[Drugmachine]

ok, need your opinion guys, I'm about to make a decision, and need some help, this is the time of the year that we can take advantage of benefits offered by bestbuy, such as 401k, emplyee stock purchasing, health benefits, etc....so I was thinking, maybe doing employee purchasing, and 401k, since I already get health insurance through my dad, so heres the question, how much should I alocate to these 2 ? 10% of my paycheck to each ? (20% total, 10 to each) or more ? I'm about to switch to full time (work at BB btw) and will be making about 14-16k a year, and with no bills, I guess its a good investment, should I invest more ? what do ya say ? is it too early for me to think about 401k ? I'm only 18....anyway lemme know guys...

[Barbshowers]

depending on the company you simply have to go with the stocks.

in germany there is a certain limit you can get (dont know how it works at your place)

we can get a certain value of stocks werein half of the price is financed by my company.

for example we were able to get stocks last year for free (abt 11 shares @ 21 euros), actually for half the price

stock value now is 35 €

of course you have to do it every year to have a real benefit.

[rozalinasi]

at tesco we have the save as you earn scheme which rocks.
you tell them to take between 5 and 50 quid from your wages a month and its used to buy shares at a discounted price when you take the scheme out and then you run it for either 3 or 5 years and then sell the shares you buy at the price they are then.
the best thing is you can have 5 on the go at once.

we all have 5x 5 year £20 a month schemes going so you cash one in every year for a nice cheque.
i think one works out at you save £1200 over the 5 years, then sell them and get like £2200.
free money basically.
your losing £100 every month out of your wages and getting a 2.2k cheque every feb, everyone got them yesterday actually.
theres no risk cos you simply get your money back if the shares are worth less than the option price

[nvideoe]

I invest 6% in my retirment plan. Company matches 50% of up to 6% of my paycheck so I'm getting the max I can there. I also invest like 3% into stock. I'd suggest that if you don't have a lot of bills go for like 10% in 401k and maybe 6-10% in stock. Invest some yourself outside as well. When I was your age *5 years ago. :P* I invested in some stock. Would have done really well if it wasn't for some really bad luck in life. The stock did well tho *AMD and Nvidia*, but I pulled out early to cover my bills and buy a beater car while I was looking for a job. I'd definitely say invest in retirement and some stock. Get started young, that way when you get older you have things to fall back on. 5 years down the road a little stock investment could be worth a lot. My AMD stock was bought at $3 a share.. and what is it now.. $20+? If you've got the chance definitely take it. Don't blow your cash. Biggest mistake I made when I was 18. I had no bills nothing to worry about, so I bought a nice car and spent a lil cash here and there. Definitely regretted it later as I had no reserves to fall back on other than stock when my position was cut, my car died, and I find a job anywhere in my city. Well, a job that paid as much anyway. Working at the grocery store deli did pay the rent tho but not the car repairs or payments. I would suggest investing and saving money. Get a credit card too. Put all your gas and groceries on it and just pay it off the same day. You'll never get tagged with interest and you'll build your credit.

[xanaxist]

ok, need your opinion guys, I'm about to make a decision, and need some help, this is the time of the year that we can take advantage of benefits offered by bestbuy, such as 401k, emplyee stock purchasing, health benefits, etc....so I was thinking, maybe doing employee purchasing, and 401k, since I already get health insurance through my dad, so heres the question, how much should I alocate to these 2 ? 10% of my paycheck to each ? (20% total, 10 to each) or more ? I'm about to switch to full time (work at BB btw) and will be making about 14-16k a year, and with no bills, I guess its a good investment, should I invest more ? what do ya say ? is it too early for me to think about 401k ? I'm only 18....anyway lemme know guys...

Maybe it is a little early for 401k. I'm not American so I don't know the system re taxes that well but I would be tempted to invest that money myself for so many years so I'd have an investment I could liquidate without severe penalties. Maybe even think about 5% into a 401k and put 5% into investments of your own choice.

[Hodstcopter]

Since you're only 18, I have to ask are you living on your own, or are you living in an apartment financed by you? If you are still living with your parents then Id suggest just saving that money instead of investing it in something you wont get back for a long time. Better to save the money for when you do move out on your own. If you are already living on your own, then go ahead and invest if you want for the long term.

[Drugmachine]

Since you're only 18, I have to ask are you living on your own, or are you living in an apartment financed by you? If you are still living with your parents then Id suggest just saving that money instead of investing it in something you wont get back for a long time. Better to save the money for when you do move out on your own. If you are already living on your own, then go ahead and invest if you want for the long term.

live at home with my parents, pretty much save all my money except for maybe 300$ a month for food and gas...

[TessUnsonia]

I am in the same shoes living at home and working with a 401k. I am contributing the most the employer will match to my 401k but I elected to invest in a mutual fund instead of company stock. Also, much of my take-home cash goes into securities which won't be locked up like my 401k and IRA.

[Drugmachine]

ok, heres what happened, ended up not doing 401k, not yet, maybe next year, but did do employee stock purchasing, 20% of my pay goes to that, now I have no bills, or anything so I guess I can take a 20% hit on my pay, anyhow I hope its worth it, I dont wanna lose all this money...

[Relsenlilky]

ok, heres what happened, ended up not doing 401k, not yet, maybe next year, but did do employee stock purchasing, 20% of my pay goes to that, now I have no bills, or anything so I guess I can take a 20% hit on my pay, anyhow I hope its worth it, I dont wanna lose all this money...

Do you get it under market price? At Starbucks we get it 15% under market price so you make a profit from the get go with stock, though you can only go for 10% of your pay i think.