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15% of salary since my first job out of college. I didn’t start maxing it out until like 2-3 years ago, but I had kept other investments in the market. My overall savings rate is closer to ~50%. 31 years old and have $440k saved for retirement

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32yo, 10% plus 2% match. I have it set to increase by 1% every January until I hit 15%. Currently have about $30k in my 401k and another $25k in my IRAs (Roth for my contributions, traditional I set up for rollovers out of a couple old 401ks). Previous couple companies I contributed about 6%.

Graduated late and aggressively paid down some student loans, credit cards, and car loans, but I’m getting back on track with retirement. Multiple relatives have lived to be 90+, and my grandma is like 95 atm so I’ll need as much retirement money as I can get.

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Or eat a lot and drink like a fish!

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I put 1% away. 😂 I have no plans or desires to live until retirement age honestly.

likefunny

Well then change therapists!

I max out every year

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Max out 401k and IRA every year. 26 with 150k across all retirement accounts

likesmart

30yo 10% with +6% match currently but much slower in the beginning. Have about 75k now (37k Roth401k rest old traditional 401k) Thinking of lowering to 6% and bank the 4% for another house (and rent where i live now).

likefunny

EY3 you repeated what I said, that payments are after tax (ie. from net pay). It isn't that you're being taxed twice. You're being taxed on your income, which you use to pay for things. You would be using your post-tax income to pay for a different kind of loan, or to put the money in a regular savings account, Roth, or to pay your mortgage if you just paid less down for house. The difference is that while you are waiting for this transaction to occur, you take advantage of market conditions, and after the transaction occurs, the interest is paid back into your own 401k account as payments are made. You also have the safety net of being able to not pay the loan back and take the remaining balance as a taxable distribution should financial disaster fall and you lose your job/are unable to pay. In that case, for the remaining balance, it was pretax going in and taxed going out, as any withdrawal would be.
If you insist that it is double taxation, that's your prerogative, but that's simply not how this works. Not sure what you do at EY but I'm really hoping it isn't financial planning.

18%. 30 with 200k, aggressively increasing each year.

smart

18% into 401k, maxed Roth, and Maxed HSA - never spend HSA money

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I maxed out at 30,000 last year.

funny

6%. Maxed for a couple of years but took that money and moved towards house savings. Currently 30K with 125K in retirement accounts

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When I was younger and thru age 54, I mostly maxed out my IRA and 401k contributions. There were a couple of years where I diverted money to a house fund but always got the match. Now at 56 I contribute enough to get the match but everything else goes into taxable brokerage account (hint:start saving in there too - you will need it earlier than you think). And honestly I’m not really aggressively saving as much and I’m good with that - all the early savings are compounding and working for me. This has allowed me to take a job that doesn’t have great pay but is fun and has benefits so I can coast into retirement. Right now it is about $1.7M and I’ll start taking distributions in 4-5 years.

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Maxing since manager promo, 5-10% before that.

I used to max out, now I put 6% to get max company match and 25% goes into my investment account.

I only started maxing out my 401K recently; before, I just used to match my employer contribution. I have about 120K saved for retirement. 35 y/o. I do own assets and consumer debt is minimal, so it depends

69k annually, minus what the firm puts in my wealthbuilder. Mega backdoor Roth is the way to build your wealth guys!

I won a pretty significant lawsuit and it’s just sat in my taxable brokerage for the last few years. I was looking into this and then had some major life events come up that really messed me up from being able to do this. I’m planning on selling about $40k of stock per year and pumping my 401k contributions and then doing the conversion

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Related Posts

What’s the general guidance on the order to maximize retirement contributions for tax benefits for an normal individual and for a self employed/small business owner before moving to taxable accounts or alternate vehicles like cash value life policies?
I’ve seen for individual: match trad 401k->match roth 401k->max roth IRA->max trad IRA->max trad 401k->max roth 401k->max HSA
For self employed: max SEP IRA/solo 401k->max roth IRA->max trad IRA->max HSA

Of course situations differ but in general?

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Folks that got a prenup. How and where did you get it? We have spoken to a couple of lawyers and it simply seems to be a back and forth they want to do to rack up billable hours/complicate the issue. My SO and I pretty much know what we want. We are doing it mainly to protect my SOs inheritance. Looking for the simplest way to execute this. TIA for any advice.

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Phone and Internet bills reimbursement claim in Grey HR. With this claim are we getting Income tax exemption or reimbursement of cost. Can someone clarify it.

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This in their 30's, how much money do you have saved? Did you start your own family? What's your age, and do you own or rent your place? Btw I'm in my mid 20s.

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Realtor fishes, let's play a game: I share some details of some listings that we have available at my office and you let me know if we should keep them in our portfolio or make room for better properties.

