Hi! Pretty new to this concept, and really early within my career (only 3 months in). Currently on my company’s 401k plan, contributing well beyond the minimum to receive a match, and maxing the amount I can put in right now (25%). Dabbled a bit in options and stocks in general. Any advice, guides, or starting places you would give someone in my shoes? Thank you in advance!

like
Posting as :
works at
You are currently posting as works at

Build a plan, work backwards.

I wouldn't recommend going "all in" on anything but that's a difference in mindset

401k, Roth IRA, VTSAX is about all you need

Real estate if you want to accelerate

Only thing more important than a high top line is a high bottom line

As your income increases, try to keep your cost of living close to the same

likesmart

Don’t be afraid to go “all in” on an investment or two. I passed or went little on a few opportunities in my first 2-3 years out of fear, but my big wager back then actually was quite small.

like

Open a Roth IRA and try to max it out. Also if your insurance allows, max out your HSA

D1 once you reach a certain age (in your 60s) it turns into an IRA.

If you don't have employer subsidized health insurance you can expect to pay $500/month. And that was the rate I received as a 20-something. Plus I read a statistic that a couple can expect to spend $250k in retirement on healthcare. Either way I am thankful for the tax advantage.

like

Related Posts

How do you manage your money?

I only bring in a little over $2,600 a month. After paying all my expenses, I get to put away $500 a month in savings but don’t have much wiggle room for anything else, including going out money.

I’m very privileged to have a significant inheritance and zero debt of any kind. I really wonder how my peers who have student loans, car payments, and even children manage to pay their bills and live so comfortably. Please share if this is you!

like

Celebrate azadi ka amrit mahotsav and reach your financial freedom when India will be celebrating 100 years of independence. 🇮🇳🇮🇳
DM me on 7019194829 for more details!!

Post Photo
likefunny

If you had $150-200k inheritance coming in what would you do? Invest it, or put down a size able down payment as a first time homebuyer. Thoughts?

like

Looking for referrals in healthcare consulting. Please let me know if your firm is hiring. I have been looking as well. Thanks!

like

Does Electronic Arts have tuition reimbursement?

Given that tech sales reps can be some of the highest paid professionals, but with “lumpy” income, curious how people are investing? Feel like not enough of my peers are doing alternatives like real estate.

like

If anyone wants TSLA to go up, just tell me and I’ll sell some of my shares.

likefunny

What do comps and career progression look like for expert track consultants at MBBs? (Healthcare) 7 YOE in consulting, Fortune 500 strat, and early stage startups.

like

Anyone been hired through Solomon page temp to perm? How does payment work? They’ve contacted me 3x about a role but I feel like I can’t swallow not having benefits unless I get offered full time. Also getting paid through them seems like it could be sketchy.

like

What are buyers brokers actually do in a real estate buying process? How much do they charge in Manhattan?

like

In my offer letter It is written, 23k towards medical benefits, how this is getting allocated. Like employee with dependent how much. nd employee with no dependent how much allocation.

If someone is not adding any dependent then will they add remaining amount as part of salary. please advise.

like

I am in my early 40's and have about $300K invested and some in cash. I have $70K in credit card debt (no lavish lifestyle, just 2 bouts of unemployment and some major medical expenses, even after insurance).

I live below my means, LCOL city, used car, max my 401K, save my bonuses, etc.

I am going to get a large bonus where after tax, I'll get a couple hundred thousand.

Should I prioritize pay off all credit cards or pay down half/some of the cards and use the rest for a house down payment?

like

What will be my inhand salary and tax deduction on this?

Annually (A):
Basic: 400000
HRA: 160000
Conveyance: 19200
Medical: 15000
Fuel: 10800
Telephone: 12000
LTA: 48920
Other Allowance: 312480
Total Earnings: 1000000

Deductions (B):
PF: 43200
Professional Tax: 2400
Insurance: 10800

Net Pay (A-B): 943600
Tax deduction will be done monthly.

like

Is there any good of PF or just it is wasting our CTC?

funny

Crossposting here. Bought a house with my partner (unmarried but planning on marrying in the future) I want to get a cohabitation agreement drafted so we know what happens if we split. Tips on what we should include?

like

First time home buyer - anything you guys have learned going through this process? Any tips? Sincerely, someone who doesn’t know what they’re doing.

likehelpful

So news isn’t great about coronavirus and Trump is saying things will get really really bad. Not sure if buying puts is still good idea after last week.

like

Current care coordinator and full time nursing student looking for a remote healthcare job that pays well and is flexible for students…any suggestions?

