Well, how much do you have in your 401K and how old are you?

Discussion in 'Industry Veterans' started by Anonymous, Nov 5, 2009 at 5:50 PM.

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  1. Anonymous

    Anonymous Guest

    I totally disagree with everything you stated.

    You can't deny that CEO pay went way up in the 1980s due to the invention of the 401k, because that is a fact.

    Its common sense. When Wall Street is throwing incentives to the middle class to invest or save for retirement or whatever, you have to take notice, and run the other way. Because they are crooks and do not have your best interests.

    Its was just a scam to separate people from their money.

    You are a parrot.

    Get lost.
     

  2. Anonymous

    Anonymous Guest


    Again, you comment on CEO pay going up because of 401K's is not only stupid, but it is wrong. You have stated that CEO's and upper management can take people's 401K's which is wrong. Further, you can see the sources of CEO's income when you read the various proxy states for companies.

    Since CEO's and upper management also put their own money into 401K's, they have a vested interest in making sure good funds are selected.

    All you are doing is just telling a bunch of lies that have no factual basis.
     
  3. Anonymous

    Anonymous Guest



    By the way, did you know that many in the middle class are idiots like you? Many do not put enough into 401K's to get the full match. In fact, liberal idiots like you want to take away 401K's because they think it favors the rich more since they figure the rich have more money to put into 401k's and can take advantage of the tax deferral benefit. Clearly, liberals know that people can get rich by putting money into to their 401K's and they want to take it away.
     
  4. Anonymous

    Anonymous Guest

    By the way, here is a little factoid for you:

    http://www.thedigeratilife.com/blog/index.php/2008/11/13/is-your-401k-account-safe-investment/

    Note the following:

    There is a federal law called the Employee Retirement Income Security Act (ERISA) that protects our 401k savings and other self-directed pension plans from financial loss and damages due to problems attributed to the trustee of the retirement plan. The law establishes the rules which retirement plan trustees need to abide by. So if a person or fiduciary commits fraud or goes bankrupt, your funds will be recoverable.


    So, now, let's see you links to proxy statements and other financial statements showing us how you think CEO's and other upper management people are taking people's 401K to boost their pay.......tick, tick, tick, tick...........
     
  5. Anonymous

    Anonymous Guest

    Laws?

    Come on. You are so naive. Laws change to suit the needs of those in power. This law is there to give the illusion that your money is protected.

    In reality, it is designed like a con game to get more people to participate.

    I am not trying to be a jerk here, but to just get you squares to think differently and to challenge the status quo.

    Its like those kids that go off to the military, thinking that they are protecting our freedoms, but in in reality are only there to protect the interests of capitalists (read Butler, War is a Racket). This is a good example that I give, because how many people do you know really know the truth about our great military...

    and how much easier is it to fool 401k participants in stupid corporate America.
     
  6. Anonymous

    Anonymous Guest



    The only way people will think the way you do is if they come down with a mental illness and are separated from reality.

    I notice that you can't provide links to show how CEO and other upper management are getting their income from other's 401K's.

    Secondly, if these 401K's were raided by CEO's and upper management, explain how the funds could then be rolled over to IRA's upon departing a company. If these funds were raided, as you are contended, how did the money magically appear when shifted over to an IRA.

    Third, explain how the adminstrators of the funds would be able to conspire to the raiding of the funds (as you contend).

    Fourth, explain how the auditing firms would conspire to overlook the raiding of these funds.

    Fifth, you say the laws are changed to suit those in power. Provide the link to the laws passed that you say allow CEO's and upper management to take the 401K funds.




    I think you have even gone beyond the Alex Jones crowd with your silly positions.
     
  7. Anonymous

    Anonymous Guest

    Well I can see that the trolls have worked hard to ruin another thread. Can we get this back on track?

    55 yo
    1.3m in IRAs and current 401k
     
  8. Anonymous

    Anonymous Guest

    Lucky bastard. . .

