The Only Time You Should Stop Contributing To Your 401(k)

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From student loans, to medical bills, to simply putting food on the table, so much of managing your finances can feel like it comes down to getting by day-to-day. Retirement, meanwhile, feels like a distant dream. How can you even think about maxing out your 401(k) or Roth IRA when you can barely afford rent?

However, the best thing you can do for your retirement funds is always to start saving now. Even if you think there’s no need to start worrying about it yet, any savings at all—even if you don’t add to your nest egg for years—can go a long way. So how do you navigate saving for retirement when it feels like your lowest priority?

Here’s what you need to know about when it may temporarily make sense to pause contributions to your retirement funds, and how you can still stay on track for retirement.…Story continues…

By: Meredith Dietz

Source: The Only Time It’s OK to Pause Your Retirement Contributions | Lifehacker

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Read more:

Reader Letters: Portfolio Hedges, Your 401k…and More Investing Daily 15:47 Mon, 27 May 

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New Survey from ShareBuilder 401k Shows Small Business Owners Feel the Upcoming Presidential Election and Inflation Will Significantly Impact Their BusinessBusiness Wire (Press Release) 18:47 Thu, 16 May 

Deciphering 401k and Indexed Universal Life Insurance Entrepreneur Magazine 02:12 Wed, 15 May 

Perils of the 401K to IRA Rollover; Spouses Beware JD Supra 19:28 Tue, 14 May 

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ShareBuilder 401k Offers Free Setup for Small Businesses with Employees from May 1 to May 22 Business Wire (Press Release) 15:33 Wed, 01 May 

Here’s The Best Time To Convert Your 401k To A Roth IRA Forbes 20:37 Mon, 29 Apr 

It’s True: These 13 States Don’t Tax Retirement Income The Motley Fool 16:54 

Thousands of pensioners to be slapped by ‘retirement tax’ under Labour, Tories warn GB News 16:54 

Earlier Today

New plans for State Pension ‘Triple Lock Plus’ to stop older people paying retirement tax Daily Record 11:07 

Yesterday

Senate Takes Up Plan Startup Retirement Tax Credit Legislation Plansponsor.com 00:00 

Finance Bill 2024 amendments on tax will increase retirement savings The Standard 08:26 Tue, 28 May 

Rishi Sunak pledges ‘Triple Lock Plus’ to cut tax for pensioners and bring people ‘peace of mind and security in retirement‘ with £100 extra a yearMailOnline 02:33 Tue, 28 May 

Saturday

National Pension System: 7 strategic insights for tax-efficient retirement saving Mint 09:27 Sat, 25 May 

Thursday

This retirement account can be ‘triple-tax efficient’ for teens this summer, advisor says CNBC 22:14 Thu, 23 May 

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Georgia Justices Question Retirement Home Use, Tax Exempt Status Bloomberg Law 01:26 Fri, 17 May 

Tax-Deferred Retirement-Saver Portfolios for Mutual Fund Investors MorningStar.com 00:49 Fri, 17 May 

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Tax-Deferred Retirement-Saver Portfolios for ETF Investors MorningStar.com 23:30 Wed, 15 May 

Tax-Deferred Retirement-Saver Portfolios for T. Rowe Price Investors MorningStar.com 19:56 Wed, 15 May 

Tax-Deferred Retirement-Bucket Portfolios for T. Rowe Price Investors MorningStar.com 23:13 Tue, 14 May 

Camila Giorgi announces retirement from tennis amid Italian tax probe UPI 21:01 Mon, 13 May 

Retirement flee for Camila Giorgi as Italian reportedly on the run from tax authorities back home TennisUpToDate 18:33 Sat, 11 May 

Tax-Deferred Retirement-Bucket Portfolios for ETF Investors MorningStar.com 22:44 Fri, 10 May 

Finance guru reveals the account you should be ‘putting every single cent into’ for major tax benefits and a supercharged retirement fund MailOnline 07:21 Wed, 08 May 

Secure your future: Direct your tax rebate into a retirement annuity IOL 15:03 Tue, 07 May 

Turning Retirement Accounts for the Middle Class Into a $5 Billion Tax-Free Piggy Bank Angry Bear (Weblog) 14:34 Sun, 05 May

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