I am 30, married, and make $120k/year pretax, wife is currently a stay at home mom. Currently have $300k in retirement savings (Traditional 401k & Roth IRA). We have been feeling the pinch of inflation with rising costs everywhere and baby expenses and I feel like I need to cut back on retirement contributions to make ends meet. My plan is to still contribute enough to get the full company match (10%) and max my Roth IRA ($6,500), and go back to maxing my 401k after a year or two. Will I still be in good shape? My goal is to have around $4 million by 65.
- Next a question about cash app transactions
- Previous Brokered CDs with 5% interest? Can someone ELI5? – I’m just finding out about these now and not quite sure I am doing the right thing. Any specific advice /be aware of?