Dow @ 20K. Time to jump off!
POSTED BY: JO753
UPDATED: Friday, April 4, 2025 13:08
VIEWED: 120054
PAGE 68 of 119
Dow closed today at 26,651. That is the 3rd highest Close in history.
S&P 500 closed at 2,924. That is the 3rd highest Close in history.
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Quote:Do you know what you plan to look for? I recently went through it with some people and was surprised how easily snookered some were.
Originally posted by 6IXSTRINGJACK:Quote:
Originally posted by JEWELSTAITEFAN:Quote:This would be great, but you should not assume it to be the case. One place I recently worked had the Union get rid of these runds, ensuring that every employee would lose money from their Retirement Funds, regardless of which fund you chose.
Originally posted by 6IXSTRINGJACK:Quote:
Originally posted by JEWELSTAITEFAN:Quote:Are you doing Tax Deferred? You will want to evaluate which funds in your investment family drop with the Market, and which do less so. You want to know this from evaluation before any drop happens, not during or after. Some investment families do not allow any diversity, so there is no point in using those families.
Originally posted by 6IXSTRINGJACK:Quote:
Originally posted by JEWELSTAITEFAN:
If that is what it sounds like, you are not hearing very well.
I can't wait. One more month and I get to start putting some money in there and getting that 5% match. Hell... I might even start maxing out my contributions regardless and just let it sit in what would essentially be a 2nd checking account until the market crashes and I can buy at the bottom.
Do Right, Be Right. :)
I believe that my only option will be tax deferred.
I haven't looked at what options are available to me in the company's 401k plan. I'm sure they can vary pretty wildly from company to company. Where i used to work they had 3 or 4 levels of investment, varying from pretty mild to very aggressive. But they also had another option which was essentially a money market account that bared almost 0% interest. This was the fund that we were forced into after the company buyout only months before the stock market crash that saved me from losing my ass right before I got laid off.
I'm hoping my company has a fund like that where I can let this sit until the market crashes again. It's too late for me to buy in now.
Do Right, Be Right. :)
BTW, Tax Deferred is best, unless you are wealthy or have some similar unusual situation.
I don't assume anything when it comes to my money. :)
I can't really say anything about my options right now, but I'm going to look into it this week. I have 2 or 3 more pay periods before I'd be getting the match, but I'm considering putting the rest of my paychecks directly into it for the year since I won't need them. That way I could avoid the federal taxes for as much as possible above 12k, and that's 3.5% less state taxes I'd be paying on whatever I put in there too... but only if there is one of those safe places to put them that would be untouched by anything that happened in the market.
My plan would be to have as much in there as possible whenever the market takes a crap. I'm actually hoping that it stays up for a long time. Maybe 6 years if Trump gets reelected? The longer we go before the inevitable crash, the more I could have in there to buy low is the way I figure it.
Do Right, Be Right. :)
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Quote:
Originally posted by JEWELSTAITEFAN:
Do you know what you plan to look for? I recently went through it with some people and was surprised how easily snookered some were.
You'll have to be a bit more specific with that question because I don't know exactly what you're asking me.
Here's what I do know.
I'll get a 100% return on the first 5% I put in there beginning in November. This match is not vested until I work with the company for 3 more years after that. It's also not retroactive, so any additional money I put in this year will not be matched and it will only be on the first 5% going forward.
I have to pay SSI/MC on every dollar I make and nothing gets shielded from that.
Limits to how much you can put into a 401k in a year are nearly $3,000 more than I will make this year.
Anything over $12k will be taxed federally at 10%. Everything over $1k will be taxed at 4.8% for state and local. If I were to put everything over $12k in there from now until the end of the year, I'm looking at a tax savings of roughly $450.
My company match would only be a maximum of around $90 from when I'm eligible until the end of the year, and added with the tax savings if I put the rest of my money into the 401k would be about $540 earned.
The EIC won't be a thing for me this year. I was looking to see how much I could gain by putting the rest of my cash into the 401k for the year, but the EIC has a limit on both your taxable wages and your AGI, and it will be compared to whichever is higher, so even putting money away will still only net me a couple bucks here if anything at all.
If you have any suggestions, I'm more than happy to hear them.
Do Right, Be Right. :)
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Quote:This is not my answer, but you made me recall a question. Does the match apply only to 5% of your base pay (40 hours), or to 5% or all your pay, including OT? This is different between companies.
Originally posted by 6IXSTRINGJACK:Quote:
Originally posted by JEWELSTAITEFAN:
Do you know what you plan to look for? I recently went through it with some people and was surprised how easily snookered some were.
