Stock Market & Retirement Planning
Martsy
New member
I've just got a 401K right now, been putting in atleast the 6% match my company offers since 2002, and it's doing ok. Have too much higher interest debt right now to make sense in investing else wise. Need to pay that off over the next 24 months, then i'll probably consider some other investment avenues.
evand23mc
Master of my own Domain
THPers, if you do nothing else, at least make sure you are contributing enough to your 401(k) plan to max out your employer's match. Free money, if you aren't doing this you need your head examined. Even if your employer does not offer a match, please consider putting something away. Young THPers, start early, if you skim 10-15% off your pay now and put in a 401(k), you won't miss it. Don't be fooled into thinking that you are young and have plenty of time to save. I am not an investment guy, but I am a CPA who sees plenty of sad stories, particularly this time of year. The more you save now, the more you have to spend on golf when you retire!
dhartmann34
Well-known member
It's my life after golf. I do it for myself and for many others as my job. I've been in love with the markets and investing since high school. In reality, it's actually a psychologist job more than anything. That's what clients need and that's why so many individual investors do so poorly with their own investing...they let emotions get involved.
For myself, I've got my 401k at work (wish I had a roth 401k option), a roth and traditional IRA...although I only fund the Roth these days.
Just LOVE all this stuff
For myself, I've got my 401k at work (wish I had a roth 401k option), a roth and traditional IRA...although I only fund the Roth these days.
Just LOVE all this stuff
dhartmann34
Well-known member
529's are okay as long as people can fund them with a decent chunk of change and the fees are not too high. You can get a state tax write off depending on which plan you're putting into and if the state allows the write off. There are a lot of plans out there that you're paying high up front costs and quarterly costs as well which in turns doesn't make a lot of sense for a lot of folks. We usually tell our clients that if you're not investing at least $200/m into the 529 plan, we'd rather see it invested another way....depending on their situation of course.
I've seen some SHADY things out there with college planning. Certainly have to stay alert and aware.
Speedliner
Active member
We have 529s. No indictment against them. His comment was just to not increase contributions at this point, but to increase other tax-deferred options that were more flexible. It's on the list of topics for the next session to discuss in more detail.
Arkie_3_fan
Active member
I have worked my way up to a 20% contribution in my company's 401k and my company matches 6%, plus my wife and I have a share builder account that we try to contribute to fairly regularly.
We also have approx. 88 acres of land with the majority of it being young timberland, and one residential propertly that we will rent once construction on our new home is complete.
Hopefully it will be enough to keep me from having to work till I'm 80.
We also have approx. 88 acres of land with the majority of it being young timberland, and one residential propertly that we will rent once construction on our new home is complete.
Hopefully it will be enough to keep me from having to work till I'm 80.
staticline
New member
Can the 529 $$ be used for out-of-state schools? I thought 529's were state specific and the funds had to be used towards an in-state school?
dhartmann34
Well-known member
529 Can be used for any college. You can also change the beneficiary so if one person doesn't use it for college, another person can.
There are some state specific pre-paid college plans...but those are not 529 accounts.
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- #86
ELY continues its rise. Up to 10.34 today.
dhartmann34
Well-known member
tucsondivots
Fairways and Greens
I retired 16 months ago. 40+ years of contributions to 401K, along with company match of 25%, which was rolled over into an IRA with a 60/40 mix of stocks and bonds. I have a financial manager that I meet with twice per year. Not 18% ROI (!), but still making solid gains. I am fortunate to not have to rely on my savings since I collect from two pensions and Social Security. House is paid off and no credit card debt has allowed me to do all the things I dreamed of doing with my wife of 42 years. And a lot of golf. There were a couple of big hits to the stock market over the past 30 years that have been hard to recover from. I am encouraged that so many of the younger THPers have solid plans to save.
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- #89
A lot of reasons, but namely the turn around of the company. In the 4th quarter last year they were predicted to lose 8 million. They made 3.5 million. 1st quarter has shown huge increases with the launch of their new products. The best part is, that part has not shown up yet, but the recent surge is because Top Golf is a darling of some investors and Callaway is involved.
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- #91
I try to listen to the financial calls of most of the industry (if they have one) and that one was one of the best I had heard to date. Talk about a turn around.
dhartmann34
Well-known member
I'm lucky enough that I will have a pension when I retire at 55 that will pay 60% of my final average salary. I also put 10% of my salary into a 457 Deferred Comp plan that will be tax free in/tax free out for NYS purposes once I reach age 59.5.
And when I run out of all of that money, I'll start selling off the 3,400 golf clubs sitting in my living room. And then buy lottery tickets and scratch-offs.
And when I run out of all of that money, I'll start selling off the 3,400 golf clubs sitting in my living room. And then buy lottery tickets and scratch-offs.
Barberakb
USAF / Go Cowboys!
Remember that you don't have to understand it to make money off of it.
Barberakb
USAF / Go Cowboys!
I've been doing pretty good about saving in the past.
Which is good because my wife is about to quit her job since our second child is due in July.
It will give her some much needed time off with the kiddos but will cut our paychecks by about 40%.
So I will have to ramp down the savings soon.
I have a roth IRA and a 401k. Unfortunately my 401K doesn't match anything...
The military TSP/401K doesn't match. Never understood that.
Luckily though I don't have to save for my kids college. I have the GI Bill that I can now transfer to them if I want.
I have been in the air force for 15 years so in 5 more I will be eligible for retirement.
It's not much as an enlisted guy, but it's better than nothing. And at 41 years old, I will have plenty of working years left.
I will also have medial care covered for life at a much lower rate then most.
I dabble a little bit in stocks/mutual funds through Vanguard but I hardly ever sell. More of a buy/hold guy.
That can be good and bad but it really helped me out in the last couple of market crashes because I didn't bail out and loose a lot of money.
I'd like to retire by age 60. Right now I think Im on track for that.
Which is good because my wife is about to quit her job since our second child is due in July.
It will give her some much needed time off with the kiddos but will cut our paychecks by about 40%.
So I will have to ramp down the savings soon.
I have a roth IRA and a 401k. Unfortunately my 401K doesn't match anything...
The military TSP/401K doesn't match. Never understood that.
Luckily though I don't have to save for my kids college. I have the GI Bill that I can now transfer to them if I want.
I have been in the air force for 15 years so in 5 more I will be eligible for retirement.
It's not much as an enlisted guy, but it's better than nothing. And at 41 years old, I will have plenty of working years left.
I will also have medial care covered for life at a much lower rate then most.
I dabble a little bit in stocks/mutual funds through Vanguard but I hardly ever sell. More of a buy/hold guy.
That can be good and bad but it really helped me out in the last couple of market crashes because I didn't bail out and loose a lot of money.
I'd like to retire by age 60. Right now I think Im on track for that.
Erky
New member
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One great thing about the military is that's it's one of the few places these days that pays a retirement pension, which is a great alternative to a 401k contribution. I would have retired last January if I had stuck it out.
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- #98
GrubHub IPO today. It might be me, but i just not get it and dont think this is a long term profitable thing.
I have a 401K through work and my company matches half (3%) up to 6% of my salary. I give a bit over 6% and they match with Cerner stock which has done extremely well since I joined the company.
