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Investing and 401k?

I'm clueless with where to allocate my money? Are there any experts here to break it down for me? Thanks!!

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mommyg24

Asked by mommyg24 at 3:14 PM on Jan. 11, 2011 in Money & Work

Level 13 (1,241 Credits)
Answers (4)
  • Most financial planners will tell you to invest 10 to 15% of your income.

    If I were in your shoes I'd invest up to the match in the 401k, and then after that I'd invest in a Roth IRA (you can invest up to $5000 in a Roth every year.) If you still need/want to invest more, go back to the 401k.

    I hope that makes sense.
    Erica_Smerica

    Answer by Erica_Smerica at 5:17 PM on Jan. 11, 2011

  • If you are smart, you wouldnt even bother Richdad.com You can learn alot of things about investing healthy.
    IraqiVetWife

    Answer by IraqiVetWife at 7:06 PM on Jan. 11, 2011

  • If you are investing in a 401k through work, there usually are a group of mutual funds that are offered. If you are unsure which fund to invest in, do a 25/25/75 split or 50/50 looking for ones with the highest performance and lowest risk. Ideally, take a personal finance class at a local community college that way you can make well-informed choices.
    tasches

    Answer by tasches at 9:03 PM on Jan. 11, 2011

  • oops 25/75 split - helps if I know my math - ;0)
    tasches

    Answer by tasches at 9:04 PM on Jan. 11, 2011

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