How much should an entry level consultant, making 70K a year, be putting towards their 401k?

like
Posting as :
works at
You are currently posting as works at

It’s so hard, but I’d really recommend putting $19.5K (the max) if possible.

Even when you’re making more, you’re still capped and then you’ll wish you could be putting in more.

I put $10K when I was making $70K but really do wish I had gone and maxed it.

like

Put in the max every year. You will thank yourself in 10 years. The power of time and computing returns.

like

The more the better. Honestly keep changing the % and you’ll notice your check won’t change much. Start at 6-10 then adjust it up to 12 then to 15 and you’ll see that your check will be reduced by $100 but you account will be moving up fast

Depends on a lot of factors, including your expenses. You should have an emergency fund with a few months of expenses. If you have a 401k match from your company (like ACN) you should be getting the maximum match possible. I’d start there.

Related Posts

Interested in the job market in Charlotte. What are you guys doing (role), company, and how much do you currently make?

98 almost 99k base salary in San Diego, CA not including the bonuses or OT… is this too low or reasonable?

like

Misled on Maternity Leave Policy. I found out I only get 4 weeks pay for maternity leave (STD +“sick days”). I will take 12 weeks but wont get paid for 8 weeks. I work for a US, west coast based company in the tech/VC industry. Their website claims to offer “paid parental leave and other progressive benefits for parents”. I didn’t find out until after I was hired their pay was only 8 weeks but since I have been at the company less than 12 months, I don’t qualify for their policy. Is this unfair?

like

Hi,

I'm interviewing for Data Analytics Sr Analyst at Salesforce,
What is the Salary range for for this role?

Y.O.E - 4.5 Yrs
CCTC - 10Lpa,
Holding other offer - 21 Lpa

like

Can we discuss the sad state of affairs that is the Publicis maternity/paternity leave?

like

EY people- Is there a big difference between Director/ED benefits vs Associate Director?

like

Need advice guys!

Joining date is in one week. Please give suggestions.

EY GDS
Designation Senior consultant 1
CTC 21 lpa+2.1 lpa variable

PWC SDC
Designation Senior Associate 2
CTc 21.5 Lpa + upto 17.5% variable but will not be mentioned in offer letter + 50 K joining bonus

Domain SAP Advisory

Which one is good?

like

Hi All, I m in middle of Pre joining Formalities of on board CTS portal.
There is form come - Dependent Form ( not exactly remember now)

Have two options - if I don't add any dependent then got this message.

What's this form exactly all about ?

What are ' Social Security Profits ' Cognizant provide? I need your advise in this context as I m new to such things.

I would be thankful if someone can share their information on this in detail. 😊

Tata Consultancy Accenture Infosys Capgemini

Post Photo
like

Can someone tell what would be the night shift allowance in CTS for Associate designation. @cognizant

like

Does the stub bonus after A2A promote have any variability? I know BAML hasn’t announced yet so looking at past examples

like

Will Tesla come down under $500 in the next few months?

like

“It turns out that wealth does trickle down, you just have to make them bleed first”

I guess they didn’t like bleeding so they’re trying to manipulate the markets in their favor AGAIN.

Post Photo
like

Recent graduate with Bachelors of Health Science in Workplace Health and Wellness. Currently working in a Healthcare job but as a client service coordinator. Really would like to get a job in my field. If anyone has suggestions/recommendations please share. Within GTA would be great if not, remote anywhere works.

Which is best company to join among volkswagen it, mphasis , lemongrass assuming salary is somehow in same range.

like

Anyone familiar with EY’s Goverment and Public Sector division? Looking for a pay range for a job listed as Senior in “Customer Experience”

like

Hi Guys, Can anyone please let me know howz the M4 band in LTI and what are the responsibilities mainly.

like

Hello Sharks,

Can anyone please let me know the in hand monthly salary?

Post Photo
like

First year in consulting, is it worth purchasing a car this early? I’m living at home and about a 45 minute car ride away from my home office. Any suggestions? What have you done?

like

What's Deloitte's paternity leave policy? And how long do you have to work there before becoming eligible?

like

How do you make the most money in STEM? Is it about having a degree, prior experience and getting in touch with people? What’s your *success secret* and how does it relate to what you’re currently doing? Maybe you think business owners have the highest potential to make the most? Process engineer at an industrial facility in Goodyear, Arizona

like

More Posts

Folks at Deloitte India.
How were ur yearly hikes, last year??
Deloitte India

like

Hi Fishes,
What salary can one expect as a associate principal analyst with 3.5 YOE at Gartner CXO and advisory??

like

I recently was let go (in lieu of accepting my two weeks) and I should have received my March expense check by the end of April per the employment agreement (submitted the report April 1, let go before mid April). I have emailed HR but haven't heard anything. I've got a feeling someone at the top is putting a hold on it.

