Comments on: How to get a great return in your 401k – GS14 http://christianpf.com/how-to-get-a-great-return-in-your-401k-during-a-recession/ Christian Personal Finance - Financial help blog, debt help and other financial resources Tue, 14 Feb 2012 21:22:01 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Tina http://christianpf.com/how-to-get-a-great-return-in-your-401k-during-a-recession/comment-page-1/#comment-167286 Tina Fri, 20 Jan 2012 03:16:26 +0000 http://christianpf.com/how-to-get-a-great-return-in-your-401k-during-a-recession/#comment-167286 Bob, Your blog has been a blessing to me and I enjoy reading your very informative articles. Therefore, I have given you the "Versatile Blog Award". You can read all about it here: http://theblessedcouponer.com/2012/01/19/blessed-couponer-voted-versatile-blog-award/ Keep up the great work! Bob,
Your blog has been a blessing to me and I enjoy reading your very informative articles. Therefore, I have given you the “Versatile Blog Award”. You can read all about it here: http://theblessedcouponer.com/2012/01/19/blessed-couponer-voted-versatile-blog-award/
Keep up the great work!

]]> By: Jesse Gathewright http://christianpf.com/how-to-get-a-great-return-in-your-401k-during-a-recession/comment-page-1/#comment-122130 Jesse Gathewright Sun, 24 Jul 2011 16:10:25 +0000 http://christianpf.com/how-to-get-a-great-return-in-your-401k-during-a-recession/#comment-122130 Lets face it guys, most americans have Not saved for retirement, Do not have 1000 dollars in regular savings, Do have over 8000 dollars of unsecured debt, and Are upside down in their automoble purchases, meaning they owe more money on them than they are worth... As True Christian believers, I belive we must approach finances from a different perspective. The Stewardship Principle "God is the owner we are just managers of what He has entrusted into our hands. From this perspevtive, we can truely learn how to become better stewards of what has been entrusted to us. In Matthew and the entire 6th chapter we gain specific instructions about approaching stewardship in Christ. The Stewardship approach if applied will guide us through our Financial Destiny in Christ; This will also mean stepping away from the so called World system and enbracing God's systom called "the kingdom of heaven". I believe if we take this approach we can experience the liberty and Finacial Freedom that God has already provided for us through his son Jesus Christ. God bless Lets face it guys, most americans have Not saved for retirement, Do not have 1000 dollars in regular savings, Do have over 8000 dollars of unsecured debt, and Are upside down in their automoble purchases, meaning they owe more money on them than they are worth…
As True Christian believers, I belive we must approach finances from a different perspective.
The Stewardship Principle
“God is the owner we are just managers of what He has entrusted into our hands.
From this perspevtive, we can truely learn how to become better stewards of what has been entrusted to us.
In Matthew and the entire 6th chapter we gain specific instructions about approaching stewardship in Christ.
The Stewardship approach if applied will guide us through our Financial Destiny in Christ; This will also mean stepping away from the so called World system and enbracing God’s systom called “the kingdom of heaven”.
I believe if we take this approach we can experience the liberty and Finacial Freedom that God has already provided for us through his son Jesus Christ.
God bless

]]> By: Carnival of Debt Reduction: It's A Marathon, Not A Sprint Edition! | Man Vs. Debt http://christianpf.com/how-to-get-a-great-return-in-your-401k-during-a-recession/comment-page-1/#comment-12180 Carnival of Debt Reduction: It's A Marathon, Not A Sprint Edition! | Man Vs. Debt Mon, 04 May 2009 08:10:15 +0000 http://christianpf.com/how-to-get-a-great-return-in-your-401k-during-a-recession/#comment-12180 [...] Christian Debt Help submitted a post called How to get a great return from your 401k in a recession. [...] [...] Christian Debt Help submitted a post called How to get a great return from your 401k in a recession. [...]

]]> By: bob http://christianpf.com/how-to-get-a-great-return-in-your-401k-during-a-recession/comment-page-1/#comment-12093 bob Thu, 30 Apr 2009 21:09:31 +0000 http://christianpf.com/how-to-get-a-great-return-in-your-401k-during-a-recession/#comment-12093 Matt I agree - the benefit of lowering monthly expenses by paying off debts is a great one - I consider it more of a protection measure against job loss, etc Matt I agree – the benefit of lowering monthly expenses by paying off debts is a great one – I consider it more of a protection measure against job loss, etc

]]> By: Matt Jabs http://christianpf.com/how-to-get-a-great-return-in-your-401k-during-a-recession/comment-page-1/#comment-12078 Matt Jabs Thu, 30 Apr 2009 15:28:45 +0000 http://christianpf.com/how-to-get-a-great-return-in-your-401k-during-a-recession/#comment-12078 I agree with Bob, Stateworker, & Pochax. Here's my spin... I am not contributing to my 401K right now, neither is my wife contributing to her 403b, although we plan to eventually...here's why: We have $12,000 in consumer debt that we need to pay off ASAP, it is costing us more money than we could save in our retirement accounts. My employer matches my 401K, but I'm only 20% vested per year after 3 years. I have been here almost 2 years, so it will be another 16 months before I am vested even 20%. At the end of that 16 months my consumer debt will be gone, and my contributions will receive some match. Sometimes paying off debt is the most important way to save for retirement, which is the case for me...at least for the next 12 months...Lord willing. I agree with Bob, Stateworker, & Pochax.

