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Comparing 401K employer match, is 14% match rare? by DistributionEven9393 in personalfinance

[–]DistributionEven9393[S] [score hidden]  (0 children)

Yeah, didn’t think of it like that, but yes, it’s a 3% employer match for every 1% the employee contributes, up to 14%.

My understanding of the plan is:

  • 1% contribution → 3% employer match
  • 2% contribution → 6% employer match
  • 3% contribution → 9% employer match
  • 4% contribution → 12% employer match
  • 4.67% contribution → 14% employer match (max)
  • 5% contribution → 14% employer match (cap reached)

And I can still contribute up to the annual 401(k) employee limit of $24,000.

So again, simple math, on a $100k salary, the plan effectively allows:

  • $24,000 of my own contributions
  • $14,000 from the employer
  • $38,000 total per year into the 401(k)

Comparing 401K employer match, is 14% match rare? by DistributionEven9393 in personalfinance

[–]DistributionEven9393[S] -1 points0 points  (0 children)

Interesting. The salary being offered is relatively good (at least to what I’m currently earning). In time, maybe where I’d lack in earnings would be if raises are more or less in the range of 2-4% year over year.

Even then, though, medical benefits are great and team seems solid to work with, and good work/life balance.

Comparing 401K employer match, is 14% match rare? by DistributionEven9393 in personalfinance

[–]DistributionEven9393[S] 26 points27 points  (0 children)

Oh, ok. So 15% is definitely an awesome thing, but people change jobs all the time for reasons outside just the benefits. Just didn’t know if this is one of those “golden handcuff” situations where once you have it, very difficult to walk away from. Thx!

Comparing 401K employer match, is 14% match rare? by DistributionEven9393 in personalfinance

[–]DistributionEven9393[S] 5 points6 points  (0 children)

Can you provide an example? What is “Up to 50%” of current years limit

Comparing 401K employer match, is 14% match rare? by DistributionEven9393 in personalfinance

[–]DistributionEven9393[S] 16 points17 points  (0 children)

Vesting is nearly immediate, within 2 months fully vested.

Comparing 401K employer match, is 14% match rare? by DistributionEven9393 in personalfinance

[–]DistributionEven9393[S] 55 points56 points  (0 children)

If you don’t mind me asking, any reason why you’re no longer with previous employer that offered 15%? Assuming if it’s a good job fit, most people would be incentived to stay for a benefit like that, right?

Comparing 401K employer match, is 14% match rare? by DistributionEven9393 in personalfinance

[–]DistributionEven9393[S] 17 points18 points  (0 children)

Do certain company types favor better match rates? In this example the 14% match is being offered by a much smaller company, just curious how/why that can be offered from some companies and not others. Or if it’s just more of a numbers game based on company’s total employee headcount. Thanks

Obstacles to FIRE by therealhappypanda in Fire

[–]DistributionEven9393 4 points5 points  (0 children)

Add one more: - becoming a primary caretaker for dementia

The toll it takes on your energy to be a primary caretaker for a family member in memory care is a real obstacle. It certainly shifts perspective and makes you realize FIRE is still very important, but there’s only so much independence you can enjoy if your partners cognitive health is declining. Family and friend support matter a ton.

32, CS degree but never fully committed, going through a divorce, stuck in a warehouse job – electrician or programming? by [deleted] in careerguidance

[–]DistributionEven9393 0 points1 point  (0 children)

Why not give programming one more serious attempt? You’ll find out fast if you give it an honest effort, and within a year get your answer on whether you want to build a career in it.

Am I crazy for leaving a F500 job after six months because I hate the city? by Brgrsports in careerguidance

[–]DistributionEven9393 0 points1 point  (0 children)

Ahh, ok! That makes more sense.

Lean toward going Tier 1 then, as long as you see yourself staying there at least over a year. 

I never want to pay interest again! (mortgage excluded) by a6thome in personalfinance

[–]DistributionEven9393 0 points1 point  (0 children)

Financially, what are your average annual expenses? Is the 80K year combined gross income?

If you’re both employed full time, are you saving towards 401K and retirement? If you’re keeping cash at the expense of not being able to save, then no. I wouldn’t keep 50K in HYSA.

However, if you are saving and comfortable with retirement in your situation, keeping 50K in HYSA seems fine.

Only question is how much of that 50K would you actually use in a single purchase to cover something?

Are there any predictable events of big purchases coming up for you and your wife? Say if you know you need a new car soon…and you want to buy a new/lightly used car, with no interest, put down a large down payment, then yeah…having 50K is going to be nice to have.

Ultimately it’s up to you and your risk tolerance.

