/biz/ - Business & Finance

[Anonymous No.774563]

My 401K is down 28 cents from last month.

Am I going to go bankrupt?

[Anonymous No.774565]

>Worrying about month to month changes in long term investments

[Anonymous No.774567]

>>774563
What exactly is a 401k?

[Anonymous No.774573]

>>774567
You take part of your salary each month pre-tax and invest it into the stock market.

It's usually worth it because your employer will match your contribution up to a point. It's like getting a 3% raise (that you can't touch for a decade or two).

[Anonymous No.774575]

>>774567
>What exactly is a 401k?
A qualified cash or deferred arrangement ... which is part of a profit-sharing or stock bonus plan, a pre-ERISA money purchase plan, or a rural cooperative plan ... under which a covered employee may elect to have the employer make payments as contributions to a trust under the plan on behalf of the employee, or to the employee directly in cash;
(B)under which amounts held by the trust which are attributable to employer contributions made pursuant to the employee’s election—
(i)may not be distributable to participants or other beneficiaries earlier than—
(I)severance from employment, death, or disability,
(II)an event described in paragraph (10),
(III)in the case of a profit-sharing or stock bonus plan, the attainment of age 591/2,
(IV)in the case of contributions to a profit-sharing or stock bonus plan to which section 402(e)(3) applies, upon hardship of the employee, or
(V)in the case of a qualified reservist distribution (as defined in section 72(t)(2)(G)(iii)), the date on which a period referred to in subclause (III) of such section begins, and
(ii)will not be distributable merely by reason of the completion of a stated period of participation or the lapse of a fixed number of years;
(C)which provides that an employee’s right to his accrued benefit derived from employer contributions made to the trust pursuant to his election is nonforfeitable, and
(D)which does not require, as a condition of participation in the arrangement, that an employee complete a period of service with the employer (or employers) maintaining the plan extending beyond the period permitted under section 410(a)(1) (determined without regard to subparagraph (B)(i) thereof).

[Anonymous No.774589]

>>774573
>>774575
Wow, thanks. If this was any other board I would've gotten.

>how new are you?
>why are you even here?
>fuck off

Why is the maturity of this board so great?

[Anonymous No.774594]

>>774589
a better question is why are you too retarded to look up what a 401k is? it took more effort to make a post about it than it would have to run a search on google.

[Anonymous No.774607]

>>774563
stop getting them high fee managed funds?