Comments on: Three Plans for Your Financial Future http://www.christianpf.com/how-to-plan-for-your-financial-future/ Christian Personal Finance - Financial help, debt help and other financial resources Sat, 21 Nov 2009 08:03:07 -0600 hourly 1 By: jay peroni http://www.christianpf.com/how-to-plan-for-your-financial-future/comment-page-1/#comment-11043 jay peroni Fri, 27 Mar 2009 14:20:41 +0000 http://www.christianpf.com/how-to-plan-for-your-financial-future/#comment-11043 401ks are a time-tax bomb. You defer taxes and many believe you will be in a lower tax bracket when you retire. This assumes 1 of 2 things: 1) Tax rates (brackets) will be lower in the future or 2) You will make less income when you retire. I would not feel comfortable with either asumption. Getting the company match is typically a good thing, but above and beyond that I would look at something like a Roth or individual brokerage account as a vehicle for growth above a 401k. Many Blessings, Jay 401ks are a time-tax bomb. You defer taxes and many believe you will be in a lower tax bracket when you retire. This assumes 1 of 2 things:
1) Tax rates (brackets) will be lower in the future

or

2) You will make less income when you retire.

I would not feel comfortable with either asumption. Getting the company match is typically a good thing, but above and beyond that I would look at something like a Roth or individual brokerage account as a vehicle for growth above a 401k.

Many Blessings,
Jay

]]> By: jay peroni http://www.christianpf.com/how-to-plan-for-your-financial-future/comment-page-1/#comment-11042 jay peroni Fri, 27 Mar 2009 14:15:43 +0000 http://www.christianpf.com/how-to-plan-for-your-financial-future/#comment-11042 Bob, I personally use stocks and ETFS as my ways to build wealth. There are a few faith-based mutual funds I recommend as well. Here are a few funds to look at: www.timothyplan.com www.eventidefunds.com www.camcofunds.com In the near future I will be rolling out some additional tools and research for investors to help follow their faith. The site will be at www.faithbasedinvestor.com As for Roth, I advocate a Roth over 401ks if you qualify income wise for a Roth. In Him, Jay Bob,
I personally use stocks and ETFS as my ways to build wealth. There are a few faith-based mutual funds I recommend as well. Here are a few funds to look at:

http://www.timothyplan.com
http://www.eventidefunds.com
http://www.camcofunds.com

In the near future I will be rolling out some additional tools and research for investors to help follow their faith. The site will be at http://www.faithbasedinvestor.com

As for Roth, I advocate a Roth over 401ks if you qualify income wise for a Roth.

In Him,
Jay

]]> By: Jae Jun http://www.christianpf.com/how-to-plan-for-your-financial-future/comment-page-1/#comment-11038 Jae Jun Thu, 26 Mar 2009 21:56:32 +0000 http://www.christianpf.com/how-to-plan-for-your-financial-future/#comment-11038 My 401k allows me to pick my own individual stocks and that's what I have been doing but the tax issue when its time to withdraw is a big worry in my mind. Had it not been for the company match, I don't think I would even consider a 401k. My 401k allows me to pick my own individual stocks and that’s what I have been doing but the tax issue when its time to withdraw is a big worry in my mind.

Had it not been for the company match, I don’t think I would even consider a 401k.

]]> By: Bob V http://www.christianpf.com/how-to-plan-for-your-financial-future/comment-page-1/#comment-11022 Bob V Thu, 26 Mar 2009 16:50:27 +0000 http://www.christianpf.com/how-to-plan-for-your-financial-future/#comment-11022 Jay, You mention stocks in the above post. Do you recommend individual stocks or spreading the risk using mutual funds that invest in stocks (faith based funds of course)? Is there a place for someone to do both. I understand the problem with a 401K type of plans so would you recommend a Roth IRA? Jay,
You mention stocks in the above post. Do you recommend individual stocks or spreading the risk using mutual funds that invest in stocks (faith based funds of course)? Is there a place for someone to do both. I understand the problem with a 401K type of plans so would you recommend a Roth IRA?

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