</a JR Holmes Oil Company </a Shark Guard Southeast Woods and Whitetail Mayer Insurance Services LLC
Aldeer Classifieds
Looking for Lowrance Ghost or 24v Ultrex
by bradbathome. 03/28/24 08:17 PM
Turkey loads/decoy
by Rem870s2. 03/28/24 04:41 PM
Wtb Browning 300 Mag
by desertdog. 03/28/24 03:36 PM
WTB Chevy 1500
by Okalona. 03/28/24 07:44 AM
Iso ruger american ranch
by AustinC. 03/27/24 08:20 PM
Serious Deer Talk
The Hollywood Buck.
by Mbrock. 03/28/24 08:56 PM
For the Don’t Shoot Does Crowd
by SEWoodsWhitetail. 03/28/24 10:45 AM
High Fencing
by RareBreed. 03/26/24 10:45 PM
Who's got the best deer hunting in AL
by TensawRiver. 03/26/24 01:26 PM
What makes you happy?
by Fishduck. 03/26/24 10:25 AM
March
S M T W T F S
1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31
Land, Leases, Hunting Clubs
West Jefferson County hunting club
by Jmfire722. 03/18/24 08:36 AM
Western Ky farm
by todd w. 03/15/24 01:23 PM
Information on bibb county hunting club
by quickshot. 03/10/24 01:46 PM
Hunting Club
by Hibby. 03/08/24 04:34 PM
Mississippi club
by Gobl4me. 03/07/24 09:55 PM
Who's Online Now
130 registered members (brokefixer, Chickenrig, jhardy, jbatey1, odocoileus, Rockstar007, headshot, JAT, Autseed, lalongbeard, CarbonClimber1, CCC, Snuffy, Coosa1, KnightRyder, leroycnbucks, WDE, SEWoodsWhitetail, Kicker, foldemup, BBD23, BhamFred, RSF, Remington270, Chiller, Cousneddy, hoggin, Skullworks, BurningBright, WMEC615, Turberville, lectrode, Shane99, 7x57_Mauser, Turkey_neck, Kdog, Zbrann, hawndog, jwalker77, blumsden, timberwolfe, RCHRR, Ray_Coon, Catbird, Goose, lefthorn, Copes, bward85, Mansfield, desertdog, cajunshooter, WEMOhunter, BCD, Ben2, eclipse829, GomerPyle, oldbowhunter, Tree Dweller, StateLine, Cuz-Pat, Floorman1, doublefistful, Beak_Buster, Bushmaster, jlbuc10, Bamajoz, 10 POINT, jdhunter2011, Reaper, Herdbull, Ryano, William, hallb, HawkPilot, Deerslayer33, BCLC, Chancetribe, fourfive45, TGreen, Geezer, Bandit635, ucmducks, outdoorguy88, Justice, Gobble4me757, CrappieMan, BPI, Atoler, Lightfoot, Jweeks, TideWJO, taggedout, Marengo hunter, dirkdaddy, cartervj, TroyBoy1988, AustinC, KENT, LuckyGoose, Mbrock, PourIron12, just_an_illusion, FNG68, Jotjackson, Powers, Last Soldier, Solothurn, GATA87, MC21, Prohunter3509, robinhedd, limabean, kpswihart, Calvin, JohnG, Aldecks1, aucivil, Shaneomac2, 12 invisible), 593 guests, and 0 spiders.
Key: Admin, Global Mod, Mod
Previous Thread
Next Thread
Print Thread
Page 2 of 3 1 2 3
Re: 401K & general money/investing? [Re: Irishguy] #2096573
04/24/17 08:20 AM
04/24/17 08:20 AM
Joined: Nov 2011
Posts: 21,751
USA
R
Remington270 Online content
Freak of Nature
Remington270  Online Content
Freak of Nature
R
Joined: Nov 2011
Posts: 21,751
USA
Originally Posted By: Irishguy
Originally Posted By: Deadwood

In a SHTF scenario, you will want small denominations of precious metals. I've been doing it for 40 some years. A dollar bill is a piece of paper backed by nothing but confidence.


