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Way OT: investments in 401K
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Posted by Kurt (mi) on August 01, 2004 at 04:10:03 from (64.136.26.228):
Over 10 years ago I began investing in a 401K program. And I am still investing in a 401K program. Just this last week we switched the fund management and I had to fill out the Mutual funds I wanted and how much of my income I wanted out of my payck, bla bla bla. Here are my questions. Have any of you guys here invested in a 401K and been doing it for over 25 years or so and have a lot of money in the fund(s) like 300,000 + dollars the reason I ask this is because I still believe in the compound interest reality over time but I was wondering if it really works and the tax implications of withdrawing the money after your over 60 years old. I am 35 now and I have a nice nest egg saved up (not enough to retire on) My parents didnt start saving until about 15 years ago, my dad is now 64 and just retired last April with a small buyout from his employer. I have another question for you guys, do any of you have a XYZ preferred stock that pays out 7% in dividends, I just looked on the yahoo search and Ford preferred stock pays 7.4%annually for the dividend. (not bad) I know that talking about money on here is not related to tractors but just about all of us here get out of bed every day to make money and I would like to here some wisdom from any of you guys who have been investing longer than me and who have stayed the course for many many years and retired on their 401K and it is enough money for you, and did you take out any money to pay a child college with the money, thanks.
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