Dear MarketWatch, I'm 27 and contribute 17% to my 401(k). Should I lower this to save up for a home?
I am a single, 27-year-old male. I am beginning to save for a down payment on a home. I currently contribute about 17% to my 401. While that is great, it doesn’t leave me very much room to save for a new home. I am looking for perspective about lowering my 401 contributions to help save up for a down payment on a home, versus maintaining 401 and lengthening my home-buying timeline.First of all, congrats on contributing so much to your 401 - you’re in an elite minority.
If you’ve done that, some experts MarketWatch consulted with said that it’s OK for you to lower your 401 contributions — to a point, and for a short time — if you want to buy a home. . Certified financial planner Bobbi Rebell cautions that if you decide to lower your contributions to save for a home, you should still make sure you contribute at least enough to get the company match: “That is free money and often a return of 100% depending on the specifics of the plan,” Rebell, who is also the host of the Financial Grownup and co-host of the Money with Friends podcasts, adds.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
27 Women on the Wardrobe Staples They Live For'When I get dressed in the morning, I like to imagine myself walking into the diner in Romy & Michelle's High School Reunion and asking for the 'businesswoman special.' I basically dress for my thirteen-year-old self. It's a lot of pastels, tweed, heels and as many hair accessories as I can make office-appropriate. My favorite pieces recently have been from the brand Alessandra Rich. I'm particularly obsessed with this blazer and wear it over dresses and skirts practically daily. Black offers a palate cleanser to whatever else I'm wearing, and the fit is super flattering. I love the square neck - it's such a cool touch. I think I need to invest in the pink version as a Christmas gift to myself.'\u2014 Nell Diamond, Founder and CEO, Hill House Home
Weiterlesen »
NMC Health tumbles up to 27% after Carson Block's Muddy Waters says it's short | Markets InsiderNMC Health, a United Arab Emirates healthcare company listed in London, crashed as much as 27% on Tuesday. The stock fall came after Carson Bloc...
Weiterlesen »
How valuable is Medicare Part D prescription drug insurance?New study shows average lifetime benefits are more than one third of 401(k)/IRA balances
Weiterlesen »
How to buy a down jacket that's actually warmOur friends at inputmag know how to buy a down jacket that's actually warm.
Weiterlesen »