Log In

Your email is not your username

Register

If you were a member of the old Bodybuilding.com forums and would like to reuse your previous username, you can request it below. We use your email only for registration and do not store it. For more information, please see our Privacy Policy.

Confirm your email

A registration code was sent to your email. Enter it here.

Welcome

You have successfully setup your account.

Sign in

Quick Navigation Bottom Misc
Forum » New company automatically enrolls me in 401k. Is it worth it?
  1. Results 1 to 13 of 13
  2. Page 1 of 1

Thread: New company automatically enrolls me in 401k. Is it worth it?

post 1654176123 01-11-2022, 11:21 PM
-
#1
  1. taskmob
  1. taskmob
  3. Join Date: May 2015
  4. Age: 32
  5. Height: 5'11"
  6. Posts: 8,470
  7. Subscribers: 1
  8. Rep Power: 81

New company automatically enrolls me in 401k. Is it worth it?

I have 30 days to opt out. They'll take 3% off every paycheck and increase the amount by 1% every year capped off at 6%. I'm set to make around 51k for the year. Feel like I'm better off investing that money into Bitcoin and precious metals.
Fk the Good Poster Crew (Lockdev, Pink, Kimm, Wasps, Expatriot, Mulloway, Luc1fer, Smallpeter, gwg, Super Hercules, Bonobo, maori-rap, Based Bagel, ezmac31, Goobaa, Godfrd and many more). You know who you are.
post 1654176143 01-11-2022, 11:22 PM
-
#2
  1. FAPhaggot
  2. Hawaiian shirt hoarder
  1. FAPhaggot
  2. Hawaiian shirt hoarder
  3. Join Date: Nov 2015
  4. Posts: 24,226
  5. Rep Power: 185354
I doubt Bitcoin will be around in 50 years. I'm pretty fukking sure the Dow and S&P 500 will.
FA Crew
Always Pick 1 Crew

"Experience is something you get right after you need it."
post 1654176173 01-11-2022, 11:22 PM
-
#3
  1. DolphinPilot
  1. DolphinPilot
  3. Join Date: May 2015
  4. Posts: 49,469
  5. Rep Power: 367822
If they have a company match, then yes. It's free money.
post 1654176373 01-11-2022, 11:30 PM
-
#4
  1. bfdehewdbyywhn
  2. Registered User
  1. bfdehewdbyywhn
  2. Registered User
  3. Join Date: Oct 2019
  4. Age: 56
  5. Posts: 47,380
  6. Rep Power: 103861
put your check in doge or regret it for life

inflation already puts you negative with 401k
HTC is too skinny for me. Fat Girls only crew. serious
Chubby Chaser and Fat Girls Only crew Founder
post 1654176613 01-11-2022, 11:39 PM
-
#5
  1. neilsabo
  2. Registered User
  1. neilsabo
  2. Registered User
  3. Join Date: Feb 2007
  4. Posts: 5,905
  5. Rep Power: 12782
depends on the quality of your options in the 401k and the match, but it's typically a good idea

but i'd say if you have to ask randos for advice, it means you're trying to play on expert difficulty when you should probably just play on normal and take the zero effort 401k option
post 1654176673 01-11-2022, 11:43 PM
-
#6
  1. iloveus
  2. snailsrus
  1. iloveus
  2. snailsrus
  3. Join Date: Sep 2014
  4. Posts: 33,694
  5. Rep Power: 105430
It's free retirement money
Financial Freedom/Passive Income Crew
Entrepreneur Crew
MMA Crew
Cinematographer Crew
Photographer Crew
Ski/Snowboard Crew
Guns Crew
post 1654176923 01-11-2022, 11:54 PM
-
#7
  1. Mang1er
  2. bruh
  1. Mang1er
  2. bruh
  3. Join Date: Nov 2008
  4. Location: Detroit, Michigan, United States
  5. Posts: 1,638
  6. Rep Power: 13328
Id say contribute now up to what they will match. If they match 5% bump your contribution to that amount. By doing this right away you will never miss the money. Down the road you try and increase it and it will feel like taking a pay cut. Depending on who the servicer is for your 401k you should be able to select which investments you want, what funds, etc.
post 1654177723 01-12-2022, 12:33 AM
-
#8
  1. bsrkoacar2
  2. Registered User
  1. bsrkoacar2
  2. Registered User
  3. Join Date: Dec 2020
  4. Age: 56
  5. Posts: 16,614
  6. Rep Power: 113438
Does the company match a percentage of what you put in? My company matches 6% so I put 6% in and invest the rest elsewhere, would be stupid not to take the company money
post 1654178163 01-12-2022, 12:51 AM
-
#9
  1. FrankCostanza
  2. Serenity Now!
  1. FrankCostanza
  2. Serenity Now!
  3. Join Date: Sep 2019
  4. Posts: 17,091
  5. Rep Power: 48469
how much do they MATCH? with bitcoin you pay taxes with every trade. 401ks will have bitcoin options soon if they dont alreday. if you owe debt to anyone even the irs they cant force you to take money out of your 401k
I'm not here for rage. I'm here for revenge!
Anti Covid VAX Superhero
Mein power
Mein pleasure
Mein pain
Trump 2020
Trump 2024
post 1654178943 01-12-2022, 01:30 AM
-
#10
  1. misheru
  2. Registered User
  1. misheru
  2. Registered User
  3. Join Date: Feb 2015
  4. Location: United States
  5. Age: 32
  6. Posts: 2,356
  7. Rep Power: 8301
Originally Posted By FrankCostanza⏩
how much do they MATCH? with bitcoin you pay taxes with every trade. 401ks will have bitcoin options soon if they dont alreday. if you owe debt to anyone even the irs they cant force you to take money out of your 401k
Didn't know that last bit. Is it the same for IRA and tsp?
Embrace the Clown World to Excel in the Clown World - When in Rome do as Romans do

White people being so terrified of being perceived as racist/sexist/*ist that they’ll ruin each other’s lives over the slightest infraction is the greatest entertainment of our time.

If your politics involves anything other than the words "Don't Tread on Me", you're part of the problem - "left" or "right".
post 1654178953 01-12-2022, 01:30 AM
-
#11
  1. Mang1er
  2. bruh
  1. Mang1er
  2. bruh
  3. Join Date: Nov 2008
  4. Location: Detroit, Michigan, United States
  5. Posts: 1,638
  6. Rep Power: 13328
Originally Posted By FrankCostanza⏩
how much do they MATCH? with bitcoin you pay taxes with every trade. 401ks will have bitcoin options soon if they dont alreday. if you owe debt to anyone even the irs they cant force you to take money out of your 401k
Unless you get divorced.
post 1654179563 01-12-2022, 02:09 AM
-
#12
  1. buwbs
  2. Registered User
  1. buwbs
  2. Registered User
  3. Join Date: Dec 2020
  4. Posts: 14,390
  5. Rep Power: 25363
It's free REAL estate, it's not really.
post 1654179653 01-12-2022, 02:14 AM
-
#13
  1. WABeast
  2. Registered Guido
  1. WABeast
  2. Registered Guido
  3. Join Date: Nov 2016
  4. Location: Washington, USA, Chad
  5. Age: 31
  6. Posts: 9,190
  7. Rep Power: 59182
Invest it in NFTs instead
*Sicilian Crew*
*Super Straight Crew*
Quick Navigation Top Misc
Bookmarks
Digg.com
Digg
del.icio.us
del.icio.us
Stumbleupon.com
StumbleUpon
Google.com
Google
Facebook.com
Facebook
Posting Permissions
  1. You may not post new threads
  2. You may not post replies
  3. You may not post attachments
  4. You may not edit your posts