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Please Help your inputs helps me
Hi All
I am a fresher and joined infosys Nov 2021 in campus placement.
Now has 11 months of experience. I am planning for MS in Jan intake
If I resign now notice period is 1 month, but if I complete 1 year notice period is 3 months?
My visa is not yet approved, I am confused now whether to resign or stay?
Is there any buy back notice if it is there what is the process?
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You can accomplish step 1 of setting up a 401k today...
Rising Star
OP, there are online retirement calculators you can play around with. Biggest factors depend on how old you are, when you plan to retire, and the lifestyle you want to live once you're retired.
If you want to retire on $100k at 67, you're probably going to have to save a lot more than the 401k max to catch up, to be brutally honest.
But absolutely start by maxing out your 401k and IRA, imo. Unless you plan to retire somewhat frugally, I'm sure your future self will thank you.
Pro
Step 1: leave KPMG
You work at a well paying company, at 35 you really have no excuse for not having anything saved unless you have some wildly unfortunate circumstances. Just the basics is fine for you, 401k, HSA, Roth IRA and brokerage.
Rising Star
It's not bashing IMO, it's just a small dose of reality. OP didn't give much detail in the original post about the lack of savings and was asking about financial advisors. There are some people (actually a lot if you look at Americans as a whole) who make decent money and have little to nothing saved up. Heck D1 even threw in an exception, which holds true in this case.
Could this have been said nicer? Yes. Do the 2 main points stand? Yes.
Conversation Starter
Why don’t you have anything
Rising Star
You’re still young. I’m sure at 70 or 80 you’ll be glad you tried. Don’t let these risk averse people put you down. You have a great mindset
It is great that you are entrepreneurial. Sorry your business didn't work out this time. It is never too late to start. I would start with saving into a 401(k), at minimum to get KPMG's full matching.
Rising Star
Sit down and take a hard look at your budget. Why haven't you been able to save until now? How much do you think you can save (you can probably save more).
Start with your emergency fund. At least 3 months.
At a minimum you should at least be saving enough to get the employer 401k match.
Tbh, most consultants who are 35 should be able to max out their 401k, and then some.
I say this as someone who came from a low income family, had undergraduate and graduate loans, and didn't start consulting until 3 years ago (I'm almost 35 myself)
Rising Star
If you have no money to invest, you should probably save some before calling a CFP.
Sign up for your 401k, open an IRA. You played yourself, but you can still fix it.
Now is a good time to start your 401K with the market conditions. Make sure you hit at least the minimum for your company match. Put as much as you can before April 15th of next year towards your 19.5K contribution. You have some time to fix. But you have to be disciplined going forward towards maximizing savings. Good luck