With a considerably small associate paycheck , how much should we contribute each month to 401k and Roth ? Should it be both or any one ? I only have a percentage in 401k now

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

Can you explain the difference EY 1? To max both it would mean a considerable amount from my paycheck as well.can it be withdrawn anytime

like

What is 501k? Just so you know I am not a US citizen so I don't know if I qualify

like

Yeah never heard of 501k either...

like

OP, I suggest you sit down and create a personal finance excel sheet that breaks down all of your pre tax deductions, taxes, post tax stuff you wanna take out of your check. Make t so you can manipulate variables such as 401k percentages, stuff like that. Makes it easy to see the impact on your paycheck when you map it all out.

like

Max both. After ~110k salary you can't contribute to your Roth. And you want to take advantage of the extra money given to you for your 401k

Do both if you can. Mad out the match for 401k since it's free money and put away as much as you can into Roth. The limit is 5500/year for individual so that's just under 500/month. If you can't put away that much, put away at least something

5500 for Roth or 401k? I thought 401k was six percent of your paycheck

5500 for roth

Everyone is assuming they mean Roth IRA and not Roth 401k. Very different contribution limits and regulations.

501K up to company match -> IRA to max -> 401K to max. That should be you're priority. Roth or not is a different question. If you are less now then you will be when you're withdrawing money from these accounts use Roth, otherwise use traditional. Once you put money in you can withdraw, but there will usually be a penalty.

They meant 401k

Related Posts

Other than salary, what other monetary benefits we get in ibm gbs

like

Any guesses/predictions on when this housing market gridlock ending? Reasonable prices and reasonable mortgage rates? Umm like a 2017 or a 2018?

Can anyone tell me what is one of the most popular ways to make money through stocks and the housing bubble right now? Any popular stocks to buy or land?? I'm seeing an upcoming recession WELP

likefunny

I have a client who needs a 401k, or a solo retirement account w loan options. When I was at UBS/Ameriprise, it was no issue but now it seems tougher to find a firm that does solo 401k as a RIA's.

likehelpful

How useful do you find bitcointalk to be?

like

Is anyone concerned the push for sexual equality in pay without accordant leveling of parental leave is gonna backfire?

Here’s a hypothetical:

A company has 2 candidates, aged 25-30, equal in every respect save one’s a man the other’s a woman. Maybe the woman is a slightly better candidate overall. They’d have equal comp.

Company considers the woman a riskier bet due to possibility she’ll take maternity leave — and considers the man less risky for his ineligibility to take as much leave. 🤷

likefunny

Hey all, deciding between two properties in Miami for this weekend - W Miami or the JW Marriott (not marquis). The W is about $325/night all-in while the JW is 40k pts/night. Which one is better?

like

I want out of healthcare so badly but as the sole wage earner in my family I cannot afford to start over in an entry level role in a new industry. I am so systemically exhausted I am struggling to translate my current skill-set to market myself into non- healthcare markets. When I say non- healthcare, I truly mean completely NOTHING to do with any direct clinical or patient related/facing anything. Anyone have any worda of wisdom or insight? Any positive experiences in doing this yourselves?

like

Hello all,
Looking for a consultant position in healthcare consulting. I have an MBA with 5 years in the healthcare industry, 7+ years of strategic program/project management and I’m am lean six sigma green belt certified. Know of any companies currently hiring? (I am willing to travel. )

Feel free to PM me to further discuss.

like

Does j2 background check decline you if they see you’re still employed with j1?

like

I’m interviewing with a startup and the range has a 40k difference from the lowest to highest point. It’s also pre-seed and comes with equity, and health, 401k benefits. It’s a director of sales role so I would eventually be recruiting and managing a team along with building the processes and strategy. What would you consider a fair compensation package? If they offer me something on the lower end of the range, is it still appropriate to counter with an offer that is over their stated range?

like

Fishes honest opinion needed. Me and My so presently live in Arkansas, living in our first home with a child 4 year, both of us recently changed our jobs and have HHI ~ 420K, current mortgage 1600/month. We are looking to move to Dallas and thinking of buying a house ~996K with a 15% down. Questions -
1. Should we go for house of that budget? We can afford, but asking based on market.
2. Should we down 15% or just 5% ? Or go for 20% ?
*Getting a rate lock 4.25% 🤞🏼

likehelpful

Tips for refinancing a car I’ve had for 6 months. I’ve paid on time for every month but I’m paying $600/mo on a loan with 15% interest? I owe $25K. Will the original bank, Chrysler Capital, consider it or do I need to find another organization?

like

Has anyone bought a commercial space and eventually rented it out that resulted in a positive cash flow? If so? In which city?
I’m on a visa in U.S and looking to potentially invest in commercial spaces rather than residential places.
Age:25
T.C: 102K

like

Is it wise to buy a home now with high interest rates in nj or would it be wise to just wait and see? Looking to buy a house in central NJ

like

Any group still busy heading into the new year? Been dead for months and still dead. Real estate — V30

like

What are the benefits for a new joiner at Nvidia? do they provide macbooks for employees at work?
What are the perks?

