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401k roth
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 876139" data-attributes="member: 12570"><p>Your words have given me pause to rethink my strategy. I think I can accomplish both goals (saving for retirement and paying off my mortgage) without the Roth 401k. My plan is to contribute all that I can to my current 401k. I will then increase the number of withholdings to ensure that my take-home pay stays about the same. This will then allow me to apply extra principal payments to my mortgage.</p><p></p><p>Yes, I realize that I will miss out on the tax advantages of the Roth 401k, but I cannot adequately fund a Roth 401k and pay off my mortgage at the same time, especially with only 7 1/2 years to go. </p><p></p><p>I don't plan on touching my 401k until I am required to at 70 1/2. I plan on supporting myself with my pension and using SS as "fun money".</p><p></p><p>Any advice?</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 876139, member: 12570"] Your words have given me pause to rethink my strategy. I think I can accomplish both goals (saving for retirement and paying off my mortgage) without the Roth 401k. My plan is to contribute all that I can to my current 401k. I will then increase the number of withholdings to ensure that my take-home pay stays about the same. This will then allow me to apply extra principal payments to my mortgage. Yes, I realize that I will miss out on the tax advantages of the Roth 401k, but I cannot adequately fund a Roth 401k and pay off my mortgage at the same time, especially with only 7 1/2 years to go. I don't plan on touching my 401k until I am required to at 70 1/2. I plan on supporting myself with my pension and using SS as "fun money". Any advice? [/QUOTE]
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