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Coach
A lot of lawyers are not good with money.
Subject Expert
I highly doubt most juniors even know what all of these things are.
Coach
Never assume lawyers are good at math
I max out my 401k and then max out my backdoor Roth. Then save some cash and pay my loans
Yes contribute the max. Money doubles every 7.2 years and you can’t get the time back
I did this - except firm didn’t have mega backdoor option
Yes 3 years in and 300k+ just in that account with growth. I also contributed during my summer but not the max
I maxed out my 401k and backdoor Roth IRA when I was a junior. I didn’t have a mega back door option, but I don’t think I would’ve been in a position years 1-3 to be maxing that out if I had. I’m also not sure it would’ve been a good idea to do so as that would’ve meant I wasn’t building the non-retirement assets I needed to buy a home.
I max my 401(k), HSA, and Roth IRA.
I certainly do