Just graduated college, my 401k isn’t being matched for the first year. What percent would you recommend putting in? Should I just wait till year 2 when I’m getting matched?

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

I would personally contribute, at the very least, the minimum % to get the full match - even if you don’t get it in your first year, at least you’ll get used to contributing that amount. It’s always worthwhile to contribute what you can.

like

Depends:
Do you have debt? Save emergency cash, eliminate debt.

Do you have 6-9 months of expenses saved in cash? If not, build your cash.

No debt and have cash? Max 401k, max IRA, Max HSA, surplus to brokerage, in that order.

likesmart

If I could tell my younger self anything it would be what H1 said. Contribute to the limit and live on what’s left over and follow that formula throughout your career and you will be golden

like

Third-ed what H1 and BA1 said. I wish I had contributed the max from the beginning. I could have afforded it but didn’t make the choice to. It’s hard to step down when you’re used to living at a certain level.

like

My first year out I contributed What my “would be rent” of 1500 (I commuted). Compounding is your friend

likesmart

If you can afford it, contribute so you hit IRS max (I think 18,500 this year). You can reduce your taxable income and as K1 said, get used to making contributions

like

Contribute at least the future match; go as high as 15% if you can. I know it’s steep and the pretax savings now is beneficial and you’ll have a nice nest egg down the road. Again, it is all determinant on your own personal situation

like

Compounding/interest works both ways - debts can grow and drown you.
BUT,
Eliminating debt is a risk free return!

Think from a net worth perspective:
Lever 1: Assets
Lever 2. Liabilities
Both impact net worth.

If you have debt, kill it!

like

This ^

helpful

Minimum 15% at all times throughout your career. If you start from from the beginning, you’ll never miss it. As said above, the power of compounding is incredible. Go for regular pretax 401k for now. If you want Roth assets (for tax diversification, etc), open a Roth IRA.

like

I always contributed to the fullest extent and then every raise or bonus I got I funneled 50% into mutual funds. Now, even after 2 divorces (female in a no fault state where spouse got half) I still have a good retirement nest egg. You never know what life will throw at you so just be ready

like

Do you recommend roth 401k or pretax for someone in their early 20s? I just opted to put 15% into my roth 401k

Knowing IBM's match policy, put it into your own Roth IRA or something. It's not just that they don't match first year, IBM matches in a lump sum at the end of the year -- you would have to put into 401k entire second year, and it will be matched at the end. IF YOU LEAVE BEFORE COMPLETING SECOND YEAR there will be absolutely no match whatsoever

Should I invest in a 401k first or an IRA first?

I did 14% and 14% in each my first year-ish. Neat egg would technically be bigger if I did all pre-tax but I’m hoping to be in a bigger tax bracket so I did the ira as well

Related Posts

These are the benefits for a client we’re working with that needs Sales Engineers and Applications Engineers ASAP! These are regionally specific jobs that can sit in SC, CA, NC, GA, anywhere from Houston to Chicago - pretty much just hit me up if you’ve got an engineering degree and some moxy!

Post Photo
like

Does signing up for hardship assistance during COVID impact credit score?

Bad time to switch out of dumb stocks and into index (tech / high risk stocks) or just hold and dca cash / new cash into index? Yes I should’ve been doing this / should’ve earlier in the year, but I was being stupid and stubborn in holding

like

Anyone in a Big 4 (maybe better at EY) ever done an alternative or a fund private investment? If so what are the rules/process to take to clear it if anything? Or just report it in independence?

like

What is the UK salary for band C2 and what are the perks and benefits?

like

Looking to sign up for a points card in the UK- does anyone have a recommendation? Anyone have the Virgin Atlantic Reward+ MasterCard?

I have got an offer from S&P Global I want to know about following things

How much of Variable Pay is Paid ?? I got 15% of Base salary but how much will be paid like the usual norm i want to know

And what are the deductions from Base salary apart from PF ?
There are lot of allowances like internet reimbursement etc etc
Are they mandatorily credited or you need to claim ?

