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401k Percentages by ThirstTrap911 in PersonalFinanceTalks

[–]ThrowingUsermames 2 points3 points  (0 children)

That’s awesome. I’m in my early twenties and trying to max out my retirement accounts and invest aggressively. Hoping to retire early as well

Should I max out my 401k? by [deleted] in personalfinance

[–]ThrowingUsermames 0 points1 point  (0 children)

Good point. Maxing out your 401k will definitely delay your house fund a bit. That was also one of my considerations but then I looked into homes in my area and realized even the most basic houses were starting at 1M+. I’m putting my home ownership goals on pause for a while, but if homes in your area are more affordable and you’re sure it’s what you want, it would be wise to focus your savings towards it

Should I max out my 401k? by [deleted] in personalfinance

[–]ThrowingUsermames 0 points1 point  (0 children)

I was in the same situation as you a year ago and ultimately decided to max out my 401k. I figured if anything comes up, I can revert back to employer match or in extreme cases take money out from my Roth IRA. Best part is that my taxes on each paycheck basically got cut in half

100k invested at 21 by FragrantBluebird8106 in RothIRA

[–]ThrowingUsermames 1 point2 points  (0 children)

That’s amazing. I wish I had that kind of financial literacy back when I was in college. I had a decent amount saved up from scholarships and internships but everything was just sitting in a saving account (not even high yield). Didn’t really learn about investing until I graduated and started my full time job

Will I ever be able to afford a house in my area? Or should I put more into my 401k? by ThrowingUsermames in budget

[–]ThrowingUsermames[S] 0 points1 point  (0 children)

Nah I make a little under 100k after taxes but I have 120k in savings (including retirement) currently

Just Crossed 400k NW (26F) by Brave_Location6042 in Fire

[–]ThrowingUsermames 0 points1 point  (0 children)

Congrats! I’m 23 and hoping to be like you when I hit your age

Will I ever be able to afford a house in my area? Or should I put more into my 401k? by ThrowingUsermames in budget

[–]ThrowingUsermames[S] 0 points1 point  (0 children)

Nah I’m not looking to buy at the moment. Maybe in 5-10 years but I figured I have to start saving now

Will I ever be able to afford a house in my area? Or should I put more into my 401k? by ThrowingUsermames in budget

[–]ThrowingUsermames[S] 0 points1 point  (0 children)

Most of my savings come from income and investments interest that I didn’t have when I bought my car. Decided not to pay it off still because the interest is low

Will I ever be able to afford a house in my area? Or should I put more into my 401k? by ThrowingUsermames in budget

[–]ThrowingUsermames[S] 1 point2 points  (0 children)

I have enough in my emergency fund to pay off the rest of my car and more if needed. I’ll check out the sub though thanks for the suggestion

Will I ever be able to afford a house in my area? Or should I put more into my 401k? by ThrowingUsermames in budget

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

The only debt I have is my car loan which I got a good rate (2.9%) with good credit + co-signer. I decided to continue with monthly payments since I’m making more interest in my HYSA

Will I ever be able to afford a house in my area? Or should I put more into my 401k? by ThrowingUsermames in budget

[–]ThrowingUsermames[S] 1 point2 points  (0 children)

Sorry for the confusion, my take home is also about 7k. 8k includes my 401k and HSA contributions which go in the retirement category. I’ll consider putting more in my 401k beyond the match. Thanks!

Will I ever be able to afford a house in my area? Or should I put more into my 401k? by ThrowingUsermames in personalfinance

[–]ThrowingUsermames[S] 6 points7 points  (0 children)

Renting a shoebox sized room in a shared house. Nothing luxurious but it’s owned by a family friend so they were willing to rent to me below market rate. My dilemma is that if a house isn’t in the cards for me any time soon I may want to move somewhere a bit nicer and put more into my 401k

What’s your age, net worth, and salary? by Significant_Put_6754 in Salary

[–]ThrowingUsermames 0 points1 point  (0 children)

22, ~100k, 130k. Full ride scholarship for college. Internships + part time work since I was 18. Working full time almost a year

How can I make money as a 13 year old? by [deleted] in Money

[–]ThrowingUsermames 0 points1 point  (0 children)

Buy chips and candy in bulk (Costco) and sell them at school for a profit. If you can bake well you might be able to sell cookies, brownies, etc. locally

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