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July 31st, 2012 at 07:51 pm

I just recently started contributing to my 401K. My company matches 6% so that is what I put in. I am enjoying watching my account grow. I met with a financial advisor earlier in the year and I am greatful that I did. Still need to set up a Roth IRA!

Balance April 2012 $3,493.52
Balance June 2012 $4,963.22

Net change in Market Value $1,469.70

2 Responses to “401K”

  1. baselle Says:

    Fantastic - wish my employer ponied up 6%. Just 4%, and you have to put in 8% to get it.

    Only thing to tweak is if the employer gives you 6% in company stock. You'll want to look at how long you have to hold it, what your options are to sell it, etc. You want to keep the proportion of company stock low. Too much company stock doesn't balance out your risk - if the company tanks, the stock price tanks AND you can lose your job.

  2. snafu Says:

    Just so you know...it's recommended that employees contribute 12% of salary to their retirement plan, not counting employer's contribution. It's important to know what your retirement plan holds, fees & percentage of equity to bond.

    In the last century when defined pensions were typical, 12% was withheld as retirement contribution.

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