Please explain 401k?

Go read some books.

 

How about you google “compound interest” and have someone read the results to you before circle time and your pudding cup, ya turd.

 

Depends on how old you are. The older you are, the better a 401k might be for you.

 

I love to read! Would you mind terribly if I asked which books would be best to learn about how bad a 401 (K) would be for me?

 

Sorry, I'm not following. Why would that be?

 

Try https://www.amazon.com/401-k-aos-An...01(k)aos&qid=1534604866&sr=8-1&ref=mp_s_a_1_1

 

Matching funds from your employer can be enormous improvements over almost all short term gains. Especially conservative investment gains, which is where you should be moving your investments as you get nearer to retirement.

 

Oh, the book by Tanner. I remember him back a year or two ago when he was on Russ Whitney's team and his "teach me to day trade stocks" schemes. I didn't realize he'd popped up again after his buddy Russ got sued into oblivion for his fraudulent presentations...............

 

Why would you think something is bad when you are fixing to plow a few hundred thousand into it?

It would be easier to pass a camel through the eye of a needle with such optimism.

 

I agree with what you say, but I am still not following why free money is more important for old people than young people? You could easily argue that it is far more important for young people, because they have decades and decades of compound interest they can use to grow that free money into far more significant sums.

As far as the standard asset allocation scheme, I am in Dave Ramsey's camp. One should never have more than 3-5 years of retirement expenses in "conservative investments". It makes no sense to put money on the side lines at age 55, when a woman has an expected life expectancy of nearly 90. In the 35 years in between, inflation will devour that money unless invested in equity investments. The standard asset allocation model is what "everybody" says you should do, but I vehemently disagree with it, unless you are well into your golden years or you have a very small nest egg.