How much should I as a junior associate be saving? Make $250k a year and have $5,500 in fixed expenses per month. Wondering what is more than reasonable? I have $28k saved so far.

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Like others have said: max 401(k). IRA too. Even if you can’t contribute pretax or directly to Roth, get a traditional and convert to Roth at end of year. Build up 6 months of expenses. Then set goals and budget. What do you want and when?

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I think the rule is that you should have 3-6 months of an emergency fund. I would max out 401k contributions, set up an HSA as an additional investment vehicle, and then put the rest in the stock market. Stocks are cheap atm so no better time to invest.

People are going to say to not invest because we are facing a recession and that might be true, but a bird in the hand is worth 2 in the bush. Stocks are cheap now and they will rebound eventually. Even if they go lower, which they may not, you will profit handsomely when they turn around.

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I’ve heard of a big law firms not matching

Second year ($225k salary) in HCOL area. I max out 401k and IRA, and invest $3k/month

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I feel like you could easily save 5-7K a month with a “broke mindset”. However, it depends on your goals behind you saving.

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There’s not really a right answer to this. Depends on your goals. Consult a financial advisor.

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