Any advice on saving + investing tips for early professionals? Just started my first consulting job, enjoying it so far and want to make sure I'm taking care of my finance habits + avoiding the lifestyle creep as best as I can

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Max out your 401K match (if they match 50% of contributions up to 6%, 6% should be your contribution at a minimum, don’t miss out on free money). Find a balance between retirement assets (that are penalized for pre retirement withdrawals but enjoy tax benefits in the growth) and taxable (just assets not in a retirement account) assets (savings for a large purchase like a house). If you are saving enough in taxable assets to meet all of your major purchases then look into a Roth IRA (probably the most tax advantageous investment vehicle out there) once that is maxed then if you want to do more retirement increase 401k or just save in your taxable account.

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Use this “Fire Flowchart” and you’ll do fine. Live with roommates and don’t buy a new car to do even better. 401k match>Roth IRA>HSA is typically the rule of thumb.

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Yea I noticed the image didn’t upload correctly. Just google “fire flowchart Reddit” and it should be one of the first things that comes up.

Max out: Employer 401k Match > Roth IRA > 401k > HYSA (~5% guaranteed now). If you plan on buying a home soon park money into the HSYA while still contributing a minimum of 15% into a retirement account

Oops, sorry! Forgot to mention that I’m Canada based. I appreciate all the advice so far

Just add an “eh” to all advice previously given and it’ll make more sense then

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Lol

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