{ "media_type": "text", "post_content": "Fellow mid 20's 🐟, how much do you save for 401k? And what % of take home paycheck so you save? I max retirement savings and company perks (I.e stock plan) but save little of take home...this okay?", "post_id": "5956dc460f1d190010ee1c74", "reply_count": 16, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Fellow mid 20's 🐟, how much do you save for 401k? And what % of take home paycheck so you save? I max retirement savings and company perks (I.e stock plan) but save little of take home...this okay?

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Why would you forgo the tax savings of a 401k D1

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20% of pay till I max.. live on my pay and bank 80% of wife's pay..

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Your uncle is am idiot D1. Our fees are absolutely nothing with a ton of options. The financial adviser is thinking managed funds and fat commissions.

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I don't save except 401k bc I am irresponsible and feel invincible :/

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^same. 💁‍♂️

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Match is up to 6% My uncle/financial adviser thinks our vanguard plans aren't great and so far my personal savings and IRA far out perform my 401K. IRA is tax advantaged as well and I have more investment options. My personal account is also easier to pull out for a house down payment or MBA if I desire. That added flexibility is great for me at the moment. And yes I go out plenty haha. But my idea of a good time is not the club. Mostly I frequent breweries and places with good beer and food. I also live in an apartment far cheaper than I can afford and don't make a lot of uneccessary purchases

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@BCG1 is that only post tax?

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I do the opposite. Only 7% in 401K but max Roth IRA, have a 529, and a personal investment account for retirement and hopefully a house soon. All in I save 50%+ of my after tax income because I'm cheap

1. Does Deloitte match up to 7%? 2. Why IRA? 3. What is your lifestyle like? Do you avoid going out?

I do 26k a year

D1 explain. You can't pull money out of IRA. Whereas most 401k allow for hardship or first time home loans.

If you are saving for a house, then yes, putting into a tax advantages account is less advantageous, but tax savings likely run circles around taxable

Yeah D1 I'm not sure why your uncle thinks the vanguard 401k doesn't have good options.... Unless he wants more active funds, in which case I don't think he's a good advisor and hasn't read any research in the last 10+ years

P2, only $5500 per year into Roth IRA, a relatively small amount. D2, results speak for themselves and my personal savings accounts far out perform my 401K, even with the tax advantages

Not possible

Or you suck at investing

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