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Reply to "I can contribute about $50K into my 401K"
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[quote=Anonymous]Are you rolling over from a previous account? Your post makes little sense. If you are talking about an annual contribution, you can put in $17,500 a year. Are you thinking that you would take money out to pay for rainy day things? The penalties are ridiculous. Are you thinking that $50k is all you will ever put into it. 401Ks are "set it and forget it". Never think of it as "now" money unless you are retired. Get a rainy day fund and a longer term savings fund. [/quote]
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