Quote:
Originally Posted by marcel27208
how to invest? im interested in opening up a 401k....ive been in business about 6years, in my 20's and know i need(ed) to start one...is the any info online that i can look at or what? any info would be greatly appreciated........
Go to Google and type in
401k and you will find tons of info.
If you are self employed you have all kinds of options.
If you work for a company your plan will be administered by a place like Fidelity but under your company's rules (Fidelity ain't the only one).
If your company matches your contributions for a percentage of every dollar you put in, take it, and contribute the max they will match. Contributing more helps too because
before tax 401k contributions reduce your taxable income at tax time...it's a win-win.
Anyone who works for a company that matches and does not participate in the 401k is an idiot because you're losing out on basically free matching money. Also, with most companies nowadays abandoning pensions your 401k may very well be all you have to retire on when you retire...so max that thing out!
I personally am *not* factoring Social Security into my retirement...when I get to retire it may not be there anymore.
