A Reddit user considered lowering 401(k) contributions to fund big-ticket items just before retirement age, despite not planning to eliminate them entirely. The article suggests that redirecting funds from retirement savings for immediate needs isn't a wise move, as it jeopardizes potential growth of the nest egg. It encourages consulting a financial advisor before making such decisions, reinforcing the idea that while planning for future needs is important, it shouldn't compromise retirement savings. Alternatives, like utilizing credit lines for immediate expenses, may be better suited for pre-retirement planning.
Basically, cutting back on retirement contributions to plan for needs that have yet to present themselves probably isn't the best course of action.
While this might seem like a practical option, doing so would cost this couple retirement contributions that are designed to grow their nest egg further.
#retirement-planning #financial-advice #401k-contributions #reddit-discussion #pre-retirement-spending
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