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by andrewmcwatters
297 days ago
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The conventional wisdom of investing the maximum into your 401(k) beyond employer contributions is a dangerous tip if you fully intend to retire early, because you are penalized so heavily on withdrawing too young and then further taxed on it. It’s such bad advice and people parrot it all the time, probably because so many people are so bad with finances to begin with. It’s almost always a bad idea in this specific case. If you intend to retire in your late 60s, then the conventional wisdom is fine. |
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