Originally Posted by
BurritoBeach
Thanks a lot for all the advice, I’ll have lots of reading to do on my next layover. Anyone have any recommendations on investments outside of the PRAP? I’m looking at 529s, IRAs and the like. Or is maxing out the 401(k) more advantageous? I currently do 5% and plan to increase as my longevity increases. I did speak with Schwab and they helped with balancing. We also have a plan to speak every July around my longevity date.
Your new short term goal should be to increase your contributions to the annual IRS max as quickly as possible. The more you save while young pays HUGE dividends when compounded tax free. Once you get to that point, then start looking at "post tax" contributions to a non-retirement investment account.
Ditto for 529s. Depending on your state you may, or may not, also receive a tax benefit.