Suze inspired me to increase 401K

iVillage Member
Registered: 07-05-2006
Suze inspired me to increase 401K
20
Fri, 01-09-2009 - 2:31pm
I just went online and increased my husbands 401K contribution. It was stressful, it was nerve racking. I had to go into my files and find the paper that told me how to do it. It was a little confusing, but I did it! I increased his contribution from 3% to 8% because his company matches 1/2 up to 8% of his pay. I know that we can live without seeing this money in his check every week, but I'm sure it will be a little depressing to see that first smaller check come in. I did this because of the free book download I'm reading from Suze Orman. I know it's the smart thing to do...

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iVillage Member
Registered: 07-05-2006
Fri, 01-09-2009 - 10:37pm
I think your emails must go into my junk mail or something. I never got it...But I downloaded it from the link you put up earlier in the day.

iVillage Member
Registered: 01-06-2009
Fri, 01-09-2009 - 11:33pm

You should have sent me your real email address files that size will not to Yahoo.


Mary Ann


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iVillage Member
Registered: 03-25-2003
Fri, 01-09-2009 - 11:38pm
Suze also preaches that money you need in the next 5-10 (or maybe she just says 10... I can't remember and haven't read the new book yet) years SHOULD NOT be in the stock market. Maybe someone who is retiring soon shouldn't be investing in the mutual funds offered in their 401(k), but I think all of the 401(k)s DH and I have contributed to also had a money market fund we could have put our money into. The other thing we need to remember is if we retire at 65 there's a decent chance that money will have to last 15 or 20 or even more years so it's a good idea to leave some of it in the stock market so it can continue to grow.


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iVillage Member
Registered: 07-05-2006
Sat, 01-10-2009 - 7:52am
That's the only email address I have. Is the book I downloaded (the 2009 action plan) yesterday the same one?

iVillage Member
Registered: 12-29-2008
Sat, 01-10-2009 - 11:24am

I appreciate the thoughtful responses to my post regarding 401Ks.

iVillage Member
Registered: 03-17-2003
Sat, 01-10-2009 - 1:12pm

Anytime an employer offers matching funds that's free money.

iVillage Member
Registered: 08-22-2008
Sat, 01-10-2009 - 1:13pm

Very interesting discussion.

iVillage Member
Registered: 07-05-2006
Sat, 01-10-2009 - 2:01pm
This is also an interesting discussion for me, the Original Poster. I can see both points of view here and i think they are both valid. These are very strange times...shady investors, weird things happening to companies we all thought were stable, I'm not entirely sure if Armegeddon isn't coming, like my mother and aunt keep telling me! I am jumping into my 401K by faith here and putting our hard earned money into a retirement plan, getting the full benefit of the employer match and hoping that in 30-40 years, things will pan out, that Earth will still exist! But there seems to be so many variables. What if I didn't choose the right fund? What if the percentage I put in each fund is off? AHHh - so many questions. So what do people think is a good recipe for retirement investing? Suze said that 90% in a decent, stable, US mutual fund and 10% in a world fund is good. And for lack of knowing what to do, I chose to put 90% in the fund we were currently putting money into, the Barclays life investment - 2040. Then I put 10% into A European, pacific basin fund. I started simple and figured that as I went along and learned more about these funds, I could potentially diversify. But I know nothing about investing. I do have the option to put money into a stable fund...I guess this would sort of be like a money market? I know people are probably nervous to give out financial/investing advice, but any information would help me be a better educated investor.

iVillage Member
Registered: 12-29-2008
Sat, 01-10-2009 - 2:02pm

These are historic times...and the rules have changed.


Just a few years ago, it would have been ridiculous not to participate in a 401K or contribute to an IRA.

iVillage Member
Registered: 12-29-2008
Sat, 01-10-2009 - 4:05pm

It sure looks funny that I'm responding to my own post!

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