Hi all,
I'm changing jobs in October (9th) and I have 3 more pay checks with my current company. I currently have a little over $11k contributed in my 401k for this current year. The company (Whole Foods) doesn't match anything, however, they have Vanguard investments (with low fees), which I've kept it in and I've been able to get over 10% for the current year.
I also have enough PTO that will cash out, which will account for 140 hrs of pay on top of it. My question is, should I just max this 401k out as much as I can to get the most money? I won't have enough to max it to $18,000, but I might be able to get close to $16,000.
My next job won't have a 401k, but I will possibly have a SIMPLE IRA which will be available to me around May of next year. The emplyer would be starting this up new at his company but hasn't guaranteed it as of yet for 2018.
My other question is, because of the good investments, should I just leave it in the 401k with the company or roll it into my FIDELITY Roth account??
Then there is the Whole Foods 401k plan, which is still "technically not" being affected as of now, with the Amazon merger (unlike my stock shares and stock options which were cashed out). There's a possibility down the road that all current holders will have to roll it into another investment vehicle if the Whole Foods 401k is removed, which I would think it would be, but there hasn't been any word on it.
I'm 38, and I have $34k left in my student loans, no other debt. The rate is 2.75%, but it just bothers me so much that I have this debt. I almost wanted to start paying it off.... but I know I shouldn't and just keep investing. With the minimum payments, I think it has me projected to pay it off in 16 years (age 54). I could pay it off in 1 year, if I work really hard at it. My financial situation will be very good that I can afford to do so.
Option 1:
Max out 401k and then Roth in November
Option 2:
Max Roth and start paying down student loans
I'm also open to any other ideas, but those 2 are the ones I currently am facing myself with. Any advice is appreciated :)
Phil