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Newly minted consultant here looking for financial advice.

So I just moved to consulting after B school, and It's more money than I've made my entire life. After paying for rent and living expenses, I have 6000$ left over every month. My student loan payments are about 1200/month at 7% interest. I still owe another 95K on my loan. I have the option to pay more every month and reduce my overall interest paid.
Currently I put about 3000 towards my loan and 3000 towards my savings. Cont'd...

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Hi! I maxed out my Roth IRA this year.. recently changed jobs and it looks like I may just cross the income limit. What should I do?

I know my contribution but not sure of the dividend earned against this year's contributions. I have had the Roth for a few years now.

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What will be the take home and what is special allowance?

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I’m leaving my job soon but I’m wondering if I should be truthful when I hand in my letter of resignation. There’s a ton of reasons but it boils down to: I’m worth more than they can pay me and I need to pay off these student loans. What should I say?

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Recently received notice from landlord rent is going up ~20%. For reference, it is privately owned condo and did not sign at a COVID discounted rate. Super frustrated. What are others seeing for rent increases?

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I get credit alerts from Experian/ TU & was told two email addresses were found on the dark web. Have been hit w fraudulent charges in FL via Chipotle app; rec'd email that said sender knew my password (was partially correct) & was going to send nude pics of me to my contacts; rec'd email from Best Buy about my email being used to reset my pword (don't have BB acct) & today was notified of a declined transaction in Canada (I'm in TX). Besides changing pwords/ replacing cards what should I do?

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Don’t mind me here as an international student just sitting here with my bucket of popcorn watching you all bicker about student loan forgiveness

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Hi all,

Does Here Technologies offers employees stock purchase program in India, do they provide stocks with regular offer/bonus??

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Sears may go officially bankrupt tonight. Time to liquidate those SYW points !

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At what net worth will you be comfortable quitting your current job to pursue a less-paying “dream” job?

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1/3 Question on tax treatment of nonpriority unsecured claims converted into long-term note decreased total liabilities under Chapter 11. An accrual based C-Corp taxpayer completed a Chapter 11 reorganization and converted a total of $1M A/P to suppliers into a $410K LT note (a $590K liability reduction). Should we view this $590K as the Sec. 108(a)(1)(A) excludable income? After reading through IRS Pub 4681, I think it makes sense to view the $590 as "Reduced Price After Purchase", but not

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Has anyone ever heard of this type of real estate private equity fund structure:

-One LLC, so only one PPM
-Multiple investors that can be onboarded anytime
-Multiple investments that investors can determine whether or not they want to invest in
-One K-1 per investor based on their investments and income
-Ability for the Sponsor/Fund to invest directly, indirectly and in equity, debt, Pref, etc.
To me this seems extremely cumbersome and would require multiple classes of (cont’d)

Investment advice for a junior associate (with minimal research or effort). Young with minimal expenses, so open to any and all suggestions.

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Hi All,
One of my friends has recently joined capgemini and has following doubts related to tax proof.
Can we edit the tax declarations in HGS portal every month any day?
Does Capgemini asks for rent agreement along with rent receipts as a part of tax proof submission?
Also which proofs needed for,
80c - elss lic
80d - insurance for senior citizen parents
80ccd1b - nps

If you were 22 years old with $55k in cash and $14k in student loan debt what would you do?

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More Posts

I’m looking to go somewhere for a week at the beginning of December. Traveling solo and want somewhere warm and safe to be out alone. Recommendations?

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Does anyone know how to join a sports league in the Arlington or dc area? I’m a amateur so I don’t know if that would be looked down upon

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This is an emotional dump rn. It may be lack of social interaction but I'm really frustrated lately. I feel like I lost last 2.5 years of my life with ongoing lockdowns and job instability in the first half of the pandemic. I was 28 turing 31. I get good dates but -ve self talk
Inflation is high & coming from a low income family where you're supposed to help your parents is driving me nuts. Although I make a good salary, after rent, car insurance, there isn't much left (unfav currency exchange)

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Thinking of pivoting from insurance defense to something more meaningful and (dare I say it) with more work life balance. Currently in my 7th year of practice and am just tired of ID. Anyone make the transition? Any advice?

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If there's any other industry you could do analytics in, what would you choose? I'd really like to work in tech, more interesting, better pay, and I've heard if you can get over the wlb it's worth it.

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Is IB worth the sacrifice of WLB? Obvious pay is really good but are the prestige and pay worth it if you’re planning on only doing it for a couple years?

Currently working at an IRA with great WLB. Honestly I love my job, the firm, and people I work with.

Also doing MBA part time at a T15 school. Thinking about switching to IB but I’ve done my research and I think I would burn out of IB in two years but I might be ok with that for the opportunities after.

