401k contributions maxed out with an additional 9%company match, do you create a personal investment account and add 1-3% each year or stop saving for retirement, because the 401k is enough and build personal savings for random big purchases every 5 years?
I know this is very vague and depends on a million circumstances but generically speaking, someone in the middle/earlier stage of their working life or so, 25 years more to work. I am kind tired of dumping all my money to 401k and now, after 11 years in my career, I’m finally maxed out ocontributions. Would like to dump that into personal random savings instead of another investment long term deal.
Two kids, 5 and 3. Both with college funds set up dumping 200 each a month into those accounts. Figure whatever is in them when they get to the college stage they can have for payments.
Wife is a teacher with state pension and whatever horrible 401k deal they have on top of the pension.
I should really pay for a financial planner but figured random weird hunters on Rokslide will suffice.
I know this is very vague and depends on a million circumstances but generically speaking, someone in the middle/earlier stage of their working life or so, 25 years more to work. I am kind tired of dumping all my money to 401k and now, after 11 years in my career, I’m finally maxed out ocontributions. Would like to dump that into personal random savings instead of another investment long term deal.
Two kids, 5 and 3. Both with college funds set up dumping 200 each a month into those accounts. Figure whatever is in them when they get to the college stage they can have for payments.
Wife is a teacher with state pension and whatever horrible 401k deal they have on top of the pension.
I should really pay for a financial planner but figured random weird hunters on Rokslide will suffice.