- Joined
- Sep 10, 2006
- Messages
- 4,071
I work part-time and just now became eligible for our 401K. So far, we have been living off of DH's income (after funding his 401K fully) and using my income to fully fund Roth's followed by investing in our taxable account.
Now that I am eligible for my company's 401K, I'm trying to figure out if it is worth participating. The match isn't great - 12.5 cents on the dollar up to 4% of my salary. The fund selection, however, is good. No loads, low expenses.
We are hoping (if Mr. Market cooperates) to FIRE in about 4 years, at the ages of 46 (me) and 50 (DH). Our net worth is split right now about 41% in taxable and 59% in 401K's/Roth's.
The benefits of the 401K of course are tax-free growth and reducing our current taxable income somewhat. However, we were trying to grow our taxable account so we could hopefully avoid doing 72T at some point (I'll admit, it seems so confusing, I'm nervous about attempting it.)
I'm trying to figure out how to analyze the situation to make a decision on how we want to proceed. What other questions should I ask/things should I consider?
Now that I am eligible for my company's 401K, I'm trying to figure out if it is worth participating. The match isn't great - 12.5 cents on the dollar up to 4% of my salary. The fund selection, however, is good. No loads, low expenses.
We are hoping (if Mr. Market cooperates) to FIRE in about 4 years, at the ages of 46 (me) and 50 (DH). Our net worth is split right now about 41% in taxable and 59% in 401K's/Roth's.
The benefits of the 401K of course are tax-free growth and reducing our current taxable income somewhat. However, we were trying to grow our taxable account so we could hopefully avoid doing 72T at some point (I'll admit, it seems so confusing, I'm nervous about attempting it.)
I'm trying to figure out how to analyze the situation to make a decision on how we want to proceed. What other questions should I ask/things should I consider?