WorldBench Posted December 12, 2007 Share Posted December 12, 2007 I've been putting in at minimum 150$ a month in my 401k for 3 years (for 1 year it was like 300$) 12*3 = 36 * 150 = 5400 i called my 401k place a few months ago, they said there was only 3300$ in it. this 401k said they'd match what you put in it. so how is it at 3300$ a few months ago when it should be roughly 5400$ at minimum. in all actuality it should be somewhere like 7000$ with just my money. anyone know how these work exactly? Quote Link to comment Share on other sites More sharing options...
Seffiks Posted December 12, 2007 Share Posted December 12, 2007 http://www.401khelpcenter.com/Employee_index.html thank you come again Quote Link to comment Share on other sites More sharing options...
WorldBench Posted December 12, 2007 Author Share Posted December 12, 2007 I read all the basics, I still don't understand where 2000$ went. I guess I'll call them up later today to figure this out. that's pretty crazy Quote Link to comment Share on other sites More sharing options...
Guest shai_hulud Posted December 12, 2007 Share Posted December 12, 2007 ^That's what I would do. Quote Link to comment Share on other sites More sharing options...
H. Lecter Posted December 12, 2007 Share Posted December 12, 2007 Factor in inflation~ biggest factor in long term growth - as for what happened to the money, I'd one, track off of my chits and receipts for payments.. and ask for printed accounting of your contributions.. and statement history. two, contact the employer who said they'd be matching or 50%ing.. make sure they did'nt agree this to another 401k.. and three.. make sure that this is the only 401k that you have.. many times people forget about these things or never realize that they've switched or opened a new one when changing employers~ I've had clients who've "found" ridiculous amounts of unexpected money this way~ Quote Link to comment Share on other sites More sharing options...
H. Lecter Posted December 12, 2007 Share Posted December 12, 2007 P.s. http://www.americanfunds.com/default-home.htm http://www.americanfunds.com/default-home.htm http://www.americanfunds.com/default-home.htm http://www.americanfunds.com/default-home.htm http://www.americanfunds.com/default-home.htm http://www.americanfunds.com/default-home.htm Quote Link to comment Share on other sites More sharing options...
WorldBench Posted December 12, 2007 Author Share Posted December 12, 2007 nah it's the only 401k I have. I guess my best bet is contacting them. maybe they were mistaken last time or something. and all my payroll logs i have, it all shows me contributing to the same 401k Quote Link to comment Share on other sites More sharing options...
H. Lecter Posted December 12, 2007 Share Posted December 12, 2007 Definately get all of your paperwork together and make demands.. if you don't hear whats right don't be afraid to show (or exagerate) your frustration.. There is a whole pyramid system at the call centres of these companies.. some one will eventually help you get what you want.. And if not the first try.. hang up and call back~ There must be something wrong, unless that is, this 401k was all fixed income or CMO's.. based on mortgages or horrid stocks.. but to lose 50% is a long shot, even with things as they are~ something's missing~ good luck Quote Link to comment Share on other sites More sharing options...
Harvey Wallbanger Posted December 12, 2007 Share Posted December 12, 2007 H- PM me. Quote Link to comment Share on other sites More sharing options...
~KRYLON2~ Posted December 12, 2007 Share Posted December 12, 2007 i just got a 401k at my job, i just know its a good idea to have one if you ever plan on retiring Quote Link to comment Share on other sites More sharing options...
H. Lecter Posted December 12, 2007 Share Posted December 12, 2007 It's a great thing any which way you look at it~ Even if you're not "working".. an IRA is a must~ Add $50 a month for the next 30 years and you'll have a really nice chunk of change~ the only thing about taking it when youre old is that in the US after the age of 59 it's nearly tax free .. well, the tax on the interest gained is deferred/delayed until youre 59.5 or whenever you cash it out after then~ Another great idea along those lines is just opening a mutual fund account with dollar cost averaging.. open at a minimum of $250, then add 50$ a month to that.. The dollar cost averaging is the company putting these incriments into sales at the most oppourtune times.. when things are "down" / "on sale"... you'd be suprised how much of a difference that can make.. and you can actually have a reason to get excited for good rather than bad when the markets take a "correction" or dip~ That chart posted is a pretty fair representation of what putting a little bit away for a long time can really get you~ An early retirement/ late career change is more than possible if you make the right moves young! (my plan! hahah I'm trying to bail out of the suit in about 15 years and push the money I've got saved up into a bed&breakfast hotel somewhere nice) I use American Funds (link I posted before)~ They're really the best thing out there~ 7 of the markets 10 strongest funds Quote Link to comment Share on other sites More sharing options...
