How far in progression are you?
Time to bump up that 401k
Nothing wrong with that bit when work picks up, crank it back up
Browndriver5
Well-Known Member
Save up an emergency fund 3-6 months. so you can still invest in situations like these
UnconTROLLed
perfection
13% up from 11%. I finally hit 6 figures this year.
It's a good feeling to have some control over your own destiny
UnconTROLLed
perfection
I am roughly 25-30 years away from collecting a pension, I think you are a bit closer in age due to your locals pension configuration. it's pointless to even think about to me, honestly. The whole thing is so fragile, I'll be lucky to collect anything. IF that day does come and a pension is there, retirement will be a hell of a lot more carefree.
Keep saving
BrownDog5117
Well-Known Member
I went full-time last October. I did some seasonal work before that as a temp so I'm a little over a year I think.
Next progression, pump it up
BrownDog5117
Well-Known Member
Yeah... I'm at 7% right now. Perhaps next progression raise I'll go to .. maybe 9.
You will not be sorry later on in life...it goes fast, trust me
Same boat for me. I'm doing a Roth/Traditional 401K split in our Prudential setup and a separate Roth IRA with Vanguard that maxes out contributions at $5,500 a year until age 50 (bumps up to $6,500 a year). The main appeal being that withdrawals are penalty and tax free after 5 years of account opening. Can get to the $$ if you need to.
BrownDog5117
Well-Known Member
That's what my parents keep saying... haha!
Listen to them, at least this time.That's what my parents keep saying... haha!
Just got this today
Brownslave688
You want a toe? I can get you a toe.
Interesting....
Find A fee only planner. They won't try to sell u anything and will look at your 401 and make suggestions move it up to 16% and retire wealthy. I was lucky I started in the early 80's and jumped on the opportunity to let hourly workers buy stock I was young with a growing family but switched my old thrift plan to the stock and ignored the older drivers that said buying stock is siding with the "enemy" these were some of the same guys that said forget the 401 we have a pension. Put as much as u can into the 401 u will be happy later. I'm older now but I think I had almost 3,000 shares at $25 when stock went public it split to 12.50 and went up to $60 when it went public so we had over 300,00 most have gone for tuition but my point is put as much as u can in your 401. Sorry for rambling!!
Rack em
Made the Podium
I agree. I started my 401k as a preloader and have been bumping it up every year. I also have about 40 stocks so far but I only put $20 a week toward that, I just treat it like a savings account.
I just worry that I am not investing my 401k properly. When I set it up I put most of it towards the S&P500, but I really had/have no idea what I'm actually doing haha.
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