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Home > Finally, I have decided to join my company's 401k plan

Finally, I have decided to join my company's 401k plan

August 16th, 2007 at 02:33 am

I have finally decided to join the company's 401k investment program. This is with my part-time job, my full-time job does not offer 401k and I have to add to my Ira bi-weekly. Any how they match the first 4%, so of course I will deduct the 4%
I have decided to allocate my funds as follows and hope this is a good move:
-10% Wells Fargo Stable MMK (DSR1) low risk
-10% Pimco Return (PTRAX) Bond this has a medium to low risk
-10% Oakmark Equity (Oakbx) medium to high
-10%Van Kampen Comstock (ACSTX) high risk
-10% Wells Fargo Adv index fund (NVINX) high risk
-30% Dreyfus Appreciation (DGAGX) high risk
-10%Wells Fargo adv growth fund (nvlcx) high risk
-5%wells Fargo small cap (nvsox) high risk
-5% American funds (rerex) high risk

Posted in Miscellaneous | 12 Comments »

12 Responses to “Finally, I have decided to join my company's 401k plan”

  1. Nic Says:
    August 16th, 2007 at 12:57 pm 1187269044
    1187269044

    Congrats! A 4% match is a good start. Think of it as FREE $$$$$$.Smile

  2. katwoman Says:
    August 16th, 2007 at 03:56 pm 1187279788
    1187279788

    Good for you for jumping on the bandwagon!

    My brother went high risk on a 4K investment and years later it grew to 30K.

  3. terri77 Says:
    August 16th, 2007 at 05:26 pm 1187285209
    1187285209

    Good for you! Do plenty of research and reading about investing so you feel comfortable the choices that you have made.

  4. scfr Says:
    August 16th, 2007 at 06:33 pm 1187289221
    1187289221

    Congrats on joining the 401k!
    Have you tried running your allocation through the Morningstar X-Ray to see how it comes out? You don't have to use your real dollar amounts; you could just make up numbers to see how your percentages turn out. For example, you could enter $1,000 for each percentage you are allocating, for a pretend total investment of $100,000.

    http://portfolio.morningstar.com/NewPort/Free/InstantXRayDEntry.aspx?dt=0.7055475

  5. Amber Says:
    August 16th, 2007 at 07:51 pm 1187293883
    1187293883

    Thanks everyone, and scfr I will definately check out the site

  6. fern Says:
    August 16th, 2007 at 07:51 pm 1187293900
    1187293900

    While i'm not familiar with any of these funds indidvidually, i don't think an index fund would be considered high risk. My only comment would be to make sure there is no fund overlap in the objectives of those funds you've picked. If you over-diversify, then you may as well just stick it all in an index fund, which will always have lower annual expenses.

    I'd also check and compare the annual expense fees of each.

  7. reflectionite Says:
    August 26th, 2007 at 01:04 am 1188090294
    1188090294

    i always see stuff about 401k but because i live in australia, i have no idea what it is! what is it?!?!

  8. Amber Says:
    August 26th, 2007 at 04:08 am 1188101283
    1188101283

    I really don't know the ends and out ( I am still learning) but it is a saving plan towards retiremnt through your employer in which you contribute to before taxes upto a certain amount. In most cases the employer will match your contribution upto a certain percent. The funds in wich you/employer contribute are then invested (stocks, bonds, mutual funds)

  9. reflectionite Says:
    August 26th, 2007 at 08:19 am 1188116354
    1188116354

    oh i see Smile we dont have anything like that here. only super which your employer contributes 9% of your total earnings into a super fund. (it doesn't get deducted from your pay though, it's on top of it). i think some workplaces do 10%, and government employees get 13% or something like that.
    also if you put extra money in, the government contributes $1.50 for each $1 that you put in, up to $1500 per year.

  10. Amber Says:
    August 26th, 2007 at 12:20 pm 1188130819
    1188130819

    that is nice, here uncle sam wants his share of your saving

  11. reflectionite Says:
    August 27th, 2007 at 10:07 am 1188209232
    1188209232

    hmm. it's funny the different ways different countries do things, isn't it?
    like for example! we always whinge here because we only have 5 free tv channels. but you get a hundred or more with pay tv.
    i have heard that in america you get a lot of free channels. well. more than five anyway. haha.

  12. fern Says:
    August 27th, 2007 at 01:13 pm 1188220426
    1188220426

    The only "free" channels here are shopping channels where they try to sell something to you 24/7. Even to get just the 'basic' channels you have to pay for cable TV.

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