{ "media_type": "text", "post_content": "26 and my 401K balance looks like my annual income 🙏🏻 feeling thankful and motivated to continue to play in this consulting game 🤓", "post_id": "5b853b6bb8f0ea0014e8fa0c", "reply_count": 30, "vote_count": 15, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }

26 and my 401K balance looks like my annual income 🙏🏻 feeling thankful and motivated to continue to play in this consulting game 🤓

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Exactly Op, folks don’t get the saving part and always feel they earn less because they never see their expenses shoot up. You got it right

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Good job op. I'm 30 and have some catching up to do. Aiming for Max allowable under IRS law. $18.5k 401k, 5,5k to Roth IRA (backdoor), and mega backdoor starting in January.

likeuplifting
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Cool story bro!

likefunny

$40k?

likefunny

What do we need to do with this information?

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Must be dumping a bunch into it. Deloitte match is trash

likefunny

OP G1 probably makes what our SMS make with much better work life balance. Don’t pick that fight

likefunny

Financial planners say if your 401k does not match your annual salary by age 30 you are not on track for retirement. So op is ahead of the game by 4 years

likehelpful

BCG2 if the posts about comp sucking are true, this may actually work out number-wise

likefunny

I am not convinced these Deloitte posts are true given all the other Deloitte posts about how much their comp sucks

likefunny

Ya C1, but it is free money..

likefunny

@OP: Pretty sad you went straight to hater. If anything I said was inaccurate (aka if Deloitte match is now better), please let me know. I’m here to focus on the figures and facts of 401k match %, not have a contest on how much has been saved. Stick to the truth.

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Nice! I'm 35 and haven't reached that yet, but I'm dumping all of my extra cash into my side real estate gig.

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If I had to guess he’s close to 100

likefunny

OP, you’re the man!!!

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@BCG2: Deloitte match is horrible - it is 25% of every dollar you put in, up to the first 6% (so basically 1.5% match). It also has a 3-4 year vesting period. 🤭 Source: I used to work for Deloitte lol.

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Don’t forget we have a company paid pension that requires zero employee contribution. Hence why our 401(k) match is low..

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Years are calculated based on Jan1 after you join. I’ve been here over 4 years and have about $9K total in pension

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Dumping significantly more than the match I mean

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G1 sounds like a hater. Enjoy staying at your level in industry for years ☕️ and C2 yes 100 thanks!

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