Would a 1.5% 401k match be enough to make you look for something else..? I’m 22 and feel like if I stay at that low of a number for retirement I will never get anywhere. The economy is not great right now for Gen Z and future retirement.
Age: late 40s
Issue: as of my last paystub I have over contributed to 401k ($26k+ roughly) due to a miscalculation in my percentages from multiple contribution sources.
What options do I have? I would like to keep the money invested somehow.
Appreciate recommendations!
Hi soon to be 56M with a bit over 1.1 million in retirement accounts. Includes about 28% in bond etf, 325,000 in Roth 401k, and rest in a couple individual stacks and majority in traditional IRA. I contribute 22% in Roth 401k and my employer matches 5%. I make 152,000 per year. Plan to go part time at age 60-65 and fully reiterate at 65. I also have 140,000 in money market and 80,000 in equities in brokerage account. I would like to spend between 70-80,000 per year in retirement which does not include my projected social security at 67 close to 4000 per month. Is it smart to continue contributing 22% to my 401k or should I cut back some. Thanks
Question?
If I make a hardship withdrawal from my 401K but have 35% withheld at time of withdrawal will my tax return for next year suffer even if I withheld the 35%? I live in Texas so there’s no state tax.
Employee match is free money, I’ll take it. So can I start taking the rest and putting it into after tax accounts? I’m still young enough to invest aggressively and return 5x what I contribute. I know any contribution helps but it seems it’s time to try to build that after tax account. I only have about $25k in taxable