Stop contributing to 401K retirement
Asking for insights and opinion on whether it would be safe for me to stop making contribution to retirement (401K, etc..). Or will I regret it later...
Current balance (401K, Roth, etc..all retirement accounts): approx $500,000 (US) mostly in S&P 500 index fund
Looking to retire in 2040 (15 years)...
Plan to take social security at 67
Quick calc...based on some assumption
- Initial investment: $500,000
- Length of investment: 15 years
- Rate of return: 5%
- Additional investment: $0
=> $1,039,464.09 after 15 years.
We'd like to divert future 401K retirement contribution to save up for a down payment on a house and 529 college savings plan.