I have what is probably an unusual situation. Y household income for the last several years was very high while our expenses were very low. This allowed my spouse and I to save a lot of money and since the amount we were saving was higher than the limits for tax advantaged accounts, a lot of it went into taxable investments. Our income has since dropped a lot and lifestyle remained the same (the income drop was purposeful on our part). The difference is not much less, such that we can no longer max out the 403b while paying expenses.
The question I have, is does it make sense to put my 403b contributions (currently at the level needed for the match) to the max limit and use our savings for our expenses? As long as we still meet our budget and don't spend our savings faster than what we set aside for saving I think it should be ok.
What's your opinion?
Submitted July 22, 2019 at 09:56PM by finance_tway_abcdefg https://ift.tt/30TBNPY
