401k, Roth IRA and other Investment

Discussion in 'Audio Emcee Hook Ups' started by 6th Cents, Sep 9, 2013.

  1. 6th Cents

    6th Cents Member

    Oct 30, 2012
    who are doing it and what your average % rate of return from this? how much you guys put in a year for each? wish I had started earlier.. any other investment (long term) I should consider? I'm going to do both. Put 3k a yr in 401k and Max out my IRA. Any advice? @J o o k @Bad Dude @B whun @Webz_Creationz
  2. Webz_Creationz

    Webz_Creationz Shutin' Shit Down

    Nov 7, 2010
    I have a traditional IRA, but my employer doesn't offer any match or anything like that. I just do it as fuck around, rainy-day type fund, even though I can't withdrawn until I'm 59. I'm limited to $5500 per year, and I just dump the full amount in every January.

    If you can afford it, it's not a bad idea to max it out, as it's a good forced-savings that you can't easily withdraw from until you reach retirement age, and I know there are some beneficial tax implications like not having to pay tax on the appreciation. Also, if you don't need the money when you are eligible to withdraw, you can roll it over into some other type of investment fund without having to pay taxes on it as well, and just draw interest from it every year.

    I think overall, not enough people plan for the future, and this social welfare state that we have developed into is only going to last so long. Stock up on money for retirement, and guns/bullets so you can defend what you have.

    Personally, my 457b is my best account, aside from my pension fund. I have a few hundred grand already accumulated, and I am still planning on working another 20ish years. I max that out, at the current annual rate of $17,500 per year. That account up like 30-something percent this year because the market has been crazy. If you are able to participate in a 457b, I would definitely take advantage of that. It lowers your annual tax liability by investing the money pre-tax, and it allows you to invest more since you aren't paying taxes on the principal first. The only thing that sucks is that you have to pay taxes on it when you withdraw. The idea is to be in the lower tax bracket, since you will be retired. Another benefit is that you can withdraw that money upon separation from the company. So, if I were to quit or get fired, I have a really nice chunk of money in my pocket to cover living expenses until I find another job.

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