Comments | luvrhino: who organized all of my ex-girlfriends in a choir and got them to sing?

luvrhino

who organized all of my ex-girlfriends in a choir and got them to sing?

Feb 22, 2009 21:29

Goddamn Obama. All non-hourly employees at my company received the equivalent of a 8-12% pay cut last week. Only 5% of that was in base across-the-board salary cut. However, they also changed the company match on the 401(k) plan from being 6% to a sliding scale of 0-4% depending on company performance. On top of that, they canceled our share ( Read more... )

Comments 8

mcroft February 24 2009, 01:06:22 UTC

How many ex-girlfirneds do you have?

tooaquarius February 24 2009, 01:16:10 UTC

*curious*

And how did you get them together to sing?

Hey, i'm poorer now...you can give me the money you borrowed... luvrhino February 24 2009, 01:23:29 UTC

Well that was the question. See the video below.

I was living vicariously through Jemaine of The Flight of the Conchords luvrhino February 24 2009, 01:20:25 UTC

I'm curious how that typo even occurred. I must have brushed my thumb across the trackpad or something.

switchduck February 25 2009, 01:06:24 UTC

401(k)s suck. In my extremely limited experience of working at an insurance company, I have to say annuities are the way to effing go. Man. Particularly if you don't get company matching.

Yes, i know that i really should invest any excess money towrds trips to Minnesota... luvrhino February 25 2009, 04:04:22 UTC

It depends on the particular 401(k), but under normal circumstances the 401(k) should be greatly preferred to the annuity for people our age. The 401(k) should have significantly lower administrative costs and fees. The thing that would make annuities a better option would be if the 401(k) didn't have decent investment options. Say, if contributions had to be invested in Enron stock, for example.

In my case, i have low fee index funds (S&P 500 and Extended Market) in addition to good international options. Thus, my preference for my tax-protected investments goes:

401(k) with company match
Roth IRA (provides more flexibility and options than 401(k))
401(k) without company match
Annuity or possibly a taxable investment

Before this year, i applied my savings beyond the 401(k) and Roth limits toward paying principle on my mortgage. It's not a very high return, but i viewed pre-paying mortgage as a fixed-rate investment alternative to bonds and money markets. I had considered an annuity around 1999 or 2000 after i had (mostly) finished ( ... )

Yeah, why is it that we have never met?! switchduck February 27 2009, 04:48:05 UTC

Can't say I know much about administrative costs for annuities (I only see the premium/balance sides), but I can say that annuities don't lose value. 401(k)s do, and how. IRAs are not too bad, but if you are doing them long-term and have the money to burn, going with things that don't have contribution limits (like annuities, well, to a point) seems like the smarter move. Basically, if you are socking away money with the intention of not touching it for years and years and years, I'd think you'd want to put as much away as possible in as safe a place as possible while also getting a decent interest rate. Thus, annuities.

you refuse to come to Houston...not that i blame you luvrhino February 28 2009, 00:21:16 UTC

Annuities that have the additional insurance policy where they can't lose money really screw you on fees. Granted, the last couple years that would have been great. However, under any kind of bullish market, you'd really get killed they eat the profits. Annuities have to make money some how. They charge the owner for the annuity's assumption of market risk ( ... )