How do I get my money from them? It's a few hundred dollars

Sorry if this isn't the right bowl for this question - I've checked a few.

like

Anyone bought / buying TRAC?

like

Hi
Anyone facing this issue?

Post Photo
like

Microsoft Azure
Aws
Developer, administrator, architects

Remote support from india, for USA customer

like

Anyone has knowledge of EY structured finance group? WLB? Client base? Team culture? Exit opportunities?

Please share your insights. :)

Can we get a thread going of Senior Product Designer salaries.

I am currently a contractor and make $65/hr.

like

I am the partner leading our local office lgbt group. What should I be doing to engage more with our people during this time? Zoom once a month only goes so far I think but I have run out of other ideas.

like

Every damn time.

Post Photo
likefunny

Hi fishes
I am having 11.5 years of experience in .net .
Skill set includes azure /angular/.net core /webapi.

Have updated my resume on naukari and on LinkedIn not sure why I don't get enough calls.
Can someone help me find any referrals please.

like

Size question. When you buy ovecoats do you buy thinking of wearing over jacket / suits or just shirt? The fit and size will change depending on what you do.

Any coat recommendations? Looking to spend under $400 mid/long length in a dark grey or black. Never bought a coat before looking for something good quality that won’t break the bank

like

Looking for part time /remote BI analytics assignments in Atlanta report /dashboard development using Tableau Cognos or power BI

likehelpful

I read this super interesting article about how big companies like Toyota are investing in social-emotional training for their employees and seeing massive benefits. I actually think this could be a whole separate class for students of all ages. Learning about conflict resolution, growing your own self-regulation skills...it's really important.

likeupliftingsmart

Why does nobody point out the hypocrisy of Democrats nominating Garland and now being against the nomination of a Justice in an election year?

likefunny

Hi Everyone Looking for Job change .
Need your referance.

like

Hi Fishes,

I am looking for single occupancy in 2BHK or semi-furnished 1BHK.
Location: Wadgaon Sheri, Kalyani Nagar, Yerwada, Viman Nagar.

Please help!

Additional Posts in Consulting

Has anyone at Deloitte gotten a mid-year promotion because year end was underwhelming due to being at top end of pay band two years in a row? C to SC

Would you jump from Big 4 client facing consulting to internal MBB for relatively same pay?

like

Best consulting firms for work-life balance? I know consulting is chaotic in nature, but just curious to see which ones are the best in dealing with this?

like

Have you found using a standing desk increase your productivity? How else do you increase your productivity? I am so distracted all the time

like

Any book recommendations on handling office politics?

like

Hey all, can you pls recommend resources to get up to speed on Fraud and Risk management for Payments in fintech? Books /sites? I’m not in consulting anymore so no access to internal decks. Thanks!

like

Justifying the Sheraton's painful bed to yourself because the Four Seasons don't recognize your loyalty

like

For those of you with ADHD, how do you stay productive and focused when your team all sits crowded around a table and there's constant talking and calls on speakerphone? (Aside from headphones)

like

I’m at a T2 with 2 YOE. Feels like you only have real client exposure here once you hit around 4-5 YOE (from undergrad). Is this true at MBB/other T2s?

like

Does anyone hate how are low engagement margins force us to only charge 40 hours a week despite the fact that we work 60+

like

Sheraton Atlanta Perimeter North - worth it for a confirmed suite as opposed to the nearby Westin? Usually a westin loyalist.

like

Outside of M7, what is the best MBA program for consulting exit opps? Looking at employment reports, it’s looking like it may be Ross —> ~70 MBB hires

like

HNY! For those of you that took the AWS Cloud Practitioner exam, how did you prepare for it? Study materials, hours, etc?

like

Discussion post: I feel almost all consulting firms are the same. Mbb, big 4 etc. if you are paid enough there is probably less wlb. If there is good wlb there is not much money. Can you single out a company that you can confidently say pays very well and also has good wlb and also has good opportunities etc.?

like

What makes y'all wake up and go to work every day? Do you have a purpose in life?

like

Been working as a consultant for a few months and my motivation is struggling.

For those who persevered to a director level or higher, what was/is your guiding force? Your ‘why’?

like

Recommendations for books and podcasts on business, strategy, management, etc. that have helped your career?

like

Anyone single but have a king size bed? I just purchased a new king mattress but now feel weird about it. Help me not feel obnoxious and say this is fine. Lol

like

Any book recommendations?

like

I just want to thank my team for going the extra mile and pulling through for the client and firm. Way to go, team!

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal