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How do I pivot from a broker to any job in tech?
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I have recently joined EY SaT group as senior consultant recently in Netherlands. I’m tripple masters in MS economics, MBA and MS business analytics. Have 4 YOE in different industries but no M&A experience specifically. Any ideas what company should be offering me? I’ll be working as expert on commercial due diligence, FDD and valuation teams and doing automation alongside. is it wise to demand higher salary or promotion soon after I have proven that I can work and do it better than most?EY
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Rising Star
I have been contributing since I started working. It is super important to contribute if you get company match... it is free money!
Probably older than most folks here... in the twilight of my career... started at the max 12%, + 4% company matching... slowly increases that due to higher limits.. at 18% now.... after 35+ years have hit my target of 15X current gross salary. Think long term folks!
Second question first - yes, I'm on track. I'm approaching retirement and all signs say I'm good within a year. I've been contributing since the year I graduated and started working, at least enough to get all of the match. At age 32 I changed industries and got a good pay boost, increased my savings to 10%, then 5 years later 12%, and crept up 1% per year until max. My employer would only withhold what was allowed so I never went over. 401(k) alone, with investment growth, is 14 years of my current gross salary.
Rising Star
I've been contributing since 23 and I'm 26 now. Just hit $68k and I am SUPER happy about it.
I put in enough to get my company match. I’m 60 years old and I currently have 11 times my salary saved.
38 y/o now. Been contributing for 16 years. Did some stupid custom investment options early on and lost some value. Majority in Target Date fund and S&P500 index since then. Now at $470k against a $170k salary, feeling mostly on track. Contribute roughly 14% (started at 8%, which aligned to max company match, and increased 1% per year as I got annual raises).
Been contributing about 10% since I started in 2015, and company matches 100% up to first 3%, 50% on the next 2%. Current balance is about $168,000. Definitely not complaining as it has beaten the market nearly every year on its returns, but I still have a while to go as well.
Been contributing for 12 years at 13% with company match. have 455K. Lost half of it during covid, but have bounced back and I look on track with my other investments to retire early.
I wish I had started younger, Had kids young and wasn't a high earner through my 20's and early 30's. I started contributing in earnest around 37. I've gone back and forth with the contribution amount, but my wife and I are now ramped up to max contribution for each of us. We have around $200k in our 401k's combined. We are both 45, and will up it with make up contributions when we are 50. I'm hoping to retire with a few million. Hopefully the stock market complies with my predicitons.
I’m 29 and have about $145k in 401k and $60k in a Roth IRA. Personally, I feel like I’m on track.
200k in retirement is pretty good! My total net worth is probably around 250K and have about 100 in retirement funds.
Been at it for 9 years. Just increased to the max contribution this past year. Ive got about $280k
Retired early due to layoff in 2023 with $1.7M ($1.6M tax-deferred and $100K Roth). If that were my only retirement savings, I would NOT have felt like I was on track, but my wife had $200K in her tax-deferred IRA, and together we had another $1.5M in after tax brokerage accounts which we had been building over that same 27 years.
I only wish I could've put A LOT more in Roth, but it wasn't an option in my 401(k) until 2020.
19 years and $900K
Early 30s, been working full time for 7 years. Been maxing out 401k for about 4 years. Balance is $200k.
max contributions since 2020. 150k balance or so
Got a late start on contributing as I didn't graduate college until I was nearly 30. When I finally got my "big boy" job, I found out (by dumb luck) that I not only had a solid 401k at 100% match on 6%, but I also had a pension.
Left after nearly 20 years and have (again, by dumb luck) found an even better situation where they match 7% on my 5% and ALSO have a retirement plan.
All that being said, I've been investing for 25 years and have $1.7m. I couldn't be happier - but I know it's not enough. I keep digging, investing, researching - doing my due diligence.
Keep up the fight! Compounding interest is real! And all you young bucks - don't get caught up in following senators for trading. Be risk averse just enough. Sure, invest here and there, but get a good financial investor early and max at your company investments as much as possible.
I’m about five years into my career and have about 100k in retirement funds. I also have about 100K of equity in my house, and about 50K of liquid assets and no car payment.
I have some investments that I’m looking to contribute a lot to which will probably divert from my 401(k) contributions for a little while.
I have maxed out every year possible for about 18 years. The only time I didn't max things out was when I was saving for a down payment for a house, and paying off some student debt. I am 45 and have about $1m. Nothing special but did catch some lucky breaks. Max that thing out!
It’s been a WHILE, but thanks for the reminder!