I read this all the time, but in a real SHTF scenario, I can't see gold, silver or diamonds being worth spit. I would think the real currency would be water, food, medicine, fuel, booze, tobacco, drugs and sex and not necessarily in that order.



That's a good point that I've considered too. How would a potential trader even verify it was real silver and not an arcade token?

Re: 401K & general money/investing? [Re: AU7MM08] #2096588
04/24/17 08:36 AM
04/24/17 08:36 AM
Joined: Oct 2002
Posts: 18,070
Andalusia, Al. Covington Co.
DEADorALIVE Offline
Old Mossy Horns
DEADorALIVE  Offline
Old Mossy Horns
Joined: Oct 2002
Posts: 18,070
Andalusia, Al. Covington Co.
Definitely buy some precious metals, silver more than anything else. While beans, bullets, and bandaids would be a valuable commodity should SHTF, eventually trade would resume for a more normalized currency. Gold and silver have been valuable and in demand for literally thousands of years...through good times and through the downfalls of entire civilizations. It's a safe bet that it could help ride out anything else that might pop up in your lifetime.


Well behaved women never make history.~ Out back
Quit laughing...I think I broke something.

Fifteen is my limit on Schnitzen-Gruben, Baby...

I have OCD and ADD, so everything has to be perfect, but only for a minute.
Re: 401K & general money/investing? [Re: Irishguy] #2096590
04/24/17 08:39 AM
04/24/17 08:39 AM
Joined: Sep 2014
Posts: 3,126
KY
AUstan23 Offline
10 point
AUstan23  Offline
10 point
Joined: Sep 2014
Posts: 3,126
KY

Originally Posted By: Irishguy
Originally Posted By: AU7MM08
As some know I recently started my first post-grad job.

The company matches 5% for 401K investments, so I just put 5% on the form as I would be a fool to pass up free money.
I am thinking of upping that to maybe 10%, I believe the cap is 15%.
The earlier it gets in, the longer it will have to compound up is my thinking.
Another bonus is that it will also reduce my taxable income.

I have approximately $8,500 in student loans to pay back at an interest rate of 4%.
Planning on being fairly aggressive on repayment, thinking $800ish per month as I hate the idea of paying interest.

One of my first priorities is to get an emergency fund built up.
That is an absolute must.

I don't plan on purchasing a house at least for likely 3-5 years as home might be bouncing around abit.
My current monthly rent($400ish) is such that I don't believe I could justify purchasing a house with how little I am home.

That said, I am also thinking of maybe other investments.
A rental property here in Auburn would seem like a good idea.

Any input or am I pretty much on track?
I'm open to sound suggestions.


1. Emergency fund of a couple thousand at first and then 6 months salary as soon as you can.

2. 401k up to employer matching = Free money.

3. Pay off loans.

4. Roth IRA at your age. My son is in college, but just got a full time gig at a tech company that is about equal to an internship, but better. I got him starting to invest 10% into a Roth IRA at www.betterment.com because there was no minimum to start with.

Not a bad idea to just rent for awhile, home ownership is not the great investment it once was, plus there are a lot of unexpected costs associated with home ownership.

So yeah, you are on the right track.


I use betterment and I'm satisfied with the platform so far. Set it and forget it.


It is easier to fool a man than to convince him he has been fooled.
Re: 401K & general money/investing? [Re: AU7MM08] #2096591
04/24/17 08:40 AM
04/24/17 08:40 AM
Joined: Jun 2015
Posts: 13,978
Some Marriott/Auburn
A
AU7MM08 Offline OP
Booner
AU7MM08  Offline OP
Booner
A
Joined: Jun 2015
Posts: 13,978
Some Marriott/Auburn
I'm not investing/prepping for SHFT.

