401k, i want my money.

[Captain Crawfish]

Anyone watching technicals on the s&p? Sky's looking cloudy IMO

[sc281]

Anyone watching technicals on the s&p? Sky's looking cloudy IMO

May we live in interesting times.

[propellerhead]

You don't have to monitor the market or become an instant stock market whiz. Just tell the 401k company to move it to a stable bond fund. They have funds that range from really stable to really aggressive.

Start your reading with "mutual funds". They are the basic hands-off approach to investing. Once you get a bird's eye view, you'll be able to make better choices.

If you cash out now, you'll take a hit that you cannot undo.

[propellerhead]

Also, they are taking a percentage of your untaxed income and putting that into your 401k. You can change that to a smaller percentage, 0 being the lower limit. But if you're not strapped for cash, I would advise against it until you educate yourself on retirement funds. Like mentioned above, social security might not exist when you get to that point. A 401k account is a very good thing to build up.

[propellerhead]

Right now its in a high risk fund and I dont feel like figuring other shit out to fix it when i can just put it in my savings and make safe interest until I do investigation.

It will probably take you one phone call to have them move it to a low risk fund. That's less time, effort and knowledge than trying to cash out. That will be just like moving it to a savings account with safe interest until you can read up some more.

[ceyko]

Not to be....whatever.

However, it's 2K. It's worth playing around with that. Also, it's advisable to contribute what your employer contributes (which is null if they don't contribute anything.) I personally do a little more, because it's hard to guesstimate bonuses...etc. Still, just match what they do, boom! 100% return on your contributions. (Granted, does not mean those will make money - still generally comes out better)

[The King]

abecx,
Does your employer offer any matching funds for your 401K? If so stopping your participation would amount to giving up free money.

[Vertnut]

abecx,
Does your employer offer any matching funds for your 401K? If so stopping your participation would amount to giving up free money.

This is what I told my daughter. They match her to 6%, and after less than 2 years, she has like $16k in her 401k. About $7200 of it is "her" money and the rest is her employers' contribution and whatever funds they have her in. Where else can a 24-year-old double their money without risk?

[Cobraman]

This is what I told my daughter. They match her to 6%, and after less than 2 years, she has like $16k in her 401k. About $7200 of it is "her" money and the rest is her employers' contribution and whatever funds they have her in. Where else can a 24-year-old double their money without risk?

back it up..... We are gonna need pics of that.

[Vertnut]

Not a chance.

[Captain Crawfish]

Put it all in cash go short

[The King]

Like Roscoe posted, if you don't want to actively manage your investment mix put your 401K contributions into a target date fund which will automatically shift your balance into progressively more conservative investments. In the case of someone in their 20's, I would recommend a target date fund of 2050 or thereabouts. If you absolutely need money from it in the meantime, there's always the loan option.

[jw33]

Larry is a white guy, people think he's funny, a real estate investor, who makes a lot of money

Clockin lots off dollars, we all got gold....

[Captain Crawfish]

I'm already googling and wikipediaing shit about index fund, ira's and other crap. This is not how I wanted to spend my friday. Thanks assholes.

Move it into gold.

[Roscoe]

Anacott Steel