- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Starting a retirement fund in your mid 30’s?
Posted on 8/7/20 at 8:32 am to GAFF
Posted on 8/7/20 at 8:32 am to GAFF
quote:
The person also has a company pension but not sure if he should count on that. He works for a Fortune 500 so maybe it’s safe. He does add 1% percent to his 401k each raise he gets and his company routinely gives yearly raises.
His wife and him are considering pulling out 30k and 40k respectfully from their 401k’s to pay off every single debt but their house. This will leave both with less than 10k in each account. He’s 33 she’s 29. He’s confident that they both can make up the loss before they retire. Says it’ll drop their monthly debt by $1500+.
The pension helps a ton. As for the rest....ugh. Easy to see how the situation developed. Kudos to them for wanting to eliminate debt but paying penalties and extra taxes now might be a long term issue.
This post was edited on 8/7/20 at 8:33 am
0
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News