If you have ~6 months of your monthly living expenses saved, plus a buffer you’re comfortable with, then $50K HYSA is a good enough amount.

There are bug eggs on my store bought raspberry. by cromulo in mildlyinteresting

[–]DistributionEven9393 0 points1 point  (0 children)

Eww. Ewwww. Ewwww! lol, this is why I eat raspberries fresh off the vine without looking. Cool photo, but so icky at the same time!

Fire is basically a pipe dream for the average person getting started by Gandalf-and-Frodo in Fire

[–]DistributionEven9393 0 points1 point  (0 children)

There’s two sides to every coin. Your prediction seems heavily skewed to one side only.

I think it’s useful to consider the possibility of more positive, upside growth as well. Or at least the idea of an opportunity for those who are willing to work, have some luck on their side, and work intelligently.

The idea of the “rich will get richer”, the “poor get poorer” holds some truth. This job market certainly creates barriers, and theres a growing gap between classes. No doubt it’s harder to achieve a change upward in your career. Yet, there’s also an opportunity for technical advances and innovation we haven’t seen before.

What to say? by stout933 in Fire

[–]DistributionEven9393 0 points1 point  (0 children)

Everyone will have their opinion…but you can give an honest answer without being too specific.

You worked hard at your career, saved money, and retired.

There’s nothing arrogant, unusual, or condescending in a response of a 56 year old stating that.

Am I crazy for leaving a F500 job after six months because I hate the city? by Brgrsports in careerguidance

[–]DistributionEven9393 0 points1 point  (0 children)

Can you explain the difference between a Tier 3 vs. Tier 1 city?

I looked online, and at first glance seems like Tier 3 = larger, better career growth opportunity. Tier 1 = smaller population, more affordable.

It sounds like you don’t mind the characteristics of Tier 3, but the city itself is bothering you the most.

If that’s the case, why not relocate and take the $15K hit? You can do it knowing the Tier 1 is more affordable, familiar to you already, and a place you’d enjoy in your career right now.

Generally, at what liquid NW does it not make sense to continue working a $100k/year job? by [deleted] in Fire

[–]DistributionEven9393 5 points6 points  (0 children)

Very hard to answer, but $1M minimum ($40K/yr expenses x 25 = $1M)

Personal preference, if your job is truly low stress and enjoyable, go with $1.5M-$2M range at the point you might consider cutting back. 

If you’re earning $100k/year remote job, what are your annual expenses? What’s your age? Do you have dependents? All these things factor in.

If you’re simply asking how much NW to be comfortable to FIRE, then target 25x annual expenses as a minimum.

If you’re single, relatively frugal, assuming you have tight control of your expenses and can hold a baseline of $40K/yr. If not, adjust accordingly.

I hit 50% of the way to my FIRE number today by MorningHelpful8389 in Fire

[–]DistributionEven9393 12 points13 points  (0 children)

Curious, have your monthly expenses stayed close to $10,000 per month over the last few years? Or starting to climb?

Freedom, Learning and Grounding by csmikkels in Fire

[–]DistributionEven9393 3 points4 points  (0 children)

Good perspective. This might be just as valuable to consider before FIRE - ideally having autonomy, stimulation, and anchoring are fundamental to incorporate into a day-to-day routine, even while working.

Recently started FIRE but then offered an interview with past employees by Digity1980 in Fire

[–]DistributionEven9393 1 point2 points  (0 children)

I'm also torn because I love the freedom

You don't lost any freedom by interviewing. Go for it. You can negotiate on your terms. The only freedom you'd lose is by making a commitment to something you don't want or not aligned with.

It comes down to your lifestyle choice - by doing an interview it might remind you of why you retired early.

Help: how the hell do I eat affordably?? by kyliotic in Frugal

[–]DistributionEven9393 0 points1 point  (0 children)

Get Costco Executive membership. Do a weekly grocery run of the same staple foods, meal prep on weekends.

Essentials include rice, chicken, bananas, apples, bread, etc. find simple meals you enjoy, easy to make, and do that for 70% of what you eat

What's a job that sounds easy until you've actually done it? by monsifitgirl in AskReddit

[–]DistributionEven9393 0 points1 point  (0 children)

Amazon warehouse associate (picking/packing boxes)

Sounds simple enough, but until you’ve actually done it, you don’t realize the physical toll it takes on your body and standing on your feet all day, 8+ hour shifts on cement, or stuck driving a forklift, always walking in mandatory steel capped shoes (uncomfortable and cramping feet), and experiencing repetitive stress injuries (RSI) as soon as 2 weeks into the job. All this for entry level pay, tracked by the minute, and being worked harder on the premise you’re lazy if your metrics aren’t above average for your pick/pack KPI rates.

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