Comments on: Year End Retirement Plan Moves http://cashmoneylife.com/year-end-retirement-plan-moves/ Money Management, Small Business, Career Thu, 09 Feb 2012 19:08:34 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Ryan http://cashmoneylife.com/year-end-retirement-plan-moves/#comment-16880 Ryan Tue, 03 Mar 2009 00:40:27 +0000 http://cashmoneylife.com/?p=1136#comment-16880 <strong>Diane: </strong> I would recommend holding the course - you have 11 years, and our economy and the world economy will be a different place by then. Selling your holdings now will only lock in your losses and not give you a chance to earn back your losses. As for the IRA, there isn't going to be much difference from your 401k. They are both only retirement vehicles. It's where you put your money (which investments you buy) inside those vehicles that matter. You can probably purchase very similar holdings in your 401k to what you could buy in an IRA. I plan on riding out the storm and hope that my holdings increase in value in the coming decade. Diane:
I would recommend holding the course – you have 11 years, and our economy and the world economy will be a different place by then. Selling your holdings now will only lock in your losses and not give you a chance to earn back your losses.

As for the IRA, there isn’t going to be much difference from your 401k. They are both only retirement vehicles. It’s where you put your money (which investments you buy) inside those vehicles that matter. You can probably purchase very similar holdings in your 401k to what you could buy in an IRA.

I plan on riding out the storm and hope that my holdings increase in value in the coming decade.

]]> By: Diane http://cashmoneylife.com/year-end-retirement-plan-moves/#comment-16878 Diane Mon, 02 Mar 2009 23:47:02 +0000 http://cashmoneylife.com/?p=1136#comment-16878 I retire in 11 years. My 401k is losing rapidly. I am in a 2020 plan. Should I hold the course or switch to an IRA? I retire in 11 years. My 401k is losing rapidly. I am in a 2020 plan. Should I hold the course or switch to an IRA?

]]> By: stephen roland http://cashmoneylife.com/year-end-retirement-plan-moves/#comment-15641 stephen roland Mon, 08 Dec 2008 03:31:24 +0000 http://cashmoneylife.com/?p=1136#comment-15641 This is extremely sound advice! The best thing you can do right now is put money in to your retirement funds! This is extremely sound advice!

The best thing you can do right now is put money in to your retirement funds!

]]> By: money-saving-tips http://cashmoneylife.com/year-end-retirement-plan-moves/#comment-15226 money-saving-tips Sat, 15 Nov 2008 18:57:05 +0000 http://cashmoneylife.com/?p=1136#comment-15226 Timely advice. The theory of "dollar cost averaging" says that boosting your contribution levels now, while the market is in a slump, is a great idea. Or stated another way, "buy low" is great advice :) Timely advice. The theory of “dollar cost averaging” says that boosting your contribution levels now, while the market is in a slump, is a great idea. Or stated another way, “buy low” is great advice :)

]]> By: Ryan http://cashmoneylife.com/year-end-retirement-plan-moves/#comment-15168 Ryan Thu, 13 Nov 2008 02:21:57 +0000 http://cashmoneylife.com/?p=1136#comment-15168 <strong>John: </strong>I agree 100%. I've increased my contributions as well, and will try to front load my contributions next year. I use a Roth IRA and a Traditional 401(k). So I get a tax break now and in retirement. John: I agree 100%. I’ve increased my contributions as well, and will try to front load my contributions next year. I use a Roth IRA and a Traditional 401(k). So I get a tax break now and in retirement.

]]> By: John Hunter http://cashmoneylife.com/year-end-retirement-plan-moves/#comment-15161 John Hunter Wed, 12 Nov 2008 23:18:34 +0000 http://cashmoneylife.com/?p=1136#comment-15161 In fact I am increasing my retirement contributions. While it is true Roth IRAs do not offer tax deductions the advantage of not owing taxes in the future on the Roth IRA withdrawals is a huge benefit. Especially since the increasing debt of government is making increasing rates in the future to pay for the high spending today more and more likely. You can't expect to spend beyond your means forever. In fact I am increasing my retirement contributions. While it is true Roth IRAs do not offer tax deductions the advantage of not owing taxes in the future on the Roth IRA withdrawals is a huge benefit. Especially since the increasing debt of government is making increasing rates in the future to pay for the high spending today more and more likely. You can’t expect to spend beyond your means forever.

]]> By: Jarhead http://cashmoneylife.com/year-end-retirement-plan-moves/#comment-15146 Jarhead Wed, 12 Nov 2008 17:05:17 +0000 http://cashmoneylife.com/?p=1136#comment-15146 INVEST INVEST INVEST INVEST INVEST INVEST

]]> By: Miranda http://cashmoneylife.com/year-end-retirement-plan-moves/#comment-15141 Miranda Wed, 12 Nov 2008 14:09:51 +0000 http://cashmoneylife.com/?p=1136#comment-15141 Thanks for the great post! We've upped our retirement plan contributions at this time, hoping to take advantage of the low prices. We have a 30 year timeframe, so we're thinking that this is a great time to get a little more for a little less. Thanks for the great post! We’ve upped our retirement plan contributions at this time, hoping to take advantage of the low prices. We have a 30 year timeframe, so we’re thinking that this is a great time to get a little more for a little less.

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