Smart Retirement Moves: When to Cut 401k Contributions

In This Video:

Today we’re going to walk you through some examples and share stories of times when you might want to consider reducing your 401k contributions to help you avoid unnecessary taxes or help eliminate interest on debt as you approach retirement.

 

Things to Consider:

The different hypotheticals we’re going to discuss are pretty common for today’s retiree and we’ll explain why cutting 401k contributions could be the better long-term strategy. This only applies to specific situations so have a conversation with your advisor before you stop making any contributions to your retirement accounts.

 

Here’s some of what we discuss in this episode:

0:00 – Intro

0:43 – Avoid taking on extra debt and paying interest

1:38 – 1st hypothetical case

5:32 – 2nd scenario

 

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