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| quote: | Originally posted by Trancealot
Yeah my previous place of work had fidelity..
you needed to work for atleast 1 year. After than you can join the 401k. Then after 1.5 years they would of contributed 6%. You think this would of worked out for me if I stayed even though I left had which had nothing to do with the 401k. All I recall is for each quarter statement I received I was always going down a little and this was in 05. If I still did it up to now would I have lost alot of it even with them contributing??I was invested in minimal risk as I was young which they advised me. |
See, when you put your money in these mutual funds, you're giving your money to some money manager, who 4/5 of them under perform against the market. I only put in the money up to the amount I get the contributions, and I put the money in a bond fund or money market, something like that. Forget stock funds. They are a joke.
If you don't know anything about investing, just buy index funds (ETFs). Invest with the market. Don't try to beat it. Just google Dow Jones ETF, S&P500 ETF, VTI...Buy and forget...Give it at least 10 years, and if you have 30 or 40 years until retirement, you're index funds will have had time to appreciate, while collecting dividends, and you also would have been continually contributing too. There is no reason why you shouldn't be a millionaire by the time you retire...of course if you've got the 30 years of patient saving.
Notice how it's almost always the savers who are wealthy...
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