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re: Advice wanted on employee stock ownership plan
Posted on 4/9/14 at 11:02 pm to Brummy
Posted on 4/9/14 at 11:02 pm to Brummy
quote:
My company offers an ESOP with with a 15% discount on market price. I already max out my IRA and contribute to the 401(k). I want to make sure I keep my retirement funds diversified, but I feel like I'm missing out considering the discount. How much would be a good amount to contribute, if any? I'm considering 1%. The company is a very old, very large international engineering firm so a long term drop in the stock price would be fairly unlikely. Any advice would be appreciated. TIA.
Damn how many people on here work for CBI?
2
Posted on 4/9/14 at 11:04 pm to FootballNostradamus
To answer your question, though, I'd contribute as much as they'll allow you. Unfortunately you're buying at a time when CBI's stock is the highest it's been in its company's history so not exactly the best time to enroll, but you should be solid.
I will tell you, however, that construction is very cyclical from a financial standpoint. This will need to be a longterm hold or you're gonna drive yourself crazy. There's also a two year minimum or you forfeit the 15%.
I will tell you, however, that construction is very cyclical from a financial standpoint. This will need to be a longterm hold or you're gonna drive yourself crazy. There's also a two year minimum or you forfeit the 15%.
Posted on 4/11/14 at 3:13 am to FootballNostradamus
quote:
Damn how many people on here work for CBI?
I would imagine quite a few used to work for Shaw who just got bought out by CBI.
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