How will you be spending your increased TFSA contribution limit ($6000) ?

like

Has anyone had any success stories on daily meditation? I hear about all the amazing benefits and I want to try it. How has it impacted your life and when did you start seeing results?

like

More Posts

Is there a sport that's popular in the tech community? I don't dislike sports and I kind of want to pick up an interest that I can bond with people over. My guess is Basketball?

like

Coworkinf space for remote workers in DC? I’m tired af of working at home and want the office back. Google has a DC office but I’m not sure I can get a remote work desk.

like

Our company is attempting to move from basic agile to the scaled agile framework (SAFe). In preparation, we are trying to make clear who will fit into each role. There’s some confusion around the “business owner” role, and what titles might assume the role. Would an IT manager be an example of a “Business Owner”? IT director? Management on the business side?

like

I have little frame of reference for the salary, commission, and other comp. of reps in the manufacturing space, particularly contract manufacturing. What’s your current role, years of experience & current compensation?

I’m a top producing salesperson at a mattress company generating about 400k GM a year. Total compensation is around 75K a year. I was curious if this is in line with the industry?

likeuplifting

Travel industry sales reps check in here! What's your base? Mine is 60k which seems low.

like

Hi, could you share which salary range would be expected for Sales Director in IT consulting in Switzerland?

likesmart

Is it possible to get a remote job in the US but be based in Canada? Not sure of the legalities but the salaries here are much lower than those in the US...

like

My current company A has not yet disclosed appraisals. High chances that they are going to call this week.
I have cleared all the rounds of one company B and have shared current compensation letter for them to work on the salary
Should I wait to submit the documents in order to check the percentage in A and use new numbers to ask for some more hike in B?

like

Can you make a ton of money in operational consulting/restructuring? More than IB?

like

Anyone hiring Project Mangers or Scrum Masters?

like

Hi Folks,

I have done with all the rounds for SRE position with Oracle. I have uploaded all the documents for the bgv in the first advantage url. It's been 15 days. Since then I didn't receive any communication. The director told initially when he started the offer roll out process that there is a freeze going on and needs to get the approvals to get this done. How many days will it take to roll out the offer basically with Oracle India. Can some one please help me with info.

Thank you.

like

What would you say is your top KPI metric for social media on IG and other social platforms?

Meaning: if you see it performing well you’re happy.

like

Hi Friends,

Looking for a job change and serving notice period. Can someone refer?

Details:
YOE: 9 Years
Tableau: 8 Years
Skills: Tableau, SQL, Talend, AWS, Azure (Learning Python)
Holding offer: 23LPA

Hey! Currently a CT Tech for <1 year and Xray for >5 years. Considering taking on a role in IR. Any suggestions before moving forward and is there’s significant change in pay? And is the pay/work load worth it? Thanks in advance!

like

Is this bowl dead? i was going to start a mpls bowl then realized this one “existed”

like

What’s the word on Colle Mcvoy these days?

like

Hello! Does any 🐠 here have a Tumi discount code/link they can share? Just found out my bag is non-repairable even though in warranty, and am getting a credit towards a new bag. Thanks in advance!

Best meal you've had in Chi town recently? Parents are coming!

like

Additional Posts in FIRE Financial Independence Retire Early

I am in my early 40's and have about $300K invested and some in cash. I have $70K in credit card debt (no lavish lifestyle, just 2 bouts of unemployment and some major medical expenses, even after insurance).

I live below my means, LCOL city, used car, max my 401K, save my bonuses, etc.

I am going to get a large bonus where after tax, I'll get a couple hundred thousand.