Here’s my spin…

I am not contributing to my 401K right now, neither is my wife contributing to her 403b, although we plan to eventually…here’s why:

We have $12,000 in consumer debt that we need to pay off ASAP, it is costing us more money than we could save in our retirement accounts.

My employer matches my 401K, but I’m only 20% vested per year after 3 years. I have been here almost 2 years, so it will be another 16 months before I am vested even 20%. At the end of that 16 months my consumer debt will be gone, and my contributions will receive some match.

Sometimes paying off debt is the most important way to save for retirement, which is the case for me…at least for the next 12 months…Lord willing.

]]> By: Money Beagle http://christianpf.com/how-to-get-a-great-return-in-your-401k-during-a-recession/comment-page-1/#comment-12076 Money Beagle Thu, 30 Apr 2009 14:53:36 +0000 http://christianpf.com/how-to-get-a-great-return-in-your-401k-during-a-recession/#comment-12076 My employer was matching 100% up to the first 6% that we contributed. However, the paycheck that I received today was the end of their contributions, as they are eliminating it for cost cutting purposes. I suspect this will become more and more the norm. My employer was matching 100% up to the first 6% that we contributed. However, the paycheck that I received today was the end of their contributions, as they are eliminating it for cost cutting purposes.

I suspect this will become more and more the norm.

]]> By: pochax http://christianpf.com/how-to-get-a-great-return-in-your-401k-during-a-recession/comment-page-1/#comment-12061 pochax Thu, 30 Apr 2009 01:09:48 +0000 http://christianpf.com/how-to-get-a-great-return-in-your-401k-during-a-recession/#comment-12061 two other important points about matching funds from employers: 1) some companies require that one stay with the company for a certain amount of time ("vesting time") before you actually can take that money in case you leave for another job (you will always be vested in your contributions - or at least you should be). 2) those matching funds are always considered pre-tax money even if you are contributing to a Roth 401k where your contributions are taxed (and gains are tax-free); the employer-matching money will be categorized as tax-deferred (ie. you will pay taxes when you withdraw the money in retirement). two other important points about matching funds from employers:
1) some companies require that one stay with the company for a certain amount of time (“vesting time”) before you actually can take that money in case you leave for another job (you will always be vested in your contributions – or at least you should be).

2) those matching funds are always considered pre-tax money even if you are contributing to a Roth 401k where your contributions are taxed (and gains are tax-free); the employer-matching money will be categorized as tax-deferred (ie. you will pay taxes when you withdraw the money in retirement).

]]> By: Kacie http://christianpf.com/how-to-get-a-great-return-in-your-401k-during-a-recession/comment-page-1/#comment-12050 Kacie Wed, 29 Apr 2009 18:26:25 +0000 http://christianpf.com/how-to-get-a-great-return-in-your-401k-during-a-recession/#comment-12050 My husband used to have a 100% 401k match up to 6% of his salary. It was awesome. They got rid of the match earlier this year so the company could save money. We're hopeful that it will be reinstated at some point soon. My husband used to have a 100% 401k match up to 6% of his salary. It was awesome. They got rid of the match earlier this year so the company could save money. We’re hopeful that it will be reinstated at some point soon.

]]> By: bob http://christianpf.com/how-to-get-a-great-return-in-your-401k-during-a-recession/comment-page-1/#comment-12046 bob Wed, 29 Apr 2009 17:06:04 +0000 http://christianpf.com/how-to-get-a-great-return-in-your-401k-during-a-recession/#comment-12046 Stateworker, you are right, many employers have been cutting back on raises - I know the feeling very well. I am not suggesting that any of us should "count on" raises now, or even in good times, that was actually just an aside from what the article was about. My point was that if you use increases in income - be it a raise, tax refund, second job, etc - to fund your retirements accounts, you won't notice a change in your standard of living... oh and you are right on about depending on God - we can sometimes forget that He is our true source! Stateworker,
you are right, many employers have been cutting back on raises – I know the feeling very well. I am not suggesting that any of us should “count on” raises now, or even in good times, that was actually just an aside from what the article was about. My point was that if you use increases in income – be it a raise, tax refund, second job, etc – to fund your retirements accounts, you won’t notice a change in your standard of living…

oh and you are right on about depending on God – we can sometimes forget that He is our true source!

]]> By: StateWorker http://christianpf.com/how-to-get-a-great-return-in-your-401k-during-a-recession/comment-page-1/#comment-12045 StateWorker Wed, 29 Apr 2009 16:50:46 +0000 http://christianpf.com/how-to-get-a-great-return-in-your-401k-during-a-recession/#comment-12045 Hi bob, I think I was a little harsh. My other point is, "during a recession" -- as this post is titled -- it's not enough to count on others to help you out: in this case, employers with 401(k) matches and and raises. We need to count on God, turning to Him in prayer and fasting and immersing ourselves in Scripture. And we need to make use of the gifts He's given us, finding unconventional ways to increase one's income, be it through freelancing, money-making hobbies, or finding creative ways to reduce expenses. Hi bob,

I think I was a little harsh.

My other point is, “during a recession” — as this post is titled — it’s not enough to count on others to help you out: in this case, employers with 401(k) matches and and raises.

We need to count on God, turning to Him in prayer and fasting and immersing ourselves in Scripture. And we need to make use of the gifts He’s given us, finding unconventional ways to increase one’s income, be it through freelancing, money-making hobbies, or finding creative ways to reduce expenses.

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