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Thread: Newbie mistake

  1. Default Newbie mistake

    For months I have been wondering why my paychecks have been smaller than they should be. Admittedly I had been taking quite a bit if leave so I just shrugged it off. Earlier this week I had received an email from NFC informing me that I'm set to hit the maximum contribution of $19000 before the year is up. Well it turns out that I've been contributing $750 to traditional and $750 to Roth every pay period simultaneously. So I've been making double the max contribution for the past seven pay periods.

    I currently have about $250k in traditional 80%C and 20%S and $5.5k in Roth same allocations. My questions are:

    Seeing as how there are ten more pay periods and I need to tune down my contributions to $166 every pay period should I contribute it to my traditional or Roth?

    Should I keep investing in both accounts (traditional and Roth) or just stick to one? I have about 13 more working years before I'm eligible to retire or 20 years before I'm mandatory.

    Lastly any tips on my allocations?

    Thanks for the help

    Sent from my SM-G965U using Tapatalk


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  3. #2

    Join Date
    Apr 2008
    Location
    Cleveland, Ohio
    Posts
    9,762

    Default Re: Newbie mistake

    No one here will tell you what to do.
    I would think if you can afford financially to max out both your traditional and your Roth that is a good thing once you hit retirement. Allocations is a personal comfort zone. Whatever you are comfortable with and what you think will better your investment.
    This is a great place to learn and there are some very smart people that contribute to this forum. Good luck. You seem to be doing pretty good so far.
    May the force be with us.

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