Contributing to multiple retirement accounts vs maximizing contributions to one I’m a 27 year old government employee. I contribute 4.5% of my gross income to a pension plan (defined benefit, guaranteed lifetime payments from 63 to death assuming I’m fully vested) and 7% to a 401k in a target date fund. No employer match, unfortunately. If I leave government work before 10 years, I can get my pension contributions refunded …

Contributions To Photography I’m flustered about the beginning of a photography Carrier/hobby for pay. I love it as a hobby and would want to just snap for a gig. How did you start going? submitted by /u/VenomClashOfClans

I’m about to max my 401k, is there any advantage to reducing contributions so I don’t until the end of the year? I estimate I’ll end up maxxing my 401k in about 3 paychecks, at my current rate, with about 7 paychecks to go. My company match is 3%. Is there any benefit to slowing contributions to space it out over the last 7 paychecks? Also, bonus question, between my main job and my moonlighting gig, I’ll end up over contributing to retirement funds – it w…

would it be a good idea to stop HSA contributions? Quick background: single dad, two kids, maxing out my HSA contribution for the past several years. Current balance is $33.5k with all but $100 invested. We’ve been fortunate enough to not had a single medical expense that couldn’t be covered out of pocket, so the HSA has been completely untouched the entire time. The intent was always for me let…

Best way to save/invest financial contributions from my sister for house expenses for her benefit? I (31F) currently do not have a job as I just quit to go back to school to get my master’s (in social work). (Maybe I’m stupid, but I left a pretty well paying job but I was miserable.) I just moved into a new place with my sister (19). I am not able to work due to internship hour requirements on top of school classwork. I paid the year’s rent …

Should I pause my personal 401(k) contributions to pay off student loans? Hey all! My company puts in 6% of my salary (100k) into my 401(k) regardless of what I put in. Do you think it’s a good idea to set my contribution to 0% for the time being so that I can focus on paying off my student loans in 2-3 years? My student loan balance is $32k and interest will be 5.005%. If I set my 401(k) contribution to 0%, I will b…

What happens to my 401k if I quit my job? Do the contributions my employer made stay put? Or do I surrender that upon resignation? I’m trying to get some info about this through my employer, but because I’m not sure if I will be resigning, I do not want my employer to know about it. I can’t seem to find a way to ask questions without getting them involved. submitted by /u/puppyroosters

Saving for a downpayment: Slow 401k contributions vs taking from Roth contributions? I’m 26, Id love to buy a house with my girlfriend within 2-3 years. I make $72k a year, she owns a business that did $50k or so in year 1, but her profit margins are still being worked on. Let’s assume her income is $20k net. Here’s our breakdown: $9k joint savings in HYSA (specifically for down payment) $10k personal savings $3k checking $48…

No retirement fund, 36, where should I start Roth IRA (my wife will too) with ability to max contributions every year I have gotten lost in the wealth of information , but understand maxing ira contributions every year will be a good start for me. Both my partner and I should be able to do this for the foreseeable future. Neither of us have current investment accounts or retirement funds. I don’t understand how to choose where to have my account and then what t…

Limits on contributions I am maxing out on a Roth 401k. What are the limitations for me to also max out a Roth IRA? I’m 55+ Thanks! submitted by /u/After-Might-1874

Should I pause my 401k contributions until my husband finds a job My husband lost his job 2 weeks ago (not going into specifics as there is an investigation). Anyways I’m still working and contributing to 401k. Had to add him onto my employer’s insurance so he has coverage in case anything happens. So to add him to insurance will be about 55$ more each paycheck. Insurance is health, prescription and dental for…

Should I stop 401k contributions to attack my 7.5% Mortgage? Hey all, I made an enormous mistake and bought a house at a 7.5% 30-year mortgage last fall. I understand this is a terrible rate and I shouldn’t have done it, but for the time being I am stuck with it. I’m losing confidence that rates will decline, and I’m unsure of how I need to be handling my personal finances. I currently bring in about 85k,…

My employer says they 401k match 4%. Turns out they meant 4% of contributions, not 4% of salary. Is that normal? https://imgur.com/a/U2rXY4a Employer contribution language: https://imgur.com/a/NrUKlbt I thought 4% matching meant 4% of my total salary matched. I asked HR and they said no we match 4% of each contribution. So I contributed $2000 and they gave me like $100. Is that normal? I feel like that’s barely anything and I’m not even sure how much to c…

Reduce 401k contributions temporarily to save up for a house? Wife and I live in a very HCOL area. Houses start at about 7-800k for a fixer upper. An “average” 3-4 bedroom that’s move-in ready will generally go for 1.3-1.5 million. My annual income is enough to support a mortgage on that but the downpayment is obviously very high (assuming 20% down). I am considering reducing my 401k contributions to help …

Does increasing your 401k contributions by a few % make a huge difference? Is it worth it? 25F, make 78k salary with 15k bonus. I contribute 14% to 401k with a match at 4%, with a vesting period, I plan on getting about 60% of the match because I might change jobs to increase salary, vesting period is 5 years for full amount. Current amount vested is 16k, 19k with the match. I max out ROTH IRA and HSA (starting in 2022) i have about …

Does it ever make sense to withdraw Roth IRA contributions to assist with house down payment? Hello. I’m soon-to-be-single and am shopping for a small (800 last time I che…

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