401k question (pfa bankers)

[Sheesfaced]

Sorry but this is terrible advice for a 401k contribution. Set your contribution at 10% of your income immediately and then fuck off for twenty years.

Generally speaking I do agree with this but if it’s obvious the market is going to crumble I don’t see a big issue with pulling out of stocks. I’ve done this multiple times over the years and been completely wrong but so long as you get it back in and working it’s not the worst thing in the world.

Best thing I ever did was sideline everything in mid 2007..... that one decision has reaped me a lot of benefit.

The problem with this is it’s often not obvious when the market is going to crumble, and also equally as difficult to tell when it’s done crumbling. When factoring in human emotion into the equation it becomes that much more difficult to get it right consistently.

That said I do agree it can make sense to keep some money in cash/FI as “dry powder” for when you think they is a good buying opportunity. But by and large trying to time the market for long term investing is a fools errand.

[CrackPipes and Kakfights]

If some retail broker offers to give you leverage, please head for the hills. More specifically don’t go anywhere near options. Those ponytailed greaseballs are on the other side, unhedged and wanting to rape you. Just say “know.” As I I “know” any education from some broker is a financial roofie.

Just keep it simple

[Texter]

Generally speaking I do agree with this but if it’s obvious the market is going to crumble I don’t see a big issue with pulling out of stocks. I’ve done this multiple times over the years and been completely wrong but so long as you get it back in and working it’s not the worst thing in the world.

Best thing I ever did was sideline everything in mid 2007..... that one decision has reaped me a lot of benefit.

The problem with this is it’s often not obvious when the market is going to crumble, and also equally as difficult to tell when it’s done crumbling. When factoring in human emotion into the equation it becomes that much more difficult to get it right consistently.

That said I do agree it can make sense to keep some money in cash/FI as “dry powder” for when you think they is a good buying opportunity. But by and large trying to time the market for long term investing is a fools errand.

The day after Bernie wins the whitehouse.

[MumblesBadly]

The problem with this is it’s often not obvious when the market is going to crumble, and also equally as difficult to tell when it’s done crumbling. When factoring in human emotion into the equation it becomes that much more difficult to get it right consistently.

That said I do agree it can make sense to keep some money in cash/FI as “dry powder” for when you think they is a good buying opportunity. But by and large trying to time the market for long term investing is a fools errand.

The day after Bernie wins the whitehouse.

If Bernie is nomimated, the market will tank long before the election in anticipation of him gaining enough power to correct the deficit-exploding gift-to-the-rich the Trump tax cut effected.

[Goodpoop]

Wells Fargo is a total shit company!

Do they match your first 4%? How long until you are vested? Wachovia matched 6%.

I worked for Wachovia for 10 years and got the hell out of there when Wells bought them. They are truly a horrible company to work for and bank with. Only company that has to run ads to say they are sorry for being so shitty. What dept. are you working in?

[gauchojake]

Wells Fargo decided it's reputation was so bad it could hire Garrett. Facebook's crypto division is currently recruiting him I hear.

[duped_samaritan]

What kind of snake is this?

bump

[FRANKRIZZO]

Can you not see?Garret is a world class poker player. Nothing on his resume to prove it is just bad luck. He does have 1 wsop entry .

[Pooh]

If some retail broker offers to give you leverage, please head for the hills. More specifically don’t go anywhere near options. Those ponytailed greaseballs are on the other side, unhedged and wanting to rape you. Just say “know.” As I I “know” any education from some broker is a financial roofie.

Just keep it simple

401k does not allow margin or options.

[Pooh]

Invest in the cash fund until the market drops at least 10%...buying at the all time high is really bad timing.

I generally agree with this as we are at all time highs and haven't had a recession in ten years and we're over due honestly. However, since he's just starting out I can see it both ways. If he had a large amount sitting in cash and wanted to deploy this would not be the time for that. 10% set it and forget it no worries just know it'll likely be negative at some point.