Is it worth investing in a 401k?

I’m glad you are here, and I’m thrilled you are asking this question. 

The answer is almost always, yes. Especially if your company provides and offers a match. What I find most helpful and useful on 401k’s is that the money comes right out of your paycheck before the money goes into your bank account.

Therefore, you don’t get tempted to spend it!

When I worked at Nationwide Insurance, they matched up to 6% of my funding. I funded a full 6% of each paycheck. Therefore, I was saving 12% of everything I made! Which was about $168 every 2 weeks. 

That’s about $336 a month. From age 18-20 and with some paychecks juiced up with sprinkles of overtime ~ my 401k was sitting at around $9,000!! In just two years! Simple savings. 

From there, I learned how to do a self-directed 401k, where I was able to invest and trade individual names and companies. The first company I bought shares of through my self-directed 401k was ticker: AG with First Majestic Silver. I bought 900 shares back on November 15th, 2010 when I was 20 years old. 900 shares at $10 per share cost $9,000. 

Just weeks later I sold them for $12.50 a share! That’s a $2.50 per share gain of 900 shares, equating to $2,250 gain in just a couple of weeks. Which was more than my normal bi-weekly paycheck was!!

This was a huge revelation for me! But it would never have occurred if I had not originally invested into my 401k! It’s an amazing first step toward growth, progress and financial understanding. 

Being able to know, see and comprehend what is inside of your 401k and what exactly you might be invested in – knowingly or unknowingly is something I can help with, if you want. Just email me! jerremynewsome@gmail.com

Excited to see your growth from here my friend! Thank you for reading!