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I'm concidering decreasing my 401K contribution in order to increase my savings account balance. This account is used for emergencies only (e.g. layoff, medical, etc.).

I'm contributed the maximum ammount (16%) of my monthly salary and my employer matches with 4%. I'm investing in a ML S&P500 index fund (Ticker mdsr.x).

Presently, I only have ~1 month of my monthly salary saved. With today's economy, I'd feel more comfortable with 6 months on hand. Is is Foolish to decrease my monthly 401K contribution in order to accomplish this?
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