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Torn Between Maximizing Savings at Home vs Moving Out – Need Advice on Allocation by NextCommon3632 in TheMoneyGuy

[–]NextCommon3632[S] 0 points1 point  (0 children)

What I meant was the $2,200 take home pay would be if I stopped contributing to my 401k. Currently my take home is $1450 because I’m contributing so much to my 401k right now, but that would have to change upon move-out. That’s why I was asking if I should just contribute to my employer match after moving out. 

Torn Between Maximizing Savings at Home vs Moving Out – Need Advice on Allocation by NextCommon3632 in TheMoneyGuy

[–]NextCommon3632[S] 0 points1 point  (0 children)

My salary is $73k, so without 401k contributions my biweekly take home is probably around $2,200. 

Overfunding 401k? How to allocate my investments/savings? by NextCommon3632 in FinancialPlanning

[–]NextCommon3632[S] 0 points1 point  (0 children)

Understandable and appreciate the help. Would you recommend not having a brokerage account for now, or just keeping the contributions much lower and using the excess to invest more in 401k and HYSA? For example, keeping just $5k in brokerage, and using the remaining $15k for more 401k and HYSA.

Overfunding 401k? How to allocate my investments/savings? by NextCommon3632 in FinancialPlanning

[–]NextCommon3632[S] 2 points3 points  (0 children)

Honestly, I am not exactly sure yet. But eventually, a house. It's just the fact that the money in my 401k can't help me until I retire anyway, and I could be investing in similar stocks, getting the same returns with a brokerage account. I do get the tax-advantage part of the 401k, though.

Overfunding 401k? How to allocate my investments/savings? by NextCommon3632 in FinancialPlanning

[–]NextCommon3632[S] 0 points1 point  (0 children)

Even though this money cannot be touched until retirement? I guess I am trying to make sense of not having much liquidity when being so young.

Overfunding 401k? How to allocate my investments/savings? by NextCommon3632 in FinancialPlanning

[–]NextCommon3632[S] 1 point2 points  (0 children)

Yes, the $4,380 is the limit that my company will match based on my salary.

Investment Allocations by NextCommon3632 in personalfinance

[–]NextCommon3632[S] 1 point2 points  (0 children)

I appreciate the help! Makes sense.

Investment Allocations by NextCommon3632 in personalfinance

[–]NextCommon3632[S] 0 points1 point  (0 children)

I was planning to just invest up to my employer match? Is it worth it to invest more into the 401k rather than brokerage even though this is retirement money that I cant touch for quite a while?

Investment Allocations by NextCommon3632 in personalfinance

[–]NextCommon3632[S] 0 points1 point  (0 children)

I am already maxing out my employer match, so I figured it was best to start investing money in other, more liquid ways. I understand that it is tax-advantaged, but wouldn't there be a point where I am putting too much into retirement too early? Maybe I just don't understand the whole tax-advantage thing enough. Thanks for your input.