How is Nvidia salary compared to other semiconductor companies like Intel, QC, AMD for verification roles?Intel Corporation Nvidia Qualcomm Arm Analog Devices Samsung

like

So interest rates are really going down?

like

Unrelated to work, but what's the expectation on getting your realtor a gift after buying your first home? What would be some examples on what to give them other than a nice handwritten card?

funnylike

More Posts

Anybody from Reliance Industries Limited, Reliance Jio Infocomm Limited ,Navi Mumbai here who can help me refer for internal transfer. I have 8years of experience in iOS app development. I can join immediately with permission of my L1.

like

Hi Fishes
how's the recession going
is it over so i can think about job change

likehelpful

ACN strategy SM2 salary? Trying to understand salary progression.

like

salary band for Accenture Management Consulting 2nd year Manager in Chicago (Tier 2)? Was offered $120k base. Thoughts?

like

Any software developer consultants? What are you making and how long have you been working? I want to know what’s the market looks like.

like

Does EY pays semi-monthly or bi-weekly?

like

If Kanye becomes president then I can get into MBB. All things are possible.

likefunny

On some days I feel like I haven’t been productive all day. Something at home needs my attention or I feel distracted by absolutely anything and not a lot gets done
What do you do on days like this?

like

JPMorgan Chase

I see that Fixed Salary in JPMC is composed of Basic, HRA, LTA, other Allowance and Employer Contribution to PF.

What other Pay Benefits other than Bonus does JPMC provide seperately on top of CTC ?

like

Any reviews about HCL UOB Project work, technology stack and wlb in this project? I have an offer from HCL? Need inputs on the wlb and job security in HCL

like

Hi guys,

How if Capgemini Invent? Is it a different company or SL? How are the projects and opportunities?

like

Does Salesforce trailhead superbadges helps answering scenario based questions ?

like

Do you consider Dallas to be "conservative"?

like

Is there a need for a pharma/HC agency to build and maintain a curated trusted publisher network and execute buys programmatically with them?

Looking for insights and chit chat on the topic —>

Best books you read this year that aren’t about sales, marketing or prospecting?

like

Let’s continue the momentum!

If you’re open to referring people to your company, post your company and your location below!

like

Is it correct to share our current employment letter and payslip with company even before interview is scheduled?

like

Would would a senior product manager do over and beyond a product manager. We don’t have any seniors at my startup and I’m trying to figure out what I need to do/achieve to get promoted. Any advice would be much appreciated.

likesmart

Went from a big firm to work for a smaller firm. The people in the smaller firm are protective of their work and are good by their work too. I no longer feel chaos or stress. I am treated with respect and my schedule is more normal. I am even working more billable hours than before, but it feels like a seamless experience. I don’t work then past 5pm or anything out of the ordinary for this time of the year. I am so grateful!

likeuplifting

Footage of me currently juggling packing, prepping to move, downsizing, trying to close out old life tasks (off boarding, admin tasks, medical stuff), as well as set up a new lease in another city, onboard, background check, and selling old possessions, etc
*before anyone asks, no, I didnt get enough points to move everything (Biggest option was 2bdrm; I have a 3bedroom 1800sqft place full and a loaded garage) so was forced to downsize and choose the self-move option and just downsize my life* 😊

Post Photo
like

Additional Posts in Consulting

New parental leave act going into effect starting Jan 1. Does anyone know how many days off now?

like

Today is Friday?!?!? Life’s unexpected gifts...

like

How do you negotiate higher salaries or stock in an offer?

like

I want to go to Japan and Hong Kong for 2 weeks in September with my husband but don't have time to research places to stay and visit. Any suggestions?

like

I’ve been on the bench with less than 10% utilization for 3wks now. I’m a first year and the past month has been slower with not many new projects coming in. I do see a few new projects come in every week but I’m not getting staffed on them. Should I be worried? Should I ask my PM if I should be worried? We’re in a pretty small group less than 20 people

like

I'm almost at the point of an offer, and also just started a 6 month long engagement since my utilization was taking a hit. How do you fish recommend dealing with the situation once the offer comes?

like

Best consulting companies in the social sector?

like

Top consulting firms right there!!

Post Photo
funnylike

Happy Sunday night/evening

Post Photo
likefunnyuplifting

Ex-Deloitter here. My goal is to finish working across ALL of the Big 4, and then post-MBA at ALL of the MBB. Will I be considered a flight risk or will I garner the Thanos level respect I deserve?

likefunnyuplifting

What are some publications, books, podcasts, online classes etc that can help me prepare for my first year in consulting? Have 5 years of experience in finance and making the jump to consulting.

like

So i have been fortunate that i have managed to go through my career without the need for a degree. I was lucky enough to have been hired by one of the worlds top consulting firms, worked with a whole lot of big clients and travelled a lot. It's gotten to the point where I am not even asked about the lack of a degree on my resume. Personally though, it bothers me. I have a whole bunch of certifications in my industry…but just no formal degree. (cont'd)

like

Here's a question I wish I never had to ask. Is it better to use the code for bereavement leave or just burn pto I'm going to lose anyway? Does it make a difference from a utilization standpoint?

like

What are the best consulting firms for pricing (consumer goods focused)?

like

To those starting the year on the beach: office or home office ...or actual beach?

like

Anyone else feel like sometimes the people around you keep you from reaching your goals?

like

Do any of the top consulting firms hire into the Engagement Manager level after an M7 (if they had manager experience elsewhere)? I know MBB probably doesn’t but what about other tier 2 firms after that - and asking for US or Canada

likehelpfulfunny

AA ✈️💺 Benchmarking: I’m often curious as to the spend for folks above / below on the upgrade list.
Perhaps others are also curious, too?
Would AA folks post:
Home airport / EQD / EQM / EQS?

like

How bad is it when your managing partner has to send out missives (yes, plural) about your deployment?

like

Not thrilled about having to fly United for this engagement. No status on any airline- any ACN promotions going on right now?

like

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

Scan your QR code to download
Fishbowl app on your mobile

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