401k-Holding fast but..........

[MossRoad]

That would be Mario the pool boy in a speedo.....

Hey, I used to be that guy! When I was in college at the local I.U. extension, my friend and I were lifeguards. Pretty healthy specimens at the time. :laughing: About 2/3 of the classes were filled with 30ish year old divorced women going back to school to get a degree. They'd take us to the local pub for lunch and buy us underaged boys beer while we ate lunch and discussed English literature. :laughing: Nice ladies. No hanky panky, as both of us had significant others (we both ended up marrying our high-school sweethearts), but they sure liked looking at us. :laughing:

Today, that would not be the case. I look like this guy --> :dance1:

Bald and round.

 

[riptides]

Yes, it's over time. We're in it for the long haul. If I live to be 100, I'll still have enough money to leave something for my kids/charities. If I croak tomorrow, I hope my wife's new boyfriend will appreciate what I did with her financially. Hopefully he likes tractors and fishing. It would be a shame if he didn't

LOL.

Our adviser and I met right before the turbulence, had to move some stuff around. We we started projecting stuff out, there was no way I was leaving dollars on the table.

Trusts and Charities. along with the kids are now applicable.

 

[riptides]

That would be Mario the pool boy in a speedo.....

Hmm... I wore a speedo once upon a time. Some stuff has shifted around. :shocked:

 

[Richard]

My new employer's does, so all my contributions and their matching goes there.

The matching probably doesn't go in there.

The match dollars have (likely) not had the taxes paid by your employer.... YOU haven't paid any tax on the match dollars. Therefore, they can not by definition, go into the Roth account.

If your account has a "balance" link, go look at it. You will have a value for your Roth contributions and a value for your employer match. The match dollars will be taxable.

 

[MossRoad]

The matching probably doesn't go in there.

The match dollars have (likely) not had the taxes paid by your employer.... YOU haven't paid any tax on the match dollars. Therefore, they can not by definition, go into the Roth account.

If your account has a "balance" link, go look at it. You will have a value for your Roth contributions and a value for your employer match. The match dollars will be taxable.

Thanks!

 

[Jstpssng]

401Ks are stupid, we should go back to employer funded pensions. Look at how well those are working out in the last couple of decades.

 

[Richard]

Why not have them both and diversify!!!

 

[MossRoad]

I had one at my first employer. It got frozen after 19 years of service, back around 2008. So I had a pension, a 401K and an IRA. Very nice. At my current employer, they just eliminated the pension, so I was not eligible to get into it. They do have a very generous 401k, though, so I rolled my old 401K into the new 401K. Then a few months ago I got an offer from my old employer to do a one-time lump-sum payment to settle my pension. I opened a pension rollover account (or something like that) and took the money.
It was not great.
It was not horrible.
It was exactly fair.

Well, that kinda stinks. :laughing:

Anyhow, that one is still sitting in cash, because I was debating on what to do with it. Kinda nice to see at least one investment not loose over the last couple weeks.

 

[caver]

A few years before I retired my employer wanted to dump the pension for any new hires at contract renewal (IBEW). Instead they would get a better 401K than what we had. Our pension was through the NRECA. Our CEO said they wanted to slowly get out of the pension thing. We could have been fed a line either from him or union leaders. I meant to ask NRECA about this but always forgot.

 

[Jstpssng]

My comment earlier was prompted by the number of times I've seen companies fold, leaving their employees and/or retirees holding the bag; or conveniently found reasons to terminate long term employees just before they are eligible for retirement. At least you have some control over a 401k, including how much you pay in and how much risk you are willing to take.

The Dow went up almost 2000 points today, hopefully it wasn't just a last gasp.