I'll keep a couples of water around and some food but I'm not a Rambo survivalist type.

Re: 401K & general money/investing? [Re: AU7MM08] #2096597
04/24/17 08:49 AM
04/24/17 08:49 AM
Joined: Dec 2013
Posts: 119
Athens, AL
Pollwoll Offline
3 point
Pollwoll  Offline
3 point
Joined: Dec 2013
Posts: 119
Athens, AL
You would do better to contribute to the max match of your employer, then take the rest and invest in a Roth IRA. You can contribute a max of $5,500/yr in a Roth. It's like a savings account, so when you have kids and life gets short on time and money you can use a Roth IRA whereas, you would be forced to take a loan out on a 401(k) then pay back the amount.

The 401(k) is only a good investment vehicle for up to the amount that an employer contributes. If you go beyond that you'd be better of in a Roth IRA or bonds (municipal).

A 401(k) must be vested to earn the employer match. Most companies require that you work for them for 5 years before you are 100% vested and you can take their contribution to your 401(k) with you when you leave. If you aren't employed by them for the minimal amount of time that it takes to be fully vested, then you forfeit their match amount.

The Roth IRA matures after 5 years. If you cash it in before that time, then you can cash it in for the amount that you paid for it. If you keep it until you retire, then the interest compounds.

Don't pay off your student loan early. It is the cheapest interest loan available and it gives you good credit during the time that you are paying it. It was the best investment you could have made and the interest is so low that it is actually less than the inflation rate. You're shooting yourself in the foot if you pay it off early.

If you plan to live somewhere less than 8-10 years, then you're better off renting in most cases. You're going to get stuck paying Private Mortgage Insurance if you don't have 10% down on a home loan. PMI can cost a couple hundred bucks per month on top of a mortgage. Once you're invested for 10% then the payment goes away. VA loans don't require money down or PMI.

An 8-month emergency fund will be there to help in case you have hospital bills or wind up without work. Take the amount that it takes to live each month and multiply it by 8. You can have that much in cash, precious medals, or Roth IRA's but it should be much more important to stash than paying off student loans right now.


Gun Owners of America - GunOwners.org
National Trappers Association - NationalTrappers.com
Alabama Trappers and Predator Control Association - ATPCA.org

Fight and stand together or lose the God-given right to hunt, trap, and shoot
Re: 401K & general money/investing? [Re: AU7MM08] #2096600
04/24/17 08:51 AM
04/24/17 08:51 AM
Joined: Nov 2015
Posts: 14,052
Chilton County
M
MarksOutdoors Offline
Booner
MarksOutdoors  Offline
Booner
M
Joined: Nov 2015
Posts: 14,052
Chilton County
I wish I had followed the same financial path when I was younger. I did pretty well until I got married.


"The true soldier fights not because he hates what is in front of him, but because he loves what is behind him."
-G. K. Chesterton
Re: 401K & general money/investing? [Re: AU7MM08] #2096605
04/24/17 09:04 AM
04/24/17 09:04 AM
Joined: Oct 2015
Posts: 150
North, AL
W
wjohnson1983 Offline
3 point
wjohnson1983  Offline
3 point
W
Joined: Oct 2015
Posts: 150
North, AL
It may be worth your time to talk to a professional.

I started putting money into the work 401k when I was 21. Converted to roth 401k when that came available. My company does a 2/1 match up to 4%, so I have to put in the 8 to get the 4. I've invested as much as 18% before, but I've never maxed it out to the yearly limit.

Anyways my wife and I met with a financial advisor this year after having our first child. He used his projection tool and said I was on a current track to be overinvested for retirement. It would be in my best interest to back off the retirement account to build up the emergency fund even more and pay down our house faster since I was sitting good on my retirement account. I'm sitting at 10% right now.

