If your base income is at least $145k.
For paycheck to paycheck people a 401k is a luxury.
The loan and hardship rates are 20% combined. Worst thing you can do with a 401k.
This message has been edited 1 time(s).
Unless the law changes, if you are 50+, catch-up contributions have to be Roth in 26
Replies to: "Unless the law changes, if you are 50+, catch-up contributions have to be Roth in 26"
- Vanguard average and median 401(k) balances...I mean, wow. [LINK]
- NedoftheHill - 9:32pm 6/24/25
(12) [View All]
- Unless the law changes, if you are 50+, catch-up contributions have to be Roth in 26 - LanceManion - 6:27am 6/25/25
- We are not a nation of savers - WoodstockIrish - 8:03am 6/25/25
- At even the highest payment rate, if you get individual SS at 62, it is around $2800.month. - LanceManion - 11:48am 6/25/25
- You need 401K plus maxxing out Roth in your 20s to have a decent retirement in your 60s. - iairishcheeks - 4:05pm 6/25/25
- Not smart taking it at 62..it goes up 8% each year you wait. - WoodstockIrish - 3:15pm 6/25/25
- Yes and no. - jakers - 12:37pm 6/27/25
- If I was 62 I'd take it and invest it in crypto. - iairishcheeks - 8:57pm 6/25/25
- Agree. Waiting is the way to go. [NT] - LanceManion - 3:24pm 6/25/25
- At age 63, Social Security and home equity is all my wife and I have - MarkHarman - 11:08am 6/25/25
- Sorry to hear that [NT] - WoodstockIrish - 3:15pm 6/25/25
- If you ever do a reverse mortgage, try to do it when interest rates are low. Higher rate means - LanceManion - 11:44am 6/25/25
- At even the highest payment rate, if you get individual SS at 62, it is around $2800.month. - LanceManion - 11:48am 6/25/25
- We are not a nation of savers - WoodstockIrish - 8:03am 6/25/25
- Thanks for posting this…kids in H.S., and certainly in college need to understand that basic concept - TyroneIrish - 10:23pm 6/24/25
- Unless the law changes, if you are 50+, catch-up contributions have to be Roth in 26 - LanceManion - 6:27am 6/25/25