Comments on: Why I’m Buying into the Market and My 401(k) Challenge http://blog.smart401k.com/2008/10/10/why-im-buying-into-the-market-and-my-1-challenge/ News, Views and Education on Retirement Investing and the Financial Markets from Smart401k Tue, 27 Dec 2011 13:01:08 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Mark B. http://blog.smart401k.com/2008/10/10/why-im-buying-into-the-market-and-my-1-challenge/comment-page-2/#comment-1626 Mark B. Fri, 24 Oct 2008 00:46:04 +0000 http://blog.smart401k.com/?p=113#comment-1626 I accept your challenge and have increased my 401k contribution by 2%. I have been toying with the idea anyway, so this will give me the incentive to go ahead and do it! I accept your challenge and have increased my 401k contribution by 2%. I have been toying with the idea anyway, so this will give me the incentive to go ahead and do it!

]]> By: RED B. http://blog.smart401k.com/2008/10/10/why-im-buying-into-the-market-and-my-1-challenge/comment-page-2/#comment-1608 RED B. Thu, 23 Oct 2008 06:48:07 +0000 http://blog.smart401k.com/?p=113#comment-1608 I have increased mine by 1%. Scary as it is, I think right now is the time to do it! I have increased mine by 1%. Scary as it is, I think right now is the time to do it!

]]> By: Jeff S http://blog.smart401k.com/2008/10/10/why-im-buying-into-the-market-and-my-1-challenge/comment-page-2/#comment-1585 Jeff S Wed, 22 Oct 2008 13:33:11 +0000 http://blog.smart401k.com/?p=113#comment-1585 AJS, Even when you max out on your contributions of $15,500 you still have options available to you. The $15,500 limit only applies towards pre-tax contributions. If you are over the age of 50, an additional $5,000 can be contributed pre-tax as a catch up contribution (resulting in a pre-tax contribution of $20,500). If you max out in either case, you will want to see if your employer allows after tax contributions. The total that can be contributed to a 401k plan in 2008 is $46,000 or 100% of your compensation - whichever is less. This means if after-tax contributions are allowed, you can continue to contribute to your 401(k) and possibly continue to receive the company match. In 2009, the pretax contribution limit will go up an additional $500 and the total 401k contribution limit will be increased by $1,000. The other option would be for you to contribute to a Traditional IRA or Roth IRA. For 2008, those under 50 can contribute an additional $5,000 in an IRA while those over 50 can contribute $6,000. Both the Traditional IRA and Roth IRA are good platforms to continue putting money aside for retirement. AJS,

Even when you max out on your contributions of $15,500 you still have options available to you. The $15,500 limit only applies towards pre-tax contributions. If you are over the age of 50, an additional $5,000 can be contributed pre-tax as a catch up contribution (resulting in a pre-tax contribution of $20,500). If you max out in either case, you will want to see if your employer allows after tax contributions. The total that can be contributed to a 401k plan in 2008 is $46,000 or 100% of your compensation – whichever is less. This means if after-tax contributions are allowed, you can continue to contribute to your 401(k) and possibly continue to receive the company match. In 2009, the pretax contribution limit will go up an additional $500 and the total 401k contribution limit will be increased by $1,000.

The other option would be for you to contribute to a Traditional IRA or Roth IRA. For 2008, those under 50 can contribute an additional $5,000 in an IRA while those over 50 can contribute $6,000. Both the Traditional IRA and Roth IRA are good platforms to continue putting money aside for retirement.

]]> By: Paul G. http://blog.smart401k.com/2008/10/10/why-im-buying-into-the-market-and-my-1-challenge/comment-page-2/#comment-1534 Paul G. Mon, 20 Oct 2008 22:31:04 +0000 http://blog.smart401k.com/?p=113#comment-1534 I've accepted the challenge and increased my contribution 5%. As Warren Buffet wrote last week, if he's bullish on US equites then who am I to not follow his wisdoms. I’ve accepted the challenge and increased my contribution 5%. As Warren Buffet wrote last week, if he’s bullish on US equites then who am I to not follow his wisdoms.

]]> By: Jeff http://blog.smart401k.com/2008/10/10/why-im-buying-into-the-market-and-my-1-challenge/comment-page-2/#comment-1510 Jeff Sun, 19 Oct 2008 23:20:14 +0000 http://blog.smart401k.com/?p=113#comment-1510 I plan on increasing my 401K contribution tomorrow by 1% and would like to take advantage of the advice from smart401k.com I plan on increasing my 401K contribution tomorrow by 1% and would like to take advantage of the advice from smart401k.com

]]> By: Jim A http://blog.smart401k.com/2008/10/10/why-im-buying-into-the-market-and-my-1-challenge/comment-page-1/#comment-1508 Jim A Sun, 19 Oct 2008 22:28:03 +0000 http://blog.smart401k.com/?p=113#comment-1508 I accept the challenge also. I have experienced the bad choice of selling when I should have been buying, in the past, so I'm maxing out my pre-tax limit while the funds are basically "on sale" I hope it's a short bear market! I accept the challenge also. I have experienced the bad choice of selling when I should have been buying, in the past, so I’m maxing out my pre-tax limit while the funds are basically “on sale” I hope it’s a short bear market!

