Invest in your 401k/investment accounts or pay off student debt asap?

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

Max 401k at least to lower AGI and tax burden

like

Depends somewhat on interest rate of student loans, but it’d have to be really high for me to forego maxing my 401k (and prob Roth IRA as well). If we’re instead talking CC debt at 24%+ interest, yeah absolutely pay off the debt asap.

like

Pay off student debt if it’s more than an 8% interest rate.

like

Eh 8% accounts for historical market growth, but doesn’t account for tax benefits of the 401K. Personally, student loans would have to be 15-20% for me to skip out on maxing the 401K.

like

Never miss maxing out your 401k, especially in your 20s. Then, focus on those loans. Take any bonus and throw it at the loans- pretend like its not even your money!

like

Related Posts

Holys*it, the seller accepted my offer, i’ll be owning a condo. Surreal! Did i make the right decision in this environment??? 😱

like

I only have Reg left. I failed it once before. For those who have passed Reg what were some of things you focused on? Also if you have any study tips I would really appreciate it, tax has never come naturally to me.

like

Anyone has experience in investing through Angellist?

SOL vs ETH 2.0?

like

Hey Fam, I’m thinking about doing DIY investing/passive investing. What broker should i use? I already have a wealthfront account. But I’m thinking doing it myself will have less fees. Thoughts?

like

Looking to open a taxable brokerage after maxing out Roth and 401k. It’s more so for a house down payment in 5-7 years. Can someone please provide insights on ETFs vs mutual funds?

Any tax saving ninja technique??

like

First instinct this morning... put more money on coinbase. Hope by the time it clears I still catch the bottom.

like

Fixed ctc 2435000 Lpa with gratuity 3.5k pm and pf including both employer and employee 16k pm. Any estimated what will be take home pm post tax?

like

How to calculate in hand salary and how much will be tax and how to save taxes? Old or new tax regime?

Having a PPF invested for 1.5L IBM

Post Photo
like

Is there anyone from Canada here? I’m looking for some information on working out of the country, but selling insurance.
Thanks

like

How did you get into real estate?

like

Late in the game with buying crypto. Single but with limited savings with which to splurge. What is a good price point during a 'dip', and which 'stock' is best in my situation (LTC, BTC, ETC, etc.?)

like

When settling with a title company plaintiff on a subrogation claim, have any foreclosure defense counsel received settlements over and above policy limits? What is your typical settlement range? How has settling on your subrogation claim negatively affected your counterclaims against the mortgage lender if at all?

like

Does anyone else think we should start investing in more light rail systems to cover some of the distribution problems we're having? I think it might be a good idea. Anyone have any thoughts about this?

like

Experienced folks pls share your views. I am planning to buy a 3bhk. All tower corners (4 sides) have 3bhk options available and I might get to choose inventory in any tower and on any floor. Point to note: North has City view, South has Hill view, W has Forest view & E has city view. If you were gonna buy a flat in this site what all things you would think and then make a decision. First time buying flat.

Post Photo
like

Can I move to Florida the month my bonus hits and not pay any NY State tax on it? Or would I just declare that 1/12 of the year I was in Florida and get the pro-rated refund from NYS on my overall Pay

like

How do you effectively plan for retirement?

like

Going through a closeout. 50-50 profit share allocation, but my business partner has been using the venture money at their personal piggy bank (hence the breakup). My accountants say because we agreed to 50-50 shares, the leftover money has to be divided equally.

They spent $100k in the last month on random "work stuff" but bought a new car, etc. Now I have to pay for it with less equity return!

Just wanted to rant, I'll probably never go into a partnership again.

likesmart

Need help looking for a 1 bd, I’ve tried domu/Zillow but none of the options are appealing. Should I be using a realtor?

Budget: $1,200
Areas of interest: LP, Lakeview, Wicker Park, Old Town, Streeterville, West Loop, River North

like

More Posts

Anyone switched from B4 audit to advisory (ex. management consulting, deal advisory)? How did you start networking / get the opportunity? Any advice?

Nothing worse than an analyst who thinks they know everything and can't think big picture - neither can you take direction nor do you understand broader context around said comments

like

Has the way you consume your news changed since you started working in this industry?

like

What do you wish you had known before becoming a manager?

like

I'm a new employee, and my manager told me that I'm no good at my job. How am I supposed to learn if I'm not allowed to ask questions?

like

A customer brought me a Christmas gift today. So sweet. What's the nicest thing a customer has ever done for you?

likeupliftinghelpfulsmart

Nailed it! 😂

Post Photo
likefunnysmart

Moderators/managers for virtual communities actually have a pretty difficult job because the rules for posting have to be interpreted, there are very few hard and fast absolutes in this profession

like

We should do a meet and greet event so everyone can meet 🤗

like

Fell out of love with real estate. The more I'm in this industry, the more I realize most people are looking to make a buck instead of helping their clients.

like

Should I take an L on Paysafe? Feel like none of these SPAC stocks are going to have upward movement anytime soon

like

I feel like my boss never joins my working call with my stakeholders, is this normal in big tech, like they don't have time to sit in the same meeting with you to understand and course correct your working styles? Like I am supposed to take the whole lead from day 1 independently.

