401K... what do you invest each month? WITH POLL

Original post by JeanineP2B

Sep 11, 2006 04:52 PM

I guess this might be a personal question so you can anonymously take the poll if you'd like.

I'm still in college so I don't know much about this but FH just started working and he's investing $400 each month into this 401K thing!

It just seems like so much! PLUS his company is adding a small % to it each month as well.

Do you think that's too much? He just turned 24 and I'm 21 so in my opinion, he should be investing that kind of retirement money later on! Do you agree? I'm trying to figure out what the average retirement investment is per working person

Thanks in advance everyone

DandS Posted: Sep 12, 2006 10:05 AM

Re: 401K... what do you invest each month? WITH POLL

FH & I both contribute the max into our 401K plans. We have been doing this for at least 10 years now and I am so happy we started this early.

Meaghan729 Posted: Sep 12, 2006 10:16 AM

Re: 401K... what do you invest each month? WITH POLL

I invest only 3% each month, with an employee match.

the key is to start early. I started mine when I was 21.

rojerono Posted: Sep 12, 2006 12:18 PM

Re: 401K... what do you invest each month? WITH POLL

I won't give dollars... because I just don't feel that it is appropriate. But FH and I both contribute the max amount to our retirement plans every month. Plus we pay for Life Insurance and more money for our kid's educational funds each week on top of all that!

Then we pay the mortgage, the groceries, the utilities and the 10 billion other things that come up. And save for a wedding.

It's do-able!

JeanineP2B Posted: Sep 12, 2006 03:09 PM

Re: 401K... what do you invest each month? WITH POLL

Thanks again for your posts! It really helped me to understand the value of this investment.

GabrielleAndJohn... I agree that you should be somewhat settled before contributing. When I start working, there is NO way that I'll be putting $400 each month but I do value it more now and will put a decent amount to ensure that something is building.

Rojerono... Thanks for still posting your advice. Very much appreciated.

Good luck to all of you ladies

June12007bride Posted: Sep 12, 2006 03:36 PM

Re: 401K... what do you invest each month? WITH POLL

Posted by GiJoe07

According to Suze Orman (CNBC & O Mag) you should only be contributing upto the max that your company will match especially if you are still saving to buy a house. Also you should find out if you FH is fully vested yet (some company's give 100% after a couple of years).

I love Suze Orman!!! I watch her all the time ....she also doesn't suggest investing in whole life insurance policies.

GabrielleandJohn Posted: Sep 12, 2006 03:46 PM

Re: 401K... what do you invest each month? WITH POLL

Posted by JeanineP2B

Thanks again for your posts! It really helped me to understand the value of this investment.

GabrielleAndJohn... I agree that you should be somewhat settled before contributing. When I start working, there is NO way that I'll be putting $400 each month but I do value it more now and will put a decent amount to ensure that something is building.

Rojerono... Thanks for still posting your advice. Very much appreciated.

Good luck to all of you ladies

You got it chica!

betani Posted: Sep 12, 2006 05:31 PM

Re: 401K... what do you invest each month? WITH POLL

investing as much as possible is always a good thing - n fact one of the best things you can do. just as long as you're not investing more than you can afford, then go for it!