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Bain & Company Boston Consulting Group is too slow. For anything you wanna do inside the organization, 12 months of tenure is required. Even for promotions its the same no matter hoew exceptionally you perform.
Whereas Bain & Company has no such minimum tenure requirement. My colleague got promoted in 4th months of joining right out of college.
Give me 1 reason why I should accept the offer from BCG?
Need 11 likes for doing chats, please help
These are my favorite clients by far.
Hey Fishes, Need 11 likes. Please help!
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Did the same as you except I think you’re referring to traditional 401k. It’s a good idea as long as you don’t need the cash anytime soon, so no need for “safe” investments like bonds. S&P 500 is plenty diversified and grows at fast rate. Individual sectors are hit or miss, and unless you’re a Wall Street trader, you will certainly lose money in the long term if you try to get cute with it. Just stick to S&P 500 or total market funds.
Sorry, I meant traditional 401k (pre tax) I really know nothing about this. I plan on reading up on personal investment... that way I don’t sound like an idiot when I ask for advice haha
It's great you are able to max it at such a young age. Just be mindful of expenses you may need in the next 5+ years as your non retitement savings will be a bit lower. For example, house down payment, car, wedding, kids, etc.
Short-term investment grade bond funds or even tax-exempt intermediate municipal bonds might be a good place to store cash for a short-term if you don't need cash equivalency.
Hi OP. Great job on maxing out your 401(k) at such a young age. You’ll be thanking yourself when you retire. Investing in a Vanguard S&P 500 fund like VOO is what I recommend. It has great overall averaged annual returns and a low expense ratio. After you get paid, I would look into also putting away $6,00 (single) a year to a Roth IRA account. Money invested within Roth IRA accounts grow and are withdrawn tax free when you retire. You can open a Roth IRA account at any brokerage, including the one you have your 401(k) with. You still have until 4/15/2020 to contribute to for 2019. If you have extra money, you could add $12,000 total in 2020 ($6,000 for 2019 and $6,000 for 2020). If you plan to invest in real estate investment trusts (REITS), I would do that in a Roth IRA. This could be VNQ. Dividends from REITS are taxed at ordinary income rates, so you avoid that within a Roth IRA. Best of luck to you!
I haven’t heard of that. Thank you for bringing it to my attention and I’ll look into it.
What? 401k or IRA?
I chose 401k pre tax. Sorry. New to this and not knowledgeable of proper terms
Yeah, keep doing what you are doing provided you won't need this money in the short term. And don't watch CNBC.
Also don't let some young advisor from Edward Jones or something trick you into thinking they'll do much better for the low fee of 1.35%. Worse than following CNBC, you won't even learn from any mistakes you might make.
I think maxing your 401k is a great idea as you learn more. You're young and can afford to make some mistakes outside of your 401k in small amounts as you earn more. Once you have a timeline on your future house and have financial goals in mind, you'll be better equipped to make independent decisions.
For best investment advice worth checking bogleheads.com. Disclaimer, it’s a very Vanguard friendly forum (not necessarily a bad thing)
Thank you for the advice. Love the disclaimer haha
With a relatively low tax rate have you considered doing a portion of your 401k as ROTH? If that isn't offered, maybe contribute a little bit less there and max out a ROTH IRA with some post tax money.
Will do! Thanks! My income 83k a year. So I assume I’m under
I would put it in a mix of bonds and cash and wait for the market to correct this year then move to Vanguard 500 ETF....price of fuel uptick will be your marker
Good points - investing at the end of the day is just gambling (albeit a bit safer than roulette 😀). I’m 30, so I’m 100% invested in stocks besides my emergency fund.
On a lighter note, I don’t know if you have any ties to Vegas, but I could use some cosmopolitan free stays.