like

Quarantine life has me reassessing my life and in that I realized the girl I’ve been dating casually for 2 months isn’t for me. How does on handle this when already lonely AF?

like

I did it! I got an in-house Paralegal position after years of working and being burned out at different law firms. I was going to leave the legal field all together because I was so burned out and depressed, but I decided to give the field one more chance if I was able to go in-house. Prayerfully, this transition will be a good one.

like

I'm new-ish to copywriting after working as news reporter and TV host for years. I'd like to start putting together a portfolio of my writing, but I'm not sure what a marketing copywriting "book" should look like. I have emails, blog articles, promotions etc. Any good examples or resources you could share?

like

Hi Fishes, I am looking to switch. I have 6+ years of experience in Java, Spring boot, Microservices and AWS. Can you please suggest companies with a good work culture and wlb. I am currently working with Hitachi Vantara.

like

I’m trying to get an estimated ideal of what my costs would be when moving to Chicago. How much do you spend a month on “going out” (before pandemic)? Specifically referring to going to restaurants, getting drinks, take out, and coffee. Not including transportation.

like

What are fun things to do for 2nd date in Chicago?

like

For any real estate investors

22 years old and currently focused on using my left over income to invest and pay off my debt. I am set to pay off my college loans by next year and, when I do, I want to look into investing into real estate. Does anyone have any suggestions on how to get into/learn more about real estate investing? Or how I can have enough knowledge on the topic to be able to invest wisely when the time comes?

Any books? youtubers? etc. How did you all learn about it?

like

Anyone here who moved from India to Singapore in a VC/PE firm or FANG (business roles) in the last year with new EP issued (not an internal transfer)?

Additional Posts in Texas Big Law & Elite Boutiques

What do you think of the LSAT decision? Personally I think it might be a little unfair to suddenly abolish it when hundreds of thousands of students have had to take it over the last few years and beyond. But I get that it's expensive. Anyways, good idea or bad idea?

like

Thinking about lateraling to Dallas as a PE M&A third year associate from NYC. Which firm do larger deals? Public M&A? KE, Sidley, Gibson, or VE? Can you survive at any of the firms doing 2000 hours?

like

I’m a non-TX immigration attorney mentoring a UT student who went to my undergrad. He’s done incredibly well in OCI and pre-OCI. Thus far, he’s landed interviews with (all in Houston): Baker Botts, Sidley Austin, Kirkland, Winston Strawn, Reed Smith, Norton Rose, and Locke Lord. Also Perkins Coie in Dallas. He’s leaning transactional, but also open to litigation. Any insights/advice on these firms in the TX market? Any to avoid?

like

What's the best firm to work for in Dallas? Genuinely curious.

like

If buy the partners you work with regularly a holiday gift, how much do you spend? Usually I get baked goods or food items which you can’t tell the actual amount spent on. This year, though, I’d like to support local restaurants by encouraging people to order takeout—hence, giving gift cards.

How much is appropriate for a restaurant gift card from an associate to a partner?

Did you vote? I finally made time after work yesterday.

like

Anyone else experiencing pencils down?

like

How's inflation and cost of living in Texas this year and any predictions moving forward? With the recession looming or already here I'd like to relocate to somewhere cheaper (currently in Seattle), but only if it's going to stay that way.

like

Has anyone successfully transferred offices within Texas? Dallas to Austin.

like

Folks that have worked in Big Law in other areas of the country, what do you feel is different about being in Texas? I've been offered a role in NYC but may decline because I'm just happier here, culturally.

like

Do most firms start reporting years in September or January? Prior firm did an August year for counting hours and then another did January (both Amlaw 200). Looking at an Amlaw 100 to lateral in the fall (so trying to anticipate how much of the year I’ll have). I’ll ask what bonus/reporting year but just curious if most follow the same.

like

What’s the best real estate shop in Dallas? Not including Winstead or Jackson Walker.

like

Thoughts on how the upcoming recession will affect the law industry?

like

Can anyone give me insight on Winstead Dallas? I am considering laterally to Dallas from Chicago & have a screening interview with Winstead coming up.

like

Lynn Pinker, a lit boutique in Dallas, just matched Millbank at 215k.

likehelpfulfunny

Anyone have any insight into the Dallas office of Holland & Knight? Thoughts, feelings, concerns?

like

Texas Big Law friends, might I suggest donating some of that big law cash to causes that are pro-gun control and anti-mass murder of children? I hope you’ll join me.

likefunny

Anyone have any guidance on how the Roe v Wade situation has played out at work? Anyone come into any issues with Partners? Or anyone impressed with new policies they’ve brought in to accommodate the issue?

like

What’s the deal at Jones Day Houston? No one seems to last there…

like

recommendations for firm with good real WLB and open to remote work in Dallas or Atlanta? Doesn’t have to be true big law. Terrified to get it wrong…again… for the 4th time. 6th year Real Estate.

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