very confused about 401k as it affects EFC
Basically as the title states. My wife and I both max out our 401k at 15500 a year so totaling 31000 a year
Am i supposed to put that in the untaxed income??? that seems just completely unfair since we are only 40 years old and this money will have no impact on paying for my son's college.
and then i looked at this article: Reader Questions - How Does Our 401k Affect Our EFC? Should We Use Life Insurance to Save?
the first part seemed to confirm that our 401k doesn't have an affect on our EFC...
can someone clarify this for me? Thanks in advance
Post edited by ynot89125 on