lord_casek Posted December 12, 2007 Share Posted December 12, 2007 hell, invest in gold right now. it's going up and up and up. our dollar is being devalued, so precious metals are booming. Quote Link to comment Share on other sites More sharing options...
Pistol Posted December 13, 2007 Share Posted December 13, 2007 401's are for chumps. 457B I got two 457B's and i'm about to get a third with CalPERS. CalPERS is supposed to be the shit. They got minimal financial advisor fees and they seem to make the right choices when it comes to what business to support. I'm thinking your problems might be a combination of... 1. your employer ONLY matches you after you become vested after 5 years for example. The after 5 years you will see a big jump in your 401k. 2. The 401k advisors take out a large chunk for their "fee"? 3. Some of the investments in your 401k took a shit. I would also talk to your HR dept, to look into their contributions and being vested. Quote Link to comment Share on other sites More sharing options...
rushawn wuan Posted December 13, 2007 Share Posted December 13, 2007 where were you guys when i made a similar thread? http://www.12ozprophet.com/forum/showthread.php?t=119903 Quote Link to comment Share on other sites More sharing options...
BruceLeroy Posted December 13, 2007 Share Posted December 13, 2007 my yob matches up to 5% of what ever i put in there over a years time i have a few grand up in that bitch. Quote Link to comment Share on other sites More sharing options...
iloveboxcars Posted December 13, 2007 Share Posted December 13, 2007 401k's are based on the idea that once you retire you will be using less money than you use now so the tax on the money will be less. 401k's are sort of bullshit because you get charged heavily if you want to pull money out of it before you are retired, even though it is your money. i do the 401k thing only because i am terrible at saving money. i do 6% of what i make. Quote Link to comment Share on other sites More sharing options...
Dick Quickwood Posted December 13, 2007 Share Posted December 13, 2007 i signed up for a 401k with like 2% of my paycheck just to do it, and when i tried to get my money out it was impossible, in fact i still haven't got my money, i need to get to work on that Quote Link to comment Share on other sites More sharing options...
GucciCondom Posted December 13, 2007 Share Posted December 13, 2007 I got 30k in 4 different mutual funds with Vanguard. 10 in each of 2 safer ones, and 5 each in two higher yielding ones. I'm going to leave it for like 7 to 10 years. Then take it out, sell my house and get another 20k I am owed from that still, and get a loan also then start up some crazy business. Quote Link to comment Share on other sites More sharing options...
iloveboxcars Posted December 13, 2007 Share Posted December 13, 2007 the taxation you'll receive for pulling all of it out at once will suck ass my friend. i have a 70-30 70 in high risk 30 in safe. what can i say, im a gambler. Quote Link to comment Share on other sites More sharing options...
Pistol Posted December 13, 2007 Share Posted December 13, 2007 when i tried to get my money out it was impossible, in fact i still haven't got my money, i need to get to work on that dude seriously why would you try to pull it out. im assuming your not 60 yet. a 401k isn't like your average savings account. this is long term meaning 30-40 years. i got both my 457b's in 100% high risk, I am the gambler! im in my 20's so i ain't trippin' by the time i retire the positive's will out perform the negative. besides if the market takes a shit, then my dollar will go alot further with my purchases, then the market settles down, and those investments have some sick return. do you guys specify international, small cap, etc. or do you just check off high risk or low risk etc. i just checked off high risk. once i start getting a better idea on how everything works and the trends i might start choosing myself. Quote Link to comment Share on other sites More sharing options...
iloveboxcars Posted December 13, 2007 Share Posted December 13, 2007 i just did the high risk/safe thing, that type of shit annoys me so i do my best to not deal with it. Quote Link to comment Share on other sites More sharing options...
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