{ "media_type": "text", "post_content": "How much money do you have left over after you pay all of your expenses and tax? After taxes and rent, healthcare, 401k, and food, I have about 12-14k left over at the end of the year. Is this low? Should I be saving more?", "post_id": "5f7bb8a51a316a0022e04f81", "reply_count": 23, "vote_count": 3, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }

You are currently posting as works at Deloitte

How much money do you have left over after you pay all of your expenses and tax? After taxes and rent, healthcare, 401k, and food, I have about 12-14k left over at the end of the year. Is this low? Should I be saving more?

3 reactions

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You are currently posting as Director 1

To the person who laughed at OP’s post: you’re a horrible person! OP: My brother who makes about the same as you do, living in a HCOL city, saves about as much as you do annually.

7 reactions

You are currently posting as Deloitte

Thank you!

You are currently posting as Deloitte 1

-20.67

5 reactions

You are currently posting as Senior Manager 1

That is fantastic, there are people at your age or income level blowing money on wants not needs and adding debt on top of debt. Quickly that 12-14k will be 100k.....

3 reactions

You are currently posting as Deloitte 5

I'd max Roth at this point while you are in lower tax bracket. after your income grows past 110K, traditional makes a whole lot more sense. If you aren't planning to buy a house, go for maximum a year now.

You are currently posting as Bain & Company 1

Monthly??? That’s pretty good

2 reactions

You are currently posting as Deloitte

Annually!

You are currently posting as Manager 1

Kinda depends what you earn..

2 reactions

You are currently posting as Manager 1

Doing well

You are currently posting as Deloitte 2

$70k that is great I’d max a Roth IRA while you’re at it

2 reactions

You are currently posting as Accenture 1

I’ve been saving my entire second check, about 3k. I’m normally an aggressive saver, plus with the pandemic, it’s been easier not to splurge.

2 reactions

You are currently posting as Accenture 1

Same D4. Those random expenses throw me off and I hate when I miss my goal. But I try to focus on getting to it as close as possible

2 reactions

You are currently posting as EY 1

Pro

Do you max your 401k? If so, then that is alright

1 reactions

You are currently posting as Manager 2

Pro

The earlier on in your career you can save more for retirement the better. 10% certainly isn't terrible but I would try to out away more than 7k a year in retirement if you can manage. 20% is a good benchmark. Right now it looks like you are saving about 30% overall (including retirement), so you have some room to move things from one savings bucket to the other. It's hard to say more objectively of you're saving enough without knowing more. E.g. do you have debt , how much are you paying on that and interest, etc. If you're looking to boost savings (and if I read between the lines, I think you are), take some time and analyze your monthly finances to understand what you are spending on, what you think you can reduce, and create a detailed budget. Use software like mint, simplifi, or quicken to track.

3 reactions

You are currently posting as Deloitte 5

This is an excellent start. If you make 70, your actual take home is more like 40, so kudos to you for ending up with that much per year in savings, which probably excludes the money you are growing in the retirement accounts. Find more corners to cut and be smart with investments. Every drop helps, and Rome wasn't built in a day.

1 reactions

You are currently posting as Deloitte 3

Pro

I saved $9.34 this year. Last year it was $8.05. My goal next year is triple digits. Ladies try not to be too impressed.

You are currently posting as Deloitte 6

You guys are saving money?

You are currently posting as works at Deloitte

How do I retire by next week? Need suggestions. Thank you. ✊ We in this together.

1 reactions

8 months

You are currently posting as works at Parthenon-EY

Conversation Starter

Roughly how much in cash $$ goes towards your traditional 401k a pay check...

2 reactions

You are currently posting as works at Missouri High School

So, apparently my school has the lowest teacher attendance this year. As teachers- what would be a good incentive to get perfect attendance and not use your PTO?

10 reactions

7 months

You are currently posting as works at Consultant

Broke up with love of my life due to finances. I still think about him everyday and wonder if I should go back. How do I know I made the right decision? I make 200k, he makes 50k. Money is fluid and not very important to me, but he wants to take care of his parents who will retire in few years, and I couldn’t help but think this is a bottomless pit. I don’t get why they are retiring in 60s with no $, and I want to save up for my retirement and future kids, not pay his parents rent. His friends

38 reactions

You are currently posting as works at PwC

Most of my 401k is currently in a 2050 target fund. Any suggested alternatives?

2 reactions

You are currently posting as works at IBM

Wanted to share this somewhere!! Recently hit $200k net worth at 27 as a daughter of low-income first gen immigrants. I know this isn’t a lot compared to others here but it’s a lot for me!! I don’t have a super high salary (making around $100k/year for last two years for benchmark) but have been saving and investing aggressively since I started working in 2018. Super excited and wanted to share 🙂 I’ve had minimal guidance from parents so resources like this group have been super helpful!

780 reactions

2 months

You are currently posting as works at McKinsey & Company

What is your number you need to hit to retire early?

6 reactions

13d

You are currently posting as works at Deloitte

If I plan on moving back to India in a year (which is confirmed), does it still make sense to invest in 401k (traditional or ROTH) from@now through 2021?

1 reactions

You are currently posting as works at HR Generalist

What kind of benefits does your company? How many weeks of vacation did you start at? Sick time ?

10 reactions

2 months

You are currently posting as works at Associate

put 6K into my roth IRA, just want to dump it into a few ETFs and forget about it until i’m old and wrinkly - what should i go with? VOO? QQQ? thank you in advance for helping me retire!!

