View single post by JB5
 Posted: Mon May 23rd, 2011 02:10 pm
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Joined: Mon Oct 15th, 2007
Location: USA
Posts: 1018
Big Garea Fan wrote: It is going to depend upon the 401K plans being offered by the employer's plan. A lot of your investing strategy is going to depend upon your age (when you are younger, you can afford to take chances; when you get older, you will be more conservative).

My only advice is:

a) if the employer offers a 401K matching program, invest at least enough to qualify for the 401K match

b) if you can afford it, invest as much as you can (up to a maximum of $16,500, can be higher if you are over 50) in your 401K to reduce your tax bill at the end of the year since 401K contributions are taken from your paycheck pretax.

The plans are done through Principal.

My employee does match up to 3%. I was going to invest at least that, but possibly up to 5-7%

Some people are born on third base but go through life thinking they hit a Triple- Barry Switzer.