Retirement planning, etc.

[yendi]

I've mentioned before how much I enjoy The Motley Fool, which, aside from having a nifty url, has tons of really good free content (I don't pay for any of their newsletters, and only use the message boards via the 30-day free trials), and advice on all sorts of good subjects.

Anyone who works a job that provides any sort of 401(K) option owes it to themselves to read this article and this one.

Seriously, with access to plans like that, especially if your employer matches, why the hell isn't everyone taking advantage of them? Short of true out-on-the-street or medical emergencies, there's just no excuse.

Comments

[iroshi.livejournal.com]

I have my first 401K plan, here at the job I'm working. It excites me. I put 6.-something % of my paycheck in it each month, and my employer matches 6%. (That's as high as the employer matching goes.) It's amazing, to me, to watch the amount in that 401 go up, from money I don't even acknowledge as having received, because it's *always* been taken out of my paycheck, from day one. (And working for the University of Texas, the Teacher's Retirement Fund of Texas is *mandatory*, so I couldn't opt out, anyway...so I just chose the amount that allowed the greatest employer matching. :)

I've been working there 3.5 years, and there's several thousand dollars in my 401K. It really freaks me out when I get the reports. ^_^ (Of course, my longest job ever before this one was only 1.5 years.)

[yendi]

That's exactly why it's so nice. Not to mention, that 6% you're taking out is pre-tax, so you're only being taxed on the remaining 94% that you actually receive.