Re: 401K & general money/investing? [Re: AU7MM08] #2096609
04/24/17 09:06 AM
04/24/17 09:06 AM
Joined: Jan 2011
Posts: 9,848
Mobile, AL
A
alhawk Offline
14 point
alhawk  Offline
14 point
A
Joined: Jan 2011
Posts: 9,848
Mobile, AL
As a 23 yr old starting my first job and knowing I would be getting married within a year or so, I started 401k at 7% of my salary. Went up 2% with each raise and was quickly at the 15% max. I wish now that I would have started the Roth IRA sooner,
but oh well. 5% for me to Roth. If you never see the money, you will not ever miss it.

My advice is to
a. If you have limited options in market, do not chase the winner for a 6 month period. This is LONG term investing, so look at 10 year returns and make your decisions.

b. Don't worry when you see some big losses

c. Don't get too excited when you see some big gains.

Pretax 401k = you don't feel quite the sting on your check.

Post Tax Roth IRA = that sum beach hurts laugh

Re: 401K & general money/investing? [Re: wjohnson1983] #2096611
04/24/17 09:08 AM
04/24/17 09:08 AM
Joined: Nov 2011
Posts: 21,751
USA
R
Remington270 Online content
Freak of Nature
Remington270  Online Content
Freak of Nature
R
Joined: Nov 2011
Posts: 21,751
USA
Originally Posted By: wjohnson1983
He used his projection tool and said I was on a current track to be overinvested for retirement. It would be in my best interest to back off the retirement account to build up the emergency fund even more and pay down our house faster since I was sitting good on my retirement account. I'm sitting at 10% right now.


His projection tool is wrong and you've been given some terrible advice. 10% savings is certainly not enough, especially with kids.

He's projecting you'll get an 8%-10% return. This won't happen. It happened for our parents, but it won't happen for you. Find a new advisor, seriously.

Re: 401K & general money/investing? [Re: AUstan23] #2096616
04/24/17 09:12 AM
04/24/17 09:12 AM
Joined: Dec 2013
Posts: 22,476
Lickskillet, AL
Irishguy Offline
a.k.a. Dingle Johnson
Irishguy  Offline
a.k.a. Dingle Johnson
Joined: Dec 2013
Posts: 22,476
Lickskillet, AL
Originally Posted By: AUstan23


I use betterment and I'm satisfied with the platform so far. Set it and forget it.


Good to hear an independent review. Thanks.

Re: 401K & general money/investing? [Re: AU7MM08] #2096624
04/24/17 09:27 AM
04/24/17 09:27 AM
Joined: Feb 2015
Posts: 2,176
Eastbound and Down
dead_eye Offline
8 point
dead_eye  Offline
8 point
Joined: Feb 2015
Posts: 2,176
Eastbound and Down
Put as much back as you can while you're single. It's nearly impossible with all kids and a wife.

Re: 401K & general money/investing? [Re: DEADorALIVE] #2096661
04/24/17 10:13 AM
04/24/17 10:13 AM
Joined: Nov 2004
Posts: 9,565
Cape San Blas, Florida
D
Deadwood Offline
Footbsll Bat PSYOPS
Deadwood  Offline
Footbsll Bat PSYOPS
D
Joined: Nov 2004
Posts: 9,565
Cape San Blas, Florida
Originally Posted By: DEADorALIVE
Definitely buy some precious metals, silver more than anything else. While beans, bullets, and bandaids would be a valuable commodity should SHTF, eventually trade would resume for a more normalized currency. Gold and silver have been valuable and in demand for literally thousands of years...through good times and through the downfalls of entire civilizations. It's a safe bet that it could help ride out anything else that might pop up in your lifetime.


True. and buy small denominations so that folks that are not able to make change for large denominations don't have to. Also, never let the government know how much you have. Just get a sales receipt without your name on it. They have confiscated it before.

For the folks that are not fans of precious metals, don't buy it, then. I'd rather be prepared than not, though.



