Retirement bullshit
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Blazin
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Just make sure you pick an index and not an actively managed. If you want to just make one choice, then do the S&P 500 if you list the options can help if needed. Fidelity has the target retirement choices as well I believe then it will adjust over time without you having to worry about it.
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Shonuff
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Gravel
Mr. Poopybutthole
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It's not on all their funds, but yes, Fidelity just recently (like, in the past 2-3 months?) lowered a lot of their fees to be competitive with Vanguard.
They're just about the only other company I'd recommend investing in an index fund for retirement with.
You just have to make sure the funds you're invested in don't have ridiculous fees, because as far as I know there are still some out there. Although, I do wonder if it's only on actively managed funds and not their index funds.
You also need to make sure you're looking at what you're getting charged on your employer funds, and not the base funds. A lot of times you'll have higher expenses on the employer fund versus what the base fund is, which I think are 401k management fees or some other nonsense.
Think of the match as a 50% guaranteed return to start. No reason to at least go to the match. Most plans these days have target date retirement plans that adjust as you age. If you want a set it and forget it portfolio, those are the way to go.
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Its not like you have a choice in the matter or you end up losing the 50% the company is giving you.
I have Prudential and company matches 7% up to 10% of my yearly salary or whatever the max is. So yeah I could go out and do up a second IRA or whatever, but the company one is Prudential.
I have Prudential and company matches 7% up to 10% of my yearly salary or whatever the max is. So yeah I could go out and do up a second IRA or whatever, but the company one is Prudential.
Blazin
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The health system my wife works for switched their match to a % they put into the account for you whether you participate or not, which benefits a lot of people who don't ever contribute to their retirement plan this way they'll have some savings building up even if they don't pay any attention to it. For Americans who are such crappy savers it's probably the better way to go about it but lots of companies would rather save the money of their employees not participating
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Just roll it over to Vanguard once the company matches funds. Yes you do have a choice.
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Speaking of, I have a feeling that the majority of next gen old people after the baby boomers and forward will be in deep shit because so many just dont do shit for retirement savings. And this is not the 70s and 80s where you got pensions and shit.
My brother in law is about to retire from Ford, he got in at the age of 18 in a parts depot running parts, then worked his way up to a skilled trades hydraulic guy working on presses and shit. Well hes only got like 2 more years and the fucker is out with full 30 yrs and full pension.
Blazin
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This can depend on the plan, some plans will let you do in service withdrawals others won't, more common to let you roll your own contribution but not the employers. Most plans also have vesting schedules on matches. With how often people switch jobs for many it's a non issue each time you change jobs just roll it over to vanguard ira and rinse and repeat
Blazin
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US savings rate is really bad, and the dot com crash then the 09 crash disenfranchised many people, mom and pop participating in the market has not recovered. Read yesterday one in eight households have a negative net worth
I feel like when the boomers die, things will get real bad until we realize we rule the world now and start making fixes.
What's that generation above millennials?
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Whats more surprising is that 7 out of 8 have a positive net worth. Most people spend like one of J49's whores.
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Blazin
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vanguard had some cool articles recently showing how the average mutual fund investor under performs the market even when they are buying index funds because they buy high and sell low.
Gen X is going to just start breaking into upper management and politics in the next 10 years in a sizable fashion, we are rather a small cohort compared to the one above us and below us, so some rough going for awhile here but I'm optimistic about US future post baby boomers
Gen X is going to just start breaking into upper management and politics in the next 10 years in a sizable fashion, we are rather a small cohort compared to the one above us and below us, so some rough going for awhile here but I'm optimistic about US future post baby boomers