New to 401k and would like some advice on what to pick Any advice is greatly appreciated. I’m 32 years old and don’t have any retirement plans as of yet VANGUARD MID CAP INDEX • STANDARD STABLE ASSET 2 • VANG TARGET RETIREMENT 2065 VANG TARGET RETIREMENT 2060 • DFA US TARGETED VALUE • FIDELITY INTL SMALL CAP • VANGUARD GROWTH INDEX • MFS INTERNATIONAL EQUITY • FIDELITY 500 INDEX • Cohen & Steers Rea…

How much does your employer kick in to your 401k? I’m a financially illiterate guy in my mid 40s who has worked in the film industry since I was 20. Because of the nature of the business I’ve never had a 401k and I’ve no idea how they work. Due to the strikes I’m currently looking for employment outside my industry. While interviewing yesterday I was told the company would match my 401k contrib…

Wife and I are thinking about doing early withdrawal from 401k? Do we have any other options? Greetings, My wife and I are stuck in a rock and hard place. I’ll make this part short to explain our reasons on why we want to but maybe y’all could help us figure out another way to make the money we need. Long story short – We want a kid. We had a daughter in October of 21 and she was born premature. After a month in the NICU she passed away….

Keep the home or 401k/brokerage Getting divorced. Home is worth $1.3M. Total equity in home is $600k. Mortgage rate is 2.25%. Either the 401k plus some cash or the brokerage account could cover STBXs equity. I looked at Zillow history and the price of the house went up 3.7x in the last 25 years. Since 2008, it’s gone up 1.7x. Would you keep the house or the 401k/brokerage? T…

Feeling trapped after taking personal loan out of 401k Long story short…. Built a house, wanted extras in said house took out $10,000 for the 401k. Now however I realize how I am stuck here until I pay it off. I could potentially make almost $8 more a hour if I go elsewhere but don’t know if I can because I don’t have the money to pay off the loan. Is there a way out of this or am I just overthink…

Are my 401k fees too high? My company uses Human Interest to offer us a 401k plan. Instead of paying the admin fee themselves, they pass the fee to us, the user. My current 401k fee is 0.9% (0.4 custodial fee and 0.5 advisory fee, neither are avoidable). Is this too high? If so, what can I do? submitted by /u/TheFreshMaker25

401k contributions while paying off high interest debt? My employer doesn’t match 401k contributions until after 1 year of working there. Should I postpone 401k contributions to focus on paying off debt? Once I meet the one year mark then contribute up to the match until I’m out of high interest debt? submitted by /u/No_Skill424

35 with no 401k I need help with investing options Hello Everyone, I’m 35 and just recently got myself together enough to start working on my future. I got a job currently making about 36k a year. I have no 401k just some money in savings I plan to try and create an IRA as well. I am looking to set up my 401k investing. My company matches 3% I plan to at least put that much in as I’m not sure wh…

At what salary should you be maxing out 401k How much, in your opinion, is the threshold salary at which you should be maxing out your 401k each year? I know it’s more complicated and depends on variable factors like COL in your area, debt, life goals, etc. l’m just curious if there is a general consensus of “once I start making $X I will feel comfortable deferring $22.5k”. I think this is…

Should I contribute up to employer match or go up to 15% for 401k? Getting conflicting answers from everywhere. Recommended just the match and save from friends, managers, financial advisors but everywhere online says 15% minimum? Any thoughts? submitted by /u/TheEpicBox

Is it more important to invest more money in your 401k when you are younger rather than when you are older? I ask because I have a idea (might be a dumb idea Idk thats why I’m asking) I’m currently contributing 10 percent of my pay in to my 401k. Its like 15 percent with the employer match. I’m 32 years old and my idea is in maybe like 8 years drop my contribution down to 5 percent which would bacicly give me a 5 percent raise! Am I dumb? Does this ma…

Seeking Advice on Rolling Over 401k’s for Aggressive Growth Hey there fellow Redditors, I’m on a quest to streamline my retirement funds and could use some wisdom from the financially savvy among you. I’m 39, with a couple of 401k’s from previous gigs, both housed in Fidelity. One’s nestled in a target date fund for 2055, while the other’s lounging in a basic index fund. My current workplace buddies up w…

65 yo father is considering moving 401K funds into a NY Life Variable Annuity (FP Series). Good or bad idea? It has an annual death benefit reset rider to protect against market downturns. The fees are a bit steep initially, but go down over time. He has other sources of retirement income (pension, rental properties, etc) and will not need to access these funds anytime soon, if ever. The primary goal here is to secure generational wealth. Any and all f…

My 401K has lost nearly 25% of its value in the last 3 years. Am I doing something wrong or is the market that terrible? My 401K is through Merrill Lynch, and I contribute 17%. I’ve always had it kind of as “set it and forget it”, but after digging through the performance of the last few years, something seems off (or at the very least, it’s not growing as it projected). My beginning balance in December 2020 was $115,000. In that time, I’ve since contributed an a…

Transamerica 401k options My company uses transamerica, I am 24 years old and a newbie at this my companie matches 100% up to 4% I currently just have it at 100% into Transamerica life goal 2060 Is this a good option? submitted by /u/Cmaxey1999

My 53 year old dad only got a 401k 4 years ago Hello everyone, My dad today decided to ask me how much money he has on his 401k so I go and look and I see it’s only 28k 🥲🙃🙃🙃 I asked why is it only 28k when he’s 53 he said I only started a 401k 4 years ago. It shocked me because why in the world are you starting a 401k only 4 years ago?!?! I am stressed he won’t have enough to retire, what ar…

Should I pause my 401k contributions? As the title says, I’m debating pausing my 401k contributions. My employer has recently paused their match at the same time they are doing layoffs, which doesn’t give me much confidence in them. I still invest in other forms but I’m wondering if I should just save some extra cash in an uncertain time with my company. I don’t have much for an eme…

LPT: Convert your tax-deferred 401k/IRA/TSP to tax-free Roth before 2026. The Tax Cuts and Jobs Act of 2017 is ending at the end of 2025. This means that personal income tax rates will revert back to their pre-2018 levels. For high income earners, that means a return to the 39.6% marginal tax bracket and increase from the current 37%. Also, those who are currently at 24% may see a shift up to 28%. Take advantage of th…

Should I pay off my $14k IRS tax det with my 401k? Long story short, I had some issues paying my taxes when I was at 1099 for a few years and racked up a little over $22,000 in IRS tax debt. I set up a payment plan and I am paying $337 a month. I have paid it down to $14,000. I have 13,500 in my 401k. I also have $4900 in credit card debt, I pay $100 a month, and a $23,000 car loan, I pay $483 a…

After a lifetime of bad financial decisions I am now saving money each month. Prior to this I had no savings, no 401k. What would be the smartest investment strategy? I am in my 40s. I’m saving roughly four thousand a month right now. Also, I am a U.S./Canadian (dual citizenship) expat who currently lives and works in China. Due to US tax laws, IRAs are out of the picture for now. submitted by /u/new_being_here