I was talking to Miss Mazuma a couple of weeks ago at Camp FI about 401(k)s. At one point, she mentioned this post from MMM. In the post, MMM states that you can have too much in your 401(k): Let’s say you are 30 now, and you’ve made the maximum contribution each year since graduating at age 21, and thus you have about $144,000 in the account. Let’s also assume your … [Read more...] about Ask the Readers: Would You Access Your 401(k) Before 59.5?
I recently wrote a post for InvestmentZen that contains useful, actionable information (a rarity for me!) It's about self-directed solo 401(k)s, an incredibly useful investing account. Read why I opened this account below or click over to InvestmentZen to get to the good parts. I like diversification. However, until very recently, all of my money was in the stock market. And … [Read more...] about The Ultimate Investment Account for Entrepreneurs
As if you couldn't tell from the title, I'm a big fan of 401(k)s. Contributing to a 401(k) should come before all other investments for most. A 401(k) cuts the tax bill and allows for money to grow tax free. Many employers also match a percentage of your contributions. Who doesn't want free money??? Here are some fun facts about Mrs. 1500's and my 401(k)s: We have … [Read more...] about The Day I got a 401(k) Tattoo on my…
WTF!?! Now, this is a family blog, so I know that you know that acronym doesn't stand for anything that would be inappropriate for young ears. If so, please take your mind out of the gutter. It stands for "What the fee?" in reference to mutual fund fees. I have known for a while that the funds my employer offers through the 401k are stinkers. The funds are horrible … [Read more...] about Big Huge WTF!!!