]]> By: JP Carcenac http://blog.smart401k.com/2008/10/10/why-im-buying-into-the-market-and-my-1-challenge/comment-page-1/#comment-1502 JP Carcenac Sun, 19 Oct 2008 11:10:20 +0000 http://blog.smart401k.com/?p=113#comment-1502 I gladly accept the challenge - Winners do! Thanks for the guidance. JP I gladly accept the challenge – Winners do!
Thanks for the guidance.
JP

]]> By: Jack A http://blog.smart401k.com/2008/10/10/why-im-buying-into-the-market-and-my-1-challenge/comment-page-1/#comment-1483 Jack A Sun, 19 Oct 2008 02:42:03 +0000 http://blog.smart401k.com/?p=113#comment-1483 I have increased my 401k contribution from 12% to 25%. Makes since to me to buy low and I,m not a finanical expert but I would say the market is low. Even if it goes lower, I believe todays market is a good buy. I'm 51 years old and won't be a seller for at least 9 years. To me the only ones losing money are the ones selling now while the market is low. I have increased my 401k contribution from 12% to 25%. Makes since to me to buy low and I,m not a finanical expert but I would say the market is low. Even if it goes lower, I believe todays market is a good buy. I’m 51 years old and won’t be a seller for at least 9 years. To me the only ones losing money are the ones selling now while the market is low.

]]> By: AJS http://blog.smart401k.com/2008/10/10/why-im-buying-into-the-market-and-my-1-challenge/comment-page-1/#comment-1464 AJS Sat, 18 Oct 2008 14:37:15 +0000 http://blog.smart401k.com/?p=113#comment-1464 I accept the challenge and have increased my 401k contribution from 15% to 16%. Until this challenge I had not considered going above 15% because I thought that was the maximum. After a little digging I found the limit to be $15,500 not a percent of income. I'm still learning... So my question now is what happens when I surpass the $15,500 limit in a given year? I accept the challenge and have increased my 401k contribution from 15% to 16%. Until this challenge I had not considered going above 15% because I thought that was the maximum. After a little digging I found the limit to be $15,500 not a percent of income. I’m still learning… So my question now is what happens when I surpass the $15,500 limit in a given year?

]]> By: Matt R http://blog.smart401k.com/2008/10/10/why-im-buying-into-the-market-and-my-1-challenge/comment-page-1/#comment-1440 Matt R Fri, 17 Oct 2008 21:31:45 +0000 http://blog.smart401k.com/?p=113#comment-1440 I accept the challenge, and have increased my contribution by 1%. I would also like to thank everyone at Smart401k for all the great information and advice over the last few weeks and months! I accept the challenge, and have increased my contribution by 1%. I would also like to thank everyone at Smart401k for all the great information and advice over the last few weeks and months!

]]> By: Alan S http://blog.smart401k.com/2008/10/10/why-im-buying-into-the-market-and-my-1-challenge/comment-page-1/#comment-1432 Alan S Fri, 17 Oct 2008 18:52:38 +0000 http://blog.smart401k.com/?p=113#comment-1432 I accept the challenge and have increased my 401K contribution by 5%. This will put me at the maximum $15,500 for the year. I know that this will pay off in the future since my time horizen is about 20 years. If the money going in equaled the money coming out stability of the markets should occur. Hopefully the funds I have will have a little more going in than out so that the fund manager may take advantage of the current sale prices on stocks. I accept the challenge and have increased my 401K contribution by 5%. This will put me at the maximum $15,500 for the year. I know that this will pay off in the future since my time horizen is about 20 years. If the money going in equaled the money coming out stability of the markets should occur. Hopefully the funds I have will have a little more going in than out so that the fund manager may take advantage of the current sale prices on stocks.

]]> By: Jeff Roberts http://blog.smart401k.com/2008/10/10/why-im-buying-into-the-market-and-my-1-challenge/comment-page-1/#comment-1429 Jeff Roberts Fri, 17 Oct 2008 17:12:03 +0000 http://blog.smart401k.com/?p=113#comment-1429 I'm in! Can we buy stock in Joe the Plumber? ;-) I’m in! Can we buy stock in Joe the Plumber? ;-)

]]> By: Dave Redding http://blog.smart401k.com/2008/10/10/why-im-buying-into-the-market-and-my-1-challenge/comment-page-1/#comment-1428 Dave Redding Fri, 17 Oct 2008 16:58:24 +0000 http://blog.smart401k.com/?p=113#comment-1428 I accept the challange to increase my 401K contribution by 1%. I have 20 years and this looks like a great time to buy when everthing is "on sale". I accept the challange to increase my 401K contribution by 1%. I have 20 years and this looks like a great time to buy when everthing is “on sale”.

]]> By: Dwayne Dietrich http://blog.smart401k.com/2008/10/10/why-im-buying-into-the-market-and-my-1-challenge/comment-page-1/#comment-1425 Dwayne Dietrich Fri, 17 Oct 2008 15:06:34 +0000 http://blog.smart401k.com/?p=113#comment-1425 Scott: I will take you up on the challenge. Your product is exemplary. I especially like the Self Directed Funds choices in addition to the Regular Allocation reccomendations. I will increase 1%. Thx, Dwayne Scott:

I will take you up on the challenge. Your product is exemplary. I especially like the Self Directed Funds choices in addition to the Regular Allocation reccomendations. I will increase 1%.

Thx, Dwayne

]]> By: Leo Carling http://blog.smart401k.com/2008/10/10/why-im-buying-into-the-market-and-my-1-challenge/comment-page-1/#comment-1421 Leo Carling Fri, 17 Oct 2008 12:33:27 +0000 http://blog.smart401k.com/?p=113#comment-1421 Scott, Thanks for the challenge...I'm on board with a 1% increase in my 401k. With so much blood in the water, my fellow sharks are gathering for the feeding frenzy. Let the fun begin. Leo Scott,

Thanks for the challenge…I’m on board with a 1% increase in my 401k.

With so much blood in the water, my fellow sharks are gathering for the feeding frenzy. Let the fun begin.

Leo

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