Employees get a 2% raise

[mustangguy289]

I just upped my 401K contribution by 2%.. mine will remain the same... actually a little less because healthcare went up by about $52 a month.

[OldGuysRule]

I just upped my 401K contribution by 2%.. mine will remain the same... actually a little less because healthcare went up by about $52 a month.

Good plan. I'm already maxed on 401K contributions.

[Broncojohnny]

Dave and I are watching to see if Molycorp blows up...

http://seekingalpha.com/article/244880-is-molycorp-really-worth-4-7b?source=from_friend

[mustangguy289]

Good plan. I'm already maxed on 401K contributions.

I just started my career so I am not quite ready to max out the 401K just yet... trying to payoff school debt also. My company begins matching my contribution in June so I am contributing the max they will match.

[OldGuysRule]

I just started my career so I am not quite ready to max out the 401K just yet... trying to payoff school debt also. My company begins matching my contribution in June so I am contributing the max they will match.

Still a great plan. The 20s and early 30s is where you should be absolutely maxing out (or working towards the max out). After you hit 40, while contributing is still important, the effects of compounding start to diminish.

[mustangguy289]

What is the maximum you can do?

[The King]

$16,500

[slow99]

What was the real life JT Marlin? Wiki link?

Don't think the makers of Boiler Room ever identified per say, but Sterling Foster is the firm that many think it's based upon. That's the firm my friend prosecuted and he was contacted when they were making the film to learn more about how Sterling Foster operated the scheme.

[Broncojohnny]

Dave and I are watching to see if Molycorp blows up...

http://seekingalpha.com/article/2448...ce=from_friend

Hmmm, get your bets on the table gentlemen, this could be a full blown sell off.

[momo]

Hmmm, get your bets on the table gentlemen, this could be a full blown sell off.

i could go for some puts. what expiration date?

ha, oh shit, nvm, looks like this is happening immediately.

[mustangguy289]

Still a great plan. The 20s and early 30s is where you should be absolutely maxing out (or working towards the max out). After you hit 40, while contributing is still important, the effects of compounding start to diminish.

I just did an online 401K for doing 4% every yr with employee matching 100% plus the 2.5% they give on top of that (which grows the longer you are with the company). I kept income constant with out raises and started at age 25, retire at age 65, and die at age 85. I put the return at 8%.

So if I never get a raise.. i will get over 13,000 a month gross income for the next 20 yrs after retirement. I don't really see why I would need more than that if you go into retirement debt free. There is a good chance you will die before getting to use it all.

Also, taxes will mostly like be much higher when you retire than they are now and since 401K is not taxed until you reach retirement age.... isn't there a good chance that will hurt you ? So instead of the idea of " maxing it out" wouldn't it be better to strategically plan and forecast what you will need?

Not arguing.. just want to discuss... does a person really need a salary of 30,000 a month at that age?

[slow99]

Is that money in nominal dollars...ie did you factor in inflation?

[mustangguy289]

Is that money in nominal dollars...ie did you factor in inflation?

I am assuming that is nominal and the only thing factored in is the rate of return.

[slow99]

I am assuming that is nominal and the only thing factored in is the rate of return.

Well at 4.5% inflation over 60 years, a dollar will 13x, so that's a huge consideration.