2875: Should You Max Out Your 401(k) Earlier in the Year? by Nick Maggiulli of Of Dollars and Data on Retirement Investing

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2875: Nick Maggiulli explores whether maxing out your 401(k) contributions earlier in the year provides a significant financial advantage. While maxing early can offer a slight benefit due to market growth, the impact is modest unless done consistently over many years. The feasibility of this strategy depends on income level, and the importance of checking for employer matching provisions cannot be overstated. Read along with the original article(s) here: https://ofdollarsanddata.com/max-out-401k-early/ Quotes to ponder: "Maxing out your 401(k) earlier in the year can make a bigger difference if you do it for multiple years in a row." "If you are someone who needs every extra dollar you can get, then maxing early should help." "The benefit of doing so isn’t worth the mental cost." Learn more about your ad choices. Visit megaphone.fm/adchoices

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Optimal Finance Daily, hosted by Diania Merriam, the innovative mind behind the personal finance conference EconoMe, takes you on an enlightening journey through the world of personal finance. Each episode brings to life the most compelling and practical advice from leading financial bloggers and experts. Diania’s engaging narration and insightful commentary transform complex financial concepts into relatable, actionable insights. Whether it’s budgeting, investing, debt management, or money mindfulness, she covers it all, making financial wisdom accessible to everyone. Gain not just knowledge, but also the motivation to apply it in your daily life. It's not just a source of personal finance tips; it’s a daily companion that guides you towards financial independence and savvy money management, all delivered with Diania's trademark enthusiasm and expertise. By focusing on early retirement, financial independence, and saving money, each episode provides you with the tools needed to achieve your financial goals. This podcast is designed for those passionate about personal finance, early retirement, financial independence, and saving money. It’s your go-to source for practical advice on managing your finances, saving money, and working towards early retirement. Each episode offers actionable steps to foster financial independence and secure your financial future. Listen now, and become an OLD friend--your optimal life awaits...