401k?
 

is there a point in time, where you should stop maxing out? $$amount? i figure, in the best case scenerio, compounding interest should dwarf, any monthly contribution, right?

Never stop maxing out. I'm in a 357 which is a little different, but all you do is roll it to a safe investment fund 1 to 3 years before retirement. To stop maxing out can change your tax situation drastically. Additionally, even if interest eventually rises above contributions (my current situation in a healthy market), each dollar in you account will earn that much more interest. It really is just a numbers game.

The idea is that maxing out lowers your taxable income, so you wouldn't really want to do that.

Of course, everyone's situation is different. Maybe you have "enough" in the 401k and want to diversify with real estate, some of which has it's own tax advantages.

Just gotta run the numbers, it's all about the numbs...

ALWAYS contribute whatever amount your employer matches. That way you're getting the maximum amount of FREE MONEY.

Your pretty young, put in more than you think you can afford. You will figuer out a way to get by. I got by for 16+ years paying child support that I just figuered was part of it all. If I never paid it I would not have saved it, I would have spent it instead.

Advice from an ol farthead - save more than you think you can - have it drawn out automatically and make it painfull to get at. You will not regret it. Trust me!

Werd!! I agree 100% I have almost 400K in mine...its money I would have squandered otherwise

:cool: so, are ya single? Have I told you about my soon to be 18 yr old daughter?

I am single, Im also looking to retire at 50 in 6 years.

all those that have 401's dump as much money as you can into them

I also prefer company from my own age group

mike, that is funny! if tim and i could only freeze ourselves for several years....thanks guy...i already do what you say....just wondering what people further along in the game do.

knock it back for a couple months and do your suspension.

Too funny...just what us 40 something single males need, an 18 year old female...even I am not that brave...