2 reactions

a year

You are currently posting as works at Accenture

Anyone know how we can capitalize on a resurgent Chinese economy? I wish as Americans we can have more emerging market fund options for IRA’s and 401K’s targeted specifically in China. https://apple.news/AtMAAiSHTTHm6E4W3xoaOfA

1 reactions

You are currently posting as works at PwC

Real Talk: New Year, New Goal. Share your age, NW and goal for this year. To start off - 38, 650k, 800k

27 reactions

a year

You are currently posting as works at Senior Analyst

Was laid off recently. What should I do with my 401K being managed by my company?

1 reactions

You are currently posting as works at Nvidia

Hi All, am a novice in investments but I am interested to learn. I currently have approximately $25k in HSA and have $200k in IRA (rolled over from previous employers 401k). I am inclined to invest heavily in ETFs but am not sure how I should break down my portfolio and how I should evaluate a ETF. Any pointers would be helpful

6 reactions

a year

You are currently posting as works at FTI Consulting

Recently changed employer and wondering what I should do with my 401k, Roth IRA and regular investment account? They are currently all sitting in Fidelity and my new employer use BoA. Any advice is appreciated!

1 reactions

4 months

You are currently posting as works at Accenture

Where should I start saving for FIRE? I would retire at 45, so I assume I can’t do my company’s Roth 401k or a Roth IRA because of the minimum age limits before withdrawal?

2 reactions

You are currently posting as works at Consultant

Are Vanguard target funds good options to invest my 401k money in?

3 reactions

You are currently posting as works at Senior Manager

PSA: the combined 401k contrib + employer match + Mega Backdoor Roth limit for 2022 is now up to $61k (from $58k): https://www.nerdwallet.com/article/investing/mega-backdoor-roths-work

A mega backdoor Roth lets people save as much as $38,500 in a Roth IRA or Roth 401(k) in 2021. But not all 401(k) plans allow them.

nerdwallet.com

7 reactions

4 months

You are currently posting as works at Deloitte

Hi All, I managed to get into a big 4 with base pay of 73K, Benefits allowance of 4.7K,pension of 8%, annual bonus between 12 and 18% and sign on bonus of 7K GBP in London U.K. office. Sponsorship for main applicant is also included. Wanted to know if this is a very low offer considering the fact that I have 6.5 yrs of experience in ERP consulting. Level- Manager

1 reactions

6 months

You are currently posting as works at EY

How much do you have in your savings? -Age/Rank/Location -401k/IRA -Savings account -Brokerage account

19 reactions

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You are currently posting as works at Merkle

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You are currently posting as works at Betateam

Testing for sound!

You are currently posting as works at Betateam

Posting from the top side.

You are currently posting as works at Merkle

My company is now displaying!

2 reactions

You are currently posting as works at Merkle

How great would office emojis be in this app?

1 reactions

You are currently posting as works at Betateam

Yeah you're right. It cuts after two lines instead of expanding.

2 reactions

You are currently posting as works at iTechArt

Post for likes! 😤

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You are currently posting as works at Merkle

Bbdjdndjdjgsjdjcbbdbxndbdbcghsbxhdbdbbxbbdbdbbdbdhxhdbbdbxjdbxbhebsbxb dbdbdbd Bebe the. Dbdbdbd sehsbevshdvhdbdbdbdbdd dbhsbvdbdvdvdbvduchhcbd dbhsbvdbdvdvdbvduchhcbd and I have love you so too but I

1 reactions

You are currently posting as works at Merkle

How does this sound?

1 reactions

You are currently posting as works at Senior Consultant

Do you think a Bachelors degree will become the new Associates in the next 10 years, and a Masters the new Bachelors?

7 reactions

You are currently posting as works at Manager

PwC, Deloitte, KPMG providing permanent remote options. What are the terms & conditions? Pay cut, geographical restrictions, progression, etc.

1 reactions

8 months

You are currently posting as works at The Boston Consulting Group

Know your Myers-Briggs type? My guess is that there are quite a few of us here that are ENTJ.

16 reactions

You are currently posting as works at EY

Managers out there: 90% sure partner (male) is sleeping with a staff (female) on the engagement. What would you do?

4 reactions

You are currently posting as works at Accenture

Which consulting firm produces the biggest dbags?

5 reactions

You are currently posting as works at Senior Consultant

I am noticing that McKinsey is increasingly recruiting at non-elite schools (very roughly speaking not top 15 schools). At my old undergrad, 5 years ago the most competitive firm to show up was EY. This year McKinsey took 4 non-internship full hires. Why is McKinsey going “down market” for recruiting? Are elite school kids losing interest in consulting so McK has to cast a wider net? Or is McK seeking a wider pool for other reasons? I advise undergrads on consulting so want to be best informed.

35 reactions

You are currently posting as works at Deloitte

That awkward moment when your client whips out an electronic cigarette and starts puffing away mid presentation.

17 reactions

You are currently posting as works at McKinsey & Company

Burnt out. Every holiday it gets harder to re-motivate myself to get back to form. Any others feel similarly?

15 reactions

You are currently posting as works at PwC

Accenture, on behalf of consultants everywhere, I beg of you: don't f up this SPG/Marriott merger. Send in your A team and build a better world for us.

401 reactions

You are currently posting as works at Deloitte

Anyone ever hooked up with a coworker? How did that turn out?

4 reactions

You are currently posting as works at PwC (PricewaterhouseCoopers) LLP (Consulting Practice)

Has anyone tried giving up their seats on Delta or JetBlue? Is it really worth the time?

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How much money do you have left over after you pay all of your expenses and tax? After taxes and rent, healthcare, 401k, and food, I have about 12-14k left over at the end of the year. Is this low? Should I be saving more?

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