Anyone else lose their 401k employee match? I know not to touch it but should I cut expenses in other areas and still contribute what my employer would have? Or pad my emergency fund?

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I cut my 401(k) contribution in order to pad my emergency fund. Too much unknown right now about upcoming client projects.

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I’d put it in a Roth IRA tax year 2019 (you can still do this if you haven’t filed IIRC). Because taxes are already paid on it you can take it out - up to the amount you contributed - without fees or penalties. Essentially an emergency fund that grows tax free (but is also exposed to market downturns). In 5 years you can take even take the growth out penalty and (I’m almost certain) tax free.

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I never commented on contributions. You said in five years you can take the growth out tax free and penalty free. That is true under pretty specific circumstances and nowhere near a general rule. So no, it was nothing like repeating what you had stated. Maybe re-read your own post? Lol

In general good idea to continue to contribute even without employer contribution for retirement benefit.

But argument could be made that you can get better returns outside 401K investment choices. I am sure someone will say Backdoor IRA. But also need to consider short term tax implications.

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And yes, our agency discontinued the 401k match for the rest of the year. And we took pay cuts.

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I padded my emergency cash fund to a comfortable amount and then opened a Roth IRA earlier this year that I contribute to monthly on top of my employers 401K. The Roth IRA is susceptible to the market but it’s a great tax advantaged safety net to have. If you’re not tight on money and have a cash emergency fund you’re good with, I would still contribute to your company’s 401K because you should still save for retirement but consider opening your own Roth IRA to have on the side to further your savings.

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Where do u work?

Our 401k match was also suspended.

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