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401K

August 1st, 2012 at 02:51 am

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

Posted in Retirement | 2 Comments »

2 Responses to “401K”

  1. baselle Says:
    August 1st, 2012 at 03:40 am 1343792405
    1343792405

    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:
    August 1st, 2012 at 03:59 am 1343793562
    1343793562

    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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