Hey Folks! I spent the last year and used my bonus to pay off all my credit cards and started an emergency fund. I’m currently about half way to having 6 months of net pay saved. Right now I have the fund evenly split between a “high-yield” (.5%) MM account and a TD brokerage account invested in a in a index fund. My question is would it make more sense to put that brokerage money into a Roth IRA since I could take that principal out in a emergency. Also already maxing out my 401k. Thanks!

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Hi friends, I’ve been trying to figure out how to best help my parents in their mid 50s to help save for retirement. They’re immigrants, didn’t understand the value of 401k until recently and couldn’t afford early on (they have 401k now but not a whole lot). They have about 50K extra put aside, I’m trying to figure out if they should add to their mortgage or invest (they are pretty scared of investing) I was thinking some for house payment to bring down principal and rest in Roth, thoughts?

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If you live with parents, would you max our Roth 401k ($19.5k) and after-tax retirement account ($15k) instead of investing through an individual brokerage? The after-tax $15k can be rolled into the Roth 401k right? Thinking of doing this since I can pull principal out of my Roth 401k after 5 years. Am I missing something here? Any better options?

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Between two offers, "Associate Principal" for m&a consulting in the Healthcare industry vs a Director at a F300 company doing M&A and Partnerships. Consulting pays about 50k more. What does the future look like in consulting? I am a bit nervous jumping from from "industry side" to the "consulting side".

Slalom moms, could you share any details on Slalom’s paid parental leave / maternity leave policy? How is your work-life balance? Would love to especially hear from people at the Principal level.

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Hello. Who has Principal as their 401k administrator? What funds did you all pick?

Not into target date funds and want to be aggressive even in my 40s. TIA!

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About to get a principal at BCG that I know personally refer me to several roles. I’ve been in healthcare consulting for 7 years between Optum and Deloitte and would like to either do either healthcare strategy or continue my data analytics career. Any advice on which offices I should be targeting given the hiring craze and my interests?

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I recently changed jobs and my new 401K provider - Principal has very limited MF investment options. My prior employer’s 401K was managed by Fidelity and provided me access to a range of MF options. I believe that the fund options are negotiated by the employer and provider? Two questions. First - I have not rolled over my previous 401K to the new one. Would there be any problems. Second - is there a way I could move my current 401K to another (precious) provider?

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Hi. Looking for specific salary data points (base + bonus % range + any other relevant benefits) for the Dubai office pls - EM/PL and Principal levels @ (1) MBB (2) Strategy& (3) OW (4) Kearney (5) ACN Strategy (6) Booz Allen. Have looked at Glassdoor data already but looking for latest & credible info, ideally from those working in these firms pls. This is for final offer negotiation purposes. Thank you 🙏

likehelpful

ROTH 401k, can someone clarify all the benefits.
You are allowed to pull out principal beige 591/2 tax free correct?

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Got an industry offer - Director level, 100% remote - $230k & 15% bonus. SM1 $177k. Thinking that isn’t enough to jump but close friends think I’m letting the carrot of Principal, and the pension that goes with it, cloud my judgement. Thoughts?

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Hi Recruiters, could you share thoughts on ballpark or range of base/bonus comp for Principal-level benefits consultant at AON/Lockton/Mercer/WTW? 8 years in industry, mid-market clients, based out of DC metro region.

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Feeling frustrated. Our reentry was delayed again, so I’m trying to get confirmation to continue teaching from home since we have a little baby. Well, admin says we have to get approval from HR, and HR says it’s really up to the principal whom they can’t get a hold of. If I have to go in then I’m taking sick days until my maternity leave kicks in next Thursday.  It seems simple enough to me that they would want me to keep teaching my own kids. HR seems to be on my side.

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Just turned 50 and allocated about 10% in my 401k to a long term bond fund which is already down 3% this year . I am not a fan of bonds especially with the current rate environment. Any suggestions instead of bonds to protect principal . Money market ? Target date fund ?

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My husband and I (both 27) max out our Roth IRAs each year, have a complete emergency fund, and I’m able to start maxing my 401K this year (he contributes 10% to his 401K - it isn’t possible for him to max his based on his current pay). We contribute 18% extra towards principal on our mortgage each month. We now have about $20k of additional savings we want to figure out what to do with. What would you recommend to someone who is new to stocks/investments?

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Question about what to do with a bolus of money ~$50k. Mortgage principal payment (current <20% equity, 3.75% rate) or mix of Vanguard mutual funds? Retirement is maxed for the year (both 401k pre-tax and post-tax contributions).

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Are there any special retirement benefits for a MD vs principal?

