Ssga Government Money Market Fund
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Claude Said:
I'm entering into my companies 401K and I'm having a hard time trying to elect which Investment to choose?We Answered:
If you want to keep it simple, choose one of the target retirement funds. They are one stop shopping - SSGA Life Solutions Growth fund - 100%.Or if you want to pick individual funds:
45% ssga s&p500 index
10% ssga mid cap index
05% russell 2000 index
20% Janus international
20% pimco total return
Many different ways of building a portfolio. It just depends on how you want to tackle it. If you want to have a comfortable retirement, I suggest you hit the books & learn about investing. Nobody cares as much about your money as you do.
Wade Said:
How can i make a profit in my 401K?We Answered:
the individual who said put it in the s&P 500 is correct. It's a relatively low fee fund that matches the performance of the S&P 500. Leave it there and then start doing research on investing. read all you can over the next few years. As you learn more you'll have a better understanding about investing and you'll be able to diversify. At that point (hopefully you'll have been still putting money into your plan) you'll have enough in the account to properly diversify. One thing to avoid is front end load funds if you can...typically Class A funds. They charge huge front end fees and you only reap the benefit of those funds if you stay in them for an extended period of time.And the person that said banks make more off of 401ks and to put your money in tbills is dead wrong. inside a 401k your assets purchase mutual funds. This is not cash...the bank can't reinvest. they can charge high fees for administering a plan but they simply can't reinvest your deposits. It's not like a regular bank or savings account. And, if you are investing your retirement money in tbills or other vehicles that are designed to provide modest 3-4% returns then you'll be losing out in the long run. Inflation runs about 2-3% annually. This means you'll only earn at most 2% (difference between inflation and return on investment) on your money. Any returns less than inflation means you would actually be better off buying the item now then waiting to buy it later. Things cost more in the future and your money has to exceed that percentage increase or you'll be worse off then you are now.
Tanya Said:
May Someone Help With My 401K?We Answered:
This depends on a lot of things, such as your investing horizon (how long until you retire), risk tolerance, investment experience, and so forth.Assuming a young worker with a 40 year time frame, moderate experience, and moderate risk tolerance, I suggest researching the S&P 500 fund, the S&P Midcap 400 fund, and the Janus International Growth fund. This is a good mix of large, mid-size, and international stock funds, and gives you a good starting point for your research.
Geraldine Said:
Which account(s) should I allocate my 401k to?I am enrolling in my company's 401k and am unsure which?We Answered:
Well, since your company IS NOT (@$$holes!!) matching your contribution, I would NOT invest in their 401k.Reason being, is that this is the only list of funds you have to work with...which sucks hardcore. Moreover, without the additionally contribution money, you are loosing money with these funds relative to what is out there.
I applaud your genius for starting young!! The "ME" generation was not so brilliant and as a result we will be feeling it for some time.
My suggestions, open an account through a discount online brokerage firm (Schwab or Fidelity). Right now you will be paying the least amount in taxes than any other time in your life, so it only makes sense that you keep the government OUT of your retirement returns. I would suggest you open a RothIRA. The brokerage can work with you to arrange the direct deposit you need.
I know Fidelity has somewhere close to 4000 funds to choose from. I just helped my Mother-in-Law do the same thing and would gladly help you select funds if you have questions pertaining to that....simply send me a message on my 360 page.
Hope this helped!
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I cannot respond to your message on my 360. Your Y! Answers setting has it so that you do not accept messages, so I can't reply...and your email is not listed.
I would definitely open the RothIRA. I like the funds fidelity has to offer, but with a RothIRA, take advantage of your options. First off, what state do you live in? Reason being, is that you should look into actually including Municipal Bonds in your portfolio (roughly 10% of it). Also, I would look at investing in iShares/ETFs. These are like funds but dramatically cheaper and they have far better growth as they are area/sector specific.
As for the $5K coming toward you, you cannot dump it into your RothIRA, as you get a limited amount per year you can invest in it, and that $5K is more than that. I would pay off any other debt you may have first, and then pay towards the zero interest loan you have. If you have no other debt, than I would look at paying of the loan. The extra money per month you free up from paying that loan can be used to invest in individual stocks, and learn to increase you wealth through investing in individual stocks. Let me know if you have more questions through my 360 page...just let me know a way to contact you, since your settings does not allow a response.