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Anyone in the Bay Area? M here
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At a minimum contributing to 401k at least up to company match
If you have an HSA option thru work, contribute to that before the IRA
What’s the reason for contributing to Roth/traditional IRAs before the company 401k?
Contribute to your 401(k) up to your employer match. Set up a Roth IRA and contribute the annual maximum of $6,000 (I have used a few investment management companies for this, and have found Vanguard to be the best one for many reasons). Set up and max out your HSA.
Right now, I like investing my 401(k) and Roth into target date funds. Some folks dislike target date funds, so do some research to see if they’re right for you. When the market pulls back through the next recession, I’ll be investing all new contributions into a total US stock market ETF (VTI).
I still wouldn't try to time the market though. I can understand wanting to hold back on investing extra cash in taxable investments during the recession period, but you should still be regularly investing a set amount into retirement accounts over a long period (monthly).
https://www.healthinsurance.org/other-coverage/how-a-health-savings-account-hsa-works/
I’m still in shock u have those savings a year or two out of school
Much appreciated! Thought I was on the lower side for savings - will try and build more from here
Thank you all! These are great starting points