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I freaking love wearing khakis
What does a VP1 make all-in in IBD?
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Does your 401k have a Roth option? Max that too
If you live in nyc and don’t plan to live there forever Roth is not the best option. Tax rate is probably higher in Nyc than where u retire
Your HSA savings account functions similarly to a traditional IRA, and the good news is you can use the proceeds eventually for non medical expenses (with a small penalty—but it’s better than paying taxes on the money upfront), so definitely max out contributions to it too. Plus if you do have medical expenses, you should pay them out of that always...
Put way more into the 401k, max is around $18k each year
HSA if you have one
Employee stock purchase plan
Roth is key, more 401k if you can afford it but if not, at least up to the amount your company will match. Set some into HSA (only annual medical expenses). Also keep 3 months expenses in cash. Rest of it throw into a regular trading account
Maybe I’m just a little confused but if you’re making over $135k on an individual basis, you can’t contribute to a Roth IRA.
Pretty sure that even as a 1yr Analyst you’ll be busting through that cap.
1st year analyst in IBD will bust through that easily. 1st year analyst in back office won’t even come close to that
What are your goals?
Buy some crypto
If he makes above $130k, maxing his 401k should be easy