more in paycheck deductions or get it in paycheck and invest?

topic of convo last night and interested in what you would do.

TIA

more in paycheck deductions or get it in paycheck and invest?

More in paycheck - higher deductions is just giving the government a loan. I'd rather have more up front.

Re: more in paycheck deductions or get it in paycheck and invest?

I am not good at "investing" ie I dont know how to follow the stock market!

Thats why I like a tax refund which usually funds camp or a vacation.

I do invest well in my 403B and as best as I can for my emergency fund and college for 2 kids.

Thats what works for me.

Re: more in paycheck deductions or get it in paycheck and invest?

i always fear of having to pay so i rather them take more out plus i am horrible saver ... as my mom puts it; l like to give the government free loans

Message edited 5/11/2015 10:11:56 AM.

Re: more in paycheck deductions or get it in paycheck and invest?

dh and i just had this convo...we are getting more in our paychecks to invest

more in paycheck deductions or get it in paycheck and invest?

We both have more deductions taken out, at least we know we are getting it back come March.

We both have pensions and 401k (403b for me) that we contribute to each paycheck, so I'm not worried about investing more.

Re: more in paycheck deductions or get it in paycheck and invest?

more in paycheck deductions or get it in paycheck and invest?

We like to set up deductions pretty close to the correct amount. We usually end up owing a small amount.
But...after I stopped working, DH did not adjust deductions. We are due a refund this year and it will take us longer than usual to get it back because someone used DH's social to file a fraudulent return. So, you can't count on getting refund checks quickly.

more in paycheck deductions or get it in paycheck and invest?

We have higher deductions and usually get back a pretty big refund. I would change it but I'm too fearful I would do it wrong and owe. I have no idea what to claim. We bank our refunds and just put them in our high yield savings so I kind of look at it as a forced savings anyway...

Re: more in paycheck deductions or get it in paycheck and invest?

thanks all!

more in paycheck deductions or get it in paycheck and invest?

We have the most taken out as possible and get a large refund

more in paycheck deductions or get it in paycheck and invest?

I usually under do it a little and write a check come April. I'd rather have more cash in hand and put it where I want it. You don't have to know about "investing" or play the stock market. Even putting in savings or money markets is better than nothing.

One strategy would be to cut your deductions and with the extra money every pay period make a scheduled transfer to savings. That's what I do. I time the the transfer so literally the day I get a paycheck there's also a transfer to a money market account so it "feels" like my paycheck is really less than what it is.

Message edited 5/11/2015 9:53:38 PM.

Re: more in paycheck deductions or get it in paycheck and invest?

I take out the highest amount.

I also make sure to put money into my 403b...as much as I talk about saving on my own, it's too easy to touch that money. AND I get company matches....win-win!

I also utilize benefits such as my HSA/FSA. Makes my paycheck a lot smaller, but with the FSA especially, it's nice to get that money back at least via direct deposit after I pay for something child care related.

DH and I rarely get back much anyway since he is self-employed and always owes. It's a shame what the govt does to small business owners....that's another thread though!!

Message edited 5/12/2015 5:47:33 AM.