This is good food for thought. Thank you all for taking the time to help me think through this. The 401k rep said my plan charges a .16% service fee quarterly. Maybe this is a normal reasonable fee. It's the only 401k I've ever had so I don't have anything to compare it to. I'm 47. I currently have a little more than $380,000 in this 401k. I'm constantly looking for ways to minimize all expense fees.
I also contribute to a taxable investment account. I'm assuming if I stopped contributing to my 401k altogether and redirected the 14,000 per year to the taxable account, the tax implications would be far more of a loss than the service fees I'm experiencing, correct?
I will start by maxing out my Roth IRA to $7,000 and will think about the other suggestions you've all given. I appreciate your time!
I also contribute to a taxable investment account. I'm assuming if I stopped contributing to my 401k altogether and redirected the 14,000 per year to the taxable account, the tax implications would be far more of a loss than the service fees I'm experiencing, correct?
I will start by maxing out my Roth IRA to $7,000 and will think about the other suggestions you've all given. I appreciate your time!
Statistics: Posted by SpireSprout — Sun Mar 24, 2024 9:45 pm — Replies 7 — Views 422
