If you use 1% of a salary increase for a 401(k) contribution at the time you get the increase, you will never miss it. And if it’s a traditional plan, you would not have seen all of that 1% anyway, due to tax and FICA withholding
Stock Market & Retirement Planning
If you use 1% of a salary increase for a 401(k) contribution at the time you get the increase, you will never miss it. And if it’s a traditional plan, you would not have seen all of that 1% anyway, due to tax and FICA withholding
IndySC
'16 #TheGrandaddy
This is the way. Each annual raise just goes directly to 401k contribution. Been doing it for years and it makes a monumental impact. Have to be willing to accept no lifestyle creep to make it work.
- Joined
- Jul 8, 2019
- Messages
- 11,995
- Reaction score
- 11,483
- Handicap
- 20.9
My companies stock dropped from an all-time high by 25% the day my blackout lifted. I wasn't planning on selling anything other than $20k for a bathroom remodel. But my blackout went back into effect and it raised back up to within 10% of the same all time high. Crazy part of only having 10 days to trade.
Wonder if Greenspan would describe today’s market as “irrational exuberance”? The ride up is fun but it sure seems like we’re looking at an equity bubble. Time to start looking at mining stocks and bond funds??? 
- Moderator
- #2,181
Little pupper is on a roll. I cashed out half of what I had at 22.7.... did not realize how much that backfired lol. If it drops down again like it should, it’s just like a Fourth of July sale
I’m hoping to be able to buy a Porsche 911 with straight cash by tomorrow at its current growth pace haha
- Moderator
- #2,183
The pace is just absurd. I was laughing with a buddy last night about a dime. He thought it would drop back down, but that it was huge it broke 10. We. Had. No. Idea.
Who would have that that a crypto with zero utility would have a market cap of 40 billion and rising
- Moderator
- #2,186
Who would have thought a currency you can’t hold would be appealing, since its markets never shut down and you can stay up late at night swearing at your phone instead of just doing it 9:30am-4:00pm 5 days a week.
- Joined
- Mar 25, 2015
- Messages
- 15,644
- Reaction score
- 11,012
- Location
- Arlington Heights, IL
- Handicap
- 17
This is going to sound like I'm a smarta$$ but I'm not really trying to be one.
Cost Averaging - Wouldn't want to buy stocks Low and sell High?
Timing the market is really tough - even paid professionals don't get it right all the time.
Buy a little bit on the way down to lower you cost so that when there is a rebound, you are the plus side quicker.
I understand your frustrations - It's a Marathon not a Sprint, in most cases.
You are correct, but I mean I'm just going to wait for things to settle and start the rebound before buying more to cost average. I've bought on the dips but then keeps dipping, so I just need to exercise some patience and look for the start of the upswing so I don't keep wasting my buying power
- Joined
- Mar 25, 2015
- Messages
- 15,644
- Reaction score
- 11,012
- Location
- Arlington Heights, IL
- Handicap
- 17
Nothing wrong with waiting for a little "Market Direction"
- Moderator
- #2,191
Know this feeling. 9:32, let’s open the app aaannnnnnd I’m down. It’s absurd. I can’t wait to just get back to the original buy price, that cash out will be absolutely delightful.
Stocks have been awful for me, crypto has been amazing during the same time.
Doge is strong wth... The pump was real this time.
- Joined
- Mar 25, 2015
- Messages
- 15,644
- Reaction score
- 11,012
- Location
- Arlington Heights, IL
- Handicap
- 17
Greatest Feeling in the world when it happens.
It's like hitting "That Golf Shot" brings you back for more.
Nicegy525
Well-known member
my buddy and I have been enjoying the ride on BTX. I have a feeling we are headed straight for the cliff though.. I may try and exit my position soon.
JZ777
Well-known member
Start putting money in your 401k when start working at 21 and try to max it out when able. Hope for the average annual return in an Index fund of 6-8% and you will retire a millionaire and then some. Easy breezy.
Get rich slow! I like it!
This^
It isn't sexy, exciting, thrilling, flashy or immediate, but it is about the best low risk nearly guarantee you can find. Many companies match as a 50% -100% rate and that's just free money besides the growth rate.
A dual income couple that makes $72k each and saves 10% with a 5% company match starting at age 22 will have about $9,200,00 by age 65. That assumes 2.5% pay increases and a 9% return. The key is starting young, delay saving until age 35 and that nest egg drops to less than $3,000,000.
Retirement Account Contribution Accelerator
Use this calculator to see how increasing your contributions to a qualified retirement plan can help save for your retirement.
www.dinkytown.net