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Old 01-26-2016, 09:51 AM
 
Location: The South
5,226 posts, read 3,639,125 times
Reputation: 7916

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Quote:
Originally Posted by borninsac View Post
I'm sure this is not what you want to hear but I'll toss it into the suggestion hat. Cultivate a joy of living below your means and bank the surplus. That is first up in the batter's box in my opinion. Others here will offer the advice you're seeking.
The best advice you will get.
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Old 01-26-2016, 09:53 AM
 
5,397 posts, read 6,538,749 times
Reputation: 10468
concur, the best advice you will get. Live below your means happily.


"Originally Posted by borninsac View Post
I'm sure this is not what you want to hear but I'll toss it into the suggestion hat. Cultivate a joy of living below your means and bank the surplus. That is first up in the batter's box in my opinion. Others here will offer the advice you're seeking.

The best advice you will get. southernman"
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Old 01-26-2016, 10:28 AM
 
211 posts, read 299,359 times
Reputation: 95
I only started contributing to my 401k a few years ago. My goal is to get to putting away 10% of my income. Right now I increase my contribution 1% a year. My company also matches up to 5%.


If your company matches at least put that amount away. Since my company matches I contribute after taxes that way I will have a combination of pre and post taxes when I retire. I have read it is good to have a combination of both.


Try to find a company that has good retirement benefits. You may not get as much in salary but good benefits can out weigh the higher salary. I could go somewhere and make 10-20 thousand more but not get as good benefits and not a stable company. I work for one of the biggest banks in America in addition to a matching 401K they offer a cash pension that I do not have to contribute to. Each month my company puts in 3% of my salary and it gets compounding interest. As my salary grows and years at the company eventually I will get 5% put into the fund. I cant beat these benefits.


Just be religious about saving. When I was 18 I put $1,000 in an IRA, but when the ecomony tanked I took it out. BIG MISTAKE I should have left it in the fund.
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Old 01-26-2016, 11:07 AM
 
Location: Central Massachusetts
4,800 posts, read 4,850,322 times
Reputation: 6379
Quote:
Originally Posted by aweitzm1 View Post
i only started contributing to my 401k a few years ago. My goal is to get to putting away 10% of my income. Right now i increase my contribution 1% a year. My company also matches up to 5%.


If your company matches at least put that amount away. Since my company matches i contribute after taxes that way i will have a combination of pre and post taxes when i retire. I have read it is good to have a combination of both.


Try to find a company that has good retirement benefits. You may not get as much in salary but good benefits can out weigh the higher salary. I could go somewhere and make 10-20 thousand more but not get as good benefits and not a stable company. I work for one of the biggest banks in america in addition to a matching 401k they offer a cash pension that i do not have to contribute to. Each month my company puts in 3% of my salary and it gets compounding interest. As my salary grows and years at the company eventually i will get 5% put into the fund. I cant beat these benefits.


just be religious about saving. When i was 18 i put $1,000 in an ira, but when the ecomony tanked i took it out. Big mistake i should have left it in the fund.



yup!
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