Say I make $100K. I contribute 15% and my employer matches up to 8%. That’s $23K to my 401K.
In addition, up to Q3. I’ve invested $30K in my brokerage.
Most experts would say, max out your 401K and contribute the remaining 5%. You already invest additionally into a brokerage anyways.
My thought is to invest into brokerage as well so I don’t have to wait until retirement.
Thoughts?
I’ve never seen a company match 8% that’s 16 percent alone, wtf lol.
@EARTH Yeap. My match is up to 8%. I’ll contribute 15%, employer is 8%, $23K into my retirement.
My company does 7% auto, and match 3% if i put in 3%.
My company is a 10% match. Really nice having that.
Mine is an automatic 8.3%, but salary isn’t high so not as awesome sounding as it seems.
You don’t need the salary to be high. That still 16% if you put 8 in. You’d be a millionaire
I’m 29, anyone my age should be at least a millionaire in retirement by 67. $50k now is ~$128k at 67, and guideline is 10x so ~$1.3M.
But yeah, it’s an aspect that helps me rationalize staying vs taking a job that could pay say 25% more.
I’m 25, my pension will be 30 years plus my 3 military. So even if I don’t max, it’ll be over a million. But I’m gonna max it for most the time.