Just became a 401k millionaire.
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Thoughts on offshore firms?
How many days in a week are you visiting office?
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Hi fishes! I volunteer with The Art of Good, a creative collective helping small businesses affected by the pandemic. They are seeking a little help from a media professional. Need an SEM POV for a small business looking to change their name and relaunch their brand. This is non-paid. More about giving back while in-between gigs. :) If you can help out or want to learn more, please reach out to me via LinkedIN. Thank you!! www.linkedin.com/in/karenkohn/
Chief
This shouldn’t be news to people but it is.
I got the job. That is all.
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Clearly your empathy for others and knowing your audience got you to the top. 💪
Nah, unfortunately many/most folks can’t afford to follow it.
Cool, how much are your entry level kids making?
I’m 44. Max out your contribution. Always get the match. Never cash out from one job to another. The time value of money can’t be denied. Invest aggressively
K
This oughta rack up the likes
How many years ago did you start maxing out your 401k?
That’s fabulous for you. As for us millennials I wrote this song about student loans to the tune of the Alf theme song: “We’re all fucked, we’re all fucked. Nothing matters. Avocado toast.” Then there’s a 🎷 solo.
Congratulations!
I’m only *checks account* many hundreds of thousands away. Awesome to know it can happen!
You can leave your 401k at your old company. No matter how much they want you to roll it over. Two benefits: it might give you more investment options than just having it in one plan. And two, which most people don’t realize, is costs your former company money to have you still in their plan. It might not be much, but if you were let go by that company, it’s a nice little F. U. to them. That’s my situation. Plus, if you ever do go back to work for them or that holding company, it’s easy to just reactivate and pick up your vesting where you left off
👆🏼 Everything OP said — just start early even if you can’t max it out. Just start. With anything.
Meanwhile, I have coworkers putting in their two weeks because salaries aren’t keeping up with cost of living
The OP’s strategy is dead on... That’s the path, but unfortunately many/most folks don’t have the discipline to follow it.
Nice work! I’m sure you had to grind for many years to get there. Hope to join you one day!
Nice work! Best advice you could give. Young ad people, pay attention! Your retirement is more important than that thrasher hoodie
It’s a great accomplishment! The government ain’t gonna help you in 20 years so build your own pile. Those saying you cannot afford it should do the exercise of upping it and seeing just how little it impacts your take home. Find your sweet spot. Leave no matching dollars untaken. And do not cash it in (disbursements for schooling, housing, or between jobs just to take the money- I think that’s what the poster above means, rolling it over is fine.)
Handy chart...
This is wrong. You should rollover into the lowest fee vehicle you can whenever you change jobs. Often an IRA. 401ks aren’t paid for by the employer - they’re paid for by YOU through some absurd fees. You can just get the same thing for less via vanguard.
How old are you?
Time to retire