{ "media_type": "text", "post_content": "What percentage of your income do you save (401k, cash, investments etc)? Currently saving 25% in my third year of my career but I have a feeling I’m on the lower end", "post_id": "5b32df9270761a00189cbe93", "reply_count": 20, "vote_count": 6, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

What percentage of your income do you save (401k, cash, investments etc)? Currently saving 25% in my third year of my career but I have a feeling I’m on the lower end

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

I live with my parents - save 10% pretax and 85% post tax. I spend the rest on hookers and blow

like

Who is OW1??

like

15%. Partying it up now because I can

like

I only save 6% for the matching - but have mountains of bills from my previous wonderful financial decisions...getting on the right track now. I think 25% is just fine - have to enjoy life too!

like

Enjoy your youth, focus on your growth drivers and you will have time to save. Max your 401K and your pretax contributions

like

OW1, I literally spit out my drink reading that. Always a classic

like

15% into 401k, 10% after tax into ESPP, 50% of remainder into savings/investments

like

FYI - SC1, you’ll pay tax on all the money you convert to a Roth, so be ready for that. OP - you’re fine. Save what you can. For what it’s worth, you’re on the higher end, especially at your age.

like

11% to max 401k and another 17% of gross so far this year. Thought it was lower; it definitely was earlier in my career.

like

6% 401K, 6% IRA, about 17% cash. Had a lot of big events this year, so looking to up my savings more next year!

Max 401k, Max IRA, and ~$12-15k into my taxable brokerage per year, at the moment

40% of after tax income

I only save 6%. How truly bad is this? 6% seems fine.

12 inches, I mean %, between 401k and match. This winter I am going to convert my 401k contribution into a Roth, which will significantly increase the value of my retirement by eliminating taxes on it

A3 - sadly can’t retroactively convert my 401k to Roth under my current plan. I meant change the contribution from traditional to Roth. And, OP you are crushing it. Good for you

SC1 - gotcha.

Max 401k at 11%. Save another 30% via investments like real estate purchases

Is it dumb to split evenly between Roth 401k & traditional?

50% savings rate | 50% for living life

Max 401k, max roth IRA, 15k brokerage, 10k towards downpayment... make sure you have an emergency fund fully funded would be my advice

Related Posts

Accenture Fish: Can you use a self-directed 401K brokerage like Fidelity at Accenture??

like

Talked to a guy for a month and then we decided to just be friends with benefits. Since then our texts have mostly been about arranging our next hookup. I don’t think we are compatible in the long run, but we do share some hobbies so I kinda wish our texts have been less superficial. Anyone knows how to navigate this?

like

SaaS contract playbooks: Anyone willing to link to good resources or have some tips/best practices (or links) to drafting & negotiating SaaS contracts? I have westlaw, just wanting to read more anecdotal/personal experience type content you’d get from a mentor. Pref for healthcare tech or subscription based resources but any SaaS would be helpful!

like

On which link we have to claim work from home setup reimbursement on Accenture portal?

like

Should I do a Roth or traditional 401k if I hope to stop working around 45-50? Planning to max it out no matter what but torn between the two.

like

Any Deloitters can share a little bit on how the pension works? From what I see 401k is 25% match of 6% of salary. Then pension is 1.5% of base?

like

Thoughts on Oliver Wyman Healthcare practice? Type of work, WLB, Post-Covid Travel situation, etc. TIA!

like

Should my excess money go towards my 401k on extra student loan payments?

like

Big 4 Fish. Which company would you say offers the best health insurance? It seems like PwC’s plans offered are mediocre at best. Is it like this across the big 4 or is PwC the odd man out here?

like

Do you guys think the if Biden and Harris are elected, they would make the healthcare system better? By better I mean: less complex and cheaper for the consumer. With premiums and deductibles constantly rising, I feel like healthcare is getting out of reach, even for households with ~100K in income

like

Is there anyway to cash out the pension benefit at KPMG?

