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In United States
Registered Feb 09, 2008
YesYNot's most recent comments:
- On 30 Mar 2014
More warnings about 401Ks,
Tax advantaged accounts are a great deal. Not taking part in them is a huge mistake. Some 401Ks are done with crappy investment companies, or the employer gets some kickback for sellling their employees out into limited plans with excessive fees. However, these plans are still a great deal for employees. When the employer kicks in extra money, it's a double gift.
One of my employers kicked in 8% of my salary when I put in 6%. The 6% was tax free. So, by participating, my take-home was reduced by 4%, but my retirement account grew by 14% in contributions alone. That's like getting a 15% (before tax) raise. If the investment company makes $100 + 1% of the invested money per year in fees instead of 0.2%, like Vanguard would take, I can live with that.
Another employer kicked in a pittance and their 401K company took fees that were too large, but those fees were more than payed for with the companies matching funds. I got a bunch of money tax free, and it is now rolled over into a Vanguard low cost account. If your tax bill is about zero, there's little point in a 401K. It might be better to put money into a Roth IRA. If you pay significant taxes and make too much for an IRA, I can't imagine a situation where it would be better to avoid the 401K.
I interviewed for some companies that gave all matching funds in their own stock, or gave bonuses if you put some money in their stock, but no one ever said that all invested money had to go into the company stock. Not putting all of your investments in one stock is rule # 1 of investing. I have sympathy for people who did that and got ruined, but wonder what the f*@! they were thinking.
- On 27 Mar 2014
5" Smartphone screens,
I had a droid razrmaxx, which was 4.7" I think. It's pretty much the same as a galaxy S4. I recently dropped down to a galaxy s4 mini, and I prefer the smaller phone.
- On 20 Feb 2014
Oksana who gets $22,500 a month in child support, files for bankruptcy,
That article is pretty funny. She rejected a $15 million settlement from Mel Gibson, and ended up getting $750K. Most of her debt is from the 40 lawyers she churned through fighting Gibson. I don't feel sorry for either of them or the lawyers who will get stiffed in bankruptcy.