All Forum Posts by: David White

My $.02 is that most employee-sponsored 401K plans have poor investment choices and too many fees. My rec. is to only invest enough to get the full company match, and then invest anything you can above that in a Roth IRA, real estate, &/or other investments of your choosing.

What are the benefits of a ROTH IRA?

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Originally posted by @Henry J.:

You might want to do more study on investopedia site or the likes on 401k...
Quick things to consider -
What company is the 401k offered through? If it's one of the low fee companies like Vanguard then you are in good shape, but still do more work on fees. If it's not one of those low fee companies you will need to spend more time studying.
Find out what options your company provides, with fee info and type of investment and past performance.
Find out the matching amount.
Know how much you want to contribute to get the 'free' matching company contribution. Definitely contribute to get the maximum matching amount you can afford.
Decide if you want to use target date fund, if your company offers it, and if the fee is less than 1%. (Target date fund usually has a name with a year in it)
If the fees are high, find total market index fund or S&P fund and check their fees. Usually index funds have lower fees but not always true.

Hope that helps.
Henry

Ascensus is the company my 401k is offered through. I work through GE. They match 25% up to the first 6%. I currently contribute 6%. I'll have to answer your other questions sometime this weekend when I'm off. I'm going off of memory right now.

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Originally posted by @Mark Nolan:

@David White

Have you ever thought about investing your 401k in real estate?

Yes that's my goal. Unfortunately I have a loan through my 401k that doesn't come off the books until sometime in 2018.

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I have 22 stock options when it comes to election contributions through my 401 K? I don't know anything about stocks. What factors should I look for when it comes to which stocks I should contribute to?

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Congratulations

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@NA Jones Thank you for the information. I see that their next meet up is on February 28.

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Are there any Baltimore area REIA groups that meet on the weekend? My work schedule got switched to 2 pm-1030 pm Monday through Friday. At first I liked it because there's hardly any supervision at my job during those hours. But once I realized I couldn't attend the Baltimore REIA meet up group in Edgewood, MD then I got a little discouraged. I was looking forward to finally attending. Hell I even stopped being active on this website. But that's mainly because of how busy my job is right now.

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I've always wondered this same question. I would think because your self employed then you would be required to withhold your own taxes. I didn't know to pay quarterly though.

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@Yenipher Barrientos I'm a newbie. But I believe $25,000 is enough money for a down payment on 2 properties. It all depends on a number of factors (credit, price of home, ect). But all in all money talks.

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@Wendell De Guzman Thank you for sharing your story and providing your recommendations on how to properly wholesale a property.

1 Vote

All Forum Posts by: David White

David White has started 32 posts and replied 278 times.

Post: Advice on 401k

Post: Advice on 401k

Post: Advice on 401k

Post: Advice on 401k

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Post: Baltimore area REIA

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