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Discuss Ha Ha Ha Today is the rich man's hell day at the Non Wrestling Talk within the Wrestling Talk Forums; My employer matches my contribution at 50% on the first 6% of my income, so ...
  1. #10
    World Champ BonnieJ2's Avatar
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    Default Re: Ha Ha Ha Today is the rich man's hell day

    My employer matches my contribution at 50% on the first 6% of my income, so it'd be like turning down a 3% raise every year if I didn't invest. Do you have a better idea Big, because I don't think Social Security is a safe bet either. I plan to be old and cranky for a good long time, so I need to have a plan.
    "All my life I have tried to pluck a thistle and plant a flower wherever the flower would grow in thought and mind." -- Abraham Lincoln

  2. #11
    Big
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    Default Re: Ha Ha Ha Today is the rich man's hell day

    Bonnie, I don't think you should trust the stocks like 401K either. These people take your money and make a quick buck with it but you look 30 years down the road and so what? Say you get $80K in 30 years but the the prices on many valuable things like food, energy and so on have risen 10 fold. Say to buy food for a week at a supermarket in 30 years you need 1,000 dollars. So, your $80K are worth 80 weeks of food. And you spent 30 years saving them.

    I don't think they even count food and energy as part of the inflation. For everything else, they just look at the average. I think you should buy some property and save money that way or do something else with the money. Heck, housing jumped 300% in a few years where I live.
    What I am saying is 401K is ok but don't stress out over it. I don't think 30 years from now your savings will match inflation very well.

  3. #12
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    Default Re: Ha Ha Ha Today is the rich man's hell day

    Today is a great day to buy stocks!! There are a LOT of great deals out there now!

  4. #13
    World Champ BonnieJ2's Avatar
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    Default Re: Ha Ha Ha Today is the rich man's hell day

    Here are my fund choices:
    SSgA Target Retirement Income
    SSgA Target Retirement 2010
    SSgA Target Retirement 2015
    SSgA Target Retirement 2020
    SSgA Target Retirement 2025
    SSgA Target Retirement 2030
    SSgA Target Retirement 2035
    SSgA Target Retirement 2040
    SSgA Target Retirement 2045
    SSgA Yield Enhanced STIF (YES)
    SSgA Bond Market Index
    American Fundamental Investors
    SSgA S & P 500 Index
    Domini Social Equity Fund
    Legg Mason Large Cap Growth
    Hartford Midcap Fund
    SSgA Russell 2000 Index Fund
    Hartford Small Company
    SSgA Daily EAFE Index Fund
    Dodge & Cox Intl Stock Fund
    American Funds New Perspective
    SSgA Emerging Markets Fund

    The target retirement funds are new and I don't do that. The funds that emulate the S&P 500 and Russell2000 have a pretty low cost because they have smaller management expenses. You have to weigh the returns against the costs. I watch how the funds are doing fairly closely, and I can switch it around as often as I want. There are a few funds that have penalty fees if you switch it around too often, but most don't.
    I've done a lot better than 80k in 15 years. I'm not saying you should put all your eggs in the 401K basket, but don't overlook it either.
    "All my life I have tried to pluck a thistle and plant a flower wherever the flower would grow in thought and mind." -- Abraham Lincoln

  5. #14
    Big
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    Default Re: Ha Ha Ha Today is the rich man's hell day

    It looks like you know what you are doing you business stocklady bonnie. I don't think you have to worry about living in my basement.

  6. #15
    World Champ BonnieJ2's Avatar
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    Default Re: Ha Ha Ha Today is the rich man's hell day

    It's always good to have a plan B.
    "All my life I have tried to pluck a thistle and plant a flower wherever the flower would grow in thought and mind." -- Abraham Lincoln

  7. #16
    Super Moderator UGLY's Avatar
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    Default Re: Ha Ha Ha Today is the rich man's hell day

    Big you should not want anyone to lose there money or for the stock market to fall. The Rich people pay the middle class and the lower class and in my case no class. THe stock market is a large piece of our economic structure and many people rely on it for income. If Home depot stock plumets it not only hurts Arthur Blank but it hurts his empoyees that hold stock in home depot, so everyone loses not just the rich.

  8. #17
    Super Moderator UGLY's Avatar
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    Default Re: Ha Ha Ha Today is the rich man's hell day

    Believe it or not some rich people realy care about there employees and want to help them and help them build there own wealth.

  9. #18
    Olympic Champ Flop The Nuts's Avatar
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    Default Re: Ha Ha Ha Today is the rich man's hell day

    Quote Originally Posted by UGLY View Post
    Believe it or not some rich people realy care about there employees and want to help them and help them build there own wealth.
    Even though that sounds like an obvious statement of fact, you're going to have a hard time selling that to some of the posters on these boards, Ugly.

    There are people on the political boards who will argue about whether the sun rises in the east.

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