Consulting

Thoughts on reducing 401k % during this bear market slash recession?

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I’m increasing mine! Buy low!

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Now is when you want to increase it.

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Unless you’re 59 and retiring in a month stop worrying about it

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Buy the dip. Would you rather pay more?

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Buy high sell low right?

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Different opinion here. I reduced a bit, but did the math to see if I was giving more to taxes over an actual increase in net pay. I also considered the yearly cap. At the rate I was contributing I would’ve hit the yearly in a few months. I’m trying to save a bit more in the emergency funds in case of layoffs. So I say, if you have an emergency fund that can hold you in case of a bad turn in the economy, then increase!!!!! Buy low. Now is the time to buy, buy, buy!! I personally don’t feel comfortable not having a 6 months of savings in this uncertain time. If I did, then I would’ve increased now definitely hit the cap and then hope the economy upticks for a nice year end on my 401k

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Thanks C2 :)

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Increase

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I’m going with 90% salary for 2 months to get as much in now as possible

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Who knows.. I was able to change it to 90% on the website.. guess we’ll see how much my next paycheck is

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No no no. Maxed out 401k ftw!

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Same question. I’m guessing not wise to reduce % now and increase the % later in the year, hoping the market is better but still making it to the yearly cap?

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Yes reduce it the bottom wont be till summer then increase it

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