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I am currently pursuing a position to be a 401k workplace planning consultant with Fidelity Investments. I would like to connect with someone who has gone through that training and early hiring process to make sure I have a solid understanding of the position. This is specifically for the Raleigh/Durham NC area if possible.
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I am currently pursuing a position to be a 401k workplace planning consultant with Fidelity Investments. I would like to connect with someone who has gone through that training and early hiring process to make sure I have a solid understanding of the position. This is specifically for the Raleigh/Durham NC area if possible.
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Maybe contribute less to these pretax accounts…
@Designer What good are your financial investments if you continue to run yourself ragged like this? I’d encourage you to look at the tradeoffs more holistically and perhaps think of lower 401k/HSA contributions as an investment in yourself.
You need to balance your pre tax with your daily needs. You don’t want to pre tax all your money to work other jobs, take care of your self 1st. You don’t wanna feel (burned out,mental heath, stress, anxiety) etc.
As a side hustle : Not sure what type of designer are you, but you can be freelancer as a designer if it’s your passion as long it’s won’t conflict with your company mission) Good luck 🍀
With H1b visa, unfortunately you’re strictly tied to your current employer.
There are gigs that you may not need to report on like dogsitting for your neighbor, watching people's kids, etc.
But again, having financial difficulty after maxing out HSA and 401k are not the purpose of these two accounts. Imagine you need to pay for an emergency or get your car fixed, because all your money went into these accounts, you either have to borrow from it, which may incur a fee or have to put it on a credit card. And since you don't have rainy day funds to pay off these unexpected purchase, your credit card balance will incur a MUCH HIGHER interest. Take small steps in savings and continue to look for raises and promotion, that's how you get to a secure retirement.
Thank you! Gives me a lot to think about
This is most certainly not the purpose of those tax benefits
I agree with you but it's compounding interest build over a period. I started out just 1 back when I was 30 years old. I am so late as compared to people that start in their 20s. I want to retire with nice fund and provide education for my kids in future
This is excessive saving. Just work you way up by getting promotions and salary increases to be able to max out your pre-tax investment vehicles.
You don’t want to have to fight for scraps just to save money for when you’re 65. If you have no money to buy yourself food you probably won’t even live to that age lol aka wasted all that money for nothing.
Yeah you can't have a legitimate additional source of income under an H1B visa. Put less in pre tax accounts so you have more left post-tax to spend. It's pretty straightforward.
I had to more than double my income before I could go from 6% to max contributions to 401k. Most people can’t max them and that’s certainly not the first item on the hierarchy of needs
Oh wow. Never thought of that
Are you planning to stay in America forever? If not then I wouldn’t be maxing these accounts.
Yes I will do that 😊