Time to bump up that 401k

By The Book

Well-Known Member
I still have 25 years left. I thought I was doing great. Guess I need to reevaluate.
Your doing great! Now increase your percentage by 1% every August 1st. If you owe on your taxes at the end of the year I have a suggestion. If your taxes are prepared by a professional service ask them what would I owe if I put in 15% on my 401k. Try to find the break even point so you are paying yourself and not Uncle Sam.
 

Browndriver5

Well-Known Member
Im in a situation where i stopped my 401k contributions just for the fact im trying to save to buy a house cash, but at the same time im paying too much in taxes at the end of the year. Idk what to do lol
 

Orion inc.

I like turtles
Im in a situation where i stopped my 401k contributions just for the fact im trying to save to buy a house cash, but at the same time im paying too much in taxes at the end of the year. Idk what to do lol
Keep contributing and maybe take out the loan on the 401k for the house. I know guys who did that for a down payment
 

Orion inc.

I like turtles
So what about 14k year?




My wife's raise next year will almost cover that. I think we will be ok.

Not to mention if I just go to work everyday I'd make about 15-20k more.
You'll be fine. Dave is probably mad that you'll have kids and still retire at a better level of comfort than him.

If he would stop working for free, he'd be fine.
 

Brownslave688

You want a toe? I can get you a toe.
Im in a situation where i stopped my 401k contributions just for the fact im trying to save to buy a house cash, but at the same time im paying too much in taxes at the end of the year. Idk what to do lol
I understand not wanting the loan but intrest rates are so low right now it's dumb not to just take out a mortgage.
 
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