REDreaming
Confused about dryer sheets
- Joined
- Sep 17, 2005
- Messages
- 9
<delurking>
I'm contributing $15K this year to my 401K and I need to decide whether or not to sign-up for the extra $5K as a 401K catchup (for being over 50) this year. I'm struggling with this and I'd like to hear your thoughts.
I do not get a company match on any of my 401K contribution.
As a bit of background, I'm 55, single, net worth about $1.25 mil. including $530K in a 401K and $230K in various IRAs.
I could retire now, but am considering working until 58 to get an increase of about 30% in my pension.
At this point, I'm wondering if it makes any sense to keep adding to my 401K ?
I have no problem saving money, so if it's a better decision to save after-tax dollars (instead of pretax dollars in a 401K), I can easily do that.
Thanks,
REDreaming
<back to lurking>
I'm contributing $15K this year to my 401K and I need to decide whether or not to sign-up for the extra $5K as a 401K catchup (for being over 50) this year. I'm struggling with this and I'd like to hear your thoughts.
I do not get a company match on any of my 401K contribution.
As a bit of background, I'm 55, single, net worth about $1.25 mil. including $530K in a 401K and $230K in various IRAs.
I could retire now, but am considering working until 58 to get an increase of about 30% in my pension.
At this point, I'm wondering if it makes any sense to keep adding to my 401K ?
I have no problem saving money, so if it's a better decision to save after-tax dollars (instead of pretax dollars in a 401K), I can easily do that.
Thanks,
REDreaming
<back to lurking>