We all want to know that perfect 401K ratio to save for retirement. How much do we spend? How much do we save? These questions are timeless and should always garner the same response.
“Should I max out the money that I’m putting into my 401K plan?”
It really depends
Well, the answer is it depends on what’s happening in your 401K.
Generally speaking, if your employer is matching contributions to your plan, then you absolutely want to put in at least as much as being maxed. But any amount over that, there are other alternatives for retirement plans that you might want to consider.
So of course, every situation is very specific to what your numbers are. But maxing out your 401K is not always the best advice that you want to consider with that question.
Finding the answers
I created twenty videos responding to the most important questions that people ask me about their money, their financing, their investment, and their retirement plans.
If you’d like to know the answer to these questions, sign up and we will send you, as a free gift, these twenty videos responding to these most important questions.