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  1. #1
    Banned ZDR1's Avatar
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    Down market.

    I have been doing the 4o1k for 31 years now and have seen it go up and down so no worries, I just up my contributions from 35% to 45% I am over 50 so I can do make up contributions buy low sale high and will go to 55% at the first of the year, at that point I can only put money in for seven month's then I will retire and move it to a tax free roth IRA and let it grow till I have to draw.
    Last edited by ZDR1; 09-05-2015 at 10:53 AM.
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    Banned ZDR1's Avatar
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    What I am trying to say is if you are young and have a good job and have a 4o1k just keep putting the money in as you can afford it and do not let the wife say no as mine did and my X is on #5 husband now and it Is not my problem.
    Last edited by ZDR1; 09-05-2015 at 10:54 AM.
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    Senior Member Devils Advocate's Avatar
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    And if you can (make under 100,000 a year) go Roth IRA in your 401k. I wish I had when I was able. Taxes are a killer.

    Also most ( some) utilities stocks pay mediocre dividends but they don't change and only increase. WEC, LNT, DTE..... All around 3.5% dividends regular as clock work and I just got anywhere from a 6.3% to 8% raise in dividends. Plus they are some of the safest stocks to hold. Not extreme performers but when you do retire they are pretty safe.
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    Senior Member Tirebiter's Avatar
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    Quote Originally Posted by zdiver1 View Post
    I just up my contributions from 35% to 45% I am over 50 so I can do make up contributions....
    I did similar. I did 50% for about my last 8 years of working. Aside from putting away a lot of money, the high contribution forced us to live a more frugal lifestyle, much like we might need to when retired.

    The problem I've got now, if you want to call it a problem, is getting out of the frugal mode now that we are pretty well set.

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    Senior Member Lyterx's Avatar
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    I would like to hear advice from all that are willing to share some of their market knowledge.
    1991 TW200

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    Banned ZDR1's Avatar
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    Quote Originally Posted by Tirebiter View Post
    I did similar. I did 50% for about my last 8 years of working. Aside from putting away a lot of money, the high contribution forced us to live a more frugal lifestyle, much like we might need to when retired.

    The problem I've got now, if you want to call it a problem, is getting out of the frugal mode now that we are pretty well set.
    I got the big D in 1991 and paid child support for 15 years so I had to do the Frugal lifestyle and when I put my stop payment in, I upped my contribution from 6% to 20% and have been upping it since. I have seen many guys I have worked with only do the 4 to 6 % the company matches up to 7% and retire after 30 years with under $200,000 and one of my good friends worked 35 years and I talked him into doing the plan to late and he retired with only $46,000 and he has already gone thru it. So we have been hiring over 20 new guys this year and I tell them my story before you know it you will be old.
    Last edited by ZDR1; 09-05-2015 at 09:26 PM.
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    Banned ZDR1's Avatar
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    boznarras I will respond to your PM tomorrow as I have been drinking the Devils Brew and cooking Chili your PM was something I have been looking for.
    Great information. Paul

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    Banned ZDR1's Avatar
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    Quote Originally Posted by Lyterx View Post
    I would like to hear advice from all that are willing to share some of their market knowledge.
    Do you have a 4o1K at work?

  10. #9
    Senior Member Devils Advocate's Avatar
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    Quote Originally Posted by Lyterx View Post
    I would like to hear advice from all that are willing to share some of their market knowledge.
    If your employer offers a matching 401K option with a Roth type IRA and you make under $100k a year, max it out. With a Roth you pay taxes up front but NO TAXES ARE DUE AT WITHDRAWAL!!!

    This is a huge plus. All your gains are tax free. It's like hiding it in mason jars buried in your back yard yet you can still realize significant gains (read tax free income).

    Right now would be a good time to get into the market. Remember these top secret words and repeat them to no one. Actually you can because even though most people know it they do the exact opposite.

    Buy low, sell high. ....and you can forget half this just buy low. I have played the market and have done quite well but it is risky business. Heart attack risky. As I said above buy the utility stocks listed and watch your dividends accumulate. Buy more of the same stock with your dividends. Most company 401Ks don't let you have the control you need. You have to buy mutual funds that charge fees and always change their stories on what to do. If this is the case do the minimum for your company match and open a Scottrade, Ameritrade, what ever type ROTH IRA account and dump at least 10% of your adjusted gross into it. Look at tirebiters post. A lot of truth there. It's harder to go back to a more meager living...

    Also remember this, stay out of debt or minimize as best you can. DON'T GET A CREDIT CARD.

    "The percentage you're paying is too high priced,
    While you're living beyond all your means.

    And the man in the suit has just bought a new car,
    From the profit he's made on your dreams."


    Who said that?

    PM me. We'll chat.
    Last edited by Devils Advocate; 09-05-2015 at 10:16 PM.
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    Banned ZDR1's Avatar
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    When I started working at Southwest gas in 1984 one of the older guys took me aside and told me to put as much money in the plan as I could, so I was buying the SWG stock for 6 bucks a share and today it closed at $53. a share and our custodian is Fidelity and I have been in the Contra Fund for 31 years. Southwest Gas Corp (NYSE: SWX) the largest stand alone Natural gas company in the US.
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