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| The Scuppers This is a new forum for the not necessarily fishing related topics... |
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03-28-2014, 08:46 AM
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#1
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Not Jack
Join Date: Feb 2009
Location: Other Cape
Posts: 1,239
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I've been trying to max my 401K the past few years. I wasted a few years without contributing- catching up!!
It's fun to play around with the 401K calculators to see the potential in thirty-odd years.
Still need to diversify though- Roth IRA, some mutual funds, maybe some high-risk stocks. I need to speak to a financial adviser.
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03-28-2014, 09:48 AM
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#2
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Registered User
Join Date: Oct 2006
Location: Marshfield, Ma
Posts: 2,150
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Quote:
Originally Posted by JackK
I've been trying to max my 401K the past few years. I wasted a few years without contributing- catching up!!
It's fun to play around with the 401K calculators to see the potential in thirty-odd years.
Still need to diversify though- Roth IRA, some mutual funds, maybe some high-risk stocks. I need to speak to a financial adviser.
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Our government discriminates when it comes to the Roth IRA and many other things for that matter. They exclude people from participating at certain income levels.....
Posted from my iPhone/Mobile device |
"I know a taxidermy man back home. He gonna have a heart attack when he see what I brung him!"
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03-28-2014, 10:42 AM
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#3
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Not Jack
Join Date: Feb 2009
Location: Other Cape
Posts: 1,239
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If I ever make $114,000 a year, I'll probably be able to live without the Roth!
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03-28-2014, 11:22 AM
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#4
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Registered User
Join Date: Oct 2006
Location: Marshfield, Ma
Posts: 2,150
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Quote:
Originally Posted by JackK
If I ever make $114,000 a year, I'll probably be able to live without the Roth!
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The government thinks so as well
Posted from my iPhone/Mobile device |
"I know a taxidermy man back home. He gonna have a heart attack when he see what I brung him!"
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03-28-2014, 02:45 PM
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#5
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Registered User
Join Date: Mar 2002
Location: S. Yarmouth, MA
Posts: 1,604
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This has been a very informative thread so far and made me get off my butt and take a serious look at what if I'm doing the best I can with my retirement savings. I've been with the same company 30 years and started 30 years ago slowly each year increasing the deduction from my paycheck. I just initially picked what co-workers agreed to invest in, and not risky, and let it ride. The problem I'm having is, at 56, after 30 years of dedicated service I think I'm being unceremoniously phased out. I'm scared I'm going to be forced to break the one most important rule about retirement savings I've learned, and that's under no circumstances touch that money for any reason until you retire. My wife and I aren't extravagent in our spending so I'm just praying when the time comes I can find something for a few years just to keep the lights on. I've been thinking about it for a while, but I think a financial advisor is in my future, too, as some others have mentioned.
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Fishing is a... discipline in the equality of men - for all men are equal before fish. ~Herbert Hoover
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