In regards to benefits/rewards, is it better to have a loyalty to Uber or Lyft?

Hello,
I graduated in June with a dual BSBA in healthcare management and humans resources management/organizational management. I have 12 years experience as a medical assistant. I'm having trouble finding my first job as a healthcare manager. After submitting so many applications and receiving so many rejection emails I've become frustrated. Any advice anyone can give is greatly appreciated.

like

I have an issue: just been informed by compliance I have a violation. Using a brokerage restricted and at this point I am at a loss. I sold off all my stock just to comply. Then put the only stock I kept with the broker, the other one is my wife’s employer 401k savings broker. The instructions say they will reach me within 90 days for next steps. It also says there may be financial penalties.

What should I do? I replied the email immediately asking for help. I am a new to Deloitte and the US

Bittrex or Binance? Or another? Is it possible to convert Litecoin to Alt coins on Binance?

Hello from San Diego,

Recently separated from the Navy after 10+ years as a hospital corpsman. I have my degree in healthcare administration. I have years of leadership experience, leading teams, managing clinics etc. Having a hard time finding a job. Is anyone hiring or know of someone?

Thank you

like

Over 12 years of experience in Healthcare vía administration, any ideas or suggestions to transitioning over to becoming a consultant?

like

Can anyone share what are the perks & benefits we will get in barclays , i didn't find much in offer letter , planning to join chennai . Barclays global service center

like

Getting so over the grind of New York but don’t want to give up the pace of my career. Where should I consider moving (PR necessary, healthcare preferred)

like

Any doctors in here? 31/M and get occasional sharp chest pains. Any notion to what my outlook for causes are? No health insurance currently and little in reserves.

like

Considering to join PWC. What are some benefits that PWC offer? (e.g. paid time off for senior, insurance, and so on)

like

Anyone run a side business for the tax benefits? Thinking about things like the over 6000lbs vehicle tax deduction, home office deduction, etc. What sorts of business do you all have?

like

Is it normal for a company not to provide paid maternity leave? They said it’d be paid by the state under FMLA for 3 months. Is the FMLA benefit payment taxable?

like

What blogs/books/resources should I seek out if I want to make the transition from passive trading (index funds/buy and hold blue chips) to more active trading (options, speculation, spending a few hours a week researching, etc)? I’m looking to turn my investing into more of a side hustle

like

More Posts

I recently interviewed for a AE role with an international company Home Office-Dubai, HR in NYC I interviewed with the recruiter & hiring manager at the same time; interview went well. I sent thank you notes and received a response saying they would let me know In a couple of days. I noticed they reposted the job and was bummed, but out of nowhere I received a email saying they are working on something on the backend and would have a answer for me soon! That was 2 wks ago not sure what to think

like

I have a offer from abinbev and fractal analytics. Package is similar . Which one to choose ?looking for good quality work and work life balance. 4 years of experience in data science

like

Any salesforce fish willing to refer me? 9 yoe, interested in TPM roles

like

Is task rabbit the best way to move single piece of furniture within Manhattan? or do you have any other recommendations?

like

Best way to deal with stress? I get stressed over the tiniest things and automatically assume the worst scenario which makes me pretty overwhelmed. I feel like it’s gotten worse over time too!

like

Anybody recommend any good performance review platforms for agencies experiencing rapid growth?

Anyone have any suggestions on how to discuss not spending my own money on office expenses? We don't have corporate cards, yet I'm expected to purchase snacks on a constant basis for meetings.

helpfullike

Does anyone have any insight into Johnson & Bell Ltd in Chicago? Culture? Pay?

likehelpful

What is your business like when it is at its very best?

like

Top 3 attributes you look for in a SFH (for rental)?

like

18LPA India - Fixed + Variable - Before Tax India
60k Euro - Fixed + Variable - Netherlands Before Tax but 30% ruling eligible.