    54 years old
    320 401k
    65 savings
    300 equity in home
    150 other investment
     
  9. Anonymous

    Anonymous Guest

    49 years old

    750k in retirement accounts
    380k in after tax investments
    700k home equity (mortgage paid off)
     
  10. Anonymous

    Anonymous Guest

    31 Male
    52K Salary

    $21K - 401K
    $15K - Roth IRA
    $32K - Inherited IRA
    $265K - Managed Portfolio
    $42K - Stocks
    $500.00 - 529 Plan
    $2K - Checking

    $6K in Debt

    I save on average 14% - 18% of my income depending on the months.

    I plan on retiriing when I am 62 years old, please let me know if this is feasible?
     
  11. Anonymous

    Anonymous Guest

    You have enough of a base. Provided you have a properly allocated portfolio and keep expenses low, you should be in great shape. Start reading books by Wiliam Berstein on portfolio allocation. Stick with funds like Vanguard and DFA to keep expenses low. Also, do you have an emergency account? If not, work towards getting 40-50K in a money market account. That will keep you from having to raid your investments if you get in a jam. Since you have a 529, I am guessing you have at least one child. If so, do you have enough term life insurance? Do you have an umbrella insurance policy in place? Remember to protect yourself from things that could cause a financial disaster.
     
  12. Anonymous

    Anonymous Guest

    Originally Posted by Anonymous

    31 Male
    52K Salary

    $21K - 401K
    $15K - Roth IRA
    $32K - Inherited IRA
    $265K - Managed Portfolio
    $42K - Stocks
    $500.00 - 529 Plan
    $2K - Checking

    $6K in Debt

    I save on average 14% - 18% of my income depending on the months.

    I plan on retiriing when I am 62 years old, please let me know if this is feasible?


    You are doing well with your investments. Look at it this way,-if you never contribute another dime to your 401k/Roth/IRA/Mgd Portfolio you could have $$1.9M at age 62 if you could earn a 5.5% return. A nice sum. Now, over the next 31 years $1.9M will lose alot of spending power. But since you plan to continue saving significantly moving forward you should be in good shape. Nice job and good luck
     
  13. Anonymous

    Anonymous Guest

    Honey, if you are only 31 now, there is no way your are still going to be here when you are 62, so don't worry about it. This industry is not what it used to be, and the retirement "plans" that they lay out in front of you are an illusion for 999 out of every 1000 employees in the next 31 years....
    Good luck however.
     
  14. Anonymous

    Anonymous Guest

    If you can't figure out how to maximize your retirement account, perhaps you should be taking some basic financial planning classes. My guess is that you are expecting your buddy Obama to be handing it to you on a silver plate.
     
  15. Anonymous

    Anonymous Guest

    34 and $147,600.
     
  16. Anonymous

    Anonymous Guest

    Wish I had saved more when younger and learned a LOT more about investing and retirement.

    54
    single
    340k equity in home
    320k in retirement
    70k in checking/savings
    50k in IRA
    200k in other real estate

    debt: 90k on mortgage
    pension: only 8k annually
    SS:29k annually

    I am worried shitless.
     
  17. Anonymous

    Anonymous Guest

    Scared of what?
    Pay off the house, first. Then all other debt.
    What do you have a coke habit or something?
     
  18. Anonymous

    Anonymous Guest

    He should be scared. Even with a paid off mortgage, he is far short of what he needs to retire, unless he plans to sell off the house (for the equity) and spend his days in the trailer park.
     
  19. Anonymous

    Anonymous Guest

    No shit. I have resigned myself to just working until I drop or dying young. There is no way to make up too much bad luck, medical bills, legal bills, two divorces and lack of savings (no coke habit). My only debt is the mortgage and nothing else. BTW, I do realize that most of America has less than 60k saved for retirement by age 50. So, on that level, we should be grateful.
     
  20. Anonymous

    Anonymous Guest

    Poor guy, 2 divorces will kill you.

    I'm 38 and have $205,000 in my 401K. (My pharma pension is at about $15K a year now)
    My husband is 43 and has $174,000 in his 401K

    I have 200K in equity with 6 yrs left on my mortgage.