If I am planning to max out my 401k contribution, should I choose ROTH or regular 401k to maximize my tax benefits?
EY just cut our pension benefits without giving us anything in return, anyone else pissed? Also, what's the other accounting firms retirement package look like? What's your 401k match + pension like?
How do I calculate my husband’s estimated pension balance at retirement? Contribution is 6% of salary, 5% annual interest compounded quarterly. Contribution % increases 2% with each 10 years of service, about 30-35 years until retirement.
How would you frame this argument: Mom grew up poor and asked me for financial advice, dad isn’t financially literate. Together, they have pension+social security of $100k+/yr, and expenses of $65k. Mom insists on keeping $400k in cash since 2019 bc a large cash % of portfolio is recommended. Her Q to me is what level of aggressiveness she can have. My take: she can be moderate/very, bc income is always > expenses and the cash holding is for people subject to loss without the baseline. Thoughts?
Does it make sense to up 401K contributions now? For context, I just had a salary bump to $92,500 and have been working for under a year. Currently contributing 10%.
At what age did you start saving for retirement? I know everyone says the sooner you start the better, but I’m curious to know what a realistic age to start is.
what is the difference between a Roth IRA and the Roth I contribute to as part of my 401k? As a 24yo, should I have my own Roth IRA and contribute the full 6k? Any and all advice is appreciated
After maxing out 401k and personal Roth IRA, what’s the next type of account people open up. Looking for suggestions
I am planning on purchasing a home in the next 2 yrs. My intention is to take 10k out of my 401k to help with the down pmt. Thoughts on instead pausing 401k contro to save directly? 401k contro/month $360 (me); $90(employer). Currently 27 w/ 15k balance. Only 40% employer Contro vested. Pros & cons of each approach? 401k invested in S&P 500.
27F; Hit a milestone today of $100k invested! I came to this bowl 6 months ago prior to investing anything into a brokerage account. (I did have a 401k and ROTH IRA) Happy to say I’ve reallocated my $ and I’m starting to see it grow. No debt, the $518 is just my CC and will be paid at the end of the month. Thanks for all the insights. I’ve been a long time lurker, had to pay my way through college, have parents who are bad with $, and you guys really help strangers like me learn our way to FI.
Moms with kids in daycare/using a nanny - do you get to save any money at all ? Due to covid ( my son being high risk) we have a nanny and almost my entire paycheck goes to nanny(a good FT daycare will be 800$ less than nanny) We are thinking about one of us quitting the job but that would mean not even 401k and the stress of one person being SAHP plus house keeper and struggle to get back to workforce
I'm 33yo, 220k TC, work in US on a visa and have been investing for 1.5 yrs. I max out my 401k, invest 40% of my pay per month mostly in ETFs, and have some money in HSA. The goal is to get to 43y with 2M (and hopefully a green card from the US govt). However, the current investment levels aren't getting me there.. there's about 1M gap between where i want to be and where I realistically would be in 10y. Any ideas on how to bridge this gap other than increasing investment levels to 75+% / paych?
Hi! I’ve had a few recruiters reach out about roles that look very exciting but I’m really worried about leaving my current role before my 401K vests in early summer. I just feel it may be fiscally irresponsible, although I’m ready to leave. Is there a right way to bring this up with recruiters for either a work-around, or so I can keep the relationship going and be on their radar?
So I realized I set my 401k contribution to be at 15%… given I have $140k gross salary. I think I exceeded the limit. I lowered the % now for the next next billing cycle but I’m concerned… what should I do to avoid penalty?
So if I'm getting my bonus September 29 when do I need to request less of my paycheck to go to 401k? And I thought it was an annual election, once you change it it's like that for the year, no?
I’m expecting to max out 401K+Roth contribution of 19K by November. What happens after that? Will company still match 6% even if I can’t contribute? Also- what are best alternative savings options?
What's a car that says a person isn't rich but clearly contributes to their 401k and has an emergency fund so they probably live comfortably. I'm car searching.
What percent of salary is your RRSP match or pension? Please feel free to comment even if it's zero so we have a full picture
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MSM or Onion?
3 months into consulting and got introduced as the expert on something I didn’t know existed before January
When you work from home and set the alarm for 9AM and consider that "sleeping in"... I feel old.
Fifth harmony - "work from home" #np
Leaving out the points, budget. What’s your favorite hotel chain for comfort, quality and convenience?
Is EY hierarchy 1 analysts 2. senior associate, 3. senior consultant, 4. manager, 5. senior manager and 6. partner?
Does anybody here have travel/plane ears?
FB fam- need to stay in Dallas for one night tomorrow. Hotel/Airbnb? Any recom on what part of town?
Had anyone gotten carpal tunnel on the job?
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