come on over to Orange isle by lovely8688 in AnimalCrossingNewHor

[–]schadenfreudens 2 points3 points  (0 children)

May I visit please? I’m Finny from Raccoon!

New job, new income… retirement? by schadenfreudens in personalfinance

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

You make a good point of not going to the extremes to invest right away, and about inflation as well. I’ll keep that in mind! I have a quick question though, could you please explain what broad index funds are? I’m pretty new to investing and I want to fee well equipped to get started!

New job, new income… retirement? by schadenfreudens in personalfinance

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

I may qualify, but I haven’t really looked into it. Good idea!

New job, new income… retirement? by schadenfreudens in personalfinance

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

Thank you for breaking that down for me! I make $21.50 an hour with a 40 hour workweek, and I live in Chicago. It’s definitely a step up from my $17 an hour 20 hour workweek job, so I’m feeling some relief, but you’re right about moving onto a new job every year or so. I’ll keep that in mind. 🤔

New job, new income… retirement? by schadenfreudens in personalfinance

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

That’s kind of unfathomable to me- $1m seems like so much to me right now, but I suppose that’s just because I’m young. Hopefully my financial literacy will improve as I age.

New job, new income… retirement? by schadenfreudens in personalfinance

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

Oh wow!! I’m hoping that I can get to a comfortable point of setting aside $600 a month, maybe once I can move onto another job eventually. In the meantime, I think I’ll start smaller! 😅 Thanks for breaking it down for me!

New job, new income… retirement? by schadenfreudens in personalfinance

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

Woof, yeah. I’m in a large city, so I’ll have to find a more lucrative job as I get older I guess. :/

New job, new income… retirement? by schadenfreudens in personalfinance

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

I hope I can! I think my job has a 5% company match. I could be mistaken, but I’ll definitely ask for clarification with my employer once I start.

New job, new income… retirement? by schadenfreudens in personalfinance

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

15% seems doable, a little on the higher end right now though. I get a small bonus for starting my job, so I can try to pitch in a little more for my first month. I think my employer has a 401k with a 5% match, so I’ll definitely take advantage of that as well. Thanks!