I’m just now at 33yo starting to contribute to a 401k (so stupid for me to wait this long, I know).
I have enough savings to cover me for the rest of the year (rent and all bills). I live very simply with zero debt.
If I contribute my entire paycheck from now until December to my 401k, I believe I will be able to max it out and get to the $19,500.
I want to do this bc I’m so late in starting to contribute to my retirement fund, I feel the need to be “aggressive” and catch up. Right now I have it set to 20% of my paycheck (starting next week), but I’m confident I can increase that amount to 100% of my paycheck and be fine.
I don’t have any kids, car is paid off, and I have a significant savings. No major purchases needed in the near future, but I would like to eventually get a loan for a house. If I’m contributing 100% of paycheck to 401k, will it show lenders that I technically make “zero salary,” since it’s all getting put away pre-tax?
Also, I’d like to contribute to a Roth IRA and max that out as well, starting this year. I feel behind in the whole retirement savings and want to get on the ball ASAP.
Submitted April 26, 2019 at 11:39PM by bel_esprit_ http://bit.ly/2UEvE6A
