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Reply to "Only 100k in 401k at 50"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Op, you are doing great! Starting plowing money into your retirement accounts. The first $100k is really hard, but you did it! Things will accelerate now. Start plowing money into your retirement accounts up to the max. If you have any room in the budget consider putting $400 a month into a 529 for the oldest kid. Aim to cover one third of state college costs from savings. Anything extra will get rolled over to the next kid if they are also college bound.[/quote] I disagree. It would be great to help your kids financially if you can, but it doesn't seem to be in the cards for you. Focus on your retirement vs. school savings. [/quote] When will college be? If OP decides they enough money in retirement accounts when they turn 59.5, they can withdraw from that without penalty to help fund college.[/quote]
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