Why am I a dumbass? Because I don't want to invest funds in the market that I plan on using in the next 6 months? They are making 5% so they are def keeping up with inflation.

2/2/2007 2:57:41 PM

it's already been explained once why you are a dumbass. besides, if you're planning on spending the money in the next 6 months then it's not an emergency fund.

2/2/2007 3:00:00 PM

I'll still have the emergency fund in 6 months. It just won't be a large pile of cash. Why do I need a "large" pile of cash???

2/2/2007 3:04:43 PM

so now you're saying that the funds will be properly invested in 6 months?

I never said that it needed to be cash; in fact, I stated that it shouldn't be cash. it should just be in something more tangible than 401k.

2/2/2007 3:07:31 PM

The funds will be used to purchase a house in 6 months.

I have a roth. Is that tangible enough for you?

2/2/2007 3:08:42 PM

yes, a roth is better for tangibility.

2/2/2007 3:14:56 PM

I'm sorry you made the poor assumption that someone could not invest 15% in their 401K and have a roth ira.

2/2/2007 3:16:44 PM

15% in 401k is still stupid, regardless of your ROTH. it wasn't an assumption; there are better investment options out there.

2/2/2007 3:19:35 PM

If I've maxed out my roth, why is it stupid?

2/2/2007 3:20:41 PM

what guarantee do you have that you're going to live to be 60 years old and use your 401k? there are plenty of investment strategies other than 401k and IRA's that you can put money in towards your retirement. investments in personal business ventures, real estate, REIT's, and such all provide decent tax shelters and investment opportunities while making your money much more useable.

2/2/2007 3:24:30 PM

I already told you I have maxed out my roth and I'm buying a house.

2/2/2007 3:30:16 PM

Quote :

"what guarantee do you have that you're going to live to be 60 years old and use your 401k?"

whether you have your money invested in a 401k or some other vehicle doesn't matter if you die early.

because..

well, you'll be dead.

Maybe you should stick to taking pictures of yourself flexing.

2/2/2007 3:41:07 PM

don't ROTH's max out at 4 grand a year? you act like you're dumping 3 times that amount into your 401k. I seriously doubt your company matches on the entire 15% contribution you make, so it's not like employer matching is encouraging you to invest so heavily in 401k.

^what, you've never heard of people getting sick with cancer or degenerative diseases that cause them to die over the progression of several years? what are you going to do when you're 40 and you get diagnosed with cancer, knowing that you're going to die during the course of the next two years and probably won't be capable of working for much of that period. that 401k isn't going to do you or your family much good until after you die, but the period in between is going to be difficult.

[Edited on February 2, 2007 at 3:45 PM. Reason : you got any more stupid assumptions you want to make?]

2/2/2007 3:42:38 PM

Quote :

"don't ROTH's max out at 4 grand a year? "

yes

Quote :

"you act like you're dumping 3 times that amount into your 401k. "

I am

2/2/2007 3:44:20 PM

you should seriously look at investment strategies other than relying so heavily on 401k.

2/2/2007 3:47:04 PM

Who says I haven't?

2/2/2007 3:49:24 PM

if that's the case, then why are you defending 401k so heavily in this thread?

2/2/2007 3:50:59 PM

Because it is a great investment vehicle.

Why are you bashing it so heavily in this thread?

2/2/2007 3:51:50 PM

Quote :

"^what, you've never heard of people getting sick with cancer or degenerative diseases that cause them to die over the progression of several years? what are you going to do when you're 40 and you get diagnosed with cancer, knowing that you're going to die during the course of the next two years and probably won't be capable of working for much of that period. that 401k isn't going to do you or your family much good until after you die, but the period in between is going to be difficult."

And in such unlikely circumstances, the 401k can be tapped through the hardship withdrawal clause with no penalty. You might want to read up on these things before spouting off.

2/2/2007 3:56:05 PM

I've already stated why. it's not as great as everyone makes it out to be; it's just common.

2/2/2007 3:56:55 PM

Didn't see your damn update.

I'll have life insurance for when I die and my nice roth ira.

2/2/2007 3:57:10 PM

not all 401ks are created equal either.

mine allows me to invest in ANY SECURITY I want to, or use the 'autopilot' funds selected by the company.

but most companies that offer only shitty funds are going to be on the level of rite-aid or shit like that.

2/2/2007 4:01:14 PM

Quote :

"And in such unlikely circumstances, the 401k can be tapped through the hardship withdrawal clause with no penalty. You might want to read up on these things before spouting off. "

and maybe you should realize just how difficult it is to qualify for a hardship withdrawal before you go spouting off. owning vacation property, secondary residences, or having commercial loans such as those you would use for a private business will disqualify you from getting a hardship withdrawal. you might want to read up on these things before spouting off.