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I have no debt, just refinanced my primary residence (~$500k mortgage, $3000/ month) for which I pay extra principal ($600) every month (to turn 30 years mortgage into 20), maxing out IRA and 401k, have a monthly automatic investment in mutual funds ($800/month) with ~20% growth/y so far, 6m+ in high yield saving account, and save ~$1,500 each month on high yield saving.
What’s my next move for investing?

likefunny

Deloitte consulting partner vs Accenture principal. Is comp and pension comparable? SAP implementation.

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I spent the last 3 months "growing up" & now I'm ready to go. 1st thing is for me to get my own place. I'd like to buy instead of rent because I don't want to pay someone else's mortgage.

I'm thinking of selling my car & cash out some of my 401k to buy a house. My thought is to put down 3.5% for a FHA loan then make a big payment towards the principal to reduce long-term interest.

Anything wrong with this thinking or anything else I should consider?

Anyone here work for Amazon? I am trying to learn what they are doing in the healthcare space. Is it all part of Haven Healthcare?

It's kind of bizarre that I never hear anything about Haven in the industry?

There is a position open: Principal, Program Management - Healthcare Strategy, that sounds interesting. TIA!

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Is it a bad idea to cut back my 401k contribution to reallocate a portion to principal payments of my student loan debt? I currently have pre-tax contribution of 10% and thought I could change it to 5%. Thoughts?

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Fellow Partners/Principals, how does Partner deferred comp/pension work at PWC and EY. I have direct admit offers (verbally confirmed today) from both. I am also in the process of switching to Principal track Deloitte in the upcoming FY and Deloitte’s pension is based on avg of your best 3 yr. I am hearing that may not be the case at PWC. I would like to account for that in negotiating fair signing bonus and/or annual income offer. I am leaning towards PWC. Thanks in advance!

likehelpful

Hey! — one of our portfolio companies in the healthcare space is looking for someone to build out its customer success function. Looking for senior manager/principal, healthcare exp required, dm me!

likesmarthelpful

Hey! — one of our portfolio companies in the healthcare space is looking for someone to build out its customer success function. Looking for senior manager/principal, healthcare exp required, dm me!

likeuplifting

My husband and I were a bit screwed over by our mortgage lender and did not get to do a down payment (long story), but immediately applied $10k towards principle for a $460k 30 yr VA loan (no PMI). We refinanced recently after 1 year in the house to save an additional $400 a month that we’re putting back into the principal monthly. We max out our Roth IRAs each year and are working towards 15% 401k contributions. We have some additional savings though that I feel we should be doing (cont).

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I’ve seen a couple posts lately with comments saying that people should not use a Roth 401k. Does the logic below capture the spirit of that concept?
1. Use trad. 401k to reduce taxable income now. Convert to trad. IRA once retired, then convert gradually to Roth IRA (ladder, SEPP, etc.) at lowest marginal tax rate
2. Use Roth IRA (and/or backdoor Roth) to take advantage of tax free growth and ability to withdraw principal early without penalty

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I have a question on 401k loans. How is the principal repayment reinvested? Monthly? When the loan is fully paid? Do they cash out that portion of my investments or just use then as collateral?

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Currently have 35k in 401k and 22k in Roth with Vanguard through previous employer. New employer uses principal. Should I transfer my Vanguard funds to principal? Thinking of taking loan out cont.

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Evaluating joining BCG at the principal level. Any pointers on interviews pls? Also keep reading about BCG perks and benefits on this forum - can someone please share the top 5 maybe?

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Related Posts

How is your pension made up? At PwC, it’s the average of X-years but you have to be a partner for 10 years for it to vest and the only real way you’ll get a meaningful amount is if you stay 20 years

I've been working for 5 years and have never maxed out my 401k. Need to make a change. Bummed I didn't realize this sooner.

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What benefits does a client employee who supports the case for a specific firm get? How does the friend of firm thing work ?

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Does Deloitte offer any tuition reimbursement?

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Do I need to put in the Deloitte 401K into my tracking and trading profile? If so, where can I find my account number?

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Potential recruit: Do you like your job? It doesn’t sound like you do.
Me: *Fuck, this is exactly why I told them not to put me on this shit*
Me: Yes. Benefits are great and the work is rewarding :)

likefunnysmart

I make $4000/M after taxes and max 401K and spend about $2400 for all fixed costs (rent, utilities, etc). With roughly $1600 left, and with a strong goal of saving as much as I can, what are some recommendations on how I should allocate my money better. I know this is vague but need some better financial planning.

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Any rec for short term / temporary health insurance plan? I’ll need to cover about 2-week period before starting a new job. Cobra with current firm is not feasible. Thanks!

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Was laid off and just found out that cobra is going to cost $500/mo for just me. No wonder people just don’t pay for health insurance in America.