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likefunnyhelpful

Do people in studios get paid substantially more than other offerings or practice (exploring to switch, thus asking)? what is the average consultant income bracket in studio? I was also wondering if anyone aware of gender centric wage disparity in DUSI?

Has anyone successfully transferred teams in the same agency? At a prior agency when my partner & I did, it was an “issue”. Trying to do something now but respect everyone. Ppl are just so protective.

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Hi Fishes ! Any idea how's the product team at Shine(HTmedia). Getting 22 LPA fixed as PM. I've a total of 3 years of workex in product.

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I'm a recent grad who accepted an entry-level full-time job offer with Capital One. I knew that MBB and other consulting firms rarely ever negotiate salary with new grads, so I didn't with Capital One as well. Was that a mistake? What were the likelihoods that they would have raised my salary? I had no other competing offers at the time

Up late working on a pitch. 5 beers in. AMA.

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15 days left for my joining but I did not received anything about onboarding, when do they send mail for this?

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Anyone from Dell? Need a referral for me at Dell for Salesforce DomainDell TechnologiesDellDell EMC

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If u have the addictive gene, Advertising is so easy to self destruct. Supporting each other is invaluable. Keep these posts going. It DOES get better. U can be sober in advertising.

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Which luxe car do you own/ lease? I’m gravitating towards leasing a Mercedes.

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As a fresher and having completed 2 months at DI I feel that there is no growth for me here. Has anyone felt the same?

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How is the WLB and job security at Global Logic , anyone please suggest ??

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How much Salary is getting for a digital advisor in Microsoft India

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Additional Posts in Accounting

Working from home because I’m sick, but feeling too sick to work. How do you charge time when you are clearly being less efficient/effective?

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How about the accountant who was the emergency goalie last night for the Blackhawks. Wonder if he is on here 😂

likeuplifting

The big four conspire to pay CPAs far less than we are worth. Partners are paid millions and you’re only making $75k. You should have been starting at twice that.

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Just finishing my first week in as an audit intern and genuinely I have no idea what I'm doing or even a general idea of the audit process. The senior associate left the engagement last week so it's just me and an associate, and they don't have time to give me instruction.

Am I stupid or did the e-learns not prepare me for any of this? The training told me I'd be auditing cash but I haven't even touched a bank reconciliation.

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Reasons to go to law school? What’s the market like for CPA JDs?

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Health question: How to deal with chronic back pain? I may have a herniated disc and wondering if surgery is a viable option. I hate being restricted actively and constantly reinjuring myself.

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I feel like I need a career coach because I am considering switching jobs but I don’t know where to go or where to start. I feel really overwhelmed and don’t know what I’m qualified for. And then always worried another job could be worse than the one I’m in now. Am I the only one like this? Where do you start? I can look at job postings and all but idk what I want to do long term. Especially with WFH I feel like there’s absolutely no networking or anyone to talk to outside of my team

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How bad is it if someone misses 3 time sheets and is up for senior promo?

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We stay until 8 or 9 everyday and then at the end of every week my manager tells me to book only 40 hours. It sucks ass and now I have to explain to my counselor why my utilization is so pedestrian...

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Thoughts on big 4 boomerangs?

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How much are EY experienced hire sign bonus?

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If you put in your 2-week notice and they cut you off that same day for going to a competitor, would you still get paid for the remaining 2 week period? (Assuming it's the start of the period)

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I left Big 4 after 2 internships and 1 year as a staff for reasons I’ll describe below. I was highly rated and they didn’t want me to leave. I want to go back but only if I can be a senior. Realistic?

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How do you deal with people who throw you under the bus because they’re the ones who are incompetent?

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Have you ever in-charged an engagement where your staff are higher ranking than you? E.g. you're staff 1 in charge of a staff 2 and a 1st year senior. What is your advice for others in this spot?

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In DC for next week. What’s good around here? Gonna catch a Nats game and Skins practice. Hit up some museums and monuments. What about food or bars? Anything else not known?

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We had evaluations and normally we have annual raises. I think my salary is under market value at $68k (plus OT) in Los Angeles (5 years of experience). I was told I am one of the top employees in the firm. When I asked about a raise, I was told “when you think about it at your level 5k to 10k doesn’t really matter it’s the long term goal that matters”. What would be your response to that, to a partner who is making 500-600k a year?

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Can you change your 401k contribution amount specifically for bonuses, in the fidelity 401k? You can do this for Schwab 401k but not seeing an option for fidelity

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Has anyone worked for an accounting advisory (technical accounting) practice and FDD? Which did you like better and why?

I'm in an AAS practice but wonder if I'd like FDD more.

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I see some Partners’ CPA expired, but they still put it on their business cards and email signatures. Are they allowed to do so?

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