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Reply to "Reduce Retirement Contribution?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]if you can manage not to do it, don't. You'll lose the tax benefit on those $, which is a sure ~25% return on your money. I would try to squeeze your budget in other ways. Keep track of every expense (YNAB or mint) and find ways to trim. Try to keep at least 3 months of an emergency fund. Good luck, it gets easier. [/quote] Is this really true? Maybe someone can explain it to me. You have to pay full taxes on 401k distributions when you retire, right? So all you are doing is *hoping* that the tax rate will be lower in retirement than it is now. I must be missing something, so if someone could fill me in, I would appreciate it.[/quote] PP is talking about the tax benefit you get NOW by contributing to your 401k. [/quote]
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