401k AND Economic crisis...

[Moe Ghoul]

Do you do your yearly IRA's?

Ira who?

 

[GrilledSteezeSandwich]

Do you do your yearly IRA's?

No..that $2,000 goes to Happy Hour..

 

[hardline]

i have a shit ton of cd and anuities. and i have e few savings accounts. then there is my super secret hidding space.

 

[mattchuck2]

I contribute 10% of my salary to a 401(k) type thing (NY State Workers deferred compensation). I'm 100% in stocks (40% international, 60% domestic). I'm 28 and I'm holding tight.

The only problem with my plan is that the deferred comp doesn't have a match (I get a pension instead). So, in theory, I'd be better off with a Roth, but I don't have the discipline to see money go into my account and then see it come out.

I'm still 100% in stocks, though, and if I had any savings, I'd put that in stocks, too . . . Full Speed Ahead!

 

[Phillycore]

FWIW... I bumped mine up from 8% to 10%

 

[RootDKJ]

No..that $2,000 goes to Happy Hour..

IRA limits are $5K. What about the other $3K?

 

[GrilledSteezeSandwich]

IRA limits are $5K. What about the other $3K?

I always thought it was $2,000...anyway I bought one for 2 grand back in college and it's now worth $1400..lol..uke: People talk about the 9 percent annual increase in the stock market for the past 70+ years but I don't see those increases continuing in the future..I predict the Dow will be below 15,000 for the next decade..

 

[RootDKJ]

It's been going up around $1k a year for a while now

 

[Moe Ghoul]

http://finance.yahoo.com/echarts?s=%5EDJI#chart5:symbol=^dji;range=19990401,20081008;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off

Kinda ugly over 10 years

 

[RootDKJ]

I just looked at my Money file and noticed 2 funds I own actually went up today. Everything else, as expected is down.

 

[ski9]

Seriously it's sad to say but my retirement fund is my Dads company and my future inheritance from my Grandma and parents..

Why is that sad to say? That's the good old fashion American way...someone builds a business, then his/her kids get old enough and contribute to its growth...then the son/daughter takes it over to run or sell. I've heard you being defensive about working in a family business before and I just don't get why...

 

[GrilledSteezeSandwich]

I just looked at my Money file and noticed 2 funds I own actually went up today. Everything else, as expected is down.

I think you need to sell and rebuy in a few months when stuff is lower..

 

[GrilledSteezeSandwich]

Why is that sad to say? That's the good old fashion American way...someone builds a business, then his/her kids get old enough and contribute to its growth...then the son/daughter takes it over to run or sell. I've heard you being defensive about working in a family business before and I just don't get why...

It's more sad that I pretty much just spend what I make every paycheck..and I enjoy working in a family business. My Dad makes way more money with paying my salary than before I joined the company because I'm great at upselling and recruiting/training new dealers and I have alot of empathy. Plus when my Dad retires either in a week or a decade..he'll always have a steady income from the company. I figured when I was in my late 20s..I'd be a bigshot on Wall Street..not selling and pushing around tombstones..but getting out at 3PM-4PM and going skiing afterwork everyday is awesome..

 

[Moe Ghoul]

It's more sad that I pretty much just spend what I make every paycheck..and I enjoy working in a family business. My Dad makes way more money with paying my salary than before I joined the company because I'm great at upselling and recruiting/training new dealers and I have alot of empathy. Plus when my Dad retires either in a week or a decade..he'll always have a steady income from the company. I figured when I was in my late 20s..I'd be a bigshot on Wall Street..not selling and pushing around tombstones..but getting out at 3PM-4PM and going skiing afterwork everyday is awesome..

If you wanna know how it feels to be a Wall Street bigshot, steal all the money from your family biz, run it in to the ground, and then ask for a 8 figure bonus.

 

[Phillycore]

I'd imagine that right now there are a lot of Wall Streeters that wished they were pushing around tombstones right now...

 

[Warp Daddy]

It's I have alot of empathy.


An outstanding quality !!

Steeze working in the family business is a wonderful calling and i'm sure that you bring several talents to the enterprise . Youthful enthusiasm , intelligence and empathy are a dynamite combo . Continue to develop ALL of your potential and both you and teh company and your clients will be enriched in MANY ways .

Use your INTELLIGENCE for GOOD and be a FORCE in others lives