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Anyone have a good therapist they’d recommend under united healthcare in the nyc area?

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Anyone here from the Kaufman Hall healthcare practice? What is travel really like? Is it your typical mon-thurs?

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The math is wonky, but Wifey and I spent $1M this year (including the 620k in loans initiated) - 700k house, 60k taxes, 70k boat, 40k car, 60k to finish attic, 50k stocks, 36k 401k...#opp.ofhumblebrag

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New to healthcare consulting. I’m trying to learn more about the different domains of work. When individuals say they work for or support payers, what types of projects could this entail?

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How much is health insurance if you don’t have a company based healthcare plan? I am a 26-year-old male who is healthy by healthcare standards, and then a 28-year-old female who is the immuno compromised. How much would it be for each of us if we didn’t have company healthcare? Trying to understand some of the benefits of staying with the company

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Anyone willing to share their experience working with Finit Solutions? Work life balance, benefits, pay, nature of projects, company potential..

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Should I leave and work for my client if they barely increase my pay? What are the risks? What are the potential benefits?

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Can you share details about your firms tuition reimbursement program? I’m considering exit opportunities for a company that will fully support an MBA.

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Any fish in this bowl that work/ed for Deloitte’s Risk Advisory practice? Healthcare Operational Risk in particular even?

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Anyone familiar with Care Services? It’s a pharmacy benefits management company.

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What firm is this? Got in email from Charles ares. “We’ve recently been told that another firm has extended the number of years a consultant must stay to receive full MBA tuition reimbursement, from two years to three.”

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Additional Posts

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I am concerned with fulfilling billable hours requirement. I’m required to hit 2100 hours yearly and I’m at ~1,500 hours and I think I’ll hit 150-180hours this month. What will happen if I don’t hit my targeted amount by the end of my year.

likehelpful

Hello Experienced Fishes,

I'm a 2.5yoe IT guy.

Been hearing from a lot of my seniors is that the working life in IT is only till 10-15 years...

And one of the reason they give is that after 10yoe, one is given a managerial role...and as a result he/she becomes redundant and following the pyramid structure they are laid off!

So is going for an MBA the only solution?
How one can extend his IT life given the fact there are EMIs that would continue till retirement?

Please help😅

Thank you 🙏🏾

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Hows the job security in IqVIa technology division (quintiles).

Any layoffs or PIP's? What are the different ratings? Good place to join?

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Have a PERM briefing call with PwC law. What questions should I ask? Any recommendations?

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Hi Fishes,
Does JP Morgan match the offer to retain employees, and if yes do they do it immediately before the NP ends or do they revise it in next appraisal cycle.

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Hello again everybody! I was wondering if someone could refer me to Bain or BCG? Was hoping to work at the NY office. Many thanks!

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Do any firms give billable credit for business development? My practice group is particularly BD heavy and I’m trying to convince them to give us billable hours credit

120k TC in Twin Cities vs 160k in Boston?

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likeupliftingsmart

Hi guys got an offer from wipro for the role of automation testing level B2.with 13 as fixed and 1 as variable. Current package 7.6. is it worth moving to wipro in the job level B2.currently working in IBS product based company. Will there be good learning opportunity and if possible onsite opportunity for laterals?. Exp 3 yrs 10 months

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Does anyone have any experience applying to being an Engineering Manager at Microsoft? I've applied to a few postings but I've waited nearly a month with no response. Looking for advice on best ways to increase visibility or usually how long it would take to get a response.

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I have 9 years of experience in Frontend. I got an offer from Capegemini and they are offering me Manager (C2) position but i am confused like with Manager position it will be technical work or mix. Can anybody please guide what is the role of Manager in technical projects in Capegemini.

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I just saw an internship posting at Spotify that requires 3+ years of experience…. and also requires you to be a current graduate student. Uhmmm what? 🥴

likefunnyhelpful

So for 2020 the volume of work in PA (at least for me) has been the highest I’ve seen. A never ending busy season. Do you feel 2020 set the norm for future years? Will 2021 and onward be the same?

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Hi All, I’m currently working for a Servicenow partner as an SE. I want to work for SNOW directly as a SE. Do you think it would be possible to land a position there coming from a partner?

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Looking for referral for 14+ years of IT experienced in Java J2EE, Appdynamics, Splunk Solarwinds, Project management, tracking, staffing, scheduling, quality etc in a company that will provide WFH option even after pandemic.

Anyone hiring for summer internships in summer 2021? I know PwC has wrapped up their intern recruiting for the year. I know a student who has their OSCP, heavy system administration and development experience, and regularly competes in defense competitions, and his current offer got rescinded due to covid. He's interested in consulting and has great soft skills

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