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LOL looks like it's quitting season
M&A Advisory exit ops?
i hate 5am departures
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401(k) matches are a joke everywhere these days
Ha, what's the match at pwc? Our firm matches 25 percent of our contribution to be vested over four years I think. Which is a joke.
I did 5.5k max Roth and 18k pre tax 401k contribution my second year at the firm. Income being 58.5k. So it was doable if you can live off like 2.2k a month
^ as are the vesting periods required
Pwc1, I believe the $53k limit includes employer contributions, but your max for your own contributions remains at $18k
It's a 5 year vesting at PwC. It's all pennies, but they're free pennies so I'll take 'em.
Don't know, my mom works at a store and she gets better 401k than I do.
Hey OP, your understanding was close. The 53k includes employer contribution but you can break the 18k limit if they allow post tax contribution, which Pwc does. Google mega Roth Backdoor method to see how you can also break the 5.5k Roth IRA limit using pwc's post tax 401k contribution
Well that's what I said -- 25 percent of our contribution is matched. Up to 6 percent. Comes out to almost nothing.
Max out HSA and Roth. Plus 15% to 401k. Thankfully I can afford it right now.
All depends on your needs and circumstances. I poured around 15k into student loans over the last 8 months so I didn't contribute much anywhere. But I can comfortably live on 1500 a month and put away the rest once I'm done with the loans.
Im sure only a few people max it out. HSA is around 3.3k, Roth is around $5.5k, pre tax 401k is 18k and total 401k contribution can be up to $53k (plus employer contribution.
I have Open Access Plan (so no HSA) and I don't contribute to a Roth. But, I do contribute the max amount that PwC matches for the 401k
Kpmg 1. I'm probably sure you're not giving us the full picture. Pwc firm match is 25% match of only 6% of your income. I'm sure kpmg doesn't do dollar for dollar match for the first 25%
Pwc 2. Our 401k match sucks but remember that we got the wealth builder which acts like a firm match as well. You just need to vest those as we. Same vesting period of 5 years (20% vested after 2 years)
What's wealth builder and how much is that?
@KPMG 1 It's a firm contribution based on staff level. 3% for associates, 4% for seniors, and so on. It goes into a separate account along side the 401(k) but treated the same as the match. So essentially they match up to 5.5% for me.
There are a handful of people who want to be financially independent much earlier on in life than normal. Check out mr money moustache blog as he's a very popular example of one. And from there you can find lots of other resources about this
At least your firms have a match. #timetocheckout