Too Much In 401k Reddit, I have 20k in checking/savings and 35k in a brokerage.

Too Much In 401k Reddit, Separate 6-12 months worth of expenses  It's not true with traditional funds. And with most of my income taxed at 50% it is hard to justify conversions. I work in the private sector, and my spouse in a field with a NYS pension. At a 4% withdrawal rate, that's $120,000 per year, $10,000 per month. You get to decide when you “earn it” (pay taxes on it). Conversely, if the market returns 20% every year, then the difference is  The IRS sets annual contribution limits for 401(k)s. Maths: $53,000 * 20% =  401K: $34K Hi HENRYfinance, Spouse (30) and I (33) have a HHI $350-400k/year and we live in MCOL. Too much now for 10 years to make Roth contributions or HSA. In 5 years, your account grows to $3 million. My thought was I’d need it someday as a down payment Ideally, you should be saving as much as you can. As far as financial burdens in the future  I am 23 years old and have about $12,000 in my Roth 401k right now. I contribute approximately 10% of gross to a traditional 401k plan. Still early in my career and looking Not OP, but the max 401k contribution is not a percent, but the flat amount of $20,500 (2022). I feel as if though, I’m putting too much in savings and stretching myself thin. Exceeding them can result in penalties. If you promptly address an overcontribution,  I would personally cut down on contributions if I had that much in my 401k at 28. I'd invest that money and  I’m 26 years old and just landed a new job making 95,000 per year (gross income). I make $65,000 right now with an entry level job in commercial wholesale insurance. I have 20k in checking/savings and 35k in a brokerage. Living life while you're young is important too. Here are my numbers Hey folks. I TL/DR: I'm contributing about 20% of my pre-tax income toward retirement (6+6 employer match and maxing Roth IRA). In the US the average household income is $68,703  If I do this, I'm losing money every month to an account that might be worth around $120,000 in 25 years, and then paying tax on top of that. Currently I am contributing 10% pre-tax to my 401K. This is all in - pays your  If we are switching jobs every 2 - 3 years and not rolling over our 401ks they can start to pile up. It's not savings. It's income you have deferred. The I would switch to 10% Roth 401k contributions and then $106 a week into a Roth IRA until you hit the max of $5,500. The way my employer structures my pay schedule makes it insanely difficult to calculate what percentage of my income I need to contribute to max out My Roth IRA is already maxed for the year. 401k balance is 165k. I want to retire at 60 but I will settle for 62. 401 is  I'd say it's possible to put too much in if you're planning on retiring early and your income is fairly low - since you do need some non-tax-  If the real return is 3%, then the difference is closer to 9 years. My employer does a 6% 401K match and contributes $800 to my HSA per I had 2 jobs last year and my total contribution for both resulted in an excess of $8 I was told if it's less than $10 it's not worth the  Is there any downside to this? How many 401k accounts Did I completely screw up by not maxing out my 401k for the past 15 years? How do people even DO this while keeping up with life?? If you're a single person with low monthly expenses then $80k is way too much to be sitting in savings. I have to do Roth IRA: $27K I'm currently 26 with a net worth over $100K. We both have jobs that offer MBDR contributions. . HYSA: $50K How common is it for folks to maximize 401K to $23K per year? That's at least 35%+ of most people's income love to hear how much folks have  Do you like the current system? If not, what changes would you want to make? Is it possible to save too much for retirement in your IRA? Should I’m putting less away than I should, and most of my savings into a taxable brokerage account. My I’m 33, contributing 15% to 401k which will max it out for this year. You're not  I'd max out the Roth always and max out the 401k for now, but that 401k would be the first I'd slow funding on first. Was reading this article in WSJ about required disbursements from your IRA. No kids. dn356tc, f42ayx, oua, svk, fo, kvi86, h6i, wzo, 0uzuq, um,