r/Retirement401k

I make 100k a year in base salary and 40-80k (varies a lot) a year in commissions while having an employer sponsored 401k with a 4% match
 
I currently contribute 17% (seems to come off the base salary only) pretax to 401k while taking advantage of the 4% match from employer.
 
I also have an HSA in which I contribute roughly 120 a month from paycheck. I get paid biweekly so 57 per check.
 
I currently have 110k in my 401k, 45k in emergency fund hosted by an HYSA, and $600 in my HSA. I also have 0 debt. As a 41 year old who is behind on retirement savings, I wanted to know if I should start a Roth IRA.
 
Question is – considering my current allocations of my paychecks, what would be the ideal contributions to the 3 buckets (401k – HSA– Roth) if I were to add in the Roth IRA?
 
As of now the money is mostly going to the 401k with the small amount to HSA with 0 Roth.

I feel like I am doing it wrong and could use some guidance.

I am a 41-year-old single professional woman, filing my taxes as "Single." My annual pre-tax income is $225,000. I currently do not carry a heavy debt burden; my only debt is a low-interest (4%) car loan, which I plan to pay off ahead of schedule

Currently, my total personal assets amount to approximately $1.88 million; over the past four years, I have accumulated $672,000 in my 401(k) retirement plan. I have consistently contributed 10% of my monthly salary to this account

At present, my 401(k) asset allocation is quit simple: 70% is invested in an S&P 500 index fund, and 30% is invested in a "2055 Target Date Retirement Fund." I realize that this allocation strategy is perhaps overly simplistic and basic

Recently, I have been contemplating whether I should rebalance my investment portfolio. I am considering allocating a portion to "total market index funds," but I worry that doing so might expose me to excessive risk. Since I lack professional investment expertise, I am currently simply adhering to basic principles of retirement savings.

My employer's 401(k) matching policy is as follows: for the first 6% of an employee's salary contributions, the company provides a 50% match. Consequently, I strive to contribute the full 6% to maximize my employer match, while simultaneously contributing additional funds to my personal Roth IRA

I am eager to learn about practical and down-to-earth asset allocation strategies from peers who are roughly my age and income level. Do you prefer to stick with simple index funds, or do you actively adjust your holdings based on market trends? I would sincerely appreciate any actionable advice you can offer

Thank you all very much!

Borderline GenX/millennial here. Random question for the group . How many of you know individuals who have $0 saved for retirement and are planning on an inheritance to get them through their old age? I’ll go first. I know two individuals - one is approaching 50 and his parents still fund his lifestyle (along with his family of 4). Another is 45 with no money-just plans on inheriting from his 73 yo dad. That’s his plan.

I make 100k a year in base salary and 40-80k (varies a lot) a year in commissions while having an employer sponsored 401k with a 4% match
 
I currently contribute 17% (seems to come off the base salary only) pretax to 401k while taking advantage of the 4% match from employer.
 
I also have an HSA in which I contribute roughly 120 a month from paycheck. I get paid biweekly so 57 per check.
 
I currently have 110k in my 401k, 45k in emergency fund hosted by an HYSA, and $600 in my HSA. I also have 0 debt. As a 41 year old who is behind on retirement savings, I wanted to know if I should start a Roth IRA.
 
Question is – considering my current allocations of my paychecks, what would be the ideal contributions to the 3 buckets (401k – HSA– Roth) if I were to add in the Roth IRA?
 
As of now the money is mostly going to the 401k with the small amount to HSA with 0 Roth.

I feel like I am doing it wrong and could use some guidance.

In a bit if a pickle here, trying to figure out which one is going to work best for me.

I am 26 and I currently make 88k a year, however I average about a 6.5% raise yearly and I am about to move to a new project where I will be getting a 18.5% COLA adjustment, which puts me over 100k a year.

Im moving to Oregon which has a higher state income tax than my current state of Colorado. Is it going to be beneficial to utilize the pre tax contributions to lower my taxable income while I live in Oregon? I make out my Roth IRA every year and currently do 7% to my 401k with a 6% employer match. Currently have about 60k in my 401k (currently a roth 401k) and about 13k in my Roth IRA

Hi all I am a 66 year-old optometrist in New York City. I have owned my own business for over 25 years and definitely have been working with taxable income for over 35 years at this point. I am looking to retire at 70 years old or later so I have a few few years to go. After Covid, we changed my business from an S Corp. to a C Corp. and some of my income is taken in distributions while I collect a $75,000 a year on the books.
My wife also works. She is about a year younger than me and we would be looking to retire at the same age. She works fully on the books as a registered nurse.

