what do you think of 401 (k) retirement plan?

Philippines
August 2, 2008 9:00am CST
do you really earn benefits from here?
3 responses
@Qaeyious (2362)
• United States
18 Oct 08
I give the caveat that I am not a licensed investment professional. And I am confident I can tell everyone, If your IRA is based on Stocks, or Bonds, or whatever, it will go according to the market, and if your 401k is based on Stocks, or Bonds, or whatever, it will still go according to the market. The plan type determines how the IRS sees it. What that plan invests in determines how well it does - if it is primarily stocks, if stocks do well, it goes well ... otherwise ... if it is primarily bonds, and bonds do well, it goes well, otherwise ... The plan type does not determine the earning potential - the vehicle does - stocks, bonds, mutual funds, what have you. And if you have the magic formula for today's market - I would like to hear your suggestion - Because I can assure you, I don't have it.
1 person likes this
@anh101 (1380)
23 Nov 15
@Qaeyious i am a Vietnamese, and sometimes I think we don't have any stable policy here in Vietnam. Actually, i don't believe after working for years and put my savings into Vietnamese Social Security cuz I am afraid I don't get it back as many people here also. I prefer not to invest on that. I love to invest in educating myself, and working more, but not too much, and enjoying life. After all, we all working for a living, so why not just live the best day. Cuz I have been working in constructing, steel making plant, and I see many people work so hard, and just don't know how to enjoy. For example, Is anything else like mylot that makes us both commenting, enjoying, knowing a litte about other people around the world and earn a little money. After that, what you gonna do with the money? I guess if i have I will invest on another thing, and never let it be withdrawn from there
• United States
2 Aug 08
With our economy constantly swinging, I think that an IRA would be better since they are not losing money. These economic times mean that we have to either save in an IRA or probably purchase real estate to keep your money's value intact.
1 person likes this
• Philippines
3 Aug 08
real estate is a good investment
• United States
18 Aug 08
Well, the 401k for many of us is the ONLY way to put away money through our company, aside from Social Security. It is not the best way to save but its better than nothing in many cases. I am now currently speaking with my financial advisors at my bank for some ways to save through various programs like IRAs, Roth IRAs, CDs, etc... It's highly recommended that those that want to learn more about retirement programs find out through various sources on what would be best suited for them.