So, I am at the point in my job where I can finally open my 401k… and now we have the economic crisis!
Is it in my best interest to open my 401k or to save to my high yield savings account????
401 k for your retirement
high yield savings account for safety
To answer, contribute to both.
March 30th, 2010 at 11:32 pm
401 k for your retirement
high yield savings account for safety
To answer, contribute to both.
References :
March 30th, 2010 at 11:54 pm
Stocks are on sale, they are cheap. They’ve come way off of their highs. You may never get a chance to buy stocks as cheap as they are now. Load up on stock mutual funds in your 401K.
References :
March 31st, 2010 at 12:13 am
Well, it’s hard to answer this question without more info. I’m not a financial planner, but if you’ve paid off all your credit cards, car loans, and other debts (besides a mortgage, unless you can’t manage it), AND you have an emergency fund (in high-yield savings) of 3-6 months of expenses, then I would invest in the 401(k), especially if there is a company match, and if you can get the benefit of a tax deduction.
References :