No debt, 26yo, and just got a 45% increase in total comp to 110k salary.

My 401k is pretty small at 15k, due to 3 years at a low salary. Now that I have an extra ~2k a month, should I max out my 401k to catch up or save for a down payment on a house?

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Max 401k before putting money aside for down payment.

Time is the biggest thing in your favor.

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How did you get a 45% with Deloitte!?!

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Now that’s how you go get it!! Congrats OP

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I’d personally contribute only the max 401k % that Deloitte matches then I’d max out your Roth IRA ($6K per year; post-tax but grows tax free), then I’d invest in like a brokerage account. Mix of pre tax and post tax for retirement and then an investment account for short, medium, and long term investments (house, car, grad school, etc)

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I second this! I got a 42% increase switching from services to consulting and I’m doing exactly what S&1 said regarding maxing out Roth IRA (except I had bought a house prior to the $ increase)

Do you currently have anything saved towards the down payment? You can max your 401k and still save for a down payment depending on your horizon for buying.

Why not do both. I would find very low down mortgage and buy the house now while also maxing out 401k. Refinance once you get to 80%LTV. Can’t live in your 401K.

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When you refund a signing bonus do you
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3- mix between 1 and 2 refund more than was deposited but less than the whole amount ( taxes should be refunded to me next year)

My contract says 2 and they want to do 3 Help

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