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Mid Michigan | Just invest as much as you need to max out on the company match and put the rest into your farmland dreams. These companies will only give you so much on these 401 k plans anyway. I think a lot of people think you get to invest unlimited amounts of money in the 401 and the company just keeps dumping 42 cents on the dollar in there for you but that's not how it works at all. They are all severly limited on how much you can put in and how much of that they will even match anyway. It's usually not a huge amount of money that they give you but they're offering it for nothing so it's an ok deal. For a lot of years our company did a dollar for dollar match and then 50 cents on a dollar. I can't even tell you what it is right now. Seems like it's a dollar for dollar on the first 3% and 50 cents on the second 3% up to a certain monetary amount and then they quit contributing. I'm still in it but don't pay attention much to it anymore and haven't even opened up one of my statements in about 5 years! Not a big priority to me anymore. | |
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401K vs saving for farmland
