Mint is projecting my first $1 million in 19 years...accurate?

[Vpxggmr17]

401k allows you to lower your taxable income. So i'd take advantage of that first then focus on outside that investing. The tax savings can be a lot. For us it's around 30% tax savings on those dollars first. Who cares about the choices I pick the basic index and leave it alone. I'd have to save 30% more outside to make up the difference of investing the tax free dollars. Can you beat that? Most people can't save an extra 30 cents on every dollar that they would have saved in a 401k.

Now if you are saving for a home or something else fine, but I feel it's leaving excess money not maxing out the 401k first.

My 401k is a Roth, so the contributions there are not tax free dollars. I'd rather take the tax free growth over tax free ivestment.

[LivingAlmostLarge]

So why not max out the 401k @ 17.5k/year if your income is still at the lowest it'll likely be? You're putting in dollars that have been taxed the least now and it'll grow tax free.

Most 401k are not Roth 401k so forgive the error. But since it is, I'd still max out the 401k Roth and Roth IRA then move to a brokerage account unless you need it for some purpose. And to get the $17.5k max it means $1400/month after tax dollars then $5500 roth IRA so $23k/year or about $2k/month why not?

[Vpxggmr17]

So why not max out the 401k @ 17.5k/year if your income is still at the lowest it'll likely be? You're putting in dollars that have been taxed the least now and it'll grow tax free.

Most 401k are not Roth 401k so forgive the error. But since it is, I'd still max out the 401k Roth and Roth IRA then move to a brokerage account unless you need it for some purpose. And to get the $17.5k max it means $1400/month after tax dollars then $5500 roth IRA so $23k/year or about $2k/month why not?

I actually really like that idea and in fact I think that $1400 is very attainable. That said, if someone could explain to me the rules on the two Roth accounts. I want to be able to purchase a home in the next 5-7 years, so having access to the 20% needed for the down payment is key. If it's tied up in the Roth's, I was under the impression it isn't available penalty free.

Secondly, the reason I had interest in the brokerage account as well is merely that I want some of my money to go into what I deem my extreme risk account. I want to be able to play the individual market with funds that I've deemed separate from retirement. How do you all usually set apart what you utilize for retirement versus say stock purchases for profit, etc.

[feh]

I want to be able to play the individual market with funds that I've deemed separate from retirement. How do you all usually set apart what you utilize for retirement versus say stock purchases for profit, etc.

I don't "play the market". All investments are for retirement (we own our house; we don't have any large, planned expenses in our foreseeable future). We invest according to the boglehead mantra (diversified, low cost, no market timing, sensible asset allocation).

[Petunia 100]

I actually really like that idea and in fact I think that $1400 is very attainable. That said, if someone could explain to me the rules on the two Roth accounts. I want to be able to purchase a home in the next 5-7 years, so having access to the 20% needed for the down payment is key. If it's tied up in the Roth's, I was under the impression it isn't available penalty free.

Roth contributions are available to you at any time for any reason, no penalty or tax. The earnings are a different story.

Keep in mind, you cannot replace them.

[ZZZ]

I used Mint's invest tab for a few months. It became too easy to log on and see the ups and downs of my accounts. I ended up deleting the accounts to remove the temptation to follow the market.

Look into the Boglehead mantra as feh said. The back and forth swing of the market is unimportant and distracting. Think long term success.