Deaddog Saloon
- Thread starter SSpeckerwood
- Start date
mitdr774
also a dinner prick
I have an annuity that my employer contributes to, when im employed of course. I do have control of how its spread out to an extent. I tend to keep 75% in "safe" funds and split the other 25% between some more risky, but potentially decent gain funds.
I also have a pension (well im supposed to if it is still in existence by then) that is contributed toward by my employer.
Sometimes when we are on a pay freeze and the funds need more money it comes off the check, effectively lowering the hourly rate of pay for us.
I also have a pension (well im supposed to if it is still in existence by then) that is contributed toward by my employer.
Sometimes when we are on a pay freeze and the funds need more money it comes off the check, effectively lowering the hourly rate of pay for us.
Preloader
The M32 Martyr
The mutual funds I spoke of are through my 401.
My employers pay $3/hr worked and contribute an additional $6/hour.
Multiplied by overtime and doubletime when applicable.
It comes out to about 20% of my income. I spread my balance out 85% aggressive/15% low risk. And if I keep an eye on it I can stay in a window of 12% return. If I never made changes, I'd only see an average of 4% by staying in the low risk balanced pool fund.
I'm glad to hear that you guys are taking 401 seriously.
My employers pay $3/hr worked and contribute an additional $6/hour.
Multiplied by overtime and doubletime when applicable.
It comes out to about 20% of my income. I spread my balance out 85% aggressive/15% low risk. And if I keep an eye on it I can stay in a window of 12% return. If I never made changes, I'd only see an average of 4% by staying in the low risk balanced pool fund.
I'm glad to hear that you guys are taking 401 seriously.
ChrisJ
Active member
Lets be serious now.
If he teams up with Danny then all of his money is going to go towards fixing crap. Both on cars and the home so hes never going to retire anyway.
Insanika
Super Moderator
I've got mine setup about 75/25 safe/risky too. I plan on messing around with it more when schools out and I have more time to be into it. I have two setup, one that my employer will match up to a certain % and one that replaces my social security since my hospital opted out. I don't pay social security, I pay the same amount into my own mutual fund account and my hospital matches. So my retirement money is mine. I don't expect there to be any SSI available when I retire.
$ub$onic
The Sticker Guy
True
$ub$onic
The Sticker Guy
I do believe one takes taxes now the other takes it when you pull it out
$ub$onic
The Sticker Guy
I know with my 401 with the traditional one you pay the taxes when you withdraw money and with the Roth you pay the taxes now. Neither one is tax deductible
Preloader
The M32 Martyr
With 401, the tax is deferred. The money you put in comes off of your taxable income, often putting you in a lower tax bracket for that pay period. Score!
Then when you are 59 1/2 you can collect, penalty free, but yes you have to pay income tax on the money you withdrawal.
Then when you are 59 1/2 you can collect, penalty free, but yes you have to pay income tax on the money you withdrawal.
