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Retirement
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<blockquote data-quote="Brock" data-source="post: 15976" data-attributes="member: 19"><p>Max out your Roth contributions every year. It decreases your taxable income, thus you have already saved the effective tax rate on that money; ie.. 17%-30%. </p><p></p><p>Keep pumping the max amount into the 401k each year if you can afford it to maximize tax advantages. While you could always play catch up later in life, the compounding of interest from investing early is easily the best way to build wealth. The market adverages a solid 8-10% return each year. pepper.gif</p><p></p><p>My company matches up to 8%, I contribute 10% of each chech, so I am basically investing 18% of my paycheck in the 401k each year. <img src="/styles/default/xenforo/smilies2/thumb.gif" class="smilie" loading="lazy" alt="thumb.gif" title="Thumb thumb.gif" data-shortname="thumb.gif" /></p></blockquote><p></p>
[QUOTE="Brock, post: 15976, member: 19"] Max out your Roth contributions every year. It decreases your taxable income, thus you have already saved the effective tax rate on that money; ie.. 17%-30%. Keep pumping the max amount into the 401k each year if you can afford it to maximize tax advantages. While you could always play catch up later in life, the compounding of interest from investing early is easily the best way to build wealth. The market adverages a solid 8-10% return each year. pepper.gif My company matches up to 8%, I contribute 10% of each chech, so I am basically investing 18% of my paycheck in the 401k each year. thumb.gif [/QUOTE]
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