$401K vs. saving for down payment?
Wednesday, August 29th, 2007
Agnes b. asked:
I’m thinking of maxing out my new 401K (company is matching at 25%) but my spouse (who has a 401k from previous employment but does not put anymore money in it) thinks that it is not a good idea to put any money in my 401K, and would prefer that I save this money for a down payment (1st time buyers). I am 30 yrs old and I don’t have any money saved for retirement yet. Any advice?
Already some really good information, than you all! Additionally, how do I contribute enough to get the full company match if the company matches 25% of my contribution up to the IRS maximum (which is $15,500 in 2007)?
Question posted courtesy of: Andrew
I’m thinking of maxing out my new 401K (company is matching at 25%) but my spouse (who has a 401k from previous employment but does not put anymore money in it) thinks that it is not a good idea to put any money in my 401K, and would prefer that I save this money for a down payment (1st time buyers). I am 30 yrs old and I don’t have any money saved for retirement yet. Any advice?
Already some really good information, than you all! Additionally, how do I contribute enough to get the full company match if the company matches 25% of my contribution up to the IRS maximum (which is $15,500 in 2007)?
Question posted courtesy of: Andrew