You'll have to be a bit more specific with that question because I don't know exactly what you're asking me.
Here's what I do know.
I'll get a 100% return on the first 5% I put in there beginning in November. This match is not vested until I work with the company for 3 more years after that. It's also not retroactive, so any additional money I put in this year will not be matched and it will only be on the first 5% going forward.
I have to pay SSI/MC on every dollar I make and nothing gets shielded from that.
Limits to how much you can put into a 401k in a year are nearly $3,000 more than I will make this year.
Anything over $12k will be taxed federally at 10%. Everything over $1k will be taxed at 4.8% for state and local. If I were to put everything over $12k in there from now until the end of the year, I'm looking at a tax savings of roughly $450.
My company match would only be a maximum of around $90 from when I'm eligible until the end of the year, and added with the tax savings if I put the rest of my money into the 401k would be about $540 earned.
The EIC won't be a thing for me this year. I was looking to see how much I could gain by putting the rest of my cash into the 401k for the year, but the EIC has a limit on both your taxable wages and your AGI, and it will be compared to whichever is higher, so even putting money away will still only net me a couple bucks here if anything at all.
If you have any suggestions, I'm more than happy to hear them.
Do Right, Be Right. :)
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Quote:
Originally posted by JEWELSTAITEFAN:
This is not my answer, but you made me recall a question. Does the match apply only to 5% of your base pay (40 hours), or to 5% or all your pay, including OT? This is different between companies.
I don't know for sure, but I've never felt the need to look into that. As is typical with the retail sector, except for extremely rare cases, OT is highly frowned upon and could be grounds for termination if you do it too often. I doubt I'll ever see any OT pay.
I'm going to assume that the 5% would be for OT pay as well. The only reason I'm going to make that assumption is that this doesn't really effect me. If I ever did get any, it would be such a small amount that 5% of it would be negligible.
So.... you said that this wasn't your answer. Could you clarify your question for me so I can answer it?
Do Right, Be Right. :)
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Quote:
Originally posted by JEWELSTAITEFAN:
Dow closed today at 26,651. That is the 3rd highest Close in history.
S&P 500 closed at 2,924. That is the 3rd highest Close in history.
I conjure that this continuing run plus the pillaging of the US (our) treasury, is why that fat pumpkin is still in office.
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Quote:
Originally posted by captaincrunch:Quote:
Originally posted by JEWELSTAITEFAN:
Dow closed today at 26,651. That is the 3rd highest Close in history.
S&P 500 closed at 2,924. That is the 3rd highest Close in history.
I conjure that this continuing run plus the pillaging of the US (our) treasury, is why that fat pumpkin is still in office.
Pillaging of what? There hasn't been anything in the treasury for 3 decades now.
If you're referring to additional national deficit, he is on pace to be a close runner up to Obama, which is very unfortunate for all of us.
One or two more administrations and you'll be able to buy more with monopoly money than the USD.
Might want to start investing now: https://www.ebay.com/itm/Hasbro-Monopoly-Money-1-Package/263943674416?
hash=item3d7444da30
Do Right, Be Right. :)
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Quote:I should be able to reply adequately tonight.
Originally posted by 6IXSTRINGJACK:Quote:
Originally posted by JEWELSTAITEFAN:
This is not my answer, but you made me recall a question. Does the match apply only to 5% of your base pay (40 hours), or to 5% or all your pay, including OT? This is different between companies.
I don't know for sure, but I've never felt the need to look into that. As is typical with the retail sector, except for extremely rare cases, OT is highly frowned upon and could be grounds for termination if you do it too often. I doubt I'll ever see any OT pay.
I'm going to assume that the 5% would be for OT pay as well. The only reason I'm going to make that assumption is that this doesn't really effect me. If I ever did get any, it would be such a small amount that 5% of it would be negligible.
So.... you said that this wasn't your answer. Could you clarify your question for me so I can answer it?
Do Right, Be Right. :)
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Dow closed today at 26,773. That is a new Record All-Time High.
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Dow closed today at 26,828. This is a new Record All-Time High, for the 2nd day in a row.
During the session, it traded above 26,950 before settling.
S&P 500 closed at 2,925. This is the 3rd highest in history.
Just like in January, must be time to Jump Off!! Obviously, for the dozenth day in a row, Nowhere to go but Down. When we have discount pricing, it is time to Jump Off, there is Nowhere to go but Down. And when pricing is at All-Time Record Highs and still climbing, it is also time to Jump Off!! because there is Nowhere to go but Down.
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