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Tuesday, October 08, 2002
I just signed up for a 401(b) plan, which allows me to put away money for my retirement (still a long long ways away). It's good because the amount you put away and the interest you earn on it is tax deferred. This means that you won't get taxed on it until you take the money out, which is a good thing. Ideally, you should put away as much as you can. Being a poor man, I'm only allocating $50/month because I have living expenses (such as food and shelter).
To sign up for the plan, I met up with some advisors and representatives from the consulting group AIG Valic. When he asked me about what I knew, I was able to give a decent summary of the plan. Apparently, I impressed him and in response he said, "You seem to have a really good understanding of this [401(b) plan]. You know, if this [job] doesn't work out for you, you could always come work for us." An unsolicited business job offer..quite interesting.
5:47 PM Albert
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..a life in DUO