Quote:
Originally Posted by Pushead2
I'm a n00b to this thread, but my spouse just lost her job and I'm taking care of all the bills. Things are snug, but we're not worrying about our lights being shut off.
My question to everyone is should I lower my 401K contribution until she finds something new? Sure in the short term I'll get a little extra in my check, but is it worth it to do so in the long term? Currently, I put in 8% with my company matching up to 5%.
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I'd reduce to 5% because it's foolish not to take the match. Until she finds new work. But a 3% differential probably isn't that much. And with this crazy market it might not be a bad idea anyway. Really depends on how long you think she will be out of work and how snug you really are.
Perhaps invest the 3% into an IRA so you can access if needed.