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Are you a diverse person? Are you an ally to DEI?
I’d love to speak with you for 10-20 mins about my LLC and Nonprofit and the work that I’ve been looking to do as it relates to education and diversity.
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Whats up woth BABA?
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Chazelle's girlfriend is ex-McKinsey
Any PwC 🐟 from Zürich willing to connect?
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Chief
At that income level you should be contributing the max in my opinion
Generally agree, but it depends on other factors. For example, are you paying $30k a year in child care? 🤦
Rising Star
The max - 19.5k
Correct, they’ll stop taking contributions when you hit the max
6%. Pretty much everyone can make better returns investing in stocks and ETFs themselves, so there is no reason to max out your 401k. Just put in up to the maximum match % and then move your post-tax dollars to a personal investment account or Roth IRA.
Rising Star
Two advantages to a (Roth) 401k over brokerage investing:
- Tax-advantaged: Grows tax free, unlike brokerage
- “Forced” retirement savings: It’s a lot easier to pull money out of a brokerage account than a 401k, so one is, on average, more likely to leave 401k funds alone to grow for the long term
If we’re talking specifically about Roth 401k vs Roth IRA, well, you can do both. And we’d want to consider investment options within those accounts.
Agree, max
Get the match (Always), depending on the brokerage they are using and the fees (Total management fees, not fund fees although they are also very important, index funds FTW), it (might) be cheaper in the long run to invest the difference in a non-tax advantage account. I know it personally is for me
Damn that sucks if so. They don’t even have a couple low fee index fund options in your 401k?
Chief
Max