Re: 401K & general money/investing? [Re: Remington270] #2096666
04/24/17 10:16 AM
04/24/17 10:16 AM
Joined: Oct 2015
Posts: 150
North, AL
W
wjohnson1983 Offline
3 point
wjohnson1983  Offline
3 point
W
Joined: Oct 2015
Posts: 150
North, AL
Originally Posted By: Remington270
Originally Posted By: wjohnson1983
He used his projection tool and said I was on a current track to be overinvested for retirement. It would be in my best interest to back off the retirement account to build up the emergency fund even more and pay down our house faster since I was sitting good on my retirement account. I'm sitting at 10% right now.


His projection tool is wrong and you've been given some terrible advice. 10% savings is certainly not enough, especially with kids.

He's projecting you'll get an 8%-10% return. This won't happen. It happened for our parents, but it won't happen for you. Find a new advisor, seriously.


I don't really know how you can make a blanket statement like that. You don't know my salary, how much I have saved, how much my wife is saving, pension, etc. Also,what do kids have to do with how much retirement savings I have?

Re: 401K & general money/investing? [Re: AU7MM08] #2096694
04/24/17 10:40 AM
04/24/17 10:40 AM
Joined: Sep 2006
Posts: 2,685
West Florida
westflgator Offline
10 point
westflgator  Offline
10 point
Joined: Sep 2006
Posts: 2,685
West Florida
I agree with what the others have said, it sounds like you are light years ahead of most people at your stage in life. That being said. I like what Deadwood had to say but I would personally change one small thing. I would put up to my company match in my 401k, then I would put the rest in a self-directed IRA (Traditional or Roth). I would go with the ROTH and then invest in Real Estate & some precious metals for diversification (but I personally would mostly invest in real estate). You can do this with a self-directed IRA, your IRA owns the investment, not you personally, so there is no tax liability on the income or the profit when you sell the property. I like the ROTH because with certain acquisition strategies you can pick up real estate without having to use a lot of funds. For example, you can put an option to purchase on a piece of property for a hundred dollars and then sell the option for 5k profit with not tax burden on the profit even when you pull it out at retirement if it is a ROTH. Or you could buy a small lot that is tax delinquent for a $1000 and sell it for 3 or 4k for a quick profit without ever having to pay any taxes on that money. You can see how you could begin to grow that account pretty fast if you continue to keep those profits moving (the velocity of money). These aren't pie in the sky examples, these are just a couple of real world examples that people like me are utilizing within their self-directed IRA's, to make much higher returns with more security than you will find in the stocks, mutual funds, annuities, life ins etc. I know there are always exceptions to the rule on both sides. Yes, you can lose money in real estate but there are many very safe options that you have more control over than the stock market. My number one rule is to never ever buy a speculative property that is totally dependent on the market to rise for me to make money. I will not buy it if I unless it's way below the current market value (this gives you room for the market to drop and you still have equity) and the best properties either allow for immediate positive cash flow or they allow for you to add value to the property that you have already purchased below market. Never go into an investment like this without an exit strategy that has room for market fluctuations. This type of investing does require more effort on your part, but consistent returns of 30% and higher are not uncommon at all.

Just my two cents...This strategy has worked well for me, but you can't go wrong with any of the suggestions that have been given, along with what you already have planned out.

Re: 401K & general money/investing? [Re: AU7MM08] #2096701
04/24/17 10:45 AM
04/24/17 10:45 AM
Joined: Nov 2004
Posts: 9,565
Cape San Blas, Florida
D
Deadwood Offline
Footbsll Bat PSYOPS
Deadwood  Offline
Footbsll Bat PSYOPS
D
Joined: Nov 2004
Posts: 9,565
Cape San Blas, Florida
Yes, I am also a Roth fan, but it came a little late in my investing career, about 1989 or so when it was born.