Should I prioritize pay off all credit cards or pay down half/some of the cards and use the rest for a house down payment?

like

Question about credit scores and MBA loans. (FYI I know this is not mathematically the best option but want to do it to remove mental burden of student loans). Planning on paying off the balance of my MBA loans, ~100K, at the end of the summer once I can save a little more. I have offers to refinance which would give me a free $1,000 and slightly lower interest rate. Would refinancing now and then paying off the “newer debt” in 3 months negatively impact my credit score?

like

Can someone explain vesting to me like I'm 5? My company's retirement plan is 50% of first 6%... annual match... >1000 hours before first match. I joined on July 29, 2021. Which means I didn't qualify for the match at year-end 2021. I will qualify this year.

The vesting schedule for the match is: <2yrs = 0%, 2yrs = 40%, 3yrs = 100%.

Does this mean I will get 3% of my salary held until July 29, 2023 when I get 40% of the 3% released, then on July 29, 2024 I get 100% of the balance if I leave?

like

Anyone tried strategy of buying a (row)house with separate basement rental and living in the basement and renting out the upstairs?

like

Hello, looking for some guidance. I make 70k a year, I pay $1300 in rent, and I contribute 7% to my 401k
Most months, I am able to add $1k to my emergency fund, $400 in a travel fund, and $200 has leisure money. Is this okay? I find myself very nervous about my expenses even though it may not be terrible. What should I do?
If it helps, I grew up taking care of myself (state ward) and recently paid off 60k in student loans. I have no one to count on so I need to make sure I don’t fail with this.

likehelpful

Can someone explain to me what a back door IRA is and how it works? I’m making over the income limit to contribute to any standard IRA and am maxing out my 401 K but no company matching program so I’m wondering whether I should be doing more

like

Made a profit of $100k. Got the cash a few days ago and haven't spent a dime on celebrating. I have become serious about the FIRE.

likeuplifting

Looking to buy a new home in the suburbs but need help figuring out what my price range should be. HHI is $500k, savings are about $300k and I have the following debt: (1) investment property 1 mortgage $380k, (2) investment property 2 mortgage $460k and (3) brokerage account margin balance $600k. Thoughts?

like

My mother has $80k she’s had on the sidelines for years in a money market account in her 401k and she’s asked that I put it in the market for her. Should I put this in the market now or DCA over the next few months? FWIW she’s in her 60’s and will retire in 5-10 years

likeupliftingsmarthelpful

I am 56 years old. My financial advisor has suggested that I create a charitable remainder trust as a tax planning strategy to address $1M in unrealized gains and also allow for tax deductions. I am concerned that I will out live the trust and there will be an excessive contribution to the charity rather than my heirs. While I want to be charitable, having too much go to the charity is a conern. Any suggestions ?

like

When switching to a new company, what's my leverage to asked to be paid via my (S-CORP) incorporated company, by 1099?

like

How old is your car that youre driving? I know folks here try to save extra by driving older cars, so just curious. About to upgrade my 2012 car for a 2018-2020 when 2021 models come out.

like

I’m going to be borrowing $100k from a family member for a real estate venture. We want to tie the interest payment to an inflation index. Any recommendations on publicly available indexes to use? I thought CPI-U but that’s not really a valid index for RE.

like

Getting a fat bonus > 50k. 401k will be maxed, already dump 3-5k in each kids 529 and have more than six months of emergency fund. Already own a house at 2.85 etc. not flexing or anything just want to know what folks would do with a sizable bonus. Need ideas please. Otherwise dumping in VTI lol

like

Looking to get life insurance now that we are about to start a family. Mid 30s couple,(I history of cancer, but healthy for last few years since treatment was successful), we have $1.5 in net worth, 60% equity in 1M Home(10 yrs left on a 2.0) ,HH income ~350k annually. Looking for advice on what to consider.

like

Thoughts on whole life insurance? Worth it?

like

Hi, I know this isn't the place to seek tax advice. I haven't sold a car so this doesn't apply to me just yet, but was curious on the overall topic and people's experiences if they've dealt with this.
If I bought a car and sold it for less than the initial purchase price, would I pay taxes on the difference between the sale price and cost basis? If so how would I determine my basis in such a rapidly depreciating asset? Trying to decide if selling is worth the potential hassle. TIA

like

Mega backdoor question - I wanted to take advantage of this while it still existed so I contributed to after tax 401k the last few paychecks. Is the correct process to do a withdrawal/rollover directly to my Roth IRA account? It seems like I can do a direct deposit from the 401k but it is asking if this is a checking or savings account which seems wrong.

like