Anonymous
Post 08/25/2024 10:05     Subject: Long Term Financial Strategy
I’ve been in and out of work, at just over 50. Spouse is near 60. Neither of us have ever had an employer match, and we’ve been at more than a dozen companies/firms/orgs. We’ve always just done IRAS and put extra $ into stocks, but yes, by not working throughout marriage, we have less $$. But, the choice wasn’t financial only for us.
Anonymous
Post 08/25/2024 09:36     Subject: Long Term Financial Strategy
Anonymous wrote:Ex didn't even contribute to 401k to get the whole match. People just don't think about it or know any better.
I think 401k is a scam, but people don't know any better.
I took any extra money we had and I invested in Roths. We have several of them. Now I trade in Roths tax free. I have no plans to work unless very bored.
Now you see why I didn't care for him adding to 401k. Theirs is nothing good in it for you. No tax break and match can make up what it takes from most people.


You are not very bright. Do you know that Roth 401k plans exist? Many employers offer the option to invest in a traditional 401k or Roth 401k plan.

Anonymous
Post 08/24/2024 22:40     Subject: Long Term Financial Strategy
Anonymous wrote:Ex didn't even contribute to 401k to get the whole match. People just don't think about it or know any better.
I think 401k is a scam, but people don't know any better.
I took any extra money we had and I invested in Roths. We have several of them. Now I trade in Roths tax free. I have no plans to work unless very bored.
Now you see why I didn't care for him adding to 401k. There's is nothing good in it for you. No tax break and match can make up what it takes from most people.


You advocate not using the 401K but invest in a Roth instead. Let's think that through.

A 401K allows you to contribute $23,000 while a Roth allows only $7K. Assuming a 32% marginal tax rate, if you'd invested the $23K in a 401K, you'd get a tax deferral of $7400 which you can use to invest in a Roth. That's what I do and so do many others.
Anonymous
Post 08/23/2024 21:11     Subject: Long Term Financial Strategy
Anonymous wrote:Ex didn't even contribute to 401k to get the whole match. People just don't think about it or know any better.
I think 401k is a scam, but people don't know any better.
I took any extra money we had and I invested in Roths. We have several of them. Now I trade in Roths tax free. I have no plans to work unless very bored.
Now you see why I didn't care for him adding to 401k. Theirs is nothing good in it for you. No tax break and match can make up what it takes from most people.


This post doesn’t make sense. A 401k isn’t a scam. It’s an effective tax deferral tool. More importantly, the contribution limit is far lower for a Roth IRA than a 401K, so it makes little sense to use it as an alternative. Smart people use both. I’m guessing you have zero clue what you’re talking about.
Anonymous
Post 08/23/2024 20:08     Subject: Long Term Financial Strategy
Anonymous wrote:Ex didn't even contribute to 401k to get the whole match. People just don't think about it or know any better.
I think 401k is a scam, but people don't know any better.
I took any extra money we had and I invested in Roths. We have several of them. Now I trade in Roths tax free. I have no plans to work unless very bored.
Now you see why I didn't care for him adding to 401k. There's is nothing good in it for you. No tax break and match can make up what it takes from most people.
What?! 401-k is a scam?? Say no more, you clearly don't understand what you are doing. I favor Roth accts too, but 401-ks with the match are hard to beat. Obviously, if you have the choice one would favor the Roth 401-k but if not available, the traditional 401-k is still a good deal. I have over $1.3 M in mine. get educated please.
Anonymous
Post 08/19/2024 14:59     Subject: Long Term Financial Strategy
Anonymous wrote:Ex didn't even contribute to 401k to get the whole match. People just don't think about it or know any better.
I think 401k is a scam, but people don't know any better.
I took any extra money we had and I invested in Roths. We have several of them. Now I trade in Roths tax free. I have no plans to work unless very bored.
Now you see why I didn't care for him adding to 401k. Theirs is nothing good in it for you. No tax break and match can make up what it takes from most people.


Somehow I don’t think you’re the clearheaded investor you think you are.
Anonymous
Post 08/19/2024 13:51     Subject: Long Term Financial Strategy
Ex didn't even contribute to 401k to get the whole match. People just don't think about it or know any better.
I think 401k is a scam, but people don't know any better.
I took any extra money we had and I invested in Roths. We have several of them. Now I trade in Roths tax free. I have no plans to work unless very bored.
Now you see why I didn't care for him adding to 401k. There's is nothing good in it for you. No tax break and match can make up what it takes from most people.
Anonymous
Post 08/19/2024 13:25     Subject: Long Term Financial Strategy
Anonymous wrote:Have you ever calculated how much you spent on childcare, outsource services and meals outside of the home?


I worked throughout my kids’ childhood out of financial necessity and I didn’t make more that 60k until they were in school. It STILL made financial sense for me to work.

That’s not to say women shouldn’t SAH if they want to and their spouses want them to. But it very rarely saves money to have a parent SAH.
Anonymous
Post 08/19/2024 11:09     Subject: Long Term Financial Strategy
Have you ever calculated how much you spent on childcare, outsource services and meals outside of the home?
Anonymous
Post 08/19/2024 10:00     Subject: Long Term Financial Strategy
Spouse works part time as an independent contractor and one of the biggest benefits is being able to contribute both the employee and employer share to a solo 401k. So, yeah, I’ve thought about what we would be missing if she dropped to full SAHM.
Anonymous
Post 08/19/2024 09:55     Subject: Long Term Financial Strategy
Spouse is disabled. Have we considered it? No. What would it change?
Anonymous
Post 08/19/2024 09:52     Subject: Long Term Financial Strategy
Question for those families that on are on one income (spouse doesn't work).

Have you guys ever considered how much the spouse maybe losing out in terms of savings (401k + Match)?