UPS 401K

[Cloud]

The 401K lets you reduce your taxable income by deferring taxes to when you retire/withdraw from it. From a tax benefit perspective, you get the most benefit out of it when you make over 52K for singles and 104K for married (and assuming you are the only income-earner).

Since there's no employer match and if it's just you, there's almost no benefit under 52K. You are already in a low 10-12% tax bracket and could probably use more money now than later.

 

[Lineandinitial]

Pros - You'll hopefully have money set aside for later years
Cons - You may die before you use it / ex-wife could get at least half

 

[IVE GOTTA PACKAGE 4U]

The 401K lets you reduce your taxable income by deferring taxes to when you retire/withdraw from it. From a tax benefit perspective, you get the most benefit out of it when you make over 52K for singles and 104K for married (and assuming you are the only income-earner).

Since there's no employer match and if it's just you, there's almost no benefit under 52K. You are already in a low 10-12% tax bracket and could probably use more money now than later.

Use the ROTH option then.

 

[Rack em]

Use the ROTH option then.

Post #7

 

[Dirk Digler]

Anyone that says a 401k is a bad idea is most likely broke. Don’t listen to them, they are trying to drag you down to their poor level of choices.