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#1
12-16-2005, 02:02 PM
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CNN Money article... stupid comment?
How Average Joes can retire rich
"It turns out that picking better funds and adopting a more growth-oriented strategy would have led to modest improvement. But by raising his contribution from 2 percent of salary to 6 percent, Joe would have tripled his 401(k) balance..." O Rly? This is the main point of the entire article. 
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#3
12-16-2005, 05:46 PM
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Re: CNN Money article... stupid comment?
IRAs, yes. 401Ks, it depends on your options. If you contribution isn't matched, and all you can invest in is managed funds with loads and high fees, you'll probably be better off keeping it in a taxable account.
But your main point is correct. People should save much more than they do now. And in a world where lots of people carry huge balances on their credit cards at 20% interest, that's probably (sadly) a point people need to have emphasized.
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#4
12-16-2005, 05:54 PM
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Re: CNN Money article... stupid comment?
[ QUOTE ]
Maxing out your 401K is a very important point... ...your main point is correct. People should save much more [/ QUOTE ] I guess I missed something here. I thought Efficacy was laughing at CNN for making a big deal of the fact that 6 divided by 2 equals.....drumroll, please.....3.
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#5
12-16-2005, 05:59 PM
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Re: CNN Money article... stupid comment?
Buff, this is the point of the article...
[ QUOTE ] In fact, when it comes to the three main choices you have in your retirement account -- how much to contribute, how to allocate your money between stocks and bonds and which funds to choose -- a recent study by Putnam Investments shows that investing prowess isn't what matters. It's how much you sock away. [/ QUOTE ]
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#6
12-16-2005, 06:56 PM
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Re: CNN Money article... stupid comment?
[ QUOTE ]
[ QUOTE ] Maxing out your 401K is a very important point... ...your main point is correct. People should save much more [/ QUOTE ] I guess I missed something here. I thought Efficacy was laughing at CNN for making a big deal of the fact that 6 divided by 2 equals.....drumroll, please.....3. [/ QUOTE ] you missed nothing.
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