401K...I did it again for the Third Year


Tony said:
wouldn't it suck if you died before withdrawal time? :lol:
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Ha...but I thought of that. I have my dad listed as the bene so if I pass, he gets it now since he's older than 67 1/2....Next question!!!

It's a lower tax bracket for me.
 

pv_symbiotic said:
Ha...but I thought of that. I have my dad listed as the bene so if I pass, he gets it now since he's older than 67 1/2....Next question!!!

It's a lower tax bracket for me.
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yeah but you'll be dead, and you said saving like that cost you some sacrifice.
well heck you could be using some of that money to enjoy life while you're here.

Like everyday I see old men buying fabulous expensive cars with CASH.

That's nice but damn Pops be half dead, drive for 1-3 years then be 100% dead, someone else cruising in his car
and they be young.

Pops shoulda been financed that car and enjoyed it longer
I'm not saying be stupid cause you might live to be 100 but
tomorrow is not promised, better enjoy some things now.
 
Tony said:
yeah but you'll be dead, and you said saving like that cost you some sacrifice.
well heck you could be using some of that money to enjoy life while you're here.

Like everyday I see old men buying fabulous expensive cars with CASH.

That's nice but damn Pops be half dead, drive for 1-3 years then be 100% dead, someone else cruising in his car
and they be young.

Pops shoulda been financed that car and enjoyed it longer
I'm not saying be stupid cause you might live to be 100 but
tomorrow is not promised, better enjoy some things now.
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I disagree because tomorrow is promised for someone. I have mechanisms in place for someone to be rewarded for the sacrifices that I made. That's all that matters. Reward due to sacrifice.

The max has been hit and now it's time to ball.
 
pv_symbiotic said:
I disagree because tomorrow is promised for someone. I have mechanisms in place for someone to be rewarded for the sacrifices that I made. That's all that matters. Reward due to sacrifice.

The max has been hit and now it's time to ball.
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I wish you nothing but the best, and I won't talk Bible
over here.

Maybe I'm trippin' because I've seen kids and families go through fortunes in
months what it took someone a lifetime to build.

you said it's time to ball, I'm with that
take care of the future then ball HAM. :tup:
 
pv_symbiotic said:
I've done it again for the 4th year. The 401K max has been hit. I'm on easy street and my pockets will be swollen like they have the mumps.

Never hit it this early in the year before. Took great sacrifice but well worth it!!!
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Congratulations.

It has been said that a person with the discipline to save $10,000 can become wealthy in this country. You may just have what it takes.

Don't listen to your detractors. They remind me of the story of The Grasshopper and The Ant. Let these grasshoppers do what they do. You keep making good decisions.

:tup:

Just one thing, I would consider taking the next step. Going a little bit further. Retirement funds are only just one part of your entire financial picture.

You're doing well, though. Keep it up.
 
Tony said:
I wish you nothing but the best, and I won't talk Bible
over here.

Maybe I'm trippin' because I've seen kids and families go through fortunes in
months what it took someone a lifetime to build.

you said it's time to ball, I'm with that
take care of the future then ball HAM. :tup:
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Ballin is a phrase that I like using. I'm not going on a spending spree. I stacks my paper. For example since the 401K is done, I went out and got an iTouch 64GB 4gen. Calm down, I didn't buy it, I used my rewards points.

If you knew how poor I was the first 6 months of the year, you would understand that I plan to hold on my paper for a long time.

I'm stacking my paper. Because I always enjoyed saying "...my pockets are swollen like they have the mumps..."JT Money Poison Clan.
 
That time of year again. 401k contributions have been maxed out to legal limit. This year was EXTREMELY tough because i purchased a house this year so my expenses went through the roof.

It's time again.

Take home pay skyrockets since I contributed the maximum amount per paycheck since Jan 1 2012.
In a lower tax bracket and home owner. Looking so forward to tax return next year.

Now that I've been disciple enough to stay within my budget, my take home is going up so I have more paper to stack.
 
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Let me ask you a question, when you say maxed out, do you just go ahead and put it all up front at the beginning instead over spread out over the year? By the way good job.
pv_symbiotic said:
That time of year again. 401k contributions have been maxed out to legal limit. This year was EXTREMELY tough because i purchased a house this year so my expenses went through the roof.

It's time again.

Take home pay skyrockets since I contributed the maximum amount per paycheck since Jan 1 2012.
In a lower tax bracket and home owner. Looking so forward to tax return next year.

Now that I've been disciple enough to stay within my budget, my take home is going up so I have more paper to stack.
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Never mind I find your answer. Thanks!!!!
pv_symbiotic said:
By MAX, I mean the MAX that the (IRS) law will allow you to put in. Not the ignorance that the company matches. I wish I understand financing back then like I know now.

I mean, it's illeagal to put anymore in the 401K. You fall to a lower tax bracket and you take home goes up, because you have put all that you can put in the 401K. It's a DAMN good feeling, but it requires some disciple. Because it's going to hurt in the beginning but when you hit the max that the law allows, your pockets become swollen. I like hit the max before month 10.
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CEE DOG said:
Okay I got you. I was just curious. I have read so many books and have seen a ton of articles that say don't do this. Only put in the max your company matches up to. I totally agree with your view. I have learned you can't take everything those so called experts say for gold.
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CEE DOG said:
Let me ask you a question, when you say maxed out, do you just go ahead and put it all up front at the beginning instead over spread out over the year? By the way good job.
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I put the money in up front instead of spreading it through the year because it requires financial discipline. The main reason that I do it because I LLLOOOVVVEEE watching my take amount jump after the 401k is down. I look at my direct deposits see that LARGE amount and think to myself. I'm balling because the 401k has been maxed out!

I oh so wish someone would have told me this when I first graduated. I would have had over a million dollars in my 401K (after the dot com bust and economy troubles of 2005-12). Plus I would have developed into a better spender.
 

The smart move was to max 401k contributions and moving into a lower tax bracket.

Now, that goal is over, I can start working on the price I want to pay for a living room set that caught my eye.

Wondering what next years tax refund check will look like, since purchased a house and maxed out 401k contributions.

Goal is to avoid being one of the black consumers and maintain being one of the blacks with economic influence.
 
Today is payday and the last withdraws out of my check for 2013.....Hit the 401k max!!! I'm in a lower tax bracket!!!

Exhausted from doing it, but happy to keep this process going forward. Any year down!!!
 
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I shifted my TSP around this year. I switched most of my money from the G Fund (basically treasury bonds and other slow growth mechanisms for those not in the feds) into the S Fund (designed to mimic a mutual fund based on the S&P 500) and C Fund (consortium of small cap stocks). I am going to ride the market for a while I decided. Even with my sharebuilder account, I am going to let it ride out for a while.
 
jsupop33 said:
I shifted my TSP around this year. I switched most of my money from the G Fund (basically treasury bonds and other slow growth mechanisms for those not in the feds) into the S Fund (designed to mimic a mutual fund based on the S&P 500) and C Fund (consortium of small cap stocks). I am going to ride the market for a while I decided. Even with my sharebuilder account, I am going to let it ride out for a while.
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Why in the hell did you have your money in the G Fund? Hopefully you didn't have it in there for an extended period of time. You are way too young to have money in there.
 
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