MC0493

Well-Known Member
Did close to 6 hours today, started snowing here in the northeast around 11am so that made things fun. Local 177 so we can't be forced, if you wanted your 8 today you just had to speak up. I didn't have enough hours for it. Easy day cruising around listening to music really.
 

BlackCat

Well-Known Member
Well dan when you’re living paycheck to paycheck it’s hard to put extra into your 401k.

Everyone's financial situation is unique so I am not going to try and lecture.

But I do think you need to look at it a little differently.

Temporarily bumping your 401k contribution (lowering your taxable income) and possibly changing your w-4 exemptions would leave you close to where you are at right now.
 

35years

Gravy route
Gonna do ten next raise In june
I started slow on my 401k. But each time I raised the %, I realized the tax savings nearly made up for the $ taken out. So my take home was nearly the same. Now after all these years, without ever missing the money, I have over $350,000 from my tax deferred retirement account. I hope to have double that amount when I reach 65.

I know I will have to pay taxes as I take the money out, but not paying the tax up front made it possible for me to put money into the 401K without feeling any pinch.

The earlier you start the larger it will grow. One thing for sure, we can no longer rely completely on our pensions and Social Security.
 
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