View Poll Results: By age 30 how much have you saved for retirement?
$100,000.00 or more
20
13.89%
$25,000.00 to $99,999.00
54
37.50%
$5,000.00 to $24,999.00
38
26.39%
Haven't started a 401k, prayin on social security!
32
22.22%
Voters: 144. You may not vote on this poll
Retirement & 401k's: by age 30 how much have you saved??
01-28-2007, 08:27 PM
#61
Banned
iTrader: (9)
Join Date: Nov 2006
Location: Houston
Posts: 671
Likes: 0
Received 0 Likes
on
0 Posts
I won't say how much but I will say that I've been contributing 10% since 1990. Also, it doesn't really matter what you have in there by the time your 30 but it does matter how much is in there when you retire. 
01-29-2007, 11:41 PM
#62
TECH Regular
iTrader: (9)
Join Date: Oct 2005
Location: Sugar Land
Posts: 488
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by TWS
Absolutely. I intend to enroll in my company 401(k) for exactly that reason. I keep on missing the enrollment periods. 
It's pretty hectic here and there is no match, so I've missed signing up.
It's pretty hectic here and there is no match, so I've missed signing up.You might want to double check on that. You should be able to start saving your 401K anytime. At our company the only "enrollment periods" are for the yearly health insurance plans. You can always change your contributions at any time too whether it be up or down.
J
02-17-2007, 09:09 PM
#70
TECH Fanatic
Join Date: Nov 2001
Location: Katy, TX
Posts: 1,497
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by THE BLACK WIDOW
You might want to double check on that. You should be able to start saving your 401K anytime. At our company the only "enrollment periods" are for the yearly health insurance plans. You can always change your contributions at any time too whether it be up or down.
J
J
Its actually pretty common for employers to setup enrollment periods for their retirement plans. Every employer I've worked for in the past had 2 enrollment periods per year. Many plans also have a time until enrollment eligibility begins, like 6months to a year.
02-18-2007, 08:23 AM
#71
I never want to retire. Therefore, I have zero money saved. I figure I'll just keep buying cars and die with about 200 cars in my name. 
Just kidding, my wife is my retirement plan since she is 8 yrs younger than I am. I get to sit on the couch for 8 yrs retired while she pays the bills.
Just kidding, my wife is my retirement plan since she is 8 yrs younger than I am. I get to sit on the couch for 8 yrs retired while she pays the bills.
02-18-2007, 08:35 AM
#72
10 Second Club
Thread Starter
iTrader: (5)
Join Date: Jul 2005
Location: by my computer
Posts: 2,958
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Nine Ball
I never want to retire. Therefore, I have zero money saved. I figure I'll just keep buying cars and die with about 200 cars in my name.
Just kidding, my wife is my retirement plan since she is 8 yrs younger than I am. I get to sit on the couch for 8 yrs retired while she pays the bills.
Just kidding, my wife is my retirement plan since she is 8 yrs younger than I am. I get to sit on the couch for 8 yrs retired while she pays the bills.
lucky SOB...
BTW fellas...... I did a 4k IRA intended to cut myself a nice tax break last year..... was pissed when the lady said that you have a 401k plan at work and if you wanted the break you should of done it in your wife's Social Security number since she does not have one (she stays at home)....
Just an FYI to yall....... damn gov. provision!!!!!! Wish I woulda known that one.
02-19-2007, 10:03 AM
#73
TECH Apprentice
iTrader: (2)
Join Date: Mar 2006
Location: North Richland Hills, Tx
Posts: 387
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Forteen3GT
lucky SOB...
BTW fellas...... I did a 4k IRA intended to cut myself a nice tax break last year..... was pissed when the lady said that you have a 401k plan at work and if you wanted the break you should of done it in your wife's Social Security number since she does not have one (she stays at home)....
Just an FYI to yall....... damn gov. provision!!!!!! Wish I woulda known that one.
BTW fellas...... I did a 4k IRA intended to cut myself a nice tax break last year..... was pissed when the lady said that you have a 401k plan at work and if you wanted the break you should of done it in your wife's Social Security number since she does not have one (she stays at home)....
Just an FYI to yall....... damn gov. provision!!!!!! Wish I woulda known that one.
I have several clients that have access to 401(k)'s through their employer but do IRA's with me instead because i'm that damn good.
Granted, i'm not a CPA, but they are able to deduct their contributions to their IRA's even though their employer offers a 401(k) because they aren't using it.
02-19-2007, 10:14 AM
#74
10 Second Club
Thread Starter
iTrader: (5)
Join Date: Jul 2005
Location: by my computer
Posts: 2,958
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by TEX02SS
are you actively contributing to your 401(k) at work?
I have several clients that have access to 401(k)'s through their employer but do IRA's with me instead because i'm that damn good.
Granted, i'm not a CPA, but they are able to deduct their contributions to their IRA's even though their employer offers a 401(k) because they aren't using it.
I have several clients that have access to 401(k)'s through their employer but do IRA's with me instead because i'm that damn good.
Granted, i'm not a CPA, but they are able to deduct their contributions to their IRA's even though their employer offers a 401(k) because they aren't using it.
02-19-2007, 10:39 AM
#75
TECH Apprentice
iTrader: (2)
Join Date: Mar 2006
Location: North Richland Hills, Tx
Posts: 387
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Forteen3GT
yeah.... actively using it. They have a 1:1 match up to 6% of your before tax income.
very generous match for sure!
02-19-2007, 10:41 AM
#76
TECH Fanatic
iTrader: (8)
Join Date: Jul 2004
Location: College Station/Pasadena
Posts: 8,182
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Nine Ball
I never want to retire. Therefore, I have zero money saved. I figure I'll just keep buying cars and die with about 200 cars in my name.
Just kidding, my wife is my retirement plan since she is 8 yrs younger than I am. I get to sit on the couch for 8 yrs retired while she pays the bills.
Just kidding, my wife is my retirement plan since she is 8 yrs younger than I am. I get to sit on the couch for 8 yrs retired while she pays the bills.
