My friend asked me an interesting question today: should I stop contributing to my 401K and pay off my car?
That kind of boggled my mind, but she figures that if she's probably going to lose a large portion of the money if she puts it in her 401K, then she might as well pay off her car loan. Hmmmm...not a bad thought. But she'd also give up her company matching contribution to her 401K. I told her that that alone would mean that she's leaving some money on the table. And currently, she's only putting 4% into her 401K, so she isn't at the maximum match that he company will contribute.
She's going to stick with the 401K. I think that's a good choice.
Does anyone have a different opinion?
[2/26/2009
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1 comments
Yes, it's cool, and useful for me
Fidelity 401k
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