Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Does the "Bogleheads guide to Investing" book have an error in it?
Old 11-02-2008, 08:36 PM   #1
Full time employment: Posting here.
dessert's Avatar
 
Join Date: Jan 2007
Location: Southern Louisiana
Posts: 517
Does the "Bogleheads guide to Investing" book have an error in it?

I am reading the latest version of "Bogleheads guide to Investing". On page 132 it says that the 401K contribution limits for 2008 are $16,000 with $6,000 for "catch up" limits for us over 50. I was really surprised to see this because I have already been limited at $20,500 for the year (401K with Fidelity). I doubt Fidelity would make a mistake on this but I will call them tomorrow to make sure. If this is true then I still have time to add more.
I am thinking that the Bogleheads book just had an error in it's information.
Other than that, I recommend the book to others. I know it is basic but if that is what you are looking for this is a pretty good source of investing information.
__________________

__________________
dessert is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-02-2008, 08:56 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Gone4Good's Avatar
 
Join Date: Sep 2005
Posts: 5,381
Pretty sure the 2008 limit is $15,500. I'm not positive what the catch-up is, but I think it's $5k . . . so your $20,500 seems right to me.

That sounds like one of those things the $10 per hour fact checker is supposed to catch but can't be bothered with.
__________________

__________________
Gone4Good is offline   Reply With Quote
Old 11-02-2008, 09:06 PM   #3
Full time employment: Posting here.
dessert's Avatar
 
Join Date: Jan 2007
Location: Southern Louisiana
Posts: 517
Quote:
Originally Posted by . . . Yrs to Go View Post
Pretty sure the 2008 limit is $15,500. I'm not positive what the catch-up is, but I think it's $5k . . . so your $20,500 seems right to me.
Yes, I agree because I have more faith in Fidelity to know the limits.
I wouldn't mind putting more in though.....pre-tax.
__________________
dessert is offline   Reply With Quote
Old 11-03-2008, 09:42 AM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
freebird5825's Avatar
 
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,017
oooohhh, a research question...my fave

i went to the IRS site www.irs.gov and did a search on "401k contribution limits". the simplest answer from the search results seems to be this one:

401(k) Resource Guide - Plan Participants - Limitation on Elective Deferrals

all search results can be seen here
IRS.gov Search Results
__________________
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
freebird5825 is offline   Reply With Quote
Old 11-03-2008, 08:17 PM   #5
Full time employment: Posting here.
dessert's Avatar
 
Join Date: Jan 2007
Location: Southern Louisiana
Posts: 517
Quote:
Originally Posted by freebird5825 View Post
oooohhh, a research question...my fave
Glad I was able to help you!
Thanks for the info too. Looks like I can add an additional $1500 next year and the year after that. That's as far as my planning goes. Then it will be time for "dessert" after this meal.
__________________
dessert is offline   Reply With Quote
Old 11-04-2008, 09:22 AM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
freebird5825's Avatar
 
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,017
Quote:
Originally Posted by dessert View Post
Glad I was able to help you!
Thanks for the info too. Looks like I can add an additional $1500 next year and the year after that. That's as far as my planning goes. Then it will be time for "dessert" after this meal.
the amount of info to be found at the all search results (2nd link) would be like eating 3 kinds of pie right after thanskgiving dinner. urk!

YW for the info.
__________________

__________________
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
freebird5825 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Book report: "True Enough" and "truthiness" Nords Other topics 3 10-15-2008 09:28 PM
Book report: "The Little Book of Value Investing" Nords FIRE and Money 5 01-08-2007 12:00 AM
"Book" report: The Adventurer's Guide to Early Retirement, 2nd edition Nords Life after FIRE 16 10-13-2006 11:27 AM
Book report: "The Complete Idiot's Guide to Early Retirement" Nords Other topics 0 06-21-2006 02:49 PM
Book reports: "Blink" & "Tipping Point" Nords Other topics 2 12-04-2005 05:15 PM

 

 
All times are GMT -6. The time now is 09:40 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.