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For those that pay into a 401k at your work..
Posted on 2/25/24 at 7:14 pm
Posted on 2/25/24 at 7:14 pm
Do yall spend a few more dollars and have that investment company handle your account or do u pick the stocks,mutual funds, ect yall selves?i have corebridge and they suck..initially they said its only $300 to have the people over in Texas manage your account…i did a little digging and found out its like $2500 i paid in 1 year.
17
Posted on 2/25/24 at 7:33 pm to DeepShot
I do everything myself but that doesn’t mean it’s right for you.
Posted on 2/25/24 at 7:33 pm to DeepShot
Ours is through Vanguard, mine is invested based on my retirement age. I don’t find the fees terrible but I can’t honestly tell you what they are.
Posted on 2/25/24 at 7:39 pm to DeepShot
$2500 is steep for a fee. Not sure what your ROI is or the amount you have invested. If I were you, I’d get a good book or two on retirement finances. Bottom line is you need to know more of where your money is going.
Posted on 2/25/24 at 8:12 pm to DeepShot
My 401k offers very few funds, but they are lower fees than anything I have access to outside of that plan. I don’t pay any extra for management within that program.
Posted on 2/25/24 at 8:18 pm to DeepShot
quote:
i did a little digging and found out its like $2500 i paid in 1 year.
401k investments are capped at $23k for most, so they are trimming over 10% from you every year. That’s a heck of a lot more than a few dollars. There is no way they are beating the general market by 10% if they are working at a brokerage handling 401k advisement (even the best hedge funds are not going to keep up that pace year after year). I’d put it in a broad based market fund until I had time to find out if I wanted something more specific.
Posted on 2/25/24 at 8:34 pm to go ta hell ole miss
quote:
401k investments are capped at $23k for most
Im guessing by the usage of "most" that you know this, but anyway:
"However, the total of your contributions and theirs can't exceed the combined limit as set out by the IRS. The 2023 combined limit for employee and employer contributions is $66,000. For 2024, this limit is $69,000."
This post was edited on 2/25/24 at 8:35 pm
Posted on 2/25/24 at 9:04 pm to GeauxTigers123
Yes, that is one of the reasons I typed “most.”. There is also a $7500 catch-up provision for those over 50. I thought including all of that was overly complicating a side note to the original question, but you are correct.
Posted on 2/25/24 at 9:29 pm to GeauxTigers123
My company gives me the hook up on the ER contribution 
. They do all the investing and I really don't look at the fees.
. They do all the investing and I really don't look at the fees.Posted on 2/25/24 at 10:02 pm to MSTiger33
Some public employees (I’m not one) can rack up if they have 401a, 457, and 403b. I have friends putting away 90k+ pretax.
This post was edited on 2/26/24 at 8:38 am
Posted on 2/25/24 at 10:20 pm to DeepShot
A friend of mine's dad is a very successful financial advisor, and I called him up when I started at my company. His advice has provided a 16% return since my inception so far... He put me on 3 very aggressive mutual funds.
This post was edited on 2/25/24 at 10:58 pm
Posted on 2/26/24 at 5:52 am to Roy Curado
My company uses Fidelity. The only thing they put you in from the start was a, 2055 TRP F (9.79% L5) For the last 4 or 5 years I've put my money in ...
Blackrock Equity Divedend Fund, over the last 5 years avg 12% return
10% of money
Fidelity 500 Index, over the last 5 years avg 19% return
27% of money
Fidelity Contrafund commingaled pool class A, last 5 years avg 15.5% return
12% of money
Fidelity Extended market index fund, last 5 years avg. 8.9% return
31% of money
Other 20% in 2055 TRP. Not investment savvy at all just looked through the few with the highest 10yr+ returns and picked them, can anyone tell me if I'm doing something wrong or maybe a risk I'm missing ? Thanks in advance
Blackrock Equity Divedend Fund, over the last 5 years avg 12% return
10% of money
Fidelity 500 Index, over the last 5 years avg 19% return
27% of money
Fidelity Contrafund commingaled pool class A, last 5 years avg 15.5% return
12% of money
Fidelity Extended market index fund, last 5 years avg. 8.9% return
31% of money
Other 20% in 2055 TRP. Not investment savvy at all just looked through the few with the highest 10yr+ returns and picked them, can anyone tell me if I'm doing something wrong or maybe a risk I'm missing ? Thanks in advance
Posted on 2/26/24 at 6:28 am to DeepShot
Most companies I’ve seen give you a choice of funds. Do some research on different allocations and fit that within what they offer.
Posted on 2/26/24 at 6:35 am to Roy Curado
Well let’s hear the advice
Posted on 2/26/24 at 8:28 am to lynxcat
quote:
I do everything myself but that doesn’t mean it’s right for you.
THIS
Posted on 2/26/24 at 10:34 am to DeepShot
My company 401k is with Fidelity.
I personally use the S&P 500 Index for my 401k
I do it all myself.
2 basis points
Every few years I send everything(401ks, IRAs, 529s, Insurance, etc.) to a financial advisor and pay a flat fee for him to evaluate the whole portfolio. Usually cost me $1,000 every 5 years.
I personally use the S&P 500 Index for my 401k
I do it all myself.
2 basis points
Every few years I send everything(401ks, IRAs, 529s, Insurance, etc.) to a financial advisor and pay a flat fee for him to evaluate the whole portfolio. Usually cost me $1,000 every 5 years.
Posted on 2/26/24 at 5:05 pm to Roy Curado
quote:
He put me on 3 very aggressive mutual funds.
The S&P 500 and the Dow are considered “very aggressive mutual funds?”
What planet is this?
Posted on 2/26/24 at 5:13 pm to Roy Curado
The only “aggressive” fund is the New Horizons fund, and it’s been the worst performer of the 3 I’d imagine. The other is an S&P 500 fund and a large cap growth fund. TRowePrice blue chip growth is a run of the mill 3-star growth fund that’s been your second worst performer in all likelihood.
You’d probably have been better off just buying S&P 500 over that same timeframe.
You’d probably have been better off just buying S&P 500 over that same timeframe.
This post was edited on 2/26/24 at 5:14 pm
Posted on 2/26/24 at 7:59 pm to DeepShot
I manage my own 401k.
I would've made a lot more money letting someone else manage it (even with the fees)
I would've made a lot more money letting someone else manage it (even with the fees)
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