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Can someone help me out with my 401k contributions.
26 years old, make 187k base. For the past 3 years, I have maxed my 401k and was contributing 10% to traditional and 10% to Roth. I have about 125k in my 401k account, am down about 20% but I don’t really care/know it will correct it’s self. Im in no target funds all index/mutual funds.
How should I reallocate my percentages to traditional and Roth? Should I ONLY do Roth and not traditional? Does my company match on Roth or only traditional
Accenture @
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I think I’ve read you want to be 1x your salary saved in your retirement vehicles (401k, ira, etc) at 30
For us it calculates the % from gross pay then just takes it from the end amount, so it would be $10k a year
Most of the firms out there have calculators that should be helpful (vanguard, fidelity, schwab)
This was a 5 second google exercise….
https://www.troweprice.com/personal-investing/resources/insights/youre-age-35-50-or-60-how-much-should-you-have-by-now.html
https://www.forbes.com/advisor/retirement/average-401k-balance-by-age/