Most certainly put in the max you can. You're immediately getting a 50% return on your money and if the market gains it's usual 11% per year over time you're gaining 66.5% return. Dude, that's a no-brainer.

 

When I first started out in the corporate world I neglected to join the 401k program (ours was 3% match) for 7 years. One day I went into the office and said "this is stupid." I called the administrator and told her to start deducting 6% of my salary. One day years later, I sat down with pen and paper and calculated what those 7 years of contributions would have been worth carried forward 30 years...................$1.7 million!!!!

 

I just turned 59.5 and can now draw off those funds without penalty. We are having our kitchen, dining room, family room and bar area remodeled and the total cost didn't put a dent in the 401k total. It's wonderful.

 

If you're worried about access to your money for life changing events there are exceptions to the penalty rule. You will have access for major events.

 

You will be retiring some day, contributing to a matching 401k plan is the best way to insure you retire with a lot of cash. And don't worry about taxes, I pay less today than I paid 30 years ago.

 

Regards........................the Chiefjag

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