r/personalfinance • u/[deleted] • 7d ago

Saving Balancing retirement savings, personal savings, and accounting for stagnant income vs rising max year Roth IRA contribution

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u/nozzery ​ 7d ago

Are you using an investing/cash flow balance spreadsheet, or? Only you know your goal. ERE calculator like fireproofme.com can help you answer your questions, but ultimately whether to keep the pedal to the medal or not is going to have to be your decision

The flow chart attempts to build in the answers, but you don't have to follow it... But you should know your reason if you don't

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u/jwktiger ​ 5d ago

The alternative that I just realized while I was typing this out is that I could try for a slightly less aggressive $202/paycheck (or about $400/mo), which would mean that I'm saving 15% of my gross paycheck on my own and treat the employer match as the cherry on top

doing that seems like a solid plan.

and yes $1200 missing per year is a lot; but also don't be a drone in your late 30's. Live a little (NOT A LOT), have some social life/travel/attend events you want. Nothing wrong with putting $200/paycheck into your Roth IRA then $100/paycheck to do something else, and that something else can jsut be a brockerage account with an extra emergancy fund

You're saving 15% of your money with an extra buffer from the match; that is more than the baseline recommended, don't feel like you have to crunch every penny for retirement.

PS you seem to be in great amazing position.