Here’s something that just dawned on me (duh). When I contribute to my 401K, the yearly salary used to compute future Social Security is based on the adjusted monthly income. For example, if someone makes $50,000 and contributes $10,000 yearly, SS uses the adjusted salary ($40,000) to determine what that person will receive when they retire. I wonder how much difference it would make in SS checks (10 years from now, btw) if I just saved what I now contribute to increase the yearly income on which to base future SS payment. I realize that I am getting tax free $$ now, but in the long run, it may be better to take the tax hit in lieu of the extra monthly income later. Need to look into it.
P.S. - my company stopped their match, so I wouldn’t lose anything.
I think the last 5 yrs before you get SS are what they go by.