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Max, whatever percentage equals $18,000, been doing it for years. Started at minimum to get company match. Raised my contribution every time I got a raise until I maxed it.
I’ve managed to max for the last 3 years; coming from a pretty poor background, it feels like a big accomplishment.
Same as EY1.
I max my 401k, and pull $1k out of my check every period and drop it into a savings account.
Have maxed out 401k every year since graduating from undergrad
In the end, if you count my student loans as savings (what the near future state will be), I'll have about a 58% savings rate
Max + ESPP + 10% of salary into a savings account and/or post tax investment account.
How does that work with profit-sharing? Does PS count against the max?
What’s ESPP?
Minimum to get the measly company match, the rest goes toward student loans. Once those are paid off in the next 6 months I'll be contributing ~10% salary to the 401k and stashing the rest away for a down-payment in a low risk fund
Always max out 401k and other tax free plans as long as you can afford it and have a legitimate need. Save 20% of gross income and put after tax amounts in Roths or other liquid accounts. Hold a small portion in cash for tight months.
At least enough to get the entire match. Stocks will get you 7% on average in long run, mortgage/student loans is ~5%. Plus interest is deductible. I.e., a balance of investing and paying off loans is best
Yes max out the 18% (where company matches) supplement a traditional ira top off (up to $5500 a year) and anything left to save (however big or small) in an annuity. I am working with fidelity and it has been great. When you look at adding up more savings here and there , it really adds up over a 20 year spread. For sure though max out your 401k that is a pre-tax, matched no brainer. I also built 6 months of living expense cushion (ya never know when you might be acquired (and don't like the brand of poo from the acquiring farm) . You want the time and ease to know your full time job is looking for a job (and you can pay yourself a salary while doing that).
Savings yes, but not sold on 401k since money is locked up till you retire, unless you really like/need the tax break. Contribute enough to get entire company match, but otherwise a personal decision depending on your facts and circumstances (i get good tax relief w mortgage deduction and other itemized deductions and prefer to have the cash flow for other post-tax investments that I can withdraw in 10-20 yrs without waiting). Many resources and calculators online to help you, or talk to a financial advisor for additional perspective.