Re: 401K & general money/investing? [Re: Deadwood] #2096703
04/24/17 10:45 AM
04/24/17 10:45 AM
Joined: Oct 2008
Posts: 6,717
Selma
odocoileus Online content
14 point
odocoileus  Online Content
14 point
Joined: Oct 2008
Posts: 6,717
Selma

Originally Posted By: Deadwood
Yes, I am also a Roth fan.


David Lee Roth?

Re: 401K & general money/investing? [Re: AU7MM08] #2096710
04/24/17 10:53 AM
04/24/17 10:53 AM
Joined: Nov 2004
Posts: 9,565
Cape San Blas, Florida
D
Deadwood Offline
Footbsll Bat PSYOPS
Deadwood  Offline
Footbsll Bat PSYOPS
D
Joined: Nov 2004
Posts: 9,565
Cape San Blas, Florida
Well, a little, but more of a Sammy Hagar fan.



Re: 401K & general money/investing? [Re: Deadwood] #2096715
04/24/17 10:57 AM
04/24/17 10:57 AM
Joined: Sep 2006
Posts: 2,685
West Florida
westflgator Offline
10 point
westflgator  Offline
10 point
Joined: Sep 2006
Posts: 2,685
West Florida
Originally Posted By: Deadwood
Yes, I am also a Roth fan, but it came a little late in my investing career, about 1989 or so when it was born.


Not too late at all if you use the strategies that I have mentioned above with real estate. But the downside is that you personally have to sniff out the deals that are going to make you the money, so it is more hands on although you still have to manage those investments at arms length to stay legal. But I don't know of any other way to grow wealth any faster and with the security of real estate. You just have to be particular in the types of properties that you invest in...

Re: 401K & general money/investing? [Re: Deadwood] #2096717
04/24/17 10:58 AM
04/24/17 10:58 AM
Joined: Dec 2013
Posts: 22,476
Lickskillet, AL
Irishguy Offline
a.k.a. Dingle Johnson
Irishguy  Offline
a.k.a. Dingle Johnson
Joined: Dec 2013
Posts: 22,476
Lickskillet, AL
Originally Posted By: Deadwood
Yes, I am also a Roth fan, but it came a little late in my investing career, about 1989 or so when it was born.


I'm up to 14% into my 401k, and looked into splitting some of that into a Roth 401k instead, but I ran some calculations on various online comparison calculators and at my age with 9 years until I retire the calculations showed that I would get more money after taxes by staying with the 401k vs the Roth, all things being equal.

I was surprised, but I think the difference maker is that 14% before taxes is obviously a greater initial investment than 14% after taxes, so you are putting in more money on the front end. Now throw in the fact that I believe we will be in a lower tax bracket when we retire, even favors the 401k more.

However for a younger person, putting as much in the Roth as possible makes sense.

Re: 401K & general money/investing? [Re: AU7MM08] #2096737
04/24/17 11:29 AM
04/24/17 11:29 AM
Joined: Jul 2010
Posts: 9,111
B'ham
Goatkiller Offline
14 point
Goatkiller  Offline
14 point
Joined: Jul 2010
Posts: 9,111
B'ham
I put myself through college working on cars and graduated standing on a street corner in Downtown B'ham with $1k to my name but no debt. It was kinda like the fat kid that one day shows up and is skinny. I decided I wasn't going to be poor my whole life.

I'm going to stop there because I'm not into putting my life story on the internet. If you want to know what happens next PM me and I'll give you some real advice if you want to hear it.






No government employees were harmed in the making of this mess.
Page 2 of 3 1 2 3

Aldeer.com Copyright 2001-2023 Aldeer LLP.
Powered by UBB.threads™ PHP Forum Software 7.6.1.1
(Release build 20180111)
Page Time: 0.118s Queries: 16 (0.037s) Memory: 3.3036 MB (Peak: 3.6083 MB) Zlib disabled. Server Time: 2024-03-29 13:42:15 UTC