⏸️ What Happens If You Press Pause on Retirement...?

Examining if ever makes sense to press pause on retirement contributions to fund a shorter-term financial goal.

In My Humble Opinion

Think about the full financial consequences before you press pause on retirement accounts. 

There are a lot of reasons people press pause on contributing to retirement accounts. For some, it’s panic that the world is ending soon and what’s the point of investing for the future? (We’ll get to this.) For others, it’s that a major life change has occurred and they need to redirect funds towards the new financial need or goal. 

Personally, I never thought I’d one day think, “I’m going to take a knee on investing into my retirement account this year.” But suddenly, here I am wondering if the money I have set aside for my 2022 SEP IRA contribution would be better utilized towards a shorter-term financial goal?