3 Great Reasons to Forego 401(k) Contributions This Year

You've probably been told you should contribute to a 401(k) every year if you have one and can afford to do so. That's normally good advice, but there are a few exceptions to the rule. If any of the three things below apply to you, you might be better off avoiding your 401(k) this year.

High-interest credit card or payday loan debt can easily cost you more in a year than you'll earn by investing your money in a 401(k). So if you have this type of debt, it's usually a good idea to prioritize its repayment over retirement savings.

Image source: Getty Images.

Continue reading


Source Fool.com