Average 401K balance?
336638
I would say you are doing above average.  However average is unfortunately inadequate for the retirement that many would like to live.  Especially with Social Security being on such a shaky foundation.\n\nHowever it seems that you guys are doing pretty well.  Try using a savings calculator on ChooseToSave to make sure you are on the right track.
110070
Wow, I am 37 too!  I have $60,000 dollars in my 401K account. Congratgulation, you have more than I do.  You should be proud of yourself and I really mean it.  \n\nGood saving, keep it up, James!
543409
First of all, ccontributions are made with pretax income, so 401(k)s are great (as opposed to investing in a mutual fund with your after-tax money.  You can contibute up to $15,000 per year.  Also, check to see what Humana's company match plan is.  Most companies will match a portion of your contributions...free money!  And if you leave the company, you can roll over your balance into an IRA (without being taxed), and begin taking withdrawals at retirement age.  401(k)s are simply the best investment alternative...invest there before anything else.\n\nRoth contributions are made with after-tax dollars.
639444
No more than 35% of your gross salary.\nAnd since your asking, you should save and invest no less than 10% of your gross salary (have is deducted directly from your check and deposited right to your investment account like a payroll deduction so you are not tempted to spend it).
393236
It depends.  Do you have a Roth IRA?  You can use that money without a tax penalty.  A regular 401K through an employer will have some penalties usually.
477328
I suggest you to stay away from annuities.\n\nIf you need help with your finances drop me a line.
761866
Before you invest the first dime of that 5k make sure you have:\n1. Contributed enough to your 401k to achieve your company's match. (if that is an option available to you)\n2. Paid off all debt (except for your mortgage if you have one)\n3. Set aside 3 months of living expenses.\nNow you are ready to go! As to tools... see the following url which has info on various investment strategies.\nSuccess and health to you! \n\nSource(s):\n http://www.investmentu.com/sitemap.html
453126
I'm not a financial advisor, so you should check on this, but I believe that you will pay early withdrawal penalties plus income taxes at your current base rate on whatever you take out for whatever reason before you are 59 1/2.\n\nYou can take a loan against it, but you'll  have to pay that back.  I think you can also divide the entire value by how many years you likely have left to live (from actuarial tables) and take annual "substantially equal payments" without penalty.  All in all, very, very bad idea to use 401(k) money before you are at least 59 1/2.  \n\nCheck the Motley Fool for sound advice on paying off your loans.
1005691
Before you start borrowing your retirement savings, you should consider the pro's and con's.\n\nThe best places I've found sound financial advice are:\n\nwww.clarkhoward.com\nwww.bankrate.com\n\nClark Howard is a well-known consumer advocate who loves to help us all learn the wisest ways to handle our finances.\n\nI've listened to his radio show and watched some of his news reports on tv for many years now.  I know that he would probably tell you it's not a good idea to borrow from your 401(k) at all.\nHe might also tell you that you can make a withdrawal without a penalty, under certain circumstances.  First time homebuyership is one of the main reasons they let people withdraw money early without having to pay it back nor be penalized.\n\nYou should definitely talk with your 401(k) plan administrator regarding your specific situation.  Also, be sure to check the IRS website for an explanation of how the rules about this work.
619274
Based on the scores I see at my bank, they average in the Mid 600's. I think the FICO average is 620-650.\n\nhttp://loan.yahoo.com/c/basics7.html
219511
You should check with whoever is managing your plan, or your accountant should know, but this might be helpful:  \n\nDo I have to withdraw all of my 401(k) savings when I reach age 70½?\nWhen you reach age 70½, you're required to withdraw a minimum amount depending on your life expectancy. An actuarial table showing life expectancies is available from the Internal Revenue Service (IRS). You must begin receiving these payments by April 1 of the calendar year following the year you turn 70½. \n\nTo determine your required minimum distribution, divide your 401(k) account balance by the number of years remaining in your life or by the remaining joint life expectancy of you and your spouse. Try the calculation both ways. You may find it more advantageous to determine your mandatory withdrawal amount by using both life expectancies instead of yours alone. \n\nYou may have to recalculate this mandatory distribution amount each year because of your account balance and life expectancy. \n\nYou must pay income tax on each of these mandatory distributions. You cannot roll the distributions into an IRA.
137060
It depends on the investments available in your 401(k). If it's not an investment you would otherwise consider, I would look for something else.
279974
I am not counting on it,trying to put as much as possible in 401(k) and also trying to purchase a second home.Would also Like to do is put my eggs in different baskets.
108583
All the above answers are good, but I would say it depends..\nWhat are you saving for?  Retirement?  A house?  Vacation?\nBefore wasting your time with a financial planner you really have to decide what your portfolio will be used for.  If it's retirement, by all means use your 401(k) if your employer matches any amount (it's free money and an immediate return on your investment).  If a 401(k) is not available, by all means look at a Roth IRA.  After 5 years your returns are not taxable.  Use the Motley Fool (www.motleyfool.com) for advice.  For long term investment, go with a mutual fund that follows the S&P 500.  I didn't, I was in large caps and mid-caps and haven't made the long term returns that Vanguard 500 returned (over the past 15 years).  Real estate, especially your own home, is a good idea so that it will be paid for before you retire.  Don't overspend yourself on real estate by buying more than you can afford.  Again, figure out what you are saving for and then make a plan based upon what you will need the money for in the future.  Bear in mind when you will need the money as well.  Mutual funds are good for long term (10-15 years+), but if you will need the money in a shorter term (say five years or less) and need for ALL of your original savings to be there, stick with money funds.  They pay more than savings accounts and generally won't lose principal the way your standard mutual funds, or even real estate, could.
135205
Your question makes me want to barf. Don't look for a quick hit. You'll eventually lose it all.\n\nOpen a Roth IRA and put $3,000 in a mutual fund. Put more money in each month thereafter.
47913
A 401K won't be returned to you until you retire. A lot depends on how much you contribute,  whether you have it invested in an aggressive growth plan, and the amount of time you have invested.\n\nOn average, most mutuals (what a 401k is) will return between 6% and 9% when they mature. Funds that are more aggressive might return 12% - 18%.\n\nCompounding interest is what you're after. The money keeps building on itself over and over again, which is why you want to start planning for your future at a younger age.\n\nIn conclusion, a 401K is a lot more risky than a bank savings account, but typically the rate of return is going to be a lot more as with risk comes reward.
592059
10% penalty plus taxes...so, yeah, at least 30% penalty. \n\nProject returns 50%....which will be taxable, right? So, if you are in 25% bracket, you lose 25% of your return...so, now you are down to a net gain of 37 1/2%.\nSo, it costs 30% to access your money to make a 37 1/2% return....\ntherefore...\nyou net 7 1/2% return. My guess is....you stand a decent chance of making 7 1/2% INSIDE the 401/k and saving yourself all the hassle of moving the $$ around.