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3 years, 4 months ago

Is this a good time to put MORE money into my 401k? Company matches 6%. Should I go higher if I can afford?

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drmatt | 3 years, 4 months ago
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My opinion is that it's ALWAYS a good time to put money into a 401k (unless you are approaching 65). Tax free investing AND your company matches? Great stuff! Long-term investing...

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shakespearegeek | 3 years, 4 months ago
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Yes, assuming that a) you're not approaching retirement age and b) you don't go crazy. You're not going to recoup the profits on that money for a long time, and you might be better served with different investments that you can put your hands on sooner. (Note that I am speaking entirely of the "more than company match" part you mentioned - I'd certainly max out the company match if you can afford it, under any circumstances!)
source(s):
5 years building web sites at www.scudder.com (though heaven knows what they call themselves now...)

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answerman | 3 years, 4 months ago
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The market is likely a fairly cheap buy right now for long-term investors. Increasing contributions to the most that you can afford isn't a bad idea. After the year is over, it'd probably be good to throttle down to the company maximum matching and using any spare money you have on other things.


That said, DOW8200 (and perhaps even DOW7500) are still possibilities over the short-term.

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drivel | 3 years, 4 months ago
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The best time to put money into the market is when things look the worst. The worst time to put money into the market is when things look the best.

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