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Reply #7: When you contribute to a 401(K), you are not giving the company "use of your money" [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010)

A HERETIC I AM

(1000+ posts) Send PM | Profile | Ignore

Thu Aug-14-08 08:22 PM
Response to Reply #3

7. When you contribute to a 401(K), you are not giving the company "use of your money"

401(K) plan funds are, for the most part, invested in Mutual Funds that have nothing to do with the company you work for. Even if the plan offers company stock, there is no obligation for you to purchase it. There are situations where the company automatically purchases company stock for you, but this is done with the matching contribution or a portion thereof and you are under no obligation to retain those shares in the account.

The point of participating in a 401(K) plan is that they are an effective method for putting away a large sum for retirement.

You aren't letting them use the money. Thinking that is the case is DUMB.

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