Hi All - looking for some advice on whether or not it is worth it to invest in 401k for the short amount of time I will be eligible
Life Situation: 30 years old / Married Filing Jointly / Living in a low cost city in the Midwest
Gross Salary/Wages:
Myself: $50k base and $20k commission (from W2 job), expected $100k from side hustle = $175k total
Wife: $75k
Current 2018 deduction plan:
Myself: Max out HSA, looking for advice on 401k
Wife: 401k maxed
Scenario:
My wife and I moved to a new city approximately 2 years ago with the plan to stay for 5 years for a variety of reasons. It just so happens her 401k vesting hits 100% after 5 years so it made sense to max that out. I started a new job a bit later after moving and am now coming up on 1 year of service which makes me eligible for the company 401k plan. With the goal of FIREing in 3 years does it make sense to max out (or even contribute to) my own 401k?
Obviously I would save a good bit on taxes, but I don't expect my side hustle to continue into FIRE so I would like to keep as much money invested in taxable accounts in case I need access.
My company matches 100% of the first 3% (of my base salary) or about $1,500. If I do indeed quit in 3 years I will only have vested 60% so although the match would be free money, I would be forfeiting almost half of their contributions.
Welcome to any thoughts or ideas that can help me make a decision!