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      12-05-2019, 02:05 PM   #93
bimmer456
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Drives: 340i
Join Date: Nov 2016
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Quote:
Originally Posted by grocerylist View Post
Quote:
Originally Posted by corn18 View Post
Everyone should contribute at least to the company match. That is free money. 42% of my current 401k balance is from the company match (and the growth on that match).
I'd recommend maxing out at $19000 if you can, unless your company has poor and costly fund options. Especially if it will drop you to a lower tax bracket.
I would also max out IRA and Roth IRA as you can trade individual stocks with those. Max out Roth IRA, traditional IRA and Roth 401k. If leaving a company roll over all 401ks to equivalent IRA (Roth 401k to Roth IRA and traditional 401k to traditional IRA). If putting money in Roth 401k it will not lower taxable income but that is for the better because you don't pay taxes later when it is worth a lot more and thus a lot more taxes.
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