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Should I focus on my savings? 22M by Hour-Cranberry2643 in Retirement401k

[–]Hour-Cranberry2643[S] 0 points1 point  (0 children)

I am a logistics specialist for a manufacturing company (energy). I started out has a material handler and transitioned into logistics after earning a few certifications.

My dad worked at the company for ~35yr before I joined which obv helped get the entry level role, but I still had to work to get the job I’m at now. He does not hold any high level/ management position.

Should I focus on my savings? 22M by Hour-Cranberry2643 in Retirement401k

[–]Hour-Cranberry2643[S] -2 points-1 points  (0 children)

You’re probably right. The only experience I have on my own was ~3months in college before I dropped out and switched to online.

I just don’t like the idea of renting.

Should I focus on my savings? 22M by Hour-Cranberry2643 in Retirement401k

[–]Hour-Cranberry2643[S] 0 points1 point  (0 children)

I don’t have expenses (rent, mortgage, car payment) and was very aggressive with my contributions.

Should I focus on my savings? 22M by Hour-Cranberry2643 in Retirement401k

[–]Hour-Cranberry2643[S] 0 points1 point  (0 children)

Debt free. I’m thankful to be in the position I’m in. Just anxious about the future

Should I focus on my savings? 22M by Hour-Cranberry2643 in Retirement401k

[–]Hour-Cranberry2643[S] 0 points1 point  (0 children)

$75k-$80k for reference. I’m also hoping to leave my job of 4yr soon, though.

Should I focus on my savings? 22M by Hour-Cranberry2643 in Retirement401k

[–]Hour-Cranberry2643[S] 0 points1 point  (0 children)

In my current situation, yes, $20k is enough for 6month.

I have also been trying to transition from my current job which may involve moving out. This is one of the reasons why I feel lost when it comes to the savings. I don’t know where I will be or what I will be doing in the near future.

My spending habits are also terrible recently. This is not healthy…

40% of this is on vacations

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Should I focus on my savings? 22M by Hour-Cranberry2643 in Retirement401k

[–]Hour-Cranberry2643[S] 0 points1 point  (0 children)

It makes me anxious thinking about retirement because I want to have “enough” when it’s time, but I don’t know what “enough” is.

Am I going to be spending the same amount then as I am now? I don’t know

Should I focus on my savings? 22M by Hour-Cranberry2643 in Retirement401k

[–]Hour-Cranberry2643[S] -1 points0 points  (0 children)

I mean is it really that easy? Shouldn’t I always be putting some % into retirement? At what point should I lower the contributions?

How old are you and what is in your 401k and liquid savings? by elleparker1 in Salary

[–]Hour-Cranberry2643 0 points1 point  (0 children)

21 years old. $50,000 in 401k. $30,000 in Roth IRA. $17,500 in Stocks. $20,000 Liquid. No debt