The instruments definitely reinvest your gains: that, my friends, is the
magic of "compound interest". And why investing 10% of my salary 'till I
retire will give me (estimated!) 220% of my final salary per year after
retirement. ;^)
As for employer match - you hit the nail on the head there.
At 09:33 8/11/2004 -0400, you wrote:
> One thing I'll add is that when you start taking money out of your 401K,
>you'll have a lower income than you do now, and therefore you'll be paying
>taxes on the money in a lower tax bracket.
>
> The amount you make really depends on the type of investmen
d
of time.
At 10:04 AM 8/11/2004, you wrote:
>Subject: 401k question
>From: Won Lee <[EMAIL PROTECTED]>
>Date: Wed, 11 Aug 2004 08:56:10 -0400
>Thread:
>http://www.houseoffusion.com/cf_lists/index.cfm/method=messages&threadid=13723&forumid=5#124734
>
>401K
>I figure I'll pull 32-35K a year with the trucking deal, start saving for
>wedding and stuff ehehe.
You will be saving for a long time for a wedding at that rate. The average
wedding is slated above 20K and that doesn't include the cost of the rock.
[Todays Threads]
[This Message]
[Subscr
401K Basics
---
brob,
The main advantage of investing in your 401K is that you lower your the
taxable wages. So if you make 35K and you contribute a total of 2K to your
401K plan - then essentially you will only pay income tax on 33K of your
salary. You make an investment with the 2K and
.
You're really going to go drive trucks.
-Gel
-Original Message-
From: brobborb [mailto:[EMAIL PROTECTED]
hehe. actually, I am starting to learn to save money. I was spending
money like crazy with my last job, and really don't have anything to
account for it. Now I realized I
I'm happy.
I figure I'll pull 32-35K a year with the trucking deal, start saving for wedding and stuff ehehe.
- Original Message -
From: Doug White
To: CF-Community
Sent: Wednesday, August 11, 2004 1:08 AM
Subject: Re: 401k question
LOL What do you do with the 90
LOL What do you do with the 90% of your income that comes in every pay check?
No BMW, but a Cadillac Seville, yes! :-)
- Original Message -
From: brobborb
So I'll have to be an old geezer before I can afford a BMW and try to get
chicks? Somethings out of order!
[Todays Threads]
So I'll have to be an old geezer before I can afford a BMW and try to get chicks? Somethings out of order!
- Original Message -
From: Doug White
To: CF-Community
Sent: Tuesday, August 10, 2004 10:37 PM
Subject: Re: 401k question
Only the gain is taxable if you cash
.
- Original Message -
From: brobborb
To: CF-Community
Sent: Tuesday, August 10, 2004 10:18 PM
Subject: Re: 401k question
I read that whenu pull your money out when you're 59 or something, that money
is taxable. So why not just put it in a personal savings account?
[Todays Th
I read that whenu pull your money out when you're 59 or something, that money is taxable. So why not just put it in a personal savings account?
- Original Message -
From: Jim Davis
To: CF-Community
Sent: Tuesday, August 10, 2004 7:03 PM
Subject: RE: 401k question
In e
10, 2004 7:01 PM
To: CF-Community
Subject: 401k question
hey guys I don't really know what a 401k is (and never bothered to look it
up until now). I've read up on it but am still kinda fuzzy about it. Can
anyone show me an example showing real numbers. What I mainly don't
un
Not sure what the advantage from the employer's standpoint is, could be there's a tax break of some sort.
My own 401k example (theory real, numbers not) ;-)
I can invest up to a certain percentage of my salary in my company's 401k program, there are two limits to this, one is percentage (set by t
hey guys I don't really know what a 401k is (and never bothered to look it up until now). I've read up on it but am still kinda fuzzy about it. Can anyone show me an example showing real numbers. What I mainly don't understand is, how does your employer benefit by putting "hi" money into your 40
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