[Edited on February 2, 2007 at 4:03 PM. Reason : the funds my company offers for 401k sucks ass. they were a lot better 5 years ago.]

2/2/2007 4:01:53 PM

um... if you have all of that shit, why would you even consider tapping into a 401k?

Your original assumption was that said imaginary individual only had the 401k to fall back on.

2/2/2007 4:04:22 PM

Agreed.

I'm still waiting for a response to my previous comment.

2/2/2007 4:05:11 PM

why are you trying to justify having untouchable investments by saying that you have other investments to sell in it's place? ya'll are just grasping for shit to bitch about now.

2/2/2007 4:14:37 PM

Quote :

"Your original assumption was that said imaginary individual only had the 401k to fall back on. "

I never said that. I said that they wouldn't be able to touch the 401k, not that it was all they had. The point is that 401k is useless for matters other than retirement or possibly bankrupcy, but it doesn't provide any of the benefits that other investment strategies can provide.

2/2/2007 4:16:18 PM

pretty sure you're the only one bitching here, Ike.

2/2/2007 4:17:20 PM

Quote :

"it doesn't provide any of the benefits that other investment strategies can provide."

Uhhhh, tax deferreal?

2/2/2007 4:19:43 PM

I wonder if he's going to talk about the wonders of variable annuities next.

Hey Ike, are you a fan of Robert Kiyosaki?

2/2/2007 4:21:38 PM

At least he didn't suggest I make ultra conservative investments like the guy debating me in

http://thewolfweb.com/message_topic.aspx?topic=456657

2/2/2007 4:27:00 PM

eleusis sucks

2/2/2007 4:27:26 PM

this looks like it has been a fun topic

anyways, Econ 2005

and now I sell explosive devices nothing to do with my major

2/2/2007 6:15:55 PM

i put 20% of my income into penny stocks. the rest i have left over after living expenses is converted into small/flawed gems.

2/2/2007 7:28:03 PM

dec 05

business & communication

no further education

2/2/2007 8:38:02 PM

poli sci

currently pursuing a masters (which should give me a nice cushion over 50k soon as im done in may)

government advocacy/government relations/public affairs

2/2/2007 8:39:33 PM

3 pages and i'm only the 3rd girl to respond? i know there arent many girls on tww but come on!

2/2/2007 11:28:10 PM

not our fault that women are inherently stupid

2/3/2007 10:48:27 AM

pwn!

2/3/2007 10:54:22 AM

Quote :

"3 pages and i'm only the 3rd girl to respond? i know there arent many girls on tww but come on!"

oh man, when i read this i totally went back through all the posts to try and prove you wrong, but i couldnt. that's kind of depressing....

so far, the only girls are
Nrallen
MaggyDalene
NCSUWolfy

2/3/2007 11:26:55 AM

Thought this quote was relevant:

Quote :

""Too many Americans don't save anything, because they're spending money they don't have, on things they don't need, to impress people they don't like." "

2/3/2007 11:32:56 AM

Whatevs, fratboy.

2/3/2007 11:54:47 AM

'01 Chemistry
'02 Chemical Engineering

2/3/2007 1:36:24 PM

^^^ that, and most people spend first and save any money that's left. if you want to accumulate wealth, it's pretty much essential that you save the amount of money that you need to accomplish your goal(s), then spend what remains. the other good part about that is that you don't have to feel very guilty about blowing money on nonessential stuff. you've already saved all you need--just pay the bills, and the rest is yours to play with.

2/3/2007 2:03:35 PM

Quote :

"15% in 401k is still stupid, regardless of your ROTH. it wasn't an assumption; there are better investment options out there."

May I ask why that's stupid?

2/3/2007 9:31:09 PM

Quote :

"there are better investment options out there."

that doesnt' even make sense. assuming you've maxed out your ROTH, then the 401k is great. just because your particular 401k has shitty investment options doesn't mean everyone's is shitty

2/4/2007 12:18:38 AM

You guys need to be more productive on a Friday afternoon at work.

2/4/2007 12:41:16 PM

Haha, I need to stop posting as much now that one of my coworkers is on tww.

Here was my friday, stop portal, post in thread, rebuild war, post in thread, start portal, post in thread, start wsas, post in thread, look pissed off while RAD crashes, post in thread, etc. etc. etc.

2/4/2007 1:04:51 PM

eleusis, I'm still waiting for your reply to ^^ and ^^^

2/6/2007 8:36:44 AM

that was 2 days ago...let it go.

2/6/2007 8:43:00 AM