like

EY maternity leave, do you get 16 weeks plus Short Term Disability? Or just the 16 weeks?

like

What is so great about working in Salesforce? What are the benefits everyone raves about and what do they even do? Is it implementation?

like

Setting up a 401k for the first time. Did you decide to do pre-tax or post-tax? Why did you decide that? Retirement savings and options are all overwhelming!

like

Fishies, basic investment advice please! I have a Roth IRA with E*TRADE which I max. 10% to 401k (EY only matches up to 6%), and way too much just sitting in BOA checking. Does it make sense to open:

like

For those of you that started your own business, do you work with an accountant / tax advisor or do you do it yourself? What prices / benefits have you seen?

like

If company offers unlimited PTO, what else beside salary can you negotiate on an offer? Benefit package is standard (health insurance) and they do not offer 401k matching yet.

like

Best consulting firms in Houston for Healthcare?

like

Are manager health, dental, etc benefits firm paid usually? Ive always thought this to be the case, but ive never heard for sure. I know parking and cell phone is usually covered a lot of places.

funnylikehelpful

Thought on Alixpartners? How is the culture, compensation, benefits...compared to Big4?

like

Additional Posts

Any tips for PwC interviews? Specifically People and Organization😊

like

What do y’all think of kids 5-11 getting covid vax ?

like

Staying at an established middle market firm where realistic partner track is about 10 -12 years vs moving to big4 or MBB. Pros & cons of both?

like

How have people been using the Covid stimulus checks? Curious cause I feel that the accounting industry hasn’t been affected as much as other industries in terms of unemployment

like

Has anyone given any thought to the possibility of keeping quarantined staff and students at school in a separate area and allow instruction to be monitored by said staff? I am not talking ones who are truly feeling ill but we have teachers who have had to ne home with allergy like symptoms...those teachers could monitor students who are also not feeling ill in an area a way from the nonquarantined student body...maybe other schools have students have students who work their hearts out not our

likehelpful

Does anyone have any experience with BCG Platinion Risk Consultant case study interviews? This is my first time doing a case study interview and I'm currently trying to prepare, but most case studies I have found online are more in management consulting. Thanks!

likehelpful

Had the weirdest call with someone from an offshore team… are offshore folks allowed to work for two Big 4 companies at the same time?

funny

Staying the weekend in lieu of traveling home. Hotel has no electricity today, they said they could come a night at the hotel. But I'm not paying, ask for points if so how much?

like

Accenture Fish: Can you use a self-directed 401K brokerage like Fidelity at Accenture??

like

Coronavirus has forced everyone to think that our YOLO runway has shortened.

likefunny

How’s LA doing Covid wise? Looking to make a move soon

like

Anyone do improv? I’m moving to NYC in a couple months and I’m curious what the scene out there will be like post-covid, and when classes will be opening back up.

like

Any openings for fraud prevention related jobs...

like

I wonder what this means for return to office plans.

Post Photo
likefunny

SPG fish... 166k points at St. Regis for deluxe room vs 75k points at Le Meridien? Going to Rome for a week and those two are my options... is St Regis worth blowing all my SPG points?

like

Talked to a guy for a month and then we decided to just be friends with benefits. Since then our texts have mostly been about arranging our next hookup. I don’t think we are compatible in the long run, but we do share some hobbies so I kinda wish our texts have been less superficial. Anyone knows how to navigate this?

like

Has anyone interviewed for the Product Strategy team at Facebook and is willing to share their experience? TIA!

Will Chase renew lyft pink for CSR holders? Did anyone try to get them to renew?

likehelpfulfunny

Four layoffs in four years. I think I’m finally done with this business.

likehelpful

Confirmed on a project that I didn’t really want, had to decline other options I was interested in. Now the project I was confirmed on was pushed back a month. Woof.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
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

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

For account settings, visit Fishbowl on Desktop Browser or

General

Legal