I will be the contrarian here and say to the OP, you have done exactly what you should have done.
An apocryphal story: two investors, Adam and Bob. Adam invests $10k per year for ten years, and never contributes a dime thereafter. Bob doesn’t contribute a dime for the first 10 years, but contributes $10k per year for the rest of his life. Who do you think has more money after the next 20 years, 30 years, 40 years (doesn’t matter)?
It is always Adam, UNLESS the growth rate is negative over that period of 20 years / 30 years /40 years. Under any assumption of a CAGR (compounded Annual Growth Rate) that is positive, Adam always wins.
Over the course of your career, which presumably is at least 30 years, invest in Roth for the first 10 years (be Adam) and Traditional for the rest of your career (be Bob). At your retirement, having more money in Roth than traditional is a happy place to be in.
Which, intentionally or not, is exactly the place you are in right now. For Ten years you made Roth 401(k) contributions, now is the right time to switch to Traditional 401(k) contributions; even though that choice has been taken away from you (workplace allowing only Traditional 401(k) contributions), don’t be discouraged or glum, it is the right choice.
Don’t let others beat you up or second guess choices you had already made in the years past.
An apocryphal story: two investors, Adam and Bob. Adam invests $10k per year for ten years, and never contributes a dime thereafter. Bob doesn’t contribute a dime for the first 10 years, but contributes $10k per year for the rest of his life. Who do you think has more money after the next 20 years, 30 years, 40 years (doesn’t matter)?
It is always Adam, UNLESS the growth rate is negative over that period of 20 years / 30 years /40 years. Under any assumption of a CAGR (compounded Annual Growth Rate) that is positive, Adam always wins.
Over the course of your career, which presumably is at least 30 years, invest in Roth for the first 10 years (be Adam) and Traditional for the rest of your career (be Bob). At your retirement, having more money in Roth than traditional is a happy place to be in.
Which, intentionally or not, is exactly the place you are in right now. For Ten years you made Roth 401(k) contributions, now is the right time to switch to Traditional 401(k) contributions; even though that choice has been taken away from you (workplace allowing only Traditional 401(k) contributions), don’t be discouraged or glum, it is the right choice.
Don’t let others beat you up or second guess choices you had already made in the years past.
Statistics: Posted by lakpr — Mon May 27, 2024 9:10 pm