PSA: check retirement fund amounts

[niccig]

I am such an idiot. I though I was maxing out my retirement account, but I hadn’t changed the contribution amount from when I set it 5 years ago. The max limit has increased since then. I have to specify how much is taken out of each pay check, so I have to do the math. Go double check!


Sent from my iPhone using Baby Bargains

[KrisM]

I'm glad you caught it! Also remember the year you turn 50, there is an additional amount you can contribute. You don't have to be 50 to do it, just turning 50 that year.

We always miss by a little because it's by percentage. I wish I could tell them a dollar amount instead.

[squimp]

Also, don't forget to check the proportions in different growth funds. I set mine up at age 35 and now that I'm, well, a little older, I probably need to start moving away from 90% aggressive funds! Also, the funds that grow more increase at a higher proportion so you shift toward the more growth-oriented over time.

[niccig]

Also, don't forget to check the proportions in different growth funds. I set mine up at age 35 and now that I'm, well, a little older, I probably need to start moving away from 90% aggressive funds! Also, the funds that grow more increase at a higher proportion so you shift toward the more growth-oriented over time.

That’s why I found my mistake. I was checking the allocations


Sent from my iPhone using Baby Bargains