Additional Details I'm in my late 30's and have about 65k in my retirment plan. My company match is 4%, but I invest 10% at this time. I've done that age thing and yes ...
First of all how is it possible that everybody can just sell their stocks at the same time?
Who is buying them?, when they know that they will probably drop even further or are worthless ...
I am 21... should I keep my money in the stock market i have about 70k in value now.. (but i have lost about 30K) My question is should I take the money out and put into cds... Bc of the way the ...
I'm over 40 and have just gotten rid of all my debt except for my house. I'm finally in a position to start saving for my retirement (better late than never). I have money to turbo ...
The cheapest and easiest to use. I am new at this and I just wanted to try investing about $100 dollars, to figure out how this works....
star b
How much should I save?
I started my 401 plan 3 years ago .... I am only putting back 3% my company also matches the same ... should I be putting in more. Let me say this also I only make about 25,000 a year and have two children . What should I do?
Do you have a rainy-day fund? If not, I'd focus on saving money into a rainy-day fund in case you lose your job or your car needs work.
Would the company match more if you put more into your 401-k? If so, try to at least get all the company match. Otherwise, consider a Roth IRA since you probably don't pay any income taxes anyway with two kids and their associated $1000 tax credit. There's no point in trying to reduce taxes in a tax-deferred account if you don't pay any to begin with.
nicetas
If you could save all your income, do it.
wiu
i used to be a financial rep....always try to do the match of course, but on the other hand, don't contribute so much that you dont have any more for your family or anything for emergencies...want to earn more interest, try opening on a savings account over the internet, like with INGDirect.com or MetlifeBank
countess_amalina
Try to put 20% of your salary to your savings first each month. Then you can start to do other things!
Jenny A
You should put in AT LEAST what the company matches. The more you can put in the better. The sooner you start putting in, the more you will have. Try for 10% if you can handle it.
TBor ROCKS
Your best benefit is to maximize the matching investment. If the companies maximun is 6% then that's what you should be doing. That benefits you in the long run - depending on the sability of the company.
Nalliah Kumaraguruparan A
Answering this question as an economics student.
it depends on your countries economical status. but save as more as you can. because the general economic theory is saving is investment.
save as much as you can, and then invest and earn!
robsthings
Depending on how old you are and if you have debt. Suze Ormond recommends that you put the max of what your company matches into your 401K and pay off your dept first. Then once your debt is paid down you can increase. I would poke around her website and books for more formulas etc.
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