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<blockquote data-quote="Bagels" data-source="post: 1090946" data-attributes="member: 43436"><p>Contributing to a traditional 401K decreases your take home pay. Yes, it decreases the taxes you currently pay, and increases your paper assets, but your contributions end up in a heavily restricted account. </p><p></p><p>Since UPS does not match our 401K contributions, one should speak with a financial consultant before making 401K contributions; typically, it's in your best interests to pay off high-cost debt & accelerate mortgage payments in lieu of 401K contributions. There's also other investment opportunities available that you may be better off in. Financial service companies make billions off managing your money... don't be fooled by the "one size fits all" approach. Do what's best for you.</p></blockquote><p></p>
[QUOTE="Bagels, post: 1090946, member: 43436"] Contributing to a traditional 401K decreases your take home pay. Yes, it decreases the taxes you currently pay, and increases your paper assets, but your contributions end up in a heavily restricted account. Since UPS does not match our 401K contributions, one should speak with a financial consultant before making 401K contributions; typically, it's in your best interests to pay off high-cost debt & accelerate mortgage payments in lieu of 401K contributions. There's also other investment opportunities available that you may be better off in. Financial service companies make billions off managing your money... don't be fooled by the "one size fits all" approach. Do what's best for you. [/QUOTE]
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