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Scott Francis Baker


May 3rd, 2001

401k rules! @ 04:49 pm

I just found an old 401k info sheet. It was right after I started it and I had $466.48 in my 401k. Now if it grows at the modest rate that it is currently and I don't put another dime in it, I will get $37,890.34 when I'm 55... Or $59.576.59 if I wait till 65. You gotta love compound interest.
 
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From:davidfrey
Date:May 4th, 2001 09:36 am (UTC)
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Might want to consider the stability of the market and how your funds are dispersed?

Fixed or diversified? Can make a big difference on what you make.

Last year I actually lost money.
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From:muerte
Date:May 4th, 2001 10:22 am (UTC)
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Well I'm in it for the long haul, I'm not going to touch any of this money for 40 years. I'm sure that average of 40 years of interest in a high yield, high risk 401k will be possitive.
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From:davidfrey
Date:May 4th, 2001 10:40 am (UTC)
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What's your contribution?
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From:muerte
Date:May 4th, 2001 03:32 pm (UTC)
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10%, if I made more it'd be more. I want to be able to contribute the max!
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From:davidfrey
Date:May 4th, 2001 04:26 pm (UTC)
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I thought 10% was the max... or is it 12?
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From:muerte
Date:May 4th, 2001 05:53 pm (UTC)
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20%

Scott Francis Baker