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Tom Bagot, RIP
Hi IQVIA friends, I am looking for some guidance here. Currently designated at Indegene as pre-sales solutions manager but work pre and post sales till delivery construct gets matured. Have experience in solutioning and strategising commercial and non commercial global content & web production, marketing communications and Omnichannel campaign, along with Patient Support Program design. 6yrs of experience Any roles that fit my skills at Iqvia ?
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No. Many companies will match your 401k contribution up to a certain amount, thus doubling the money inside the account. And on top of that you are gaining interest in those funds and have opportunities in other investment options. A regular savings account has very little, if any, interest. No shade but since you work in HR should probably be informed about 401ks…
I will note that a high yield savings account is better than just a regular savings account. Right now there are high (ish) Annual Percentage Yields so you’re making interest on your savings. If nothing else you should move your “normal” savings account to a high yield
Hey guys let’s be nice, OP is an HR Generalist not an HR Specialist
And they work in HR just about sums that one up
My gut tells me that you already know what to do and are only checking to see what our response will be to this. Nice attempt:)
Are... Are you joking
Yes, if you want to make voluntary tax payments that’s better for the rest of us.
Definitely keep avoiding the 401k
I love the company match, but with today’s economy I feel like I’m throwing money out the window. I’ve already lost my entire year’s worth of contributions in 9 months. I’m thinking about shifting some of my funds to my savings. Bad thing about that is losing the tax break.
SM1, some people just want to work forever!
For those of you who are concerned you are loosing money by contributing to your 401k while the market has been dipping, research dollar cost averaging. Sitting in cash is hardly ever the right move unless you are right about to retire/retired. Even then it’s typically better to be invested, just in a more conservative portfolio.
Yes, I understand the concern with putting money into a 401k with how the market is right now but traditionally it has always bounced back. And if your company matches your investment, then they are basically giving you free money. I'm down $10k in my 401k but I look at it as money I never had before. Keeping cash in a savings account isn't really doing anything for you and won't be enough to live off of in 20 years because it doesn't match the rate of inflation (even though it's ridiculously volatile right now). If you're that concerned about it, I suggest putting the majority of your savings in a high yield savings account and open a 401k and see how it does for you and then adjust accordingly :) Ally is paying a 2.25% on its high yield savings account balances, and 2.2% on No Penalty CDs (meaning it's money you can take out before it matures). Even though I'm stressed about all of my investment accounts right now, I sleep knowing that at least I'm making dividends and that the money is not gone- it's just down- and will likely come back before I need it. I have some interest-paying savings accounts as a cushion ;)
Yes. I started contributing the max (yearly allotment). After a few pat periods I didn’t notice the difference in my net pay.
Chief
Absolutely fund your 401k and max it out if you can. Your savings account is losing purchasing power by the minute. Yes markets are down, but long term, they go up. And they go up a lot from a point like where we’re at now. This is a finance bowl, sorry, but I feel like everyone here should already know this.
You are potentially leaving free money on the table.