Please confirm if it is okay to move on 4 years of experience.

like

Thinking about taking the leap to freelancing. I’ve only ever worked full time at agencies but, I’m looking for more flexibility.

Pros vs. cons? Anyone know what the freelance market is like?

like

What if you are a data analyst and working as a python developer? Is it easy to switch to a development?

Ethics Question: Is it ethical to interview at a firm that your in a case against? In other words, you represent the plaintiff and the firm you are interviewing with is representing a defendant. I can see how their might be the perception that you would "pull your punches" in order to not ruffle the feathers of your prospective employer. Thoughts?

like

What do VPs make in Golin NY? Considering a VP, Catalyst role in Consumer and wondering what the range is like.

like

Anyone have three kids and working in big law? I just found out I’m pregnant with no. 3 and it’s been a lot trying to juggle morning sickness, but based on my experience, I know this is only the tip of the iceberg of what’s to come. My husband and I are elated, but the anxiety of being a mom of 3 kids and working in big law is preventing me from truly enjoying this news. It would be good to know what it’s really like having 3 kids so that I can evaluate how long I really have left in big law.

like

How do you deal with a designer that stamps their name all over the work they did on a team project with 5+ other designers?

like

Best resources (books, online courses) to learn theoretical part of sales process?

like

Is Oracle Unifier a good product?

Can you please help me choose between these 2 offers?
1. Indium- 16 base+2JB(no variable) Have to work as data engineer contractor in uber india but with what the HM explained, it sounds like support role.

2. Swiggy- 16.5 fixed (no variable) Business Analyst

like

Additional Posts in Consulting

Any recommendations on a good office chair below $500?

like

Decent food in SLC airport? Had catcora's last Thursday and got sick as a dog 🤢

like

How much did you spend on trips/recreational activities in business school (NOT rent or general food expenses)? Trying to budget!

likesmart

Would you lateral from Guidehouse/Huron/Slalom type firms to Deloitte SC level (MBA)? What about after 2 years at level with expected Manager level promo upcoming?

like

What is the final round at PwC like?

like

Rest In Peace and Power Chadwick Boseman...gone way too soon

likehelpful

Learned that I’ll be laid off next week. Setting up networking meetings now to find something new, but know it will take time. How do you explain a lay off or gap in employment to potential employers?

like

Thoughts on visible tattoos? Visible like something on the forearm, not a face tattoo or anything. I've been toying with the idea of getting one, but don't want to put serious thought into it if it's a def no in the professional environment still. I'm a woman

like

People posting questions like "blah blah blah blah ?? GO", proves that Donald Trump had fucked lots of women in past without a condom.

like

2017 raises and bonuses at ey

like

Hi All - I am in the last stage of interviewing for Booz Allen. I’m an aspiring consultant transitioning from industry (healthcare). BAH told me the position itself is full time but it is “attached to a contract.” Should I be worried that I would lose the job if and when the contract ends? Would love insight from current or former BAH folks

like

2nd year senior using another offer as leverage to be made manager. Realistic?

like

Chazelle's girlfriend is ex-McKinsey

like

Best consulting firms for strategy in the US besides the big 4 and MBB?

like

Book recommendations for new executives?

like

Deloitte advisory folks, when does promotion decisions are made????? Up for M and feeling fairly close to burning out ...

like

Consultants - have you found it difficult to maintain existing friendships? Or make new ones because of the hours worked? How do you deal with this?

like

At a small consulting firm and I’ll be leading a PowerPoint training for new analysts. What would you recommend I present - there is already a separate session on storyboarding. Don’t want to (cont.)

like

Q for my desi folks: I came to US 7 years ago for masters from a Top 3 school and have been at McK since. My family in India still think of me as a failure who couldn’t clear IIT/IIM and took the easy way out. They try to downplay my achievements every chance they get. How do you cope with such negativity?

like

Is it true that Mckisney is the new KPMG of the consulting world?

funnylike

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

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

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