Making 21k annually and upped my contributions to 10%. What else can I do to increase?
You have to be an idiot to contribute anything other than the maximum possible to your 401k unless you have loans to pay off. Anything past your living expenses and loans should go straight into it. It's basically free money.
You could contribute 11%
Actually at your tax bracket you should contribute to a Roth IRA instead.
>>1141627
Hm, hadn't thought of that. I'm 35 though, is it too late to get into the Roth IRA game?
>>1141629
you're 35 and make 21k annually?
Forget too late to get in the Roth IRA game, you got in too late in the life game.
>>1141629
>21k at 35
Jesus christ what is wrong with you? Yes, you should contribute to a Roth to take advantage of your low tax bracket right now. If you envision staying at 21k your entire life it doesn't really matter
>>1141617
It's only free money if you contribute up to the employer match. Above that, it's a little more questionable.
If it's saved and invested, it's still available for retirement when the time comes. And you can access it in the mean time without the withdraw penalty. For example, if you want to start a business or a down payment for a home, that money would be available. Once it's in the 401k it's kind of locked in there, only good for one thing, which is retirement.
Then again, if you're the type to burn that extra cash an soon as it hits your bank account, then yes, the 401k is probably a more sound retirement strategy.
Thanks for the tough love anons. Imma look into these
>>1141629
Don't listen to the trolls, trying to make you feel bad. If you're doing the best you can and you're happy, then you are doing alright.
>upping 401k past employer match limits
>when not maxxing ira
poorfags gonna poor i guess
>>1141617
well for my company, it's free money after 4 years of mandatory service.
>fuck vesting
>>1141627
He should get the most he can match first. No point of opening a Roth if he's not taking the employer matching.
