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Old 07-16-2008, 12:18 PM   #1
724Skinsfan
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Join Date: Jan 2006
Location: Roanoke, VA
Posts: 3,508
Supplementing pension ideas

Does anybody have some advice as to finding the right balance of supplementing a pension with other forms of investing and simply using your income for other things in your everyday life. I used to contribute the max to my 401k with my previous job. The employer matched up to 8%. No that I work in the public sector with a pension, I'm struggling with justifying putting the money into the 401k (Fidelity). Here's what I'm thinking:

1)My first choice is to do what I should have done earlier which is to roll it over into a Roth IRA and keep contributing.
2)Another option is to enroll in a 403b plan, which allows up to 15k/year and also a "catch-up" period if I'm lagging behind.
3)Yet another option I have is to put more money into some stock that I own to really boost those shares up. Currently I just automatically roll the dividend check into purchasing more stock certificates but I could set up a monthly payment plan to buy more.

I work for the state/county government so my income isn't particularly enviable but the pension/benefits is pretty nice perk. I can't put my money everywhere and also I want to be able to enjoy myself at my current age.

Any suggestions before I set up a meeting with a financial planner would be most welcome.
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