401k advice requested - 25 years old, live in nyc, make 125k. I’ve always maxed my 401k to 19500 with a split of regular and roth. Always do the 6k of Roth IRA too. New firm has no matching policy. I understand the benefits of tax so maxing it is beneficial, however, I’m almost breaking even each month. Is it smart to slow the contributions, keep investing myself so I will have money for a down payment down the road? Don’t want to pull on my 401k if not needed

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My hot take: put in what you are comfortable with but also don’t kill yourself trying to save for retirement. There’s no guarantee we live long enough to see our 401k money.

That being said, also don’t neglect your future you’ll severely regret it. Personally I balance saving enough to be set for retirement and keeping enough to live comfortably now.

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If you max just your IRA (S&P500 index) from age 18 to 30 and never invest another penny the rest of your life, you will retire a millionaire.
The point being time is your friend right now, and if I were you I would max all my retirement accounts. (No cap gains cant be beat)
Houses are a huge capital expenditure and take your money away from the market. I think you will earn more money over time, and when that shift happens, buying a house will make more sense.

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Thank you for finding and correcting my error. I have a bad habit of being “directionally” correct, but those details #am.i.right

I would decrease contributions to 401k so that you have more liquid money in the future for down payments on a house or something

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You can borrow from your 401-k for a down payment - the lower of 50k or half of your total balance. You do have to pay it back with interest and you lose the value of the gains you would have seen on that money, but it is still definitely a tax advantaged way to save for a portion of the down payment

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Not that $10k gets you very far anymore, but you can pull $10k out of your 401k penalty free for a down payment on your first home. It's taxed, but not penalized.

I wouldn't slow them. This year may be tight, but if everything is maxed, any additional income you make in future years will be yours and all liquid. Feels good to only have to pay taxes and not increase retirement savings. Just think of what every one of those early dollars will compound into 🤤

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Agree with this - my wife and I saved aggressively in retirement accounts early, like you are, and basically generated no cash (note, we did have an emergency fund in place). If you stay in this business you are a bonus away from your down payment, which is what we did. I do not regret the choice and calculating the FV of our current accounts, we are comfortable. The more difficult behavior to start is the one you’re doing now.

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Following - similar situation. Out of curiosity, what is you monthly rent payment now?

Sc2 - this is nyc. Tough to get the quality for this price point

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