I’m 32 years old working for an airline that contributes 17% of my salary into a 401k regardless of whether or not I contribute at all (not a match).
I contribute 11% of my salary into my 401k in addition to the 17% my company contributes. Right now I make about $200,000 a year which will steadily climb to $500,000 a year in the next 5 or so years. So that comes to about $56,000 a year into my 401k this year and it’ll climb until it’s maxed out and at the point the excess will in automatically invested into a market based cash balance plan. I got a bit of a late start to my restaurant. So I have about $70,000 in my 401k right now and $3,000 in an old Roth IRA that I only recently started to contribute to.
My question is; if I have an extra $500 or so a month to invest is it reasonable to just purchase about 1 share or VOO each month in my Roth IRA which would be close to maxing it out by the end of each year.