its free money. What the company is saying is that if you put $1200 in you 401k (that's $100/month pre-tax) then they will match that amount with $1200 of their money. Or if you put 6% of your salary aside into a 401k they will match that with 50% their money.
You really should take advantage of this its free money and if you start having it deducted from your check you won't miss it. The great thing is its pre-tax money. So if you have $100 taken out each paycheck that's only $75 you would have actually gotten. Why? Taxes. Your tax rate is probably around 25%. So the $100 going into the 401k is pre-tax. The money that you get in your paycheck has been subjected to taxes so you'd only get $75 of the original $100. Sucks, huh? That's why putting it into a retirement fund is a good idea.
So contribute enough to get your company match and each year up your contribution by a percent or so. You won't miss the money. |
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