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Pru 401(K) just started showing up in paycheck?
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<blockquote data-quote="MendozaJ" data-source="post: 1600123" data-attributes="member: 55737"><p>Do it. Everyone will tell you they wish they started when they were younger. It's not an either/or situation (savings/401k). You need both because you do not want to withdraw from your 401k. I did it at a younger age when I walked out of my crappy office job to travel. I don't entirely regret it, but it's a very bad thing to do. </p><p></p><p>A few caveats. The market won't go up forever. Everyone is waiting for that correction, but after that happens 19,000 is the next stop. The cycle will continue so there will be periods where you actually lose money. The biggest caveat is Congress eyeing those Roth accounts as a source of tax revenue. </p><p></p><p>The numbers are daunting, but I got sound advice from a couple of my buddies in the finance field. </p><p></p><p>13% contribution (the suggested minimum). 10% Roth and 3% 401k. Generally, it should be a 3:1 ratio, but you can only enter whole numbers.</p><p></p><p>Bond Market Index (Fund) 10%</p><p>Balanced 10%</p><p>S&P 500 Equity Index 30%</p><p>S&P 400 Midcap 15%</p><p>Russell 2000 20%</p><p>International Index 10%</p><p>US REIT Index 5%</p></blockquote><p></p>
[QUOTE="MendozaJ, post: 1600123, member: 55737"] Do it. Everyone will tell you they wish they started when they were younger. It's not an either/or situation (savings/401k). You need both because you do not want to withdraw from your 401k. I did it at a younger age when I walked out of my crappy office job to travel. I don't entirely regret it, but it's a very bad thing to do. A few caveats. The market won't go up forever. Everyone is waiting for that correction, but after that happens 19,000 is the next stop. The cycle will continue so there will be periods where you actually lose money. The biggest caveat is Congress eyeing those Roth accounts as a source of tax revenue. The numbers are daunting, but I got sound advice from a couple of my buddies in the finance field. 13% contribution (the suggested minimum). 10% Roth and 3% 401k. Generally, it should be a 3:1 ratio, but you can only enter whole numbers. Bond Market Index (Fund) 10% Balanced 10% S&P 500 Equity Index 30% S&P 400 Midcap 15% Russell 2000 20% International Index 10% US REIT Index 5% [/QUOTE]
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Pru 401(K) just started showing up in paycheck?
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