I say use it now. Market is down and you'll prob see a good return when it picks back up. 401k is a long term investment. Plus I think employers give a match, so you're also just turning away free money. It might not be more than $200 per month but over like a year that's $2400 and over 5 years that's $12000. Sooo u might have a smaller paycheck but it adds up overtime.
I have to respectfully disagree with TWH, it seems as if there are dozens of red flags that this economy is going to crash harder than ever before. Not financial advice, but if I was in your shoes, I would do ALOT more research
All I can say is I am watching mine fall regularly. $10K lost in the last 10 days. My returns have gone from 7%-8% to little or nothing. I am three weeks away from being able to withdraw without penalty (to pay off my mortgage), but at this rate, I may still end up with mortgage payments for awhile.
This is what I've been mulling over for some time now myself. I get a 6% match, but I'm 100% vested already. I can assume a major economic catastrophe, take the tax hit, buy some Gold or more Silver/GME/AMC and hope it pays off, or keep buying stocks at a discount.
Yet again, I wish there was some sort of .win for financial discussions, sans advice of course. ;)
I say use it now. Market is down and you'll prob see a good return when it picks back up. 401k is a long term investment. Plus I think employers give a match, so you're also just turning away free money. It might not be more than $200 per month but over like a year that's $2400 and over 5 years that's $12000. Sooo u might have a smaller paycheck but it adds up overtime.
The stock market is still above what it wa precovid. It will crash way way more. Then it’s worth getting in. For now guns ammo food and metal…
But there’s definitely money to be made in the market so don’t ignore it completely
Half silver, half ammo
I have to respectfully disagree with TWH, it seems as if there are dozens of red flags that this economy is going to crash harder than ever before. Not financial advice, but if I was in your shoes, I would do ALOT more research
How much is the employer match?
When do you become 100% vested?
And finally, can you afford to tie up any of your pay?
All I can say is I am watching mine fall regularly. $10K lost in the last 10 days. My returns have gone from 7%-8% to little or nothing. I am three weeks away from being able to withdraw without penalty (to pay off my mortgage), but at this rate, I may still end up with mortgage payments for awhile.
Buy Silver!!!
This is what I've been mulling over for some time now myself. I get a 6% match, but I'm 100% vested already. I can assume a major economic catastrophe, take the tax hit, buy some Gold or more Silver/GME/AMC and hope it pays off, or keep buying stocks at a discount.
Yet again, I wish there was some sort of .win for financial discussions, sans advice of course. ;)
Buy silver now,if you don't get a matching contribution.