Reply to I can contribute about $50K into my 401K

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Reply to "I can contribute about $50K into my 401K"

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[quote=Anonymous]How much on savings do you have not in the 401k? It's not a piggy bank.  If you have 6-8 months of living expenses and a good 5-10 k in the rainy day fund, then you can think of spending on something non-essential.  You also don't say how old you are. If you're in your 20s, then you're in great shape. If you're in your 40s, you're way behind the curve.

I'm in my 40s, have about 450k in my 401, a ton of equity in my house, and more than a year of living expenses in cash reserves. I need to put more in my child's 529 - although that is likely to get paid with family money.  I don't feel secure enough at my income level to take anything other than a basic vacation (like a weekend away road trip) and I have a paid - off car that is going to go until it dies.

They way to really have enough is not to behave like money burns a hole in your pocket. From your questions, I get the sense that it does. Live like you're poor, and then you do t have to worry about when life bites you in the ass. You can pay for the new roof, the new HVAC, the health copays that insurance doesn't cover, etc. [/quote]

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