I’m not particularly savvy at Personal financial planning, but would increasing my income over my remaining working years boost my Social Security payout significantly? Is this a smart idea or should I be doing something else that is savvier?
Please be gentle on me.. I am interested in any and all advice; this is not my strong suit !
According to the online calculator on ssa gov:
Retirement at 67
$3454

Retirement at 70
$4284

Some context. Late 30s married couple. Combined income about 210k. Currently investing the max 15k into roth iras (7500 each). Maxing out our HSA. She contributes about 13k to traditional 401k and I contribute around 10k to my traditional 401k.

My company offers roth 401k (hers does not). I was wondering if there was any benefit to switching to roth contributions (the 6% company match would continue to be pre-tax dollars)?

I look at it as were contributing 15k to a roth ira so I dont need to, plus the match is our contribution but pre-tax. So my company would technically be investing more to match if its pre-tax as well (if this makes sense).

However id like a 2nd opinion on this.

Thanks!

I’m 40 and have been thinking a lot about retirement, saving, and whether I’m overdoing it at the expense of enjoying my life now.

For context, I’m a teacher and have worked in the same school district for 18 years. I currently make about $165k a year. If I stay until 55, my pension should be about 60% of my final average salary, which would likely be over $100k a yearin retirement.

Financially, I think I’m doing well, but I still feel constant pressure to save more. I have close to $1 million invested across Schwab accounts, including taxable brokerage and IRA accounts. I also have a 403(b) through work with about $26k in it, and I’m contributing about $1,027 every two weeks. I also own a small co-op apartment in Manhattan that I rent out, and the rent is higher than the monthly maintenance, so it produces some cash flow.

I should clarify that I do not currently own a primary home. I live in Manhattan. The apartment I own is also in Manhattan, but I don’t see it as a realistic retirement home. It’s a walk-up with no elevator, no washer/dryer, and I don’t think it would be practical long-term as I get older.

I’m also not sure buying a home right now is a good idea, especially with housing prices, interest rates, and so much changing. So even though I look financially secure on paper, I still feel uncertain because I don’t know what my long-term housing situation will be.

I’m not trying to retire tomorrow, and I’m not trying to be reckless. I just keep asking myself: at what point is enough actually enough?

What I’m really wondering is whether I should stop or reduce my 403(b) contributions. Right now I’m putting in about $1,027 every two weeks, which is roughly $2,000+ a month. Do I really need to keep putting that much into retirement, given my projected pension, existing investments, and rental property? Or would it be reasonable to use that extra money to enjoy my life now?

I like traveling, going out, taking care of myself, and having experiences while I’m still young enough to enjoy them. I don’t want to wake up at 55 or 60 with a great pension and strong investment accounts but feel like I missed out on my 40s because I was always saving for “later.”

At the same time, I do value security. I know health care costs can be unpredictable, housing is a big unknown, and I don’t want to put myself in a bad position later. But with a projected pension of over $100k, nearly $1 million invested already, ongoing income, and a rental property, I’m starting to wonder whether I’m already on track enough to loosen up.

For people who are strong savers or financially disciplined:

How did you decide when you were “on track enough” to stop aggressively saving and start enjoying more of your money now?

Did you reduce retirement contributions at some point?

Do you regret saving too much, or do you regret not spending more while you were younger?

I feel caught between wanting future security and wanting to actually enjoy the life I’m working so hard for. I’d really appreciate any perspective.

I’m just getting started and Robinhood is all I have ever used

Are you as aggressive as you would be if you didn’t have a pension? I’m a 40m with 170k in Roth 401k, I earn $130k a year. But I only put 10% in and have no match. The caveat is that I have a pension that pays $120k/year when I hit the age of 56. There’s no real fear of the pension going anywhere as it’s one of the most well funded pensions and is almost at self sufficiency levels.

Should I still eventually try to max out? Or at least put 15%? Does having the pension make anyone else ease up a little on their 401k?

I started contributing at the age of forty. Currently have 2.4M in my IRA (951K in pretax 401K, 1.1M in a well balanced stock brokerage account, 315k in another brokerage/bonds to use for short term withdrawals . In my banking account, I have 30K. I didn’t start collecting my SS yet. At the fully retirement age, my social security monthly benefit would be 3.9K. The equity in my property is 300K and outstanding mortgage is 500k at 5.35% interest rate. My plan is to sell the property within the next 2 years and move to France to establish my residence there.
Do you believe I have enough to live comfortably if I retire today? My current monthly spend is 8-10k. Thank you for your feedback.

I am 26, with around 90k in my 401k, almost entirely Roth. I always see people say to max your employer match contribution, but mine is unlimited 50%. I’m very grateful for this and have been pushing my contribution to 12-13%, but I’m concerned I’ve been leaving a lot on the table. Should I ever be putting money in my brokerage account if I still have juice to squeeze in my employer match?

Edit: I increased my contribution to max it out at the $24,500 limit and get the full $12,250 match for my employer, thanks for the advice. For all of you who want to join my company, if you’re an MEP engineer or PM hit my line.