is 401k really all that useful for those of us hoping to retire well before our 60th birthday?
If you have other assets and investments at least contribute the minimum for your company match. No sense throwing away free money.
Yes max out, minimize taxes, excess savings goes into taxable accounts. And if you have no excess savings, then FIRE is not a realistic goal.
Makes sense, thanks everyone. Yes 19k is very low (I’m saving in 6 digits every year) so seems reasonable to max out and get the tax benefit. Now traditional vs ROTH?
Wondering that too
Typically traditional. Roth only makes sense if your tax bracket is going to be higher when you retire, which is not true for a vast majority of people.
Yes, Google the roth ladder conversion.
You, sir (or madam) are the reason I’m on Blind. This is awesome! Thank you
Yes. Helps you survive after 60.. let your post tax help from 40 to 60 .. pretax after 60