/biz/ - Business & Finance

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Anonymous Sat Sep 21 08:59:16 2019 No.15664324 [Reply] [Original]

So i just started a new job and after 3 months i can do 401k, which I signed up Last week. My company has a plan which I picked. Do I need to do anything else? Like do I need to pick whay my 401k invests in, or is all that in the plan and I don't need to do anything.

>>	Anonymous Sat Sep 21 09:02:30 2019 No.15664345 >>15664324 thanks for that video, nice way to start the day

>>	Anonymous Sat Sep 21 09:02:39 2019 No.15664346 File: 1.66 MB, 320x400, 1556391669815.webm [View same] [iqdb] [saucenao] [google] >>15664324

>>	Tentanon Sat Sep 21 09:03:51 2019 No.15664353 >>15664324 Your company makes money off that and only pays you a small percentage. That's why they match up to a certain amount. Your better off investing the money yourself. Pick blue chip stocks if you dont want gamble

>>	Anonymous Sat Sep 21 09:05:20 2019 No.15664361 >>15664324 is she dead?

Anonymous Sat Sep 21 09:08:01 2019 No.15664376

>>15664324
Yes you have to select your own investments. Most of them are funds with a target retirement date (2040, 2050, 2060, etc) the further you are from retirement the riskier the investments are. 401k is worth it if your company matches a % but your timing is bad since we're going to enter a global recession in 2020.

>>	Anonymous Sat Sep 21 09:08:13 2019 No.15664379 >>15664346 Lmao niggers are great entertainment

>>	Anonymous Sat Sep 21 09:11:44 2019 No.15664397 >>15664324 Dude just do 401k for 50 years bro

Anonymous Sat Sep 21 09:13:35 2019 No.15664405

>>15664376

What he said. Also, check the expense ratio and don't select a fund that has an expense ratio over 1% because that's way too much. But, we're on /biz/ so be ready for 200 posts of "LMAO ur 401K is a scam but my Get Rich Quick Tokens will moon any day now."

>>	Anonymous Sat Sep 21 12:00:14 2019 No.15665431 >>15664397 lmfao this. OP is fucking retarded. >when the markets tank, most 401k's get wiped out

>>	Anonymous Sat Sep 21 12:04:00 2019 No.15665461 >>15664324 >he feel for the 401k meme

>>	Anonymous Sat Sep 21 12:18:56 2019 No.15665576 >>15664346 LET THEM IN! LET THEM IN!

>>	Anonymous Sat Sep 21 12:20:20 2019 No.15665583 >>15664397 not contributing to a 401k up to your companies match is straight retarded.

>>	Anonymous Sat Sep 21 12:24:18 2019 No.15665608 Did she died?

Anonymous Sat Sep 21 12:30:00 2019 No.15665633

Question - Roth 401k let's you remove your contributions to the account with no penalty. You cannot remove your employer's contribution, that would be penalized, but your own contributions can be removed.

So what's stopping someone from just contributing the highest their employer will match and then withdrawing their own contribution every paycheck and leaving their employer's contribution in?

>>	Anonymous Sat Sep 21 12:32:21 2019 No.15665653 >>15665633 nothing

>>	Anonymous Sat Sep 21 13:10:52 2019 No.15665975 >>15665633 >>15665653 Wait, what? This seems too good to be true. Is this real?

>>	Anonymous Sat Sep 21 13:48:20 